General Motors Corp. took a key step toward its downsizing on Tuesday, striking a tentative deal to sell its Hummer brand to a Chinese manufacturer, while also revealing that it has potential buyers for its Saturn and Saab brands.
China’s Sichuan Tengzhong Heavy Industrial Machinery Co. said Tuesday afternoon that it reached an agreement to acquire [...]
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So it’s come to this: General Motors, once the world’s mightiest industrial enterprise, is now flirting with bankruptcy. Ford and Chrysler may not be far behind. Car and truck sales have collapsed. With cash reserves rapidly falling, GM may soon be unable to pay its bills. Here’s the dilemma: GM and other U.S. automakers ought [...]
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