Postscript October 13, 2009: the following is an article I wrote in June of this year. Now Tengzhong despite the condemnation, finalized a deal with GM to buy hummer. I was not expected, the purchase price even half the $500000000 price is not, only $150000000, but it was not a small number of stupid money, I still effective in the analysis of three months ago. Photo and Tengzhong Hummer owner with the boss, the standing position must be from Chaplin's film school (Xuo) called for the government to take this case, China shoot as soon as possible, early to end his suffering (put him out of his misery).

 [2009 June 29th text]

   I am engaged in Mergers & Acquisitions for many years in the America again last year, representing a Chinese auto parts companies negotiate a nearly $two hundred million acquisition of unknown, this month's Tengzhong announced from the General Motors Corporation to buy the Hummer brand, all nature is little not to listen to expert opinion I "".

   Sichuan has the words, "Guizhou mule Science (read Xuo) horse called", is about to learn not to other people's words also started to learn, expose oneself to ridicule. The Sichuan Tengzhong American (read "ghost") of the Hummer, it became a Guizhou mule.

   Hummer is a typical representative of American gas guzzlers gas guzzling cars, have become environmental guerrillas burned objects. A gallon of gasoline in the urban areas to run 14 miles (contrast, my M SUV to run 20 miles, L SUV 22 miles). America last century out of the shadow of the Great Depression by the two war of arms need, this also would like to rely on a green revolution to emerge from the financial crisis, so the environmental protection has become the priority among priorities of Obama's policies, there will be more demanding requirements on automobile fuel efficiency. Crude oil prices soared last year to nearly $150 a barrel, coupled with the economic crisis, the Hummer sales dropped 51%, this year to April fell 67%. Hummer was eliminated 3000 jobs, but sooner or later.

   This horse was also when the horse to buy! America Auto Union UAW is the most difficult, only the company really going out of business, from where they can squeeze a little concession. At this point do not chop down a person, when? It was Teng, come up to clap breast, 3000 employees left behind. You did not, American an auto workers, and wages and welfare, $50 per hour (even the most efficient Toyota plants in the United States to more than $30 a year per person), $100000 (design and management personnel more high), 3000 employees and $300000000 a year! (by contrast, Tengzhong workers annual income of 30000 yuan, more than 4000 U.S. dollars.)

   Look at the performance of the company, 2006 Hummer sold 71564 units, 55946 units in 2007, 27485 in 2008, it was Wang Xiaoer have the Spring Festival, year after year. According to the first 4 months of this year if the momentum, also can sell 9070 sets (which is not considered a China heard to Sichuan Wazi to buy give away factors). According to every 40000 dollars the price (H3 sold a bit over 30000), total turnover of 300000000 dollar of 6 ten million, barely pay for staff wages, not even pay for raw materials and parts of the money, not to mention the depreciation of equipment and maintenance workshop, the dealer only in vain to serve the people.

   The loser, GM last year had the face to bid $500000000, now GM into bankruptcy, and no one believed Tengzhong bid, make a fold, with a $200000000 5 ten million can be scored. Can Tengzhong total turnover in 2007 (not profit oh) is 3000000000 RMB, US $400000000 4 ten million, it is to swallow an elephant.

   To say that both the synergy cooperation, Tengzhong at home there is no passenger car production experience and sales channels, and no Chinese language and culture are the management team (speak Mandarin with salt and pepper taste), after the acquisition in addition to rely on the help of the company get into this difficult to stall the original management, no method. Chinese manufacturing with the Americans spell, relies on cheap labor, now agreed to leave the American all 3000 employees, means you can't put a lot of production to domestic to take advantage of cheap labor, even this last advantage were lost.

   Teng vow solemnly said, to develop fuel-efficient vehicles after the acquisition. Is this more people to buy Hummer to: "I don't care two gas!" To save fuel, simply buy a small Honda open got. Bought the Hummer factory, also in terms of energy saving, as buyers steak restaurant have launched the weight loss recipes as -- isn't over, small tail is exposed.

   To say the military content acquisition of Hummer, it is indulge in the wildest fantasy. Don't look at the Hummer grow strong, but is in fact a civil small freight car wheel, the U.S. had No. You want to, people in the United States Investment Committee CFIUS tube more strict which, if there is any Hummer to Chinese accounted for the military was cheap, the committee is absolutely not approved.

   Then the remaining are inferior. In addition to the above mentioned prospects Chinese keep going by painstaking effort, in the automobile manufacturing haven't let foreigners believe, several Chinese automobile manufacturers rushing and cried for several years, so far at least safety performance didn't pass, several simulation to hit reel right and left, the online YouTube you the object of ridicule. Let the Tengzhong Hummer Chinese Hummers took over, also do not know how much to scare away potential customers, even the boss of Shanxi coal will be lost to buy Hummer to show off.