GM Close to Hummer Sale That Would Save 3K US Jobs

Has picked a buyer; deal would be finalized by Sept.
By Katherine Thompson,  Newser Staff
Posted May 31, 2009 10:14 AM CDT
GM Close to Hummer Sale That Would Save 3K US Jobs
Hummer vehicles sit on the sales lot of a Niles, Mich. dealership Thursday May 14, 2009. As part of the GM reorganization the future of the H2 Hummer vehicle is uncertain.   (AP Photo/Joe Raymond)

GM has selected an unnamed investor to buy its hulking Hummer brand, in a move aimed at saving more than 3000 US jobs, sources tell the Wall Street Journal. They say the company hopes to seal the deal, rumored to be in the $200 million range, by September. An official spokesman declined to give any announcement, saying only that GM is "working through the final details of an agreement." (Read more General Motors stories.)

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