CNN Report:
General Motors Corp. is planning to put its Strasbourg, France, manufacturing operation up for sale along with its Hummer truck brand.
Company Treasurer Walter Borst says in a slide presentation for the Deutsche Bank Leveraged Finance Conference that marketing materials for both operations will be distributed in October.
The slides posted on GM's Web site Wednesday say the assets under review are worth $2 billion to $4 billion.
The presentation also says GM continues to review other asset sales and will make more announcements in the fourth quarter.
GM (GM, Fortune 500) and other automakers have faced liquidity problems as losses have mounted and U.S. sales have declined. GM announced a plan in July to cut $10 billion in costs and raise another $5 billion through asset sales and borrowing through the end of next year.

 

Damn it....I just spent my last Billion......

 

I know auto makers have been buying and selling individual brands foras long as there have been cars, butwhat do you think will happen to a brand with such a negative image??

 

I was just reading that a major GM dealer closed suddenly leaving 3000 out of jobs. Bill Heard based in Atlanta.