Word: deale
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Dates: during 2000-2009
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...Hummer brand, however, could be on the road to extinction if GM cannot soon finish a deal with China's Sichuan Tengzhong Heavy Industrial Machinery, the only bidder for the controversial brand. GM announced plans to spin it off while reorganizing under bankruptcy protection this past summer. (See the 50 worst cars of all time...
...turning the cast-off brand into an independent company that could continue to sell vehicles around the world. They have lined up a $20.4 million grant from the state of Michigan to put its headquarters in or around Detroit. The grant, however, is contingent on the completion of the deal with Tengzhong Heavy Industrial Machinery, according to Michigan state officials...
...However, there are signs that the Chinese government might have reservations about the deal, observers note. Among the sticking points, China's National Development and Reform Commission has said publicly the purchase of Hummer is inconsistent with China's effort to become greener. In addition Sichuan Tengzhong has no experience building vehicles for the retail market...
...Another risk: GM CEO Fritz Henderson is under pressure from GM's new board of directors to turn around the company's fortunes quickly, and he has indicated the automaker is prepared to drop Hummer if it can't finish the deal relatively soon. "If it doesn't get sold, we'll close it," says a GM official. (See the best cars from the 2009 Detroit auto show...
...France and I hold one of the government's new auto-entrepreneur licenses to sell cold drinks and ice cream from a tricycle. While I congratulate the government on its new initiative, once you clear away the "jungle of administrative red tape" there are still the local traditions to deal with. Permission to trade has to be sought from each mairie. I applied to 11 and got permission to trade from only one. Even my local village has refused me. France may have rediscovered the word entrepreneur but it is yet to discover the spirit of the word. Luke Morris...