Word: hummers
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Dates: during 2010-2019
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...promising boxer into a world champion. It's unclear if he has a political Roach, or if the ferociously single-minded Pacquiao would listen anyway. "I advised him not to run," says Luis Singson, political kingpin of the northern province of Ilocos Sur, who gave Pacquiao the bulletproof Hummer that ferries him around Manila and who shares his passion for cockfighting and gambling. "I told him, 'Give priority to your boxing. Later on you can go into politics.' But he's committed already." What are his chances of getting elected? "Good," says Singson, unconvincingly...
...Chinese government also wants to control a sprawling domestic auto industry that has expanded to include more than 100 carmakers. The purchase of Hummer by Sichuan Tengzhong Heavy Industrial Machinery, a private company that manufactures heavy vehicles and road-building equipment, would have only contributed to the diffusion. "The purchase of this brand is not a match for China," says Yale Zhang, a China market analyst for auto-industry consultants CSM Worldwide. "The government's general policies about efficiency and environmental protection, and No. 2, about consolidation - it is all about these two very broad, general policies. This purchase does...
...Chinese company had indicated that it wanted to put the Hummer on a diet and produce a leaner, more fuel-efficient version of the behemoth vehicle, which topped out at 15 m.p.g. for the once popular 2½-ton H3 model. A descendant of the U.S. military's humvee, which was built by AM General, the Hummer peaked in popularity in 2006, when GM sold more than 70,000 of the vehicles. By last year, sales had fallen to 9,000. (See pictures of the best-selling cars in China...
...first put the brand up for sale in 2008, hoping to raise as much as $500 million. The Tengzhong offer was estimated to be closer to $150 million. "We have since considered a number of possibilities for Hummer along the way, and we are disappointed that the deal with Tengzhong could not be completed," John Smith, GM's vice president of corporate planning and alliances, said in a written statement that was released on Wednesday. "GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner...
...government halved taxes on vehicles with engines smaller than 1.6 L. Combined with the relative health of the Chinese economy, car sales soared. In 2009 mainland consumers bought more vehicles than their American counterparts, making China the world's largest car market for the first time. Even so, the Hummer was a little too big for their taste...