"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Saturday, May 13, 2006

GM cans H1 Hummer - boosts military Humvee output instead

General Motors overweight, gas-guzzling , celebrity status symbol HI Hummer will be phased out this year.The still massive and thirsty H2 and a midsize H3 sport utility vehicle will continue to frighten , intimidate and pollute.

The H1 gets about 10 miles per US gallon ( 38 litres v Eurpean 4.6 l. gallon),soaring gas prices didn't factor say GM as typical H1 drivers don't care about the gas costs. prices.

The H1 attracts the rich, wishing to project a dominant , male oreinted macho "Don't fuck with me" intimidating stance. This season the H1 was offered as a high-performance H1 Alpha that costs about $130,000 to $140,000.

Last year, GM sold 374 H1s, down 16 % from 447 in 2004.

GM announced the first quarterly profits since 2004 and has cut 30,000 jobs and will shut 12 plants by 2008.

AM General, which builds the H1, H2 and Humvee in Mishawaka, Ind.,doesn't plan any job cuts, staff are expected to be shifted to military production as they wear out, get shot or blown up, stolen or lost in Afghanistan and Iraq. Posted by Picasa

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