Illinois Senator Roland Burris will investigate General Motors’s handling of HUMMER this week following reports that GM had left viable bids on the table. Late Monday, a member of Burris’s staff confirmed to HummerGuy.net that the Senator planned to look into the matter this week.
Senator Burris wasn’t able to attend the Save HUMMER Summit in Chicago over the weekend, however did send a “Special Senatorial Liaison” to the meeting who briefed the Senator in his home later that evening. Following that meeting, Senator Burris committed to investigate the HUMMER situation upon his return to Washington DC Monday, and brief executives from Capital & Labor International Coalition (CLIC) later this week on whether the GM talks were proceeding.
CLIC is hoping for an “acquisition by coalition,” which would involve cooperation with private capital and U.A.W. resources. Union representatives from both HUMMER production facilities were on hand to hear the plan and are running the idea up the chain of command to the International U.A.W..
What may be the most challenging part to CLIC’s plan is the re-opening of negotiations with General Motors, however the legal team handling the HUMMER matter for GM expressed to CLIC they were willing to take a viable offer back to management for consideration.
Raser Technologies wasn’t able to send a representative to the summit, but Frank Jenkins, the president of Electric Motors Corporation was in attendance and expressed frustration with the process of completing a transaction for the HUMMER brand. Electric Motors Corporation is based in Northern Indiana, and focuses on electric powertrain system for Trucks, SUVs, and RVs, and was also part of the bidding process for HUMMER – though reportedly hadn’t made it into the sale process as far as Raser Technologies.
Illiana HUMMER Club president Mark Price was also on hand to offer perspective from HUMMER owners and enthusiasts. The club is one of the most active, regional HUMMER organizations in the country and spends a significant amount of time training for and responding to natural disasters around the Midwest.
We’ve yet to hear the nuts and bolts of how a deal like this would go down and in what fashion, though it sounds like CLIC has lined up an impressive crew of venture capitalists and attorneys – which when combined with the right political players may be able to pull off a miracle.
It’s still a long-shot for HUMMER, but we’re keeping an eye on any progress that might be had.