Tengzhong in Advanced Talks to Purchase HUMMER
from GM in Strategic Acquisition
Modest Second-Half Rebound in Real GDP Expected
June 30 Deadline for U.S. DoT Registration is Quickly
Approaching
NADCA Reduces Membership Dues
Participative Management Advantage – a Way to
Improve the Bottom Line
Tengzhong in Advanced Talks to Purchase HUMMER from GM in Strategic Acquisition
Detroit and Sichuan – Sichuan Tengzhong Heavy Industrial Machinery
Co. Ltd (Tengzhong) and General Motors Corp. confirmed details of their proposed transaction, pursuant to which, Tengzhong,
a major industrial machinery group, will acquire the rights to the premium off-road HUMMER brand, along with a senior
management and operational team. It will also assume existing dealer agreements relating to HUMMER's dealership network.
It is contemplated that Tengzhong will, as part of the transaction, enter into a long-term contract assembly and key
component and material supply agreement with GM. In an earlier statement, GM said it expects the deal if successful to
secure more than 3,000 U.S. jobs. The final terms of the deal are subject to final negotiations.
Based in the Chinese province of Sichuan, Tengzhong is a privately-owned company and a leading domestic manufacturer of
road, construction and energy industry equipment. It will expand into the premium off-road vehicle segment through what
will be a strategic acquisition for Tengzhong and a catalyst for HUMMER's growth in the U.S. and around the world.
“The HUMMER brand is synonymous with adventure, freedom and exhilaration, and we plan to continue that heritage
by investing in the business, allowing HUMMER to innovate and grow in exciting new ways under the leadership and
continuity of its current management team,” said Tengzhong CEO Yang Yi.
HUMMER will continue to maintain its headquarters and operations in the U.S., and will continue to
be managed by its existing leadership team. The team intends to expand HUMMER's dealer network
worldwide, particularly into new and underserved markets such as China.
Modest Second-Half Rebound in Real GDP Expected
According to Jeff Thredgold, CSP, President, Thredgold Economic Associates:
A thrice-annual survey of roughly 45 forecasting economists was released on May 27 by the National
Association for Business Economics (NABE). The NABE survey results for GDP and employment are
noted below...
• The NABE forecast panel expects a further decline in economic activity during the second
quarter, making for the most severe economic contraction in over half a century
• The near-term weakness is largely due to a sharp retrenchment in business investment
• Rising government spending will provide vital support to the economy, as the only major
expenditure area posting positive growth in 2009
• A modest second-half rebound in real GDP is still expected
• Growth in 2010 is slated for a return to near its historical trend, with real GDP rising 2.7% on
a fourth quarter-to-fourth quarter basis
• Labor productivity remains impressive and is expected to improve
Also note that the U.S. Commerce Department in recent days revised its estimate of first quarter
2009 U.S. GDP (Gross Domestic Product, the most complete measure of all goods produced and
services provided within U.S. borders) from a 6.1% real (after inflation) annual rate of decline
to a 5.7% real annual rate of decline.
To view the entire article, please
click here.
June 30 Deadline for U.S. DoT Registration is Quickly Approaching
All Transporters and shippers of dross are required by the U.S. Department of Transportation to
register. Registered as a handler of hazardous material, businesses can complete the U.S. DoT
Pipeline and Hazardous Materials Safety Administration form online by visiting the website by
clicking here and accessing the online
form.
Registration deadline is June 30th, 2009.
Click here to view NADCA’s brief 2.36 minute video on
registration requirements. Avoid potential legal and criminal penalties by following DoT
regulations - click here to watch
additional online video trainings about dross awareness, marking and more.
NADCA Reduces Membership Dues
NADCA is offering Individual Memberships at the lowest price they have been in years! For only
$50, one can purchase an individual membership* --- a $30 savings! As the economy moves from
recession to recovery, the association understands that discounting membership dues is the best
way to retain its position of advocacy for the die casting industry. To emphasize that, the NADCA
Board of Governors voted to lower the cost of membership dues, and suspended the marketing and R&D
assessments for the year. NADCA Individual Members receive Die Casting Engineer magazine,
discounts on training courses,
conferences and expositions as well as on all
publications.
By becoming an individual member, one also gets access
to Chapter affiliation and networking opportunities as well as free downloads from NADCA's
Technical Archive.
Click here today and join NADCA’s 3,000 members! *This
offer is only valid for residents of North America.
Participative Management Advantage – a Way to Improve the Bottom Line
Participative management is a method which gives employees responsibility, accountability and
authority over their work. The method provides simple tools for employees to improve their work
performance and positively impact the bottom line. The process provides an environment to make
employee needs known and creates a vehicle for improved communication between all areas of the
organization. What differentiates this work is that people's recommendations are actually
implemented and acted upon. People solve their own issues and feel empowered within the process of
doing so. Executives and employees learn to redesign their workplace to be participative and
self-managing. This does not mean you do away with management. This does not resemble
laissez-faire management in any way. Managers and employees look at a piece of work and ask what
roles and responsibilities need to be placed within the boundaries of the work in order to achieve
individual and organization goals. To read this entire article from LINKS magazine,
click here.
To view the entire issue of LINKS,
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