HUMMER fans have a new champion in Illinois Senator Roland Burris, who has agreed to investigate GM’s shutdown of the SUV brand according to Hummerguy.net. Attempts to keep the HUMMER brand alive are being fielded by Capital & Labor International Coalition, a recently-founded fund management firm created by Thane Ritchie, founder of Ritchie Capital Management, as well as failed HUMMER bidder Raser Technologies and The Electric Motor Corporation. According to Hummerguy,
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..
Raser’s plan comes down to a single, laughable idea: that HUMMER can survive by selling extended-range electric versions of its H3, according to Fox News. The firm claims an EREV H3 could achieve 32 MPG on the highway, using “proven technology.” The long-rumored H5 compact off-roader also figures into the firm’s plans.
If recent history tells us anything, the combination of eco-friendly vaporware, union backing and a friendly Senator can be enough to make even as bad an idea as this one become reality. We’ll be watching this with interest…