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Humvee maker AM General reportedly for sale, with interest from FCA, GM

WASHINGTON — AM General has put itself up for sale and has hired investment bank Macquarie Group Ltd to seek potential bidders in a deal that could value the builder of Humvee military vehicles at more than $2 billion, people familiar with the matter said this week. Potential bidders include competitors in the military ground vehicle market, such as General Dynamics, Oshkosh Corp and BAE Systems, according to two people familiar with the matter. Automakers like Fiat Chrysler and General Motors may also be potential buyers. GM licensed Hummer from AM General in 1998 to build civilian SUVs. None of the companies would comment or reply to a request for comment. The South Bend, Indiana-based AM General is currently owned by private equity firms. A possible sale of AM General follows a rash of deals over the past 18 months among defense contractors. But relatively fewer makers of defense equipment have gone on the auction block. Last year, United Technologies acquired Rockwell Collins for $30 billion, and in March, TransDigm Group continued its acquisition spree with a $525 million deal for Extant Components Group. AM General could fetch about 10 times its annual earnings of $160 million, one of the people said. The company's favorable tax treatment because of its current status as an limited liability corporation, would allow a buyer to reduce the company's taxable earnings for 15 years. That coupled with recent contract awards could push the ultimate value of the company to over $2 billion in a sale. The sale, should it happen, comes as the U.S. Army is gearing up for a broad effort to modernize its forces, including seeking prototypes of its Next-Generation Combat Vehicle in fiscal year 2022. Last month, AM General was awarded an Army contract for as many as 2,800 new M997A3 High Mobility Multipurpose Wheeled Vehicle (HMMWV) ambulances. The contract could be worth as much as $800 million if all options were exercised, AM General said at the time. Last year, the Pentagon awarded AM General a $550 million contract to deliver HMMWVs for use as protected weapons carriers, cargo transporters and ambulances to Afghanistan, Iraq, Ukraine, Jordan, Slovenia, Bahrain, Columbia, Bosnia and Kenya as a part of a larger Foreign Military Sales agreement. The sale of AM General offers an opportunity to purchase a prime contractor that delivers a finished product to the Pentagon, and not just an add-on system or service.

Picture yourself rolling in Tupac Shakur's 1996 Hummer

UPDATE: Tupac Shakur's Hummer blew away estimates, selling for $337,114 according to the auction site. It's been nearly 20 years since the renowned rapper Tupac Shakur was gunned down at the height of his fame. One of the last vehicles he ever purchased, this 1996 AM General Hummer in a four-door pickup configuration, is now being sold by RR Auctions. Since 1996, it hasn't covered much ground. The odometer reads just 10,101 miles. A bunch of upgrades, like driving lights, a sound system and external PA, and diamond-plate bumpers, are present and were allegedly added by Shakur. The Hummer has a 6.5-liter turbodiesel V8 and automatic transmission. According to the seller, after being owned by Shakur and then, after his death, his mother Afeni Shakur, the Hummer went through a variety of owners. This includes BET, which gave the car away during a raffle in 2003, the owners of Havenotz Entertainment, and the mother of the rapper Yaki "Prince" Kadafi who was a "godbrother" of Shakur. The included vanity plate reads "YAKNPAK", a nod to both Kadafi and Shakur. The vehicle is currently in Canada. Bidding opens on May 12th and ends on May 19th, and RR Auctions estimates it'll sell for more than $100,000. Related Video: News Source: RR Auctions Celebrities GM Hummer Auctions SUV Diesel Vehicles Off-Road Vehicles

Robby Gordon withdraws from 2016 Dakar after stupid accident

Accidents are bound to happen in motorsports, and for that very reason, modern racing vehicles are built to a very high standard of safety. Unfortunately, the accident that caused Robby Gordon to withdraw from the 2016 Dakar Rally involved a road-going Hummer H2 driven by members of the American racing driver's support staff – a vehicle without racing harnesses or roll cages. As the video above shows, this is one accident that was completely avoidable. According to news reports flowing out of Argentina, Gordon had already finished the 13th and final stage of Dakar and was driving his HST Gordini competition truck on a highway headed to the podium where all the back-patting, trophy presentations, and champagne sprays typically happen. Along the way, someone from Gordon's crew decides to pass some bottles and paper bags, window-to-window, from a support vehicle to Gordon's race machine. At about 80 miles per hour. Does that sound like a bad idea to anyone else? And a bad idea it ultimately was. Gordon swerved one too many times to get closer to his support car, coming into contact with it and causing what looks to be a pretty bad accident. Making matters worse, a member of Gordon's team was hanging halfway out of an open window with bottles in hand at the time of the accident. Reports indicate there were two injuries. Thankfully, everyone will apparently recover. It's not clear where exactly Gordon would have finished had he not withdrawn. It is clear, however, that this was a stupid maneuver that never should have happened. For those keeping track, this latest incident isn't the first time Robby Gordon has been involved in an off-road rally accident, having injured a spectator in the 2015 Baja 500. According to Autoblog.com.ar (no relation), Gordon's Dakar accident is under investigation. News Source: Autoblog.com.ar, YouTube Motorsports Hummer Safety Racing Vehicles Videos Dakar Rally robby gordon