GM Sells Allison Transmission unit for $5.6 Billion

[jamz]

AP - General Motors Corp. said Thursday 6/28 it has agreed to sell its Allison Transmission commercial and military business for about $5.6 billion to the private investment firms The Carlyle Group and Onex Corp. The sale includes seven manufacturing plants in Indianapolis and its global distribution network and sales offices. A production facility in Baltimore, which produces conventional and hybrid transmissions for pickup trucks and sport utility vehicles, will remain with GM.

Source: http://biz.yahoo.com/ap/070628/gm_allison.html?.v=1

[GXP]

Yep, lets just sell it off piece by piece. Give the CEO a 450 million dollar bonus and call it good!

Makes me sick