GM Puts Hummer Up For Sale

With its stock trading at historic lows and demand for trucks in freefall, General Motors has announced that the Hummer line is now for sale.

GM is still manufacturing trucks under the Chevrolet, GMC, and Cadillac monikers for the time being, but that may change as the automaker continues to cut production in response to declining demand.

In addition, GM has also announced that it will reduce its white-collar workforce, suspend dividends, make further production cutbacks, and reduce spending on marketing.

All of which, except for the last item, makes sense. When times are tough, you don't decrease your marketing, you increase it.

Overall, GM is hoping to reduce spending by close to $10 billion and bring in another $4-7 billion from asset sales and new financing.