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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.

Sega's 'Hummer Extreme Edition' may be the most 2000s arcade racing game ever

There's a reason GM is leaning on the Hummer name for its upcoming electric truck, and it's because it has amazing name recognition. No matter who you are, you know the name, and there's probably a lot of imagery you associate with it, both good and bad: big, brash, capable, in-your-face. Of course a lot of this was in vogue in the 2000s, so it shouldn't have come as a surprise that there was an entire arcade game based on the brand called "Hummer" and "Hummer Extreme Edition" by Sega. Though, ironically, it launched in 2009, just as Hummer was near its death. And, man, this game sure exemplifies the brand. There were a number of different form factors for the game, all of which involved a car seat, wheel and pedals, and they all had bright yellow paint and some representation of the brand's most polarizing model, the H2, sitting over the screen or behind the seat. Some flyers indicate that some machines could be had in less garish black, green or red colors, but we doubt they were as popular. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Watching actual gameplay, captured by YouTube user iPlaySEGA, "Hummer Extreme Edition" appears to stay true to the brand identity with the SUVs smashing through big outdoor race courses. There's a big emphasis on the smashing part, as that, along with jumps and stunts rewards the driver with extra boost to get ahead of the competition. Players have a choice among the H1, H2 and H3, and each one has modified variants with either meaty tires and brush guards, or slammed on giant wheels with neon and sound systems. According to a description from arcade machine vendor Primetime Amusements, the machine featured four tracks, the ability to link up to four machines for multiplayer, a force-feedback steering wheel and a 32-inch LCD display. Since the game was launched in 2009, it may be difficult to find an example at a local arcade, but it seems like one worth keeping an eye out for. It is possible to purchase one used from various online arcade retailers. A British retailer called Liberty Games is offering a two-person setup for the not unsubstantial price of 9,999 pounds, which comes to just over $13,000. We'd recommend looking for an arcade with one, or, at that price, actually buying a real Hummer H2. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.    

Autoblog's Editors' Picks: Our complete list of the best new vehicles

It's not easy to earn an “EditorsÂ’ Picks” at Autoblog as part of the rating and review process that every new vehicle goes through. Our editors have been at it a long time, which means weÂ’ve driven and reviewed virtually every new car you can go buy on the dealer lot. There are disagreements, of course, and all vehicles have their strengths and weaknesses, but this list features what we think are the best new vehicles chosen by Autoblog editors. We started this formal review process back in 2018, so there's quite of few of them now. So what does it mean to be an EditorsÂ’ Pick? In short, it means itÂ’s a car that we can highly recommend purchasing. There may be one, multiple, or even zero vehicles in any given segment that we give the green light to. What really matters is that itÂ’s a vehicle that weÂ’d tell a friend or family member to go buy if theyÂ’re considering it, because itÂ’s a very good car. The best way to use this list is is with the navigation links below. Click on a segment, and you'll quickly arrive at the top rated pickup truck or SUV, for example. Use the back button to return to these links and search in another segment, like sedans. If youÂ’ve been keeping up with our monthly series of the latest vehicles to earn EditorsÂ’ Pick status, youÂ’re likely going to be familiar with this list already. If not, welcome to the complete list that weÂ’ll be keeping updated as vehicles enter (and others perhaps exit) the good graces of our editorial team. We rate a new car — giving it a numerical score out of 10 — every time thereÂ’s a significant refresh or if it happens to be an all-new model. Any given vehicle may be impressive on a first drive, but we wait until itÂ’s in the hands of our editors to put it through the same type of testing as every other vehicle that rolls through our test fleet before giving it the EditorsÂ’ Pick badge. This ensures consistency and allows more voices to be heard on each individual model. And just so you donÂ’t think weÂ’ve skipped trims or variants of a model, we hand out the EditorsÂ’ Pick based on the overarching model to keep things consistent. So, when you read that the 3 Series is an EditorsÂ’ Pick, yes, that includes the 330i to the M3 and all the variants in between. If thereÂ’s a particular version of that car we vehemently disagree with, we make sure to call that out.