good things happen in bad times

General Motors will close Hummer maker of the impractical, ostentatious, and downright ugly shoeboxes on wheels. The company had originally hoped to sell the brand to Sichuan Tengzhong Heavy Industrial Machines company, but the $150 million deal fell through after the Chinese government dragged its feet granting approval.

GM's Vice President of Corporate Planning and Alliances, John Smith was disappointed. I, on the other hand, am elated to see these ugly monsters bite the dust.

This is the third time since GM emerged from bankruptcy protection that a deal to sell an unwanted asset collapsed. That should tell you something. Either GM does not know how do deals, or its assets aren't what they are cracked up to be. Both Saturn and Saab will also bite the dust after deals to unload them collapsed.

GM is also closing Pontiac, although it never tried to sell that business.