Allison, acquired by General Motors in 1929 upon the death of company founder James Allison, is the subject of an agreement to sell for 5.6 billion dollars. The buyers? The Carlyle Group and Onex Corp. Under the General's stewardship, the division built many a bus, truck and tank transmission, as well as one of the most important aircraft engines of the Second World War, the V-1710. While overshadowed by the legendary Rolls-Royce Merlin (and its Packard license-built versions) the 1710 powered everything from Gen. Claire Chennault's P-40s of the AVG — better known as the Flying Tigers — to unlimited-class hydroplanes and Bonneville racers. Fare thee well, Allison. Fare thee well.

GM Sells Allison Transmission for $5.6B [Yahoo! News via Autoblog]

Walt & Art Arfons, Jet Car Pioneers [Internal]