In two venues, Chrysler and Fiat Auto CEO Sergio Marchionne repeated his desire to have Fiat and Chrysler joined as a single company, through a flat buyout of the retiree health care trust fund (VEBA)’s stake in the company. Earlier he had said that there was a 50-50 chance of an IPO, which would let the VEBA use the markets to set a price on their shares (at the cost of substantial attorney and advisor fees), but that he would prefer an outright buyout. Even if there is an IPO, Fiat intends to buy as much of Chrysler as it can, making Chrysler stock a good bet for speculators.
Currently, the VEBA owns 41.5% of Chrysler, but it needs cash to meet its continuing obligations to retirees. Today, from Geneva, Marchionne said that he had been in discussions with a number of bank “CEOs and chairmen who want to help” to finance a buyout of the VEBA’s share.
Which path a deal will take is, according to Marchionne, not likely to be clear until the third quarter of this year.
The Ram 1500 faced down the aluminum-bodied Ford F-150 and new Chevrolet Silverado in Motor Trend’s half-ton truck shootout. The three contenders were put through a broad array of testing, including a 260-mile drive through California and Arizona. Measurements included: Testing without load: 0-60 mph and 1/4-mile acceleration, 60-0 mph braking, and maximum lateral grip (Ram was Limits-handling without load: closed-course cornering, braking, [...]
The 2015 Dodge Charger squad has been tested in police trim for the first time, but since it kept the five-speed automatic, it has turned in numbers similar to past years. While the eight-speed V6 Charger does 0-60 in 6.6 seconds, the five-speed was timed at 8.05 seconds by the Michigan State Police. The civilian 2015 Charger gained acceleration from the eight-speed, [...]
Months after unconfirmed reports made it to Allpar’s pages, the power of Automotive News, in the person of reporter Larry Vellequette, pried a key fact from Chrysler executives — that they cast and build “Ferrari” engines for Maserati. As our sister site pentastars.com reported, the engines are actually cast in Kokomo, and machined in the Trenton Engine plant, using a mixture of [...]