As the World Turns...

 

As the World Turns...

You just HAD to tempt me, didn't you? 😊

 

Geez. Can I get $100M to shut up, too? Unbelievable.

This is NOT going to end well. Not just for Elkann and family, but for Stellantis overall.

 

Honor among thieves. No one should get a payout for failure.

 

Geez. Can I get $100M to shut up, too? Unbelievable.

This is NOT going to end well. Not just for Elkann and family, but for Stellantis as well.

Prepare to hear lots of rumors going full speed ahead, mainly the one featuring Luca De Meo. As for the unexepected candidate, will they put a José Lopez? I hope they won't do what GM did when they hired John F. Smith (not related to Roger B. Smith), CEO of Procter & Gamble as GM chairman.

As the World Turns...

I guess Tavares will go to the other Carlos' hideout, Carlos Ghosn.

 

Prepare to hear lots of rumors going full speed ahead

Speaking of rumors...(at least according to some of the YouTube CT / STLA hating gas-bags)...supposedly any number of corporate raider type investment firms are busy buying up as many STLA shares as possible in expectation of future chaos and calamities at the company. 💲💲💲

 

 

@jsucha @valiant67
Still want to blame the W/GW for the lack of involvement in other segments?
This company obviously has money. Refusing to invest in the business of developing and building cars, ironically what they're supposed to be doing, has nothing to do with the W/GW.

 

Why do people who run companies into the ground get rewarded? It happens all over and it makes no sense. Stellantis, Boeing, federal government....

 

Bob Eaton...

 

In the words of that smart person who coined the phrase, "Good riddance to bad rubbish"!

 

I've been discusing this particular article for a while. Three things don't make sense from that source:

1. How would Tavares receive a stake in Maserati when it’s wholly incorporated within Stellantis? It’s not like that brand has been spun off.
2. One the board’s biggest jobs is to project stability. Just weeks ago they were saying they’re going to fully back Tavares until his contract expiration. The normal time to take the hit for separating a CEO was at that last board meeting. At the very least, they shouldn’t have released that statement if this rumor is true.
3. That article states Imparato was taken off Alfa due to poor sales. That is not even true - he was lauded for Alfa’s profitability and given an even bigger job as the Euro COO. His new role was not a demotion.

I'm skeptical of this one. I do expect Tavares' successor to be named sooner rather than later though.

 

Perhaps it means Tavares will get €100M paid in Maseratis....

 

Someone who understands American auto market please. Or at least someone who will delegate to someone who does.

 

I'm not sure that current leadership understand any market. It's not that things in Europe are going smooth. They're losing both profits and market share there and supposedly PSA side of the company was the one which understood European market.

 

That payout could better be used for rebates on slow selling models, keeping 100's of workers with a paycheck for months, investments in plants.

 

These next few months should prove interesting.

 

Hmh


U think that it was last year when I first heard the rumors that Elkann is not satisfied with Carlos' performance and that he is seeking how to get rid of him

 

All Elkann cares about is profit, no matter how they achieve it.
Elkann endorses criminal behavior to achieve his profits.

Tavares does not want to go to prison for doing Elkann's dirty work. Sergio would have gone to prison over the UAW bribery scandal if he lived.

I think this is why so many long-term executives are retiring and running away from this company.

I agree with @serpens that most of this story does not pass the smell test. I do believe Tavares wants out as soon as possible. The rest is stupid (shares in Maserati).

 

All Elkann cares about is profit, no matter how they achieve it.
Elkann endorses criminal behavior to achieve his profits.

Tavares does not want to go to prison for doing Elkann's dirty work. Sergio would have gone to prison over the UAW bribery scandal if he lived.

I think this is why so many long-term executives are retiring and running away from this company.

I agree with @serpens that most of this story does not pass the smell test. I do believe Tavares wants out as soon as possible. The rest is stupid (shares in Maserati).

I agree with everything but Sergio going to prison. We make exceptions for the rich and famous.
... and given the timing he may have gotten a presidential pardon like that Miami Medicare grifter did. (Okay, a commutation following a bribe.)

I don't know if Tavares wants to go. If he did they would not need to pay him €100 million.

 

We might be witnessing a clash of cultures unfolding here.

I am 3/4 Italian; 1/4 French. Tax evasion is a national pass-time in Italian culture; not so in French.

Giving Elkann the benefit of the doubt, he might be doing what any self-respected Italian would do: evade taxes to the full extent, even if it tests the limits of the law.

Tavares might be seeing all of this from Paris and thinking "none of this will fly here. I want out."

 

We might be witnessing a clash of cultures unfolding here.

I am 3/4 Italian; 1/4 French. Tax evasion is a national pass-time in Italian culture; not so in French.

Giving Elkann the benefit of the doubt, he might be doing what any self-respected Italian would do: evade taxes to the full extent, even if it tests the limits of the law.

Tavares might be seeing all of this from Paris and thinking "none of this will fly here. I want out."

I really don't think it's quite as pronounced as you might think.

I'm sure there are some degree of differences in culture but basically these are both Southern European countries.

It might just be me, but I have always believed that the nations of Europe which understand each other better include Greece, Spain, Italy, Portugal and France.

To me, "Clash Of Cultures" really means what the former ChryCo. suffered during The Occupation.

 

As a fan of the company as it used to exist, this sums up my feelings about the whole situation.

 

Wake me when this company ends up getting sold to the Chinese.

 

I predict that they will do another merger to keep everything from settling down.

 

Yes, there's also Alfa Romeo Automobiles S.p.A. and so on. 100% Stellantis owned – or Stellantis Europe S.p.A. in the first step.

It looks like the rumour source article is gone now. Never heard of affaritaliani.it before.

 

Yup. Weird.

Either it was flagged as disinformation, or Elkann sent a Cease and Desist...

 

For anyone from China...

I doubt these brands, all of which were once sold here, have any trademark ownership:

Hudson, Nash, Maxwell, Humber, Hillman, Willys, Overland, Bantam, Jeffery, Chalmers, Pierce, Arrow, Flint, Durant, Dort, Locomobile, Brush, Ricker, Dayton, Detroit, Sampson, Thomas, Fargo, Graham, Electrobat, Courier, Stoddard, US Motor Company

Maxwell would be fine for electrics given Maxwell’s place in the pantheon of electric greats. That is, Maxwell the Scottish scientist, not Jonathan. Faraday's taken, sadly; he was also one of the greats, Edison’s own hero. Edison's taken, too, but he's been slandered so much by the Tesla-lovers there's not much reputation left. (Nearly all the slander, needless to say, is untrue. He was a lousy father to his first son; his second son dealt with him better. The Edison battery, meant for electric cars originally, was quite a success and required years of work and his entire fortune.)

Names I would not use but which are probably available: DeSoto, Columbia, Northern,

I suspect these would be cheap to buy:

Packard, Studebaker, Imperial


I agree regarding how handy a dealer network might be but it's also a liability in the long run.

 

Do you need the dealer network anymore or has Tesla/Fisker/Rivian paved the way for not needing dealers?

 

As if STLA didn't have enough bad news to deal with already...now the Government of Italy is turning off the money spigot to the Italian auto industry (such as it is):

https://finance.yahoo.com/news/italy-plans-reduce-automotive-industry-131020952.html

 

I think that's good news for Stellantis. Now they have more reason to continue minimizing their Italian production.

 

3 contenders for the job...

 

Stellantis sues Brose as battle with auto suppliers expands