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The auto industry loves to find miracle workers. Thirty years ago, Lee Iacocca worked his magic by convincing Congress to deliver a package of loan guarantees that kept Chrysler from going broke. A decade ago, Carlos Ghosn was recruited to save struggling Nissan. Now Sergio Marchionne is being asked to pull together a miracle for the second time.
Fiat CEO Sergio Marchionne declared "the worst has passed" Wednesday after the Italian automaker reported an unexpected, small third-quarter profit on Wednesday.
Fiat and Chrysler CEO Sergio Marchionne said Wednesday that the Italian automaker has begun transferring small-car and fuel-efficient engine technology to Chrysler, which should show results by the end of next year.
Italian automaker Fiat on Wednesday reported its second straight quarterly loss on slumping sales of trucks and farm equipment, while its strong small-car lineup helped stanch the losses thanks to European incentives to scrap old cars and buy new, more environmentally friendly ones.
Fiat, which has recently taken a controlling stake in Chrysler, called Thursday for a "serious restructuring" of the auto industry, saying the global crisis has worsened the problem of production overcapacity.
Fiat's CEO Sergio Marchionne turned around the once-troubled Italian carmaker with a flair for sharply styled small cars and smart industrial alliances — strengths that could come in handy at Chrysler.
Chrysler may have sealed its alliance with Italy’s Fiat, but the automaker still faces the serious challenges, according to analysts. The automaker must integrate operations with its new owner and bridge a product gap until a new line of small cars is available late next year.
Italian automaker Fiat said Tuesday it will not turn its back on a deal to acquire a controlling stake in Chrysler despite a U.S. Supreme Court stay on the sale.
Fiat CEO Sergio Marchionne said Friday that the Italian automaker hasn't given up on Germany's Opel, even though a tentative Opel takeover deal by rival bidders Magna International Inc. and Russia's Sberbank was moving ahead.
Italian officials touted the remake of Fiat's iconic 500 compact as the perfect city car for a new America, a day after a bankruptcy judge gave Chrysler LLC approval to sell most of its assets to the Italian automaker and hours after General Motors entered bankruptcy protection.
It’s an outcome that was nearly unthinkable just six months ago. General Motors, a company once synonymous with America’s industrial might, is following its smaller rival Chrysler into bankruptcy court for a government-forced reorganization.
A federal bankruptcy judge approved the sale of most of Chrysler LLC's assets to Italy's Fiat, moving the American automaker a step closer to its goal of a quick exit from court protection.
A federal bankruptcy judge has approved the sale of most of Chrysler's assets to Fiat, clearing the way for the American automaker to exit court protection shortly.
A top-level meeting on a rescue plan for carmaker Opel was in jeopardy after Italy's Fiat, one of two remaining bidders for the General Motors Corp. unit, said it would not attend in a dispute over financing, a spokesman for Chancellor Angela Merkel said Friday.
Fiat CEO Sergio Marchionne pushed his bid for General Motors Corp.'s Opel unit in talks Tuesday with German leaders, saying he had lowered his request for government financial help.
If General Motors follows Chrysler into bankruptcy court, as many are now expecting, it is likely to be far more painful for both the carmaker and the U.S. economy than its smaller rival’s bankruptcy filing of a few weeks ago.
By the time Chrysler filed for bankruptcy, it already had endured years of hard times. Now the real work begins.
In a perfect world, so the joke goes, the Germans are the mechanics, the Swiss are the timekeepers and the Italians are the lovers.
Fiat Group CEO Sergio Marchionne will become the chief executive of Chrysler after the U.S. automaker emerges from bankruptcy, a Fiat spokesman confirmed Thursday.
Fiat is trying to build a global automaking powerhouse out of parts scavenged from broken-down General Motors and Chrysler.
A Fiat tie-up with General Motors Corp.'s Opel unit would allow "immense" cost savings, the Italian auto maker's boss was quoted Tuesday as saying, arguing the two companies would be a good fit.
Fiat Group SpA will be on the path to becoming a global automotive powerhouse if Chief Executive Sergio Marchionne has his way.
The head of Italian carmaker Fiat SpA, which is in the process of acquiring U.S. automaker Chrysler, is continuing talks with German officials about a possible takeover of General Motor's Opel unit, according to media reports Saturday.
Fiat chief executive Sergio Marchionne is not one to shirk a challenge. He made his name as a corporate whiz in June 2004 when he stepped in to take the wheel of Italy’s then-dying automaker, driving through a swift and vigorous turnaround that returned it to profitability by 2006.
Talks between Chrysler LLC's lenders and the Treasury Department to reduce the automaker's $6.9 billion in secured debt and keep it out of bankruptcy protection have disintegrated, a person familiar with the talks said early Thursday.
America's carmakers make a comeback: Rinsed and raring to go | The EconomistAfter a terrible year there are signs of hope for Detroit
A year after financial crisis, a new world order emerges - Yahoo! News"A New World Order." Prapaganda machine starts to desensitze the public to the term. It also phrases the concept so as it is precieved as already having occured. Not here yet though! Many have tried, the G. W. Bush 41 and 43, Clinton, Regan, far back as Wilson, U. S.
Recently, I've come across a lot of posts on this website that are hypercritical of Obama's efforts to right the US flagship after Bush successfully steered us into an iceberg.
Supreme Court lifts stay on Chrysler dealIn a two-page order, the court said the group of Indian pension funds that appealed the deal had not shown "that the circumstances justify" a stay.
Steeper yield curves Gain in pending home sales would determine whether the sector has bottomed out. Tracking Market Lexicon; Credit Crunch ---> Bail-out ----> Green Shoots Australia leaves Rates unchanged; deflation may prompt further easing.
Chrysler Could Exit Bankruptcy Reorganization as Soon as MondayDETROIT – Chrysler LLC could exit bankruptcy reorganization as soon as Monday, after barely a month in Chapter 11 protection
The Possible Buyers of Opel Opel, the main European unit of ailing US car firm General Motors, is set to be acquired by another company. The three contenders are Fiat, Magna, RHJ International, and late entrant Beijing Automotive Industry Corporation.
Obama Team Writes off $7 Billion that Taxpayers Loaned Chrysler; More Loans PossibleAs part of the company's bankruptcy filing, Chrysler LLC will not repay US taxpayers more than $7 billion it received as part of the company's bailout earlier this year. Instead, the US will get an 8% ownership in a firm whose value continues to deteriorate by the day.
Chrysler seeks quick sale to Fiat; lenders object Chrysler seeks quick sale to Fiat; lenders object
Chrysler Coup: Like a Bad Mafia Moviefeel like I have seen this bad gangster movie before.
Obama Administration Auto Restructuring Initiative: Chrysler-Fiat AllianceOn March 30, 2009, President Obama laid out a framework for Chrysler to achieve viability by partnering with the international car company Fiat.
Banana Republic Capitalism The Chrysler reorganization is shaping up as another milestone in the decline of the rule of law under Barack Obama.
Chrysler Bankruptcy Plan Is Announced Chrysler, the third-largest American auto company, will seek bankruptcy protection and enter an alliance with the Italian automaker Fiat, the White House announced Thursday.
UAW comes to their senses and backs down. UAW comes to their senses and backs down. I supposed faced with the prospect of being kicked to the curb they decided that some percentage of a little is better than some percentage of nothing.
Buyers circle GM Europe as collapsing car market takes General Motors to verge of bankruptcyThe Italian car group Fiat could take over General Motors Europe, including UK-based Vauxhall and Germany's Opel, it emerged today.
US Is Said to Prepare Bankruptcy Filing for ChryslerThe Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler that could come as soon as next week, people with direct knowledge of the action said Thursday.
U.S. to give Chrysler, GM new aidWASHINGTON (Reuters) - The Obama administration will make about $500 million available to Chrysler LLC through the end of this month as it seeks to reach an alliance with Fiat, and up to $5 billion through May to help General Motors Corp restructure outside of bankruptcy, an inde …
The Obama Autoworks At GM and Chrysler, politics is now Job One. March 31, 2009Responding to their plea for $21.6 billion more in taxpayer cash, President Obama yesterday declared "the end of that road" for GM and Chrysler. In the next breath, he seemed to put Washington and Detroit on a new road of politicized industrial policy. So pick your poison.
U.S. Moves to Overhaul Ailing Carmakers WASHINGTON — The White House on Sunday pushed out the chairman of General Motors and instructed Chrysler to form a partnership with the Italian automaker Fiat within 30 days as conditions for receiving another much-needed round of government aid.
FIAT "eco:Drive", tips on how to consume less fuel improving your driving styleThanks to the experience of Ferrari, Fiat introduces an innovative system of "telemetry" similar to Formula 1 to monitor their driving, learn how to improve it to consume less fuel by reducing CO2 emissions: the system is free and available to all holders of a new FIAT.
Chrysler-Fiat Deal Needs U.S. LoansChrysler LLC has found an international partner in Fiat SpA but the auto maker isn't out of the woods, mainly because the deal is contingent on Chrysler getting $3 billion in additional government loans, said people familiar with the pact.
Chrysler and Fiat Announce an AllianceAuburn Hills, MI – Ailing US automaker Chrysler announced today that it has signed a non-binding term sheet to establish a global strategic alliance with Italy's largest auto builder, Fiat S.p.A..
Fiat Acquires 35% Stake in ChryslerFiat left the American market in 1983, after its cars repeatedly ended at or near the bottom of quality surveys (one widely circulated joke within the industry was that the company's name stood for Fix It Again, Tony.) Its sports car brand, Alfa Romeo, left the American market …
Fiat, Chrysler in partnership talks - AutoWeekThis would allow Chrysler to quickly build a new range of front-wheel-drive, low-emission vehicles. Chrysler already has an agreement with Nissan Motor Co. that calls for Nissan to produce a small car based on the Dodge Hornet concept in calendar year 2010.
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