November 8, 2004 |
The last Fiat 500 -- the tiny car with the big personality -- rolled off assembly lines nearly 30 years ago. But it's still fighting retirement. With more than 600,000 Fiat 500s out on the roads, two Italian senators are pushing a bill to make sure the beloved mini-car that thrust Italy into the motor age isn't done in by modern antipollution laws. Sens.
June 2, 2004 |
Fiat quickly plugged a power vacuum in its upper ranks Tuesday when it named turnaround expert Sergio Marchionne to be its fifth chief executive in two years. Marchionne, who was CEO of Swiss testing services firm SGS and a Fiat director, immediately pledged to stick to the turnaround plan drawn up by his predecessor, Giuseppe Morchio, who quit unexpectedly Sunday. "The plan was approved by the board.
May 10, 2004 |
Union leaders announced a tentative accord Sunday in the three-week strike at a Fiat factory in southern Italy that has cost the automaker tens of thousands of vehicles just as the company was trying to bounce back after years of losses. Labor leaders expressed satisfaction over the accord, reached after one of Italy's longest and more violent walkouts in years. "We'll sign the pact after the workers approve it," said Gianni Rinaldini, secretary-general of the FIOM metalworkers' union.
July 3, 2003 |
Fiat, Italy's largest manufacturer, agreed to sell its aerospace unit to Carlyle Group Inc. and Finmeccanica for $1.7 billion, as the company raises money to turn around its carmaker. The offer prices FiatAvio at $100 million less than the bid made in April by the U.S. buyout firm and Finmeccanica, Italy's largest defense company, and comes amid consolidation in Europe's aerospace and defense industries.
June 27, 2003 |
Fiat plans to slash 12,300 jobs worldwide over the next three years and close a dozen factories -- part of a turnaround plan aimed at returning the struggling conglomerate to profitability in 2006. The three-year, $22.5-billion investment plan was seen as the company's last chance to remain afloat, after years of slumping sales in Italy and Western Europe. The job cuts will be made at the money-losing core unit Fiat Auto, truckmaker Iveco and tractor-and-earthmoving equipment maker CNH Global.
CALIFORNIA | LOCAL
January 25, 2003 |
He was often called Italy's uncrowned king, the erstwhile playboy who wielded unparalleled power and fortune as he transformed his family car business into one of the largest industrial empires in Europe. Giovanni Agnelli, glamorous patriarch of the Fiat auto conglomerate and an icon in Italian social and cultural history, died at his home in Turin after a long battle with cancer, his family said Friday. He was 81.