October 30, 2012 |
Chrysler Group Chief Executive Sergio Marchionne waded into the presidential campaign Tuesday saying that suggestions by Republican candidate Mitt Romney that the automaker will move Jeep production out of hotly contested Ohio are wrong. A Romney ad running in Ohio says Obama “took GM and Chrysler into bankruptcy and sold Chrysler to Italians, who are going to build Jeeps in China.” Both automakers underwent brief bankruptcy restructurings financed by the federal government in 2009 after other sources of financing to reorganize and sustain the companies became unavailable during the recession.
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.
November 17, 2010 |
On a day when General Motors Co. was expected to re-list its shares on the stock market, the top executive at Chrysler Group was watching and thinking about the timing of his company's reemergence as a public company. He liked what he was seeing. "What's happening with the GM offering only makes me feel better," said Sergio Marchionne. "The pricing is good, and the fact that the market likes it is good. " Marchionne is in Los Angeles to attend the Los Angeles Auto Show, which opened its industry exhibitions Wednesday at the Los Angeles Convention Center.
May 2, 2009 |
Sergio Marchionne is routinely hailed as the savior of Fiat, the man who transformed the Italian automaker from a punch line into a player. The mayor of Turin, the city in northwestern Italy that Fiat calls home, is a fan -- and not only because Marchionne kept the local car factory open and even gave it a fresh coat of paint.
September 23, 2013 |
Chrysler Group filed plans Monday to resume trading its shares on the stock market, part of a high-stakes game its parent company, Fiat, is playing against a big union trust. The stock sale would not be a normal initial public offering, in which a company sells it shares to raise money for its operation or to cash out the founders. Rather, a portion of the automaker, based in Auburn Hills, Mich., would be sold by the UAW Retiree Medical Benefits Trust. The union wants to start to monetize the 41.5% of Chrysler that it acquired during the automaker's bankruptcy and restructuring four years ago. The trust provides medical coverage for about 115,000 retired Chrysler workers and their families.
May 16, 2013 |
Reports out of Europe suggest that Fiat SpA, the 114-year-old Turin, Italy-based automaker, has a headquarters move to the U.S. under consideration. If it happens, the move would likely occur after Fiat's planned merger with Chrysler Group. It would be a stunning and unprecedented decision in the automotive industry, experts said, because of Fiat's obviously deep Italian roots. PHOTOS: Kelley Blue Book's 10 best green cars for 2013 "To say that Fiat is pretty entrenched in Italy would be an understatement.