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Sergio Marchionne

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BUSINESS
January 12, 2010 | By Jerry Hirsch
Can Chrysler be saved? If you ask the steadily confident Sergio Marchionne, the answer is yes. After all, he did something like it before, bringing Italian carmaker Fiat back from financial disaster. Now the Fiat chief executive, who also heads Chrysler, needs to convince North American consumers that the brand is here to stay and that it makes cars and trucks they want to buy. "We aren't going to bank the future of this house on one truck or one vehicle. You can't. We tried that before, and one car won't save the house," he said.
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AUTOS
January 2, 2014 | By Jerry Hirsch
Italian automaker Fiat plans to take full control of Chrysler Group by buying out the shares held by a United Auto Workers union-controlled trust fund. The union and Fiat reached a deal on New Year's Day for the automaker to acquire the 41.5% of Chrysler's shares that were held by the UAW Retiree Medical Benefits Trust. Fiat already acquired the rest of Chrysler's shares through a deal launched during the bankruptcy restructuring of the Auburn Hills, Mich., automaker in 2009.
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BUSINESS
November 17, 2010 | By Jerry Hirsch, Los Angeles Times
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.
AUTOS
September 23, 2013 | By Jerry Hirsch
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.
BUSINESS
May 2, 2011 | Reuters
Chrysler Group reported its first quarterly profit since emerging from bankruptcy nearly two years ago, helped by a revamped lineup of cars and trucks as well as higher vehicle prices. Chrysler's first-quarter net income came to $116 million, compared with a loss of $197 million a year earlier, as revenue shot up 35% to $13.1 billion. The Auburn Hills, Mich., company reported an operating profit of $477 million in the first quarter, compared with $143 million a year earlier.
AUTOS
December 6, 2012 | By Jerry Hirsch
When it comes to bikini models, Fiat has trumped Toyota. It was a surprise earlier this year when the conservative Toyota Motor Corp. used a bikini model in an overseas television commercial selling its Auris, a Corolla variant not sold in the U.S.  The model - nude save for an open jacket and a skimpy bikini bottom - is seen strutting toward the new car.  The model then turns around and viewers discover it's a he rather than a she. In...
BUSINESS
October 28, 2011 | By Jerry Hirsch, Los Angeles Times
Chrysler Group said Thursday that it swung to a profit in the third quarter. The company, which is gradually combining its operations with those of majority shareholder Fiat, the Italian automaker, said it had net income of $212 million in the third quarter, contrasted with a loss of $84 million in the same period a year earlier. "Chrysler is outpacing the industry this year with sales up 26.1% third quarter to third quarter and 23.1% for the year," said Michelle Krebs, an analyst with auto information company Edmunds.com.
BUSINESS
October 29, 2012 | By Jerry Hirsch
Chrysler Group said profits soared in the third quarter, helped by a remake of its product lineup and the introduction of the Dodge Dart compact sedan. The Auburn Hills, Mich., automaker said its net income rose 80% to $381 million compared with the same period a year earlier. Revenue rose 18% to $15.5 billion. “We've changed the conversation at Chrysler Group,” said Sergio Marchionne, the chief executive of Chrysler. “We have revamped our product lineup with such segment-defining models as the Jeep Grand Cherokee and the Chrysler 300.” Marchionne also runs Italian automaker Fiat, which has gradually taken a controlling interest in Chrysler since the automaker's emergence from bankruptcy restructuring in 2009.
BUSINESS
April 27, 2012 | By Jerry Hirsch, Los Angeles Times
Chrysler Group reported its third consecutive quarterly profit and logged its best financial performance in more than a decade. Chrysler said it posted net income of $473 million for the first quarter of 2012, up more than 300% from $116 million a year earlier. The company said the gains were driven primarily by a 40% increase in U.S. retail sales. It was the company's highest quarterly profit since it emerged from bankruptcy in 2009. "Another positive quarter - built on sales gains that have surpassed the industry average - is affirmation that the Chrysler team is maintaining its focus," said Sergio Marchionne, who is chief executive of Chrysler and Italian automaker Fiat.
AUTOS
May 16, 2013 | By Ronald D. White
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.
AUTOS
May 17, 2013 | By Ronald D. White and Jerry Hirsch
Fiat, the century-old Italian automaker, appears poised to move its headquarters to the U.S. after its planned merger with Chrysler Group. The move would be unprecedented in the automotive industry, experts said, because of Fiat's deep roots. "To say that Fiat is pretty entrenched in Italy would be an understatement," said Mike Wall, director of automotive analysis for IHS Automotive. "There is a culture that has been baked in there. " Yet such a move would result from increasing globalization and the need for companies to locate in the biggest auto markets and centers of research and development.
AUTOS
May 16, 2013 | By Ronald D. White
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.
AUTOS
December 6, 2012 | By Jerry Hirsch
When it comes to bikini models, Fiat has trumped Toyota. It was a surprise earlier this year when the conservative Toyota Motor Corp. used a bikini model in an overseas television commercial selling its Auris, a Corolla variant not sold in the U.S.  The model - nude save for an open jacket and a skimpy bikini bottom - is seen strutting toward the new car.  The model then turns around and viewers discover it's a he rather than a she. In...
BUSINESS
October 29, 2012 | By Jerry Hirsch
Chrysler Group said profits soared in the third quarter, helped by a remake of its product lineup and the introduction of the Dodge Dart compact sedan. The Auburn Hills, Mich., automaker said its net income rose 80% to $381 million compared with the same period a year earlier. Revenue rose 18% to $15.5 billion. “We've changed the conversation at Chrysler Group,” said Sergio Marchionne, the chief executive of Chrysler. “We have revamped our product lineup with such segment-defining models as the Jeep Grand Cherokee and the Chrysler 300.” Marchionne also runs Italian automaker Fiat, which has gradually taken a controlling interest in Chrysler since the automaker's emergence from bankruptcy restructuring in 2009.
BUSINESS
April 27, 2012 | By Jerry Hirsch, Los Angeles Times
Chrysler Group reported its third consecutive quarterly profit and logged its best financial performance in more than a decade. Chrysler said it posted net income of $473 million for the first quarter of 2012, up more than 300% from $116 million a year earlier. The company said the gains were driven primarily by a 40% increase in U.S. retail sales. It was the company's highest quarterly profit since it emerged from bankruptcy in 2009. "Another positive quarter - built on sales gains that have surpassed the industry average - is affirmation that the Chrysler team is maintaining its focus," said Sergio Marchionne, who is chief executive of Chrysler and Italian automaker Fiat.
BUSINESS
April 26, 2012 | By Jerry Hirsch
Chrysler Group reported its third consecutive quarterly profit and logged its best financial performance in more than a decade, a turbulent period of changing owners with varied business strategies for the Detroit automaker. Chrysler said it posted net income of $473 million for the first quarter of 2012, up more than 300% from $116 million a year ago. The company said the gains were  driven primarily by a 40%  increase in U.S. retail sales. It was the company's highest quarterly profit since it emerged from bankruptcy in 2009.
BUSINESS
July 27, 2011 | By Andrew Khouri, Los Angeles Times
Ford Motor Co. and Chrysler Group made financial headway in a sluggish economy in the second quarter, increasing sales and slashing debt. Ford sales rose 13% to $35.5 billion, although profits fell 8% to $2.4 billion as the Dearborn, Mich., automaker spent more money on materials such as steel and on designing and building new vehicles. Sales jumped 30% for Chrysler but losses widened to $370 million as the automaker repaid U.S. and Canadian government loans taken out during the financial crisis.
BUSINESS
April 26, 2012 | By Jerry Hirsch
Chrysler Group reported its third consecutive quarterly profit and logged its best financial performance in more than a decade, a turbulent period of changing owners with varied business strategies for the Detroit automaker. Chrysler said it posted net income of $473 million for the first quarter of 2012, up more than 300% from $116 million a year ago. The company said the gains were  driven primarily by a 40%  increase in U.S. retail sales. It was the company's highest quarterly profit since it emerged from bankruptcy in 2009.
BUSINESS
February 1, 2012 | By Jerry Hirsch
Chrysler Groupearned its first annual profit as an independent company since 1997, a sign that the Detroit automaker is recovering from its bankruptcy reorganization and the conflicting strategies of its recent owners. Chrysler said it earned $183 million last year, compared with a loss of $652 million in the prior year. Sales rose 31% to $55 billion. "The house is in good order. We are proud of the work we've done," said Sergio Marchionne, who is chief executive of Chrysler and Fiat, the Italian automaker that owns a controlling interest in the company.
BUSINESS
October 28, 2011 | By Jerry Hirsch, Los Angeles Times
Chrysler Group said Thursday that it swung to a profit in the third quarter. The company, which is gradually combining its operations with those of majority shareholder Fiat, the Italian automaker, said it had net income of $212 million in the third quarter, contrasted with a loss of $84 million in the same period a year earlier. "Chrysler is outpacing the industry this year with sales up 26.1% third quarter to third quarter and 23.1% for the year," said Michelle Krebs, an analyst with auto information company Edmunds.com.
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