Tag Archives: sergio marchionne

Gravely Ill Sergio Marchionne out at Fiat Chrysler Automobiles. Trucker Mike Manley now CEO

Posted on 23 July 2018 by Ken Zino

“In the meantime, to provide for his full authority and operational continuity for the company, the Board has with immediate effect granted Mr. Manley all the powers of CEO. He will also assume responsibility for the NAFTA region. Continue reading →

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Fiat Group Doubles Q3 Profit to €286 Million. Revenue €951 Million

Posted on 30 October 2012 by Ken Zino

The Fiat Group in Turin today recorded a Q3 profit of €286 million or $371 million (2011 €112 m) as Chrysler earnings in North America offset losses in Europe. Without Chrysler, Fiat would have lost -€281 million in the quarter. Continue reading →

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Dodge Dart Debuts Using First Fiat Architecture. More on Way

Posted on 12 January 2012 by Ken Zino

The U.S. Dart is in many ways similar to the original Ford Focus (C170) that was derived from a European Ford design a decade ago. And Dart faces the same challenges as well. Though bigger than that Focus – a decided plus in North America, and with much more content – it remains to be seen if Dart’s U.S. suppliers can rise to the quality challenge posed by competing small Japanese and Korean cars. Continue reading →

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Chrysler UAW Reach Tentative Deal

Posted on 12 October 2011 by Ken Zino

Chrysler the smallest of the Detroit Three has agreed to a Chrysler UAW contract it was announced this morning. The UAW Chrysler proposed agreement includes $4.5 billion of investment to produce new models and upgraded vehicles and components by 2015, all of which will be invested directly into retooling and upgrading plants. At first look it appears to be a major victory for Sergio Marchionne, CEO of the Italian-controlled company, who was determined to hold the line on costs, which because of the U.S. government forced bankruptcy in 2009 are at $49 an hour – competitive with non-union auto plants. Continue reading →

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Chrysler to Pay off $7.5 Billion in U.S., Canadian Bailout Loans

Posted on 20 May 2011 by Ken Zino

It is primarily the interest on government loans – $1.23 billion – that prevented Chrysler from earning a profit during 2010 and resulted in an overall loss for the year of $652 million. So decreasing interest rates should improve earnings, a necessary precursor for the public offering of Chrysler stock later this year or early next. Continue reading →

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Chrysler Posts First Profit Since 2009 Taxpayer Bailout

Posted on 2 May 2011 by Ken Zino

It is primarily the interest on government loans -$1.23 billion – that prevented Chrysler from earning a profit during 2010 and resulted in an overall loss for the year $652 million. Chrysler has announced that it intends to pay back those loans by June of this year by refinancing them through a combination of bonds and debt in private equity placements. Continue reading →

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