1993 Chrysler Concorde Base Sedan 4-door 3.5l on 2040-cars

Auto blog

Fiat Chrysler's Marchionne being treated in Zurich

ZURICH — Fiat Chrysler Chief Executive Sergio Marchionne was being treated in a Zurich hospital on Sunday with a serious illness after suffering complications following shoulder surgery. A Fiat Chrysler spokesman confirmed Marchionne was in Zurich's University Hospital, one of Switzerland's largest medical centers. The FCA spokesman did not give the 66-year-old Italian-Canadian executive's condition or say in which of the hospital's 43 divisions he was being treated. Italian news outlets said he has been in a coma since Friday, is breathing with the help of a ventilator, and that attempts to have him breath on his own were unsuccessful. Fiat Chrysler named its Jeep division boss Mike Manley on Saturday to take over immediately from Marchionne, who had been due to step down next April. SGS, the Swiss logistics services company, also announced on Sunday that it had named a new acting chairman to take over for Marchionne, since his illness prevented him from fulfilling the role's obligations. SGS said in a statement it was "deeply saddened" by the news, as did Lausanne, Switzerland-based Philip Morris International, where Marchionne is also on the board. Marchionne was credited with rescuing Fiat and Chrysler from bankruptcy after taking the Italian carmaker's wheel in 2004. On Saturday he was also replaced as chairman and CEO of Ferrari and chairman of tractor maker CNH Industrial — both spun off from FCA in recent years. In additional management changes linked to Marchionne's illness, Ferrari named FCA Chairman and Agnelli family scion John Elkann as new chairman and Louis Camilleri becomes chief executive. Reporting by John Miller in ZurichRelated Video: Image Credit: Reuters Chrysler Ferrari Fiat US

Chrysler stays IPO until 2014

There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Not surprisingly, the issue with the Chrysler IPO is the same as it's always been - a disagreement between parent company Fiat, which owns 58.5 percent of the Chrysler Group and a UAW healthcare trust, which owns 41.5 percent. Fiat wants to buy out the UAW VEBA healthcare trust, which is responsible for shouldering retiree healthcare costs, but the two sides are hung up on an actual price tag for the remaining two-fifths of the company.
The original idea saw an IPO as a way of setting a fair market price for the remaining shares, although it's not entirely clear what broke down and led to a delay of the IPO plan. As Forbes points out, by waiting until 2014, Chrysler could be risking a cool-off in the IPO market, which could mean less money in its pocket when the automaker finally goes public.

1950s car ads are timeless

Usually around the Super Bowl a few great car commercials show up, but for the most part auto ads today pale in comparison to the '1950s and '60s. In an era with a truly viable magazine industry, automakers would take out gorgeous full-page spreads to get the word out about their wares. It was also a time when imports were just hitting the US, and there was a boom in sports cars. Car and Driver has gone for a dig into its advertising archives from when the book was known as Sports Cars Illustrated for a truly great viewing experience. You can imagine a young Don Draper mulling over the copy for these ads, but some of it is laughably quaint today. For example, there's a great image of a driver whipping an Austin-Healey 100 around a track. The italicized red text proudly proclaims, "From 0 to 60 MPH in 10.5 seconds." One of the beautiful parts about these advertisements is that you seldom see photos of the cars. Instead, there are often detailed drawings that slightly distort the vehicles' lines. With this approach, the Porsche 356 ends up looking far more curvaceous than in real life. Plus, the front end of the Chrysler 300 looks large enough to land a helicopter on. The whole thing is worth scrolling through. There are some fascinating glimpses into auto history like an ad for Abarth exhausts before the brand was just known for tuning Fiats. Related Video: News Source: Car and DriverImage Credit: GM Heritage Center Marketing/Advertising Read This Chrysler Fiat Porsche Performance Classics porsche 356 abarth