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Marchionne to take his sweater and go home after 2018

The end is in sight for Fiat Chrysler boss Sergio Marchionne, who confirmed in an interview with Bloomberg that once FCA's sweeping five-year plan is completed, he'd be stepping down from his post to "undoubtedly" do something else that didn't involve turning around global corporations. That would mean he should finish up after 2018 if all goes according to plan.
"It's as important to walk away from the table as it is to sit down," Marchionne told Bloomberg.
Marchionne has been at Fiat since June of 2004 and is one of the chief architects behind the Italian company's acquisition of Chrysler. Despite his successes, he does sound quite ready to move beyond the auto industry, rhetorically asking his Bloomberg interviewers if there "are other things I like to do apart from this?"

Is your new-car warranty good at the race track?

We've all heard the horror stories. Your buddy knows a girl that was dating a guy whose best friend's brother once broke his brand-new, recently purchased performance car while making runs at a drag strip or laps at a track day, and the manufacturer wouldn't cover the repair under warranty. True story? Urban legend? Complete crap? Yes, no, maybe. One thing's for sure: Automotive warranties have always come with caveats. In 1908, an ad in the Trenton Evening Times clearly stated: "All Ford Cars Guaranteed for One Year." Although it changed over time, by 1925 the Ford New Car Guarantee only covered 90 days on material and 30 days on labor, and it clearly stated that that there was "No guarantee whatever on Fan Belts, Glass, Bulbs, Wiring, Transmission, Bands, Hose Connections, Commutator Shells, Rollers, Spark Plugs or Gaskets." Whether or not Ol' Henry would pay to fix your Model T if you broke it shaving a tenth off your lap time at the local board track seems to be lost to history. We're guessing no. But what about today? Do new-car warranties in 2017 cover cars when they are driven on race tracks? We researched the warranties of 14 auto brands to find out, and the answer is yes, no, maybe, depending on the brand, in some cases the model, and whether or not your car is modified from stock. Acura has been out of the high-performance car game for a number of years, but jumps back into the party in 2017 with its hybrid-powered $173,000 NSX supercar. And Acura's warranty, as well as Honda's, clearly states that it does not cover "the use of the vehicle in competition or racing events." View 33 Photos So we asked Sage Marie, Senior Manager of Public Relations for Honda and Acura. "If the car is stock, the warranty covers it on a track just as it does on the street. No question," he told us. "However, if the car is modified, say with slick tires or other components that would put higher stresses on the vehicle's parts and systems, then we would have to investigate the circumstances further." Marie went on to say the same would be true for any Acura model or Honda vehicle, including the new 2017 Honda Civic Si. This became a common theme. Chevrolet actually started this practice with the fifth-generation Camaro on the high-performance ZL1 and Z/28 models.

Fiat Chrysler's UAW members ratify new four-year contract

DETROIT — The United Auto Workers union said on Wednesday that rank-and-file members at Fiat Chrysler Automobiles NV have voted in favor of a new four-year labor contract with the automaker, helping the Italian-American firm avoid a strike as it works to merge with France's Groupe PSA. FCA and PSA, the maker of Peugeot and Citroen, in October announced a planned $50 billion merger to create the world's fourth-largest automaker. FCA's 47,200 rank-and-file UAW members voted 71% in favor of the new contract. The deal follows contracts the UAW already concluded with larger rivals General Motors and Ford. “Every full-time production employee currently at FCA will be at top rate by the end of this four-year agreement,” Cindy Estrada, UAW vice president and director of the union's FCA department, said in a statement. She added that all temporary workers also have a path to full employment. “We are pleased to have reached a new agreement that allows us to continue our record of adding good-paying UAW-represented jobs,” FCA North America Chief Operating Officer Mark Stewart said in a statement. Ratification of the contract had not been viewed as a sure thing, as union members at FCA in 2015 rejected the first version of a contract. In addition, a federal corruption probe related to embezzlement at the union drew attention. The federal corruption probe led GM to file a racketeering lawsuit against FCA, alleging its rival bribed union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars. FCA has brushed off the lawsuit as groundless. The contract with GM that was ratified by workers in October followed a 40-day strike in the United States that virtually shuttered GM's North American operations and cost the automaker $3 billion. The UAW has said the contract with FCA included a commitment by the automaker to invest $9 billion, creating 7,900 new jobs over the course of the contract. Of the $9 billion, $4.5 billion was announced earlier this year, to be invested in five plants and creating 6,500 jobs. The investments include $2.8 billion at Warren Truck Assembly plant in Michigan to build a new a plug-in hybrid SUV in 2021 and a potential increase of 1,500 jobs.