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Marchionne completed Fiat-Chrysler deal from a Florida beach

Sergio Marchionne is the CEO of Fiat, which as you may have heard, has finally worked up a deal to finish acquiring the Chrysler Group after months of bargaining with the United Auto Workers and its VEBA healthcare trust, which owned just over 40 percent of the American brand. Where was Marchionne when the deal was finally hammered out? Well, not tucked away in a frigid Detroit board room until the wee hours of the morning.
Nope, one of the largest deals in automotive history was reportedly hammered out on the beach - at the home of a banker, in the Florida resort town of Vero Beach. Marchionne traveled to the home of Alain Lebec, a senior managing director at Brock Capital LLC, one of the advisory companies for the VEBA fund, where both sides met to make final arrangements in the $4.35-billion exchange. The location of the final deal, though, is nearly as remarkable as the pace with which it came about.
According to anonymous sources pinned down by Automotive News Europe, before the meeting, the two sides were meeting in Detroit as recently as December 19, which is where Fiat made one of its final revised offers. Naturally, the VEBA made a counter offer, which led Marchionne to initiate the Vero Beach meeting.

FCA registers 'Cuda' trademark, but we wouldn't get our hopes up

It seems Chrysler has submitted a trademark with the US Patent and Trademark Office for the name "Cuda," as first reported by Motor1. Fans of Mopar will instantly recognize this as the abbreviated name of Plymouth's classic Barracuda muscle car, which occasionally bared the shortened nomenclature. Though this might seem like a sign that FCA is considering a revival of the beloved machine, we wouldn't get our hopes up. See, rumors of a 'Cuda or Barracuda revival have circulated pretty much since the moment Dodge showed the modern Challenger and when it went on sale. And some of those rumors have involved the re-registering of the 'Cuda trademark, even as far back as 2010. Over the years, each rumor died a quiet death as time went on and no 'Cudas appeared on dealer lots. There is one rumor that's recent enough to still have a slim chance of realization, circa 2015 to be exact. It predicts a smaller Challenger-based car called Barracuda that could appear as a Dodge in both coupe and drop-top versions. However, we doubt it will come true, since FCA doesn't exactly have a large development budget, and we're not sure what the company would have to gain by making another sports car to sell below the Challenger. Odds are, it would cannibalize sales from the older, completely developed, and thus more profitable Challenger. Really, this trademark filing is probably just a defensive move for Chrysler. It will ensure that no one else can slip in and snag the name for their own vehicle. It should also help ensure that Chrysler has the rights to use the name on other products such as memorabilia. Sorry to crush your dreams. Related Video: News Source: US Patent and Trademark Office via Motor1Image Credit: Chrysler Rumormill Chrysler Dodge Coupe Performance hemi cuda

Ford delays North American production restart from coronavirus lockdown

Ford said on Tuesday it was postponing its plan to restart production at its North American plants due to safety concerns for its workers amid the coronavirus pandemic. To generate cash, the No. 2 U.S. automaker had said last week it was poised to restart production at some plants in North America as early as April 6, bringing back such profitable vehicles as its top-selling F-150 full-sized pickup, the Transit commercial van and SUVs. But on Tuesday, Ford said it had been aiming to resume production at several key U.S. plants on April 14, but would now instead do so at dates it would announce later on. "The health and safety of our workforce, dealers, customers, partners and communities remains our highest priority," Kumar Galhotra, president of Ford's North American operations, said in a statement. Still, the automaker will open a plant in Ypsilanti, Michigan, during the week of April 20, that will make ventilators to treat patients afflicted by the coronavirus. Rival Fiat Chrysler Automobiles said last week it plans to resume production in North America on April 13. General Motors has shuttered its plants indefinitely and has not provided a date for vehicle production to restart. It is facing a delay in the production launch of its redesigned large SUVs and is delaying work on other SUVs. "Once it is safe to resume production, we will do so," a GM spokesman said. As of Monday, Volkswagen was shooting for an April 5 reopening at its Tennessee plant. Honda, Nissan and Subaru facilities in North America will remain closed through April 6, and Hyundai through April 10. Toyota was planning to reopen its North American plants April 17. Plants/Manufacturing Chrysler Fiat Ford GM coronavirus