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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

Ferrari gives employees record $5,600 bonus on strong year

Ferrari has got to be a great place to work. In fact, it's named as one of the best places to work in Europe year after year. Add to that the pride of making some of the coolest cars in the business, running one of the winningest teams in all of motorsports (even if the Scuderia isn't doing so well thus far this season) and all around standing for the best Italy has to offer, and you've got the makings of a dream job. And it just got a bit sweeter.
That's because Ferrari has just awarded each and every one of its employees a bonus of 4,096 euros - the most the company has ever paid. That's equivalent to over $5,600 at today's exchange rates, and represents a whopping 20 percent of the annual salary for a recently hired young employee. Following two advances of 1,000 euros each, that means employees will find an extra 2,096 euros in their pay checks this month, which may not be enough to buy a new California T or 458 Speciale, but should finance a nice shopping spree of t-shirts and paperweights at the Ferrari Store or a family vacation to Ferrari World in Abu Dhabi.
The bonuses are part of a deal signed with the union in 2012, but are enabled by record profits reported by the company over the last couple of years. After 2012 emerged as Ferrari's most profitable fiscal year, it moved to reduce production, thereby increasing the value of each new car it sells to drive profits up even higher. Nice work, in short, if you can get it.

Toro Rosso switches back to Ferrari F1 power for 2016

Scuderia Toro Rosso will run once again under Ferrari power next season. The "other" Italian squad (and second Red Bull team) announced the switch back to Maranello power for 2016, ending its two-year sojourn with Renault, and returning to the engine supplier it used for seven years prior. And with it, the team has also confirmed its driver lineup for next season as well. The 2016 Formula One World Championship will see both Max Verstappen and Carlos Sainz return to drive the new Toro Rosso-Ferrari STR11, maintaining the same driver lineup as this past season but under new motivation. Both drivers debuted with the team last season in a complete shakeup of its roster after Jean-Eric Vergne was shown the door and Daniil Kvyat (like Daniel Ricciardo before him) was promoted to the Red Bull Racing team. In ten seasons on the grid, the team has only landed on the podium once, and that was with Sebastian Vettel's dramatic rain-soaked race victory at Monza in 2008. The fourth-place finishes that Verstappen impressively took in Hungary and Austin this year match the team's next-best results to date. Sainz managed to finish in the points in seven out of 19 grands prix this season, including a seventh-place finish in Austin. The team finished the season in seventh place – tying its second best results to date – ahead of Sauber and McLaren, but behind Lotus and Force India. The Austrian parent company bought the team formerly known as Minardi back in 2005, hitting the grid the next season under its current name and Cosworth power. The following season it switched to Ferrari engines before joining its big brother under Renault motivation for the past season. Because of the last-minute engine swap, the team will start the season using Ferrari's 2015 power units. Faenza's switch to Ferrari supply will leave Renault powering only two teams next season: the Lotus outfit that it is now bringing back in house, and Red Bull, which will run the French automaker's engines for at least one more season – albeit branded under the TAG Heuer name. Meanwhile the Prancing Horse marque will power a total of four teams next season, including its own, Toro Rosso, Sauber, and newcomer Haas. Mercedes will power three and Honda just the one. Scuderia Toro Rosso to feature a Ferrari power unit Scuderia Toro Rosso's 2016 challenger, the STR11, will feature a Ferrari power unit. It marks a return to the company that supplied engines to the team from 2007 to 2013.