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Court ruling to delay Fiat's Chrysler buyout?

We've already reported on the attempts of Fiat to purchase the remaining 41.5-percent stake in Chrysler, currently owned by the United Auto Workers' VEBA healthcare trust. And while the issues still aren't resolved, Fiat has received both a bit of good news and a bit of bad news from a Delaware judge.
The good news is that the court ruled in favor on two key arguments of Fiat's, relating to what is a fair price for the Chrysler shares. The rulings essentially slash half a billion dollars off the price of the 54,000 shares owned by VEBA, according to a report from Reuters.
The bad news is that this makes the UAW an even more difficult opponent in negotiations. Its VEBA fund is meant to cover ever escalating retiree healthcare costs, so naturally, the UAW wants to get as much money as possible. Losing a big chunk of cash isn't likely to make the union more cooperative.

Fiat Chrysler says it did not know about Marchionne's illness

ZURICH/MILAN — Fiat Chrysler said it knew nothing about the medical condition of Sergio Marchionne after a Swiss hospital said on Thursday it had been treating the deceased chief executive for more than a year. "Due to medical privacy, the company had no knowledge of the facts relating to Mr. Marchionne's health," a Fiat Chrysler spokesman said. Questions have been raised about how long Marchionne, who died on Wednesday, was ill and how much the company knew before it made the situation public. Marchionne rescued Fiat and Chrysler from bankruptcy after taking the wheel of the Italian carmaker in 2004 and he multiplied Fiat's value 11 times through 14 years of canny dealmaking. He was due to step down at FCA in April next year. "The company was made aware that Mr. Marchionne had undergone shoulder surgery and released a statement about this," the spokesperson said. "On Friday, July 20, the company was made aware with no detail by Mr. Marchionne's family of the serious deterioration in Mr. Marchionne's condition and that as a result he would be unable to return to work. The company promptly took and announced the appropriate action the following day." Asked whether the scope of the statement included the board and the chairman, the company declined to comment. In emailed comments, Marchionne's family confirmed the companies had not been aware of his health conditions. "At the end of last week FCA was made aware Sergio Marchionne would no longer be able to return to work without mentioning any further details," the family said. The announcement of the death of Marchionne, 66, one of the auto industry's most tenacious and respected CEOs, drew tributes from rivals and tears from his closest colleagues on Wednesday. University Hospital Zurich said earlier on Thursday Marchionne had been treated for a serious illness for more than a year before his death. Marchionne had fallen gravely ill after what the company had described as shoulder surgery at a Zurich hospital. He was replaced as chief executive last weekend after Fiat Chrysler (FCA) said his condition had worsened. "Mr. Sergio Marchionne was a patient at USZ. Due to serious illness, he had been the recipient of recurring treatment for more than a year," the hospital said in a statement. "Although all the options offered by cutting-edge medicine were utilized, Mr.

FCA's puzzling trademark spree includes Apache and Orange Peelz

Here's one for the Mystery Machine. As noted by the WagoneerFans forum and picked up by Motor1, Fiat Chrysler recently went on a one-day trademark application spree at the U.S. Patent and Trademark Office. On March 6, the automaker applied for the names Apache, Farout, Orange Peelz, Shocker, Tomahawk, and Top Dog. All have been requested for "Land vehicles, namely, passenger automobiles," and the best guess so far has them being applied to concepts during next month's Easter Jeep Safari, which, assuming it goes ahead, will happen April 4-20. As for historical ties, one name has a connection to Dodge, another was a codename for a Dodge engine, and one was used on a previous Easter Jeep Safari concept. Tomahawk rings the loudest bell, that name applied to the four-wheeled, Viper-engined concept motorcycle that Dodge rolled out at the 2003 Detroit Auto Show. The company supposedly sold nine examples of the "rolling sculpture" through Neiman Marcus over a four-year period. It doesn't appear FCA has used the name since, internally or otherwise. There is, however, a Cherokee tomahawk — not referring to a Jeep, but the light, short-handled ax used by the Native American Cherokee tribe. This one seems made for Safari use. Apache has a Dodge and a Jeep tie-in. At one time, Apache was the codename for the 6.4-liter Hemi V8 marketed as the 392 V8 on the Charger and Challenger R/T Scat Pack trims. That engine makes 485 horsepower and 475 pound-feet of torque. But Jeep showed a Wrangler Apache concept (pictured) at the 2012 Easter Jeep Safari, built with a Mopar conversion kit for a 6.4-liter Hemi making 470 hp and 470 lb-ft. Mopar sold the V8 swap kits at least through 2016, but they appear to have fallen off the Mopar menu. At one time there were rumors of a supercharged Apache with more than 600 horsepower, and wouldn't that be a welcome surprise in Moab. The Farout could be a more or less extreme overlanding take on last year's Easter Jeep Safari Wayout concept, depending on whether one considers "way" or "far" more radical. The Shocker, Jeep might be disappointed to discover, already has an outside link in the Jeep Shocker stickers made for Wichita State fans who love America's 4x4. As for Orange Peelz, it's pretty close to Pedro's bicycling degreaser called Oranj Peelz, but a Jeep conception could be anything. Except maybe a paint color. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.