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Samsung Galaxy Note 7 disaster endangers FCA's Magneti Marelli sale

Samsung's financial and public relations positions are going up faster than one of the company's Galaxy Note 7 smartphones, and that's bad news for Fiat Chrysler. FCA was in talks with the South Korean tech giant to sell all or a portion of Magneti Marelli, the enormous Italian parts supplier. The deal, estimated to be in the $3 billion range, was a big part of FCA CEO Sergio Marchionne's five-year plan to slash his company's ˆ5.5 billion ($6.07 billion at today's rates) debt. But Samsung's flaming phones may have stalled the deal, Automotive News reports. Samsung was hoping to acquire all or part of Magneti to gain access to its lighting, in-car entertainment, and telematics business, all in a bid to reduce its reliance on occasionally explosive consumer electronics, AN's sources report. This week alone, Samsung permanently ended production of the Note 7 and began recalling millions of devices, sending out flame-proof return boxes so owners can ship the device back in relative safety. The disaster has already caused Samsung to slash its third-quarter operating profit by $2.3 billion, and is leading the company to divert its attention away from big, blockbuster deals, people "who asked not to be identified because the negotiations are private" told AN. According to the same sources, the two sides haven't even agreed on a valuation for Magneti Marelli. Neither company was willing to comment on the potential sale. Related Video: News Source: Automotive News - sub. req.Image Credit: Andrew Zuis / AP Chrysler Fiat Technology Smartphone Sergio Marchionne FCA Samsung

Wish you had a world-famous auto exec give your commencement speech? Watch this

We've seen some pretty great commencement speeches over the years. There was Steve Jobs' incredibly inspiring Stanford address in 2005, John Stewart's insightful speech to the graduating class of William and Mary in 2004 and Steven Colbert's hilarious 2011 address at Northwestern, but automotive executives aren't strangers to honorary degrees. Former General Motors CEO Rick Wagoner spoke at Virginia Commonwealth University in 2011, and Chrysler CEO Sergio Marchionne recently gave the keynote at Walsh College's 100th Commencement Ceremony. The executive knows a thing or two about success and following one's beliefs to fulfillment.
"I constantly encourage my co-workers at Fiat and Chrysler to go beyond the cliche and the conventional to try new approaches and change perspective each and every day," Marchionne said. "I exhort them not to repeat the same things, the same approaches, and I remind them they are indeed free. The freedom I am talking about is something inside you. It is determined by how open minded you remain, how receptive you are to the new and to the different, to the infinite possibilities that present themselves even if you don't go looking for them or could never have imagined. Being free means that you have the strength not to be conditioned by what others want you to do or by what may seem to be the easiest choice."
Amen to that. You can check out the brief press release on the address below as well as a video of a few highlights from the speech.

The Dodge Neon is alive!

"Holy crap! It's a new Dodge Neon! Like a new new one." Oddly, no one else on the Cancun resort shuttle seemed to notice. Or care. Ogling Mexican-market compact sedans is apparently something exclusive to automotive journalists on vacation. Yet there it was, fittingly on Dio de los Muertos, in all its resurrected glory. With a margarita in hand and an ocean in front of me, ignored, I turned my attention to my phone to get to the bottom of Neon version 3.0. Introduced for 2016, today's Dodge Neon is based upon and built alongside the Fiat Tipo/Egea, a C segment compact sedan co-developed by Fiat and Turkish industrial outfit Koc Holding. More than 125,000 were sold last year in Europe, with another 47,000 in Turkey. It's also sold in the Middle East and Africa, with Mexico alone getting the Neon version. Exterior styling is really the only difference, and then, only the crosshair grille manages to identify it as a Dodge. Then again, the same could be said for the not-so-dearly departed Dart, which belonged to the same segment. It was much bigger, though, with an extra 6 inches of overall length and 3 inches of wheelbase (which, as I just discovered, is "distancia entre ejes" en espanol). The Neon interior, not surprisingly, is pretty much the same as its Fiat siblings. The dash has two variations. A bigger, upgrade touchscreen resides in a dash-mounted, tablet-style infotainment pod, but the standard stereo head unit or 5-inch touchscreen upgrade fits into a binnacle shared with the instrument panel. It's a bit more like the Challenger, Charger, and yes, Dart in this regard, but in total, the Neon's cabin design is also less blocky and more organic in appearance. The switchgear is pure Fiat, but the steering wheel has the same control layout as Dodges, Jeeps and Chryslers. Power comes from the Challenger Scat Pack's 6.4-liter Hemi V8. No, it doesn't, I totally got you. The standard engine, dubbed FIRE, is a 1.4-liter naturally aspirated four-cylinder good for 95 horsepower and 94 pound-feet of torque. So, less than the Scat Pack. The optional engine, dubbed E.TorQ, which is in no way related to the Ram's eTorque mild hybrid system and not especially eTorquey, is a 1.6-liter naturally aspirated four-cylinder good for 110 hp and 112 lb-ft. Sadly, the Neon color selection is in no way neon, which probably doesn't matter since virtually every car on the Yucatan peninsula is painted white.