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FCA compromises with France, moving Renault merger bid forward

FRANKFURT/PARIS – Renault directors were preparing to review Fiat Chrysler's $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said. The compromise on French government influence over a combined FCA-Renault may clear the way for Renault's board to approve a framework agreement beginning the long process of a full merger, unless new issues surface at the meeting. France, Renault's biggest shareholder with a 15% stake, had been pressing for its own guaranteed seat on the new board and an effective veto on CEO appointments. But after late-night talks with FCA Chairman John Elkann, the French government has accepted a compromise that would see it occupy one of four board seats allocated to Renault, balanced by four FCA appointees, the sources said. Renault would also cede one of its two seats on a four-member CEO nominations committee to the French state, they said. Renault, FCA and the French government all declined to comment on the discussions. The same evening that the compromise was was negotiated, activist hedge fund CIAM wrote to the board of Renault to say it "strongly opposed" a planned $35 billion merger with Fiat Chrysler. Calling the deal "opportunistic," the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium. (Reporting by Arno Schuetze and Laurence Frost; additional reporting by Giulio Piovaccari in Milan and Simon Jessop; editing by Jason Neely and Rachel Armstrong) Government/Legal Chrysler Fiat Mitsubishi Nissan Renault merger

Maine is actively deregistering imported Mitsubishi Delicas — but why?

Some weird things are going on in Maine. The Maine Bureau of Motor Vehicles (BMV) is actively deregistering Mitsubishi Delicas that were imported to the United States and previously registered in Maine under the well-known 25-year federal import rule. The folks at Crankshaft Culture brought this news to our attention and published a fairly detailed report at the beginning of the month. Ever since seeing that, we’ve been trying to track down more answers from the Maine BMV and Maine Secretary of StateÂ’s office. HereÂ’s a summary of whatÂ’s transpired so far. Crankshaft Culture did the digging on the Mitsubishi Delica Owners Club Facebook page, and uncovered that Maine has been sending letters out to folks in the state who currently own Delicas. Those letters unequivocally state that “this vehicle is not eligible for motor vehicle registration in Maine and may not be operated on the public highway.” It then goes on to demand owners remove the plates from the Delicas and return them to the BMV. Furthermore, it states that “the registration may not be used as proof of ownership to sell this vehicle as an automobile.”  So no, Maine is not exactly mincing words. Of course, the question here is: Why? Why is Maine deregistering Mitsubishi Delicas? These vans were imported under the federal 25-year import law. We know this rule, but hereÂ’s a quick refresher from the Customs and Border ProtectionÂ’s website: “A motor vehicle that is at least 25 years old can be lawfully imported into the U.S. without regard to whether it complies with all applicable DOT Federal Motor Vehicle Safety Standards.” Theoretically, thatÂ’d make any Delicas over 25 years old legal to import here, along with pretty much any other contraption you want to bring that is old enough. Maine told us that itÂ’s only targeting pre-1995 Delicas, so thereÂ’s no time discrepancy. We went to the Maine Secretary of State to learn what is going on. The answers are slightly confusing, so bear with us. In short, Maine considers the Delica to be an "off-road vehicle." MaineÂ’s law — Title 29-A — is very clear with “off-road vehicles.” It reads: “Off-road vehicles may not be registered in accordance with this Title.” OK. Next question. What does Maine consider to be an “off-road vehicle?” And how does the Delica qualify? HereÂ’s where a brand-new modification (LD 1433 Sections 1-8) to Title 29-A comes into play.

2014 Pikes Peak Hill Climb: Final Practice Day 4 and pre-race notes

The running order has been established for the 92nd running of the Pikes Peak International Hill Climb for all classes and everyone's had all the practice they're going to get. On Sunday, June 29, the 14,110-foot-high mountain will ask each of them, "Who wants some?" Unlike previous years, while the bikes will run according to class, the cars will run according to their qualifying times set on the bottom section of the course, regardless of division, the fastest guys going first.
That puts Romain Dumas at the head of the 67 car entries, having set a time of 3:37.525 in his Norma M20 RD in the Unlimited Class, but the next Unlimited entry doesn't appear until sixth, Piero Nappi in his Picchio P4 pp with a time of 4:03.357. In between them, the two Mitsubishi MiEV Evolution IIIs start second and third in the Electric Modified class, that first one driven by Greg Tracy 11 seconds behind Dumas. Then comes Monster Tajima is his E-Runner Pikes Peak Special, then Paul Dallenbach leading the Open Wheel class, four positions ahead of the next Open Wheel competitor.
Leaders in the other classes: Michael Skeen driving a Nissan GT-R in the Open class in seventh, 12 positions ahead of the next class entrant; Jeff Zwart in eighth, driving a Porsche 911, will be the first in Time Attack 1, his competition starting right behind him; Robert Prillka in 21st is the first Time Attack 2 entry in a Porsche 911 GT3 Cup, three positions ahead of the next entry; in 23rd is Christopher Lennon in his 1973 Porsche 911 in the Vintage class, the next Vintage entry in 37th; the first Exhibition entrant is Donald Huffman in a Radical RXC in 50th, four positions ahead of the next in-class competition; and representing for Electric Production is Roy Richards in a Honda Fit EV.