2022 Chrysler Pacifica Touring L on 2040-cars

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Detroit Three autoworkers could get huge bonuses

For a long time, being a line worker for one of the Detroit Three has meant living with an uncertain future. With the health of American automakers on the rise, though, things are also starting to look up for the men and women building the cars. The latest sign that things aren't bad? Big profit-sharing checks.
According to The Detroit News, Ford, General Motors and Chrysler could end up paying over $800 million to 130,000 workers as part of a profit-sharing plan. According to The News, the economic impact of these profits in Michigan alone could exceed $400 million, besting the NFL's Super Bowl, MLB's All-Star Game and the NHL's Winter Classic for their economic impact.
This is the third straight year the Detroit Three have issued profit-sharing checks to UAW employees, and for many workers, the checks are as close as they'll get to a raise, due to the most recent contract between the union and the manufacturers. On average, employees at GM and Ford receive $1 for every $1 million in North American (not just the US) pre-tax profits. Chrysler, meanwhile, gets a similar deal, although the Auburn Hills-based company calculates profit sharing using 85 percent of the brand's global profits.

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.

2018 Chrysler Pacifica Hybrid Long-Term Update | Winter vacation

DESTIN, Fla. — You know you want a minivan. Wait, you say. That's not me. I'm not old enough. Or I don't have that many kids. Or ... No. You want a minivan. And after multiple family vacations and weekends in Autoblog's long-term 2018 Chrysler Pacifica Hybrid, I'm happy to explain why. Let's break it down. — The functionality is off-the-charts. From the multiple ways you can open and close the doors to the sheer volume of stuff you can load into them, minivans are leaders in user experience. — The cargo volume is immense and usable. We were able to simply pack up our lives and go to Destin, Fla., for a week on the Gulf. Two adults and a 1-year-old had plenty of space and creature comforts for the drive from Michigan. We moved the passenger seat forward so there was a mini pod in the second row where my wife and baby spent most of the time. During a brief spell from driving, I nestled back there for a bit, sipping coffee and playing cards on the seat-mounted entertainment screen. — In back, our manifest was prodigious. A cooler. A beach blanket. Beach chairs. Three large suitcases. A Pack 'n Play. A baby chair. Food. Boxes of wipes and diapers. A stroller. Beer and wine. Jellycat. Way more things that I've forgotten. It was also the maiden voyage for our Britax Boulevard ClickTight carseat, which fit securely. Installing a carseat easily is one of life's simple joys. The 2018 Pacifica Hybrid lists 197.3 cubic feet of cargo volume, and we used most of it. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. — We did have some space left over, which was actually more impressive to me. When three people can drive across the country with everything they need for a week and then wonder what else they maybe should bring, that speaks volumes (I know) to the usability of the cargo volume. On an earlier trip to Michigan's Upper Peninsula, we took all of this stuff plus a golden retriever, her crate, her food and camping gear. And still had room left over. — The Pacifica has a 24.3-inch lift-over height, which means it's easy to load. You can put the seats down and still reach far into the cargo hold. That's the beauty of minivans. Our family has a three-row SUV that you have to stretch to load and unload. We thought we wanted an SUV. We didn't realize we actually wanted a minivan. — And therein lies the inherent beauty of minivans.