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Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

FCA's shifter fiasco proves novel gear selectors are a bad idea

What's wrong with PRNDL? Why are automakers trying to overly complicate the simple task of selecting gears? If there's any lesson to learn from the recent news that NHTSA is investigating 853,000 Fiat Chrysler vehicles over its problematic gear selectors, it's that the trend of fancy shifters needs to stop. Now. Last year, NHTSA opened an investigation into Jeep Grand Cherokee models, and has now expanded this probe to include the 2012-14 Chrysler 300 and Dodge Charger. The problem? The shifter – assembled by ZF – is confusing for many drivers. "Testing ... indicates that operation of the (electronic) shifter is not intuitive and provides poor tactile and visual feedback to the driver, increasing the potential for unintended gear selection," a NHTSA document states. More than 100 crashes and over a dozen injuries are linked to this problem, according to The Detroit Free Press. To us, the problem isn't just limited to FCA. These unnecessarily novel gear selectors are spreading like wildfire across the industry. Honda and Acura use a weird pushbutton setup. Lincolns have buttons on the dashboard. Jaguar's shifter electronically raises out of the center console. Mercedes uses a stalk with up-for-Reverse, down-for-Drive, push-for-Neutral arrangement. And what the hell is BMW thinking with its M cars? FCA has since abandoned the confusing shifters in question. The 300, Charger, and Grand Cherokee now use the rotary shift dial that's quickly proliferating across the company's brands. Simplistic gear selectors might not be sexy, but no one ever complained about not being able to find the right gear in a Hyundai Sonata. What's most interesting is that this NHTSA investigation could push FCA – and possibly other automakers – to redesign vehicle functions that otherwise operate as designed. Just because most people will never have a problem putting a Dodge Charger in Reverse doesn't mean there isn't a flaw with the design. But perhaps a more simplistic solution – good ol' PRNDL – would have prevented these issues from the start. Related Video: News Source: The Detroit Free PressImage Credit: Copyright 2016 AOL Government/Legal Chrysler Dodge Jeep FCA shifters

Nissan tells Renault it is 'not opposed' to Fiat Chrysler merger plan

TOKYO – Nissan on Wednesday told Renault it wasn't opposed to its partner's potential $35 billion merger with Fiat Chrysler, the Nikkei newspaper said, as the two met to hash out the future of their alliance amid a deal that could upend the auto industry. The leaders of Nissan Motor Co, France's Renault SA and junior partner Mitsubishi Motors Corp gathered at Nissan's headquarters in Yokohama for a scheduled alliance meeting - one overshadowed by Fiat Chrysler's proposal this week for a merger-of-equals with Renault. The plan, which would create the world's third-largest automaker, raises difficult questions about how Nissan would fit into a radically changed alliance. Renault Chairman Jean-Dominique Senard arrived in Japan on Tuesday to discuss the proposed tie-up with Nissan, 43.4% owned by the French automaker. "We are not opposed," the Nikkei quoted an unnamed Nissan source who had attended the meeting as saying. The person also said "many details need to be worked out" before the Japanese automaker solidifies its position on the issue, the Nikkei reported. In a statement, the alliance members confirmed that they had "an open and transparent discussion" on the proposal. The deal looks designed to tackle the costs of far-reaching technological and regulatory changes, including the drive toward electric vehicles. Nissan, which has rebuffed overtures by Renault for a merger of their own despite their 20-year alliance, was blindsided by the discussions, sources have told Reuters, stoking concerns that a deal with Fiat Chrysler could weaken Nissan's relations with Renault. The tie-up also poses an additional challenge for Nissan CEO Hiroto Saikawa, already grappling with poor financial performance and an uneasy relationship with Renault after Nissan led the ousting last year of long-standing alliance chairman Carlos Ghosn. There have long been tensions between Nissan and Renault over the imbalance of power in their alliance. Nissan, the bigger company, holds a 15% non-voting stake in the French automaker, while Renault owns 43.4% of Nissan. Ahead of Wednesday's meeting, Japanese media quoted Saikawa as telling reporters that he would look at the potential opportunities afforded by a Renault-FCA merger. Credit ratings agency Moody's said it was vital for Nissan to stabilize its partnership with Renault to expand operational synergies and improve margins.