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Chrysler files for IPO

Chrysler has had a lot of owners over the past few years alone, from Daimler to Cerberus to Fiat and the federal government. But it could be poised to gain some more before long. Like, a lot more.
The automaker has just announced that it has filed with the US Securities and Exchange Commission to issue an Initial Public Offering of common stocks. Chrysler hasn't revealed how many shares will be offered and at what price, however the shares in question will not come out of Fiat's approximate 60% majority shareholding but instead out of the 40% minority stock held by the UAW's VEBA retiree healthcare trust. Reports suggest that the IPO, which is being handled by JP Morgan, could encompass approximately 16% of Chrysler stock, initially valued at approximately $100 million.
Lest you think this is all part of Sergio Marchionne's grand plan to consolidate Chrysler and Fiat, the two auto groups over which he presides, think again. The filing, which still needs to be approved by the SEC, comes at the insistence of the UAW. Negotiations between Marchionne's management team and the union over Fiat's acquisition of the VEBA shares have stalled. If they manage to come to an agreement, however, the IPO would likely be taken off the table. So don't go calling your broker just yet, but you can analyze the official announcement below.

78k Chrysler 200 sedans recalled for stalling

Chrysler has been at the top of our list of recalls lately, and is showing little sign of dropping down. The latest campaign announced from Auburn Hills affects nearly 80,000 units over a problem that could see the vehicle suddenly stall or shift into neutral unexpectedly. According to the automaker's statement below, the issue primarily affects the 2015 Chrysler 200. However it indicates that unspecified "additional vehicles are also included in the campaign." Of the 77,834 units affected by the recall, the vast majority – nearly 70k – are in the United States. Another 7,115 are located in Canada, 848 in Mexico, and another 19 outside of North America. The problem stems from some electrical connectors that may have been damaged by the supplier during post-production validation tests. FCA stresses, however, that it is "unaware of any related injuries or accidents" resulting from this issue, and that the glitch may or may not be "accompanied by a dashboard warning-light illumination." Airbag function is reportedly unaffected. Related Video: Statement: Electrical Connectors August 14, 2015 , Auburn Hills, Mich. - FCA US LLC is conducting a voluntary safety recall to correct a condition in an estimated 77,834 U.S.-market sedans that may lead to engine stall or gearshift to neutral. The Company is unaware of any related injuries or accidents. The condition, which may be accompanied by a dashboard warning-light illumination, does not affect air-bag function. An investigation by FCA US revealed some electrical connectors were damaged when the supplier conducted post-production validation tests. Affected are certain 2015 Chrysler 200 midsize sedans. Additional vehicles also are included in campaign. Of these, approximately 7,115 are in Canada; 848 are in Mexico; and 19 are outside the NAFTA region Affected customers will be advised when they may schedule service, which will be performed free of charge. Customers with questions or concerns may call the FCA US Customer Care Center at 1-800-853-1403.

What's the right car for the 'Planes, Trains, and Automobiles' remake?

As the Thanksgiving holiday approaches so, too, does the season in which many Americans will rewatch that holiday classic, "Planes, Trains, and Automobiles." The Steve Martin and John Candy movie is a staple of holiday-season viewing. Soon, however, it will be joined by a new version. Paramount Pictures is doing a remake of "Planes, Trains, and Automobiles," starring Will Smith and Kevin Hart. In the 1987 original, Martin and Candy rent a pea-soup green Chrysler LeBaron Town&Country convertible (well, sort of), which suffers a series of mishaps including catching fire yet still chugs along. It was a star turn for the wood-sided K-car droptop (though not the last), and that got us thinking: What should the Smith and Hart duo get stuck with at Marathon Rent-A-Car? Of course, it needs to be a convertible. Among the widely used rental-car convertibles, a Ford Mustang or a Chevy Camaro would be too sporty and cool. This trip is supposed to be miserable. A Buick Cascada or a Beetle convertible would be more appropriate. Of the two, a Beetle is probably better from a comedy standpoint.  But there is another car that stands out as the clear winner: the Chrysler PT Cruiser convertible. Granted, the PT convertible went out of production in 2008, making it a bit old for a current rental lot — but not too old. And the PT Cruiser was even offered with a Woodie package, providing even greater alignment with the LeBaron of old. However, the Woodie package was only offered from 2002–2004, so it predated the convertible by one model year. We think that in this case, the filmmakers should put aside strict historical accuracy and apply the faux-wood appliques to the PT convertible for maximum continuity with the original movie. Besides, the original car wasn't technically a Chrysler LeBaron: it had a different name and badging, plus a non-factory color. It wasn't too different from the Wagon Queen Family Truckster from "Vacation" in that regard. So, what do you think? Is it time for the PT Cruiser to join the great pantheon of movie road-trip cars? Or would something else make for a better movie motors classic?