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Auto Mergers and Acquisitions: Suicide or salvation?

We love the Moses figure. A savior riding in from stage right with the ideas, the smarts, and the scrappiness to put things right. Alan Mullaly. Carroll Shelby. Lee Iacocca. Andrew Carnegie. Steve Jobs. Elon Musk. Bart Simpson. Sergio Marchionne does not likely view himself with Moses-like optics, but the CEO of Fiat Chrysler Automobiles recently gave a remarkable, perhaps prophetic interview with Automotive News about his interest and the inevitability of merging with a potential automotive partner like General Motors. Marchionne has been overtly public about his notion that GM must merge with FCA. For a bit of context, GM sold 9.9 million vehicles in 2014, posting $2.8 billion in net income, while FCA sold 4.75 million units and earned $2.4 billion in net income, painting a very rosy FCA earnings-to-sales picture. But that's not the entire picture. Most people in the auto industry still remember the trainwreck that was the DaimlerChrysler "merger" written in what turned out to be sand in 1998. It proved to be a master class in how not to fuse two companies, two cultures, two continents, and two management teams. Oh, it worked for the two individuals at both helms pre-merger. They got silly rich. And the industry itself was in a misty romance at the time with mergers and acquisitions. BMW bought Rolls-Royce. Volkswagen Group bought Bentley, Bugatti, and Lamborghini, putting all three brands into their rightful place in both products and positioning. No marriages there, so no false pretense. Finally, Nissan and Renault got married in 1999. A successful marriage requires several rare elements in this atmosphere of gas fumes and power lust. But a successful marriage requires several rare elements in this atmosphere of gas fumes and power lust, the principle part being honesty. Daimler and Chrysler lied to each other. The heads of each unit, the product planners, and finance all presented their then-current and long-range forecasts to each other with less-than-forthright accuracy. Daimler was the far greater equal and no one from the Chrysler side enjoyed that. The cultures were entirely different, too, and little was done to bridge that gap. Which brings me back to the present overtures by Marchionne to GM. "There are varying degrees of hugs," Marchionne stated in the Automotive News piece. "I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you." Seriously?

UAW Chief Shawn Fain disrupts Detroit's labor tradition

He's known to quote the Bible and Nation of Islam civil rights leader Malcolm X. He's a social media fanatic who keeps the pay stubs of his union member grandfather in his wallet. And now, Shawn Fain is representing nearly 150,000 auto workers in one of the biggest labor strikes in decades. In taking action against all three Detroit carmakers, Fain, the head of the United Auto Workers, has remade the strategy of the union he leads, choosing a bolder, much riskier path than his predecessors after he won office by a narrow margin in a first-ever direct election earlier this year. The strike started as the clock hit midnight on Friday, and followed Fain's decision to open negotiations with Ford Motor, General Motors and Stellantis simultaneously and eschew public niceties involving choreographed handshakes that famously kicked off previous negotiating efforts. The strategy is not without risk. A weeks-long strike would hit workers who live paycheck to paycheck, while the Detroit Three automakers have billions in cash to withstand the walkout. Fain, 54, has made creative use of social media, appearances on network and cable news programs and alliances with high-profile progressive politicians such as U.S. Senator Bernie Sanders, to reframe the UAW's contract bargaining as a battle to re-set the balance of power between workers and global corporations. He has rebutted automakers' concerns about labor costs by pointing out that they have poured billions into share buybacks to benefit investors. "If they’ve got money for Wall Street they sure as hell have money for the workers making the product," he said. “We fight for the good of the entire working class and the poor." In lengthy social media talks to UAW members, Fain alternates quoting Bible verses with the use of charts and graphs to dissect wage and benefit offers from the automakers - details his predecessors kept behind closed doors during bargaining crunch time. Fain, in his unorthodox approach, ran what amounted to a public auction among the companies to push each one to top the other to avoid a costly walkout. Prior UAW presidents picked just one automaker to set a pattern for the other two. Over and over, Fain has told UAW members at the Detroit Three that they can reverse 20 years of wage and retiree benefit concessions, stop further plant closures and end a seniority-based, tiered compensation system that pays new hires as much as 44% less than veteran workers.

Dodge's divisive splitter guards are now pink and might become black

There is an infinite amount of real problems out there in the world, but for some reason, one of the most dividing issues in the car community relates to a piece of protective plastic on cars. Yes, splitter guards. Since the plastic parts were introduced to SRT variants of the Dodge Challenger and Dodge Charger for 2015, the enthusiast community has been split like a '63 'Vette on the merits and aesthetics of not removing them. Originally, the protectors, which are there to protect the splitter while the car is in transit to dealers, were yellow, which contributed to their popularity. But Dodge has now shifted that color to pink, as Car & Driver reported and Autoblog confirmed.  On one side, upset purists beg they be removed from the cars. They were only put on to protect the vehicles' lower front fascias during shipping and handling, and if left on too long, they will collect dirt and grit and damage the new paint. SRT lead designer Mark Trostle is included in this camp and is quoted saying, "I wish they would take them off." On the other side, there are people who enjoy the contrasting look and see it as a way to stand out or be different.  "Yes, they are designed to be removed before delivery," said Tim Kuniskis, global head of Alfa Romeo and head of passenger cars for Dodge, SRT, Chrysler, FIAT, FCA for North America, in an email to Autoblog. "But today, they have their own Facebook page, and many of our performance enthusiasts have active debates on whether to keep or remove them. Some owners say they are even selling them in the aftermarket!"  The Facebook page he speaks of is called "Hey Pal, You Forgot To Take Your Splitter Guards Off." The private group was started on April 11, 2019, and as of this writing, it is 11,855 members strong. With FCA recently changing the guards to pink, that number will likely continue to grow. "Obviously, they weren't part of the original design," Kuniskis said. "We started with yellow guards and shifted to pink, but they are still so popular that we may shift them yet again to black. Wherever we land, this is another example of how our customers are passionate about every part of their Dodge muscle cars — from the high-horsepower engines that power Charger and Challenger to the splitter guards designed to protect them, so we expect the conversation to continue."  Yellow, pink, black, purple, rainbow, whatever. People will like what they like and hate what they hate. Just do you, and keep the negativity away.