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Bob Bondurant driving school closes a month after entering Chapter 11

On Oct. 2, the Bob Bondurant School of High Performance Driving filed for Chapter 11 bankruptcy protection. In its filing, the 50-year-old racing school said it owed between 50 and 99 creditors an amount between $1 million and $10 million, and had $1 million to $10 million. The school released a statement at the time saying, "Our plan is to emerge from this process as a stronger company and continue to drive this company into the next 50 years." Instead, on Monday, Nov. 12, the Chandler, Arizona-based facility closed its doors with no official explanation. On top of its classes for aspiring racers, law enforcement authorities, and general population students, Bondurant has been the official driving school for Dodge SRT vehicles since 2015. Over the past two years, Dodge has included a one-day training course for any SRT buyers and lessees, redeemable within a year after finalizing the deal for the vehicle. To read the tale of one Hellcat owner at the Hellcat.org forum, even the school's instructors didn't see the closure coming. Forum member Av62nv arrived at Bondurant Monday to start his four-day experience. After a lengthy pause in the middle of the day, Av62nv wrote that the instructor walked in and told the class, "Sorry guys, don't know how to say this, but as some may know the school is in Chapter 11 bankruptcy, and it looks like 7 now. We are closed." Another poster in the forum, CubeMan, wrote that "Technicians and staff loaded their toolboxes, and paychecks have apparently bounced." Apparently family scion Jason Bondurant arrived and tried to explain; the short of it was that the good thing had come to an abrupt end, but there was "a chance it could come back." Other posters in the forum noted how they have reservations as far out as June 2019, or haven't been able to get to their classes yet because of delivery delays with their SRT cars, and have no idea what's happening. The website is still up, but a Bondurant spokesman confirmed the closure to Classic Cars, and a note on the school door reads, "School is closed. Direct all inquiries to Pat Bondurant." Pat is Bob Bondurant's wife, who married the former race driver in 2010 at the Monaco Grand Prix. A month ago, Bondurant's Chapter 11 bankruptcy statement said, "We will continue operating and serving our students and corporate groups as usual while we develop new business relationships to ensure the vitality of the company in the future." Obviously, that won't happen.

Dodge, Hyundai crowdsourced-funding sites deemed successes

What's not to love about crowdsourcing? This idea, after all, has given us Kickstarter as well Local Motors, but automakers are starting to use the social platform to sell more cars (or just drum up a little PR). Both Dodge and Hyundai have used "crowd-funding" recently, and while Automotive News is reporting that neither has racked up big sales with this gimmick, both automakers are pleased with the attention.
For Hyundai, it teamed up with website Motozuma.com to help customers crowdsource money for a down payment, and the automaker matched this amount up to $500. Last year, this helped Hyundai sell an extra 1,600 units, a fraction of its total 2012 sales. That figure is far larger than Dodge fared with the Dodge Dart Registry - it netted only two sales and a small number of individual options. This registry did help University of Southern California fraternity crowdsource $18,000 to buy a Dart for a local Meals on Wheels, however. Despite the low sales figures, Dodge and Hyundai are considering their crowdsourcing programs a success since it helped them connect with younger buyers.

CEO Sergio Marchionne curses FCA spokesman for emissions cheating denial

WASHINGTON — Fiat Chrysler Chief Executive Officer Sergio Marchionne reprimanded the company's top U.S. spokesman for issuing press releases about Fiat's vehicle emissions practices days after Volkswagen's disclosure in September 2015 that the German automaker had used illegal software to evade emissions tests, documents released Monday show. Lawyers suing Fiat Chrysler Automobiles in a securities case filed excerpts of an email from Marchionne to Gualberto Ranieri, then the company's U.S. spokesman, in a filing in federal court in New York criticizing him for saying that the company does not use defeat devices. "Are you out of your goddam mind?" Marchionne wrote in an email on Sept. 22, 2015, adding that Ranieri should be fired and calling his actions "utterly stupid and unconscionable." The company said in a statement on Monday it was "understandable that our CEO would have a forceful response to any employee who would opine on such a significant and complex matter, without the matter having been fully reviewed through its appropriate channels." The statement added that Ranieri's comments came just days after VW's emissions issue became public "and before a comprehensive internal review and discussions with component suppliers was possible." Fiat Chrysler was sued in 2015 along with Marchionne and other executives over claims it defrauded shareholders by overstating its ability to comply with vehicle safety laws. An amended version of the complaint filed in 2017 added claims about its compliance with emissions laws. The shareholders accused the defendants of inflating Fiat Chrysler's share price by hundreds of millions of dollars from October 2014 to October 2015 by downplaying safety concerns. They said the shortcomings materialized in 2015 when the automaker was fined $175 million by the National Highway Traffic Safety Administration, and took a roughly $670 million charge for recalls. Plaintiffs filed the excerpts seeking approval to take up to 40 additional depositions, including Marchionne's. The U.S. Justice Department sued Fiat Chrysler in May 2017, accusing it of illegally using software to bypass emission controls in 104,000 diesel vehicles sold since 2014. Fiat Chrysler has held numerous rounds of settlement talks with the Justice Department and California Air Resources Board to settle the civil suit, including talks as recently as earlier this month. It faces a separate criminal probe into the matter.