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Ferrari and FCA are officially separated

It's been a long time in the making, but it's officially happened: Ferrari is no longer part of Fiat Chrysler Automobiles. Following the Italian automaker's initial public offering, it has officially split off from its former parent company. As part of the spin-off, FCA's stakeholders will each receive one common share in Ferrari for every ten they hold in Fiat Chrysler. Special voting shares will be distributed in the same proportions to certain shareholders as well. Those shares being distributed will account for 80 percent of the company's ownership. Another ten percent was floated as part of the company's IPO, while the remaining 10 percent is held by Enzo's son Piero Ferrari (pictured above at center), who serves as vice chairman of the company. The shares will continue to be traded under the ticker symbol RACE on the New York Stock Exchange, and will begin trading this week as well under the same symbol on the Mercato Telematico Azionario, part of the Borsa Italiana in Milan. Since the extended Agnelli family headed by chairman John Elkann (above, right) holds the largest stake in FCA, expect it to continue controlling the largest portion of Ferrari shares as well. Between them, nearly half of the shares in the supercar manufacturer – and we suspect a little more than half of the voting rights – will be controlled by the Agnelli and Ferrari families, who are expected to cooperate to ensure the remaining shareholders don't attempt a takeover of the company. Similar to its former parent company, which operates out of Turin and Detroit, the Ferrari NV holding company is nominally incorporated in the Netherlands, but the automaker will continue to base its operations in Maranello, Italy. That's where it's always been headquartered, on the outskirts of Modena. For the time being, Sergio Marchionne (above, left) remains both chairman of Ferrari and chief executive of FCA – a position to which he is not unaccustomed, having previously headed both Fiat and Chrysler before the two officially merged. Related Video: Separation of Ferrari from FCA Completed LONDON, January 3, 2016 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) and Ferrari N.V. ("Ferrari") (NYSE/MTA: RACE) announced today that the separation of the Ferrari business from the FCA group was completed on January 3, 2016. FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held.

Scuderia Ferrari displaces relatives of missing passengers at Malaysian hotel

The action and glamor of a Formula One race coming to town is usually more than enough to shine an international spotlight on a host country, but Malaysia has made headlines recently for another reason entirely. That, of course, would be the disappearance of Malaysian Airlines flight 370. But with the two events coming together, something's going to have to give, and unfortunately in this case, it's the grieving families of the flight's passengers.
The clash came to a head when the Scuderia Ferrari came to town to set up for next weekend's race. Team members were booked to stay at the Cyberview Hotel in the capital of Kuala Lumpur, arrangements which F1 chief Bernie Ecclestone points out were likely to have been made long ago. The trouble is that over a dozen relatives of MH370 passengers who had come in from China were still staying at that hotel while awaiting word on their loved ones' fates, and with the hotel apparently filling up fast ahead of the grand prix weekend, those family members were forced to leave.
Just where they've gone, we don't know, but while the development may not look good for Ferrari or for F1, it strikes us as one of those unfortunate situations where no one is really to blame. The race has been booked for months, the team likely made their reservations long before the flight went missing, the hotel is obliged to honor the reservations and the grieving families need somewhere to stay. The tendency to point fingers often prevails, but in this situation we're afraid no one is to blame but the circumstances. That, and the still as-yet unknown cause of the flight's mysterious disappearance.

Ferrari 812 Superfast: It looks like it sounds

Ferrari has been on a roll with its recent mid-cycle refreshes. Last year at the Geneva Motor Show, the prancing horse brand unveiled the significantly updated replacement for the FF and named it the GTC4 Lusso, reviving a name last used on the 1971-72 365 GTC4. Now, at this year's Geneva show, the Maranellites lifted the silk on a revised version of their omnipotent F12 Berlinetta and rechristened it the 812 Superfast, utilizing a suffixed moniker that originated in a proto-muscle car Enzo concocted back in 1957 when he stuffed a big V12 into a car originally meant for a smaller one and baptized it the 4.9 Superfast. At least the capitalization and compound wording in this honorific finally makes sense, giving respite to the Spell Check programs worldwide. "The name Superfast belongs to the Ferrari history," says Flavio Manzoni, head of the Ferrari Design Center. "When we finish a project, we always create a list of names and this one just seemed to fit." Ferraris have always, or almost always, been lovely objects to behold, but it still amazes us that a brand that so often nails its design language the first time around finds means and actualization for improvement when it comes time to spruce things up. We were obsessed with the appearance of the first FF, but the heart-stopping GTC4 Lusso wiped our memory of that hatchback like some process out of a Philip K. Dick story. Similarly, this 812 Superfast obviates our Total Recall of its predecessor, and not just because the slightly larger naturally-aspirated V12 in its aquiline front makes nearly 60 more horsepower. The design is less encumbered that of the F12, with smoother flow, fewer disruptive channels and voids, and additional streamlining that give the new car a more balanced profile and proportion. A thicker, and more sailing C-pillar in the back also raises the tail, providing an elegant and functional (Super)fastback design that echoes famed Ferraris of yore. "Compared to its predecessor, we have made huge steps in performance, so it is necessary to develop very strong aerodynamic solutions or the car wouldn't reach our objectives," says Manzoni. "The rear reminds us of the Daytona, not because of the shape but because of the form. The cut volume at the tail is typical of many Ferraris of the Sixties, like the 250 Lusso, the 275 GTB4, the 288 GTO.