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FCA delays distribution of Ferrari shares

Even if you can't afford an actual Ferrari, soon you can own a part of the famous company thanks to its upcoming initial public offering. FCA will put 10 percent of the Prancing Horse on the market in the third quarter of this year. However to reap extra money for 2015's bottom line, the rest of the sports-car maker's stock will remain undistributed for a little longer. According to Automotive News, the strategy is quite simple to understand. FCA is holding off until the first quarter of 2016 to divvy up the remaining Ferrari stock to shareholders. By doing so, the automaker gets to claim 80 percent of the Prancing Horse's profits for its 2015 financial numbers. While FCA is already showing strong results through Q1 2015, being able to add extra cash on the balance sheet is always a plus. FCA hasn't set a specific date for the IPO, but Ferrari stock was announced to be traded in the US and possibly on a European exchange, as well. According to Automotive News, FCA currently owns 90 percent of the company, and Piero Ferrari has the remaining 10 percent, which he isn't selling. Related Video:

Party boy videos his night of drinking, driving - and downfall

So, I've thrown around the word "Schadenfreude" a lot around here. Roughly translated as "joy at another's misfortune," it's one of those lovely German-language compound words that perfectly sums up some part of the human condition. Another of my favorites is " B ackpfeifengesicht." This one translates as "a face in need of a fist." In this story out of Morocco about a rich young man drinking, driving, and crashing a Ferrari, both of those words come immediately to mind. According to NDTV, a 20-year-old spent a wild night on the town in Rabat back in April. The unnamed man spent his evening partying, drinking champagne, dancing at clubs, and racing his slate-colored Ferrari California around the city. Someone who was with him recorded the evening for posterity, and caught him drinking out of a bottle of champagne, completely annihilated, while driving and generally acting the fool. As you can imagine, the evening didn't end well for him. In the morning, he was still apparently drunk and driving around. He smashed into a small, silver sedan, which caved in that car's door and mangled the California's frontend. Unfazed, our man shot a little video of himself dancing around the crash scene, giving the cops lip, and smoking in the back of an ambulance. I guess he thought his wealth and status would get him out of trouble. Joke's on him, though. Morocco's official MAP news agency stated that the Ferrari driver was found guilty of driving while intoxicated and driving without insurance. For this, he got two years in jail and was slapped with a 2,000 euro fine. And that, friends, is Schadenfreude and B ackpfeifengesicht in action. Related Video News Source: NDTV Auto News Weird Car News Ferrari drunk driving morocco

Florida aquaman drives a Ferrari straight into the drink

Often the worst and most annoying part of security footage is that there is no sound to the video. Viewers are left to their own imaginations as people on camera are seen doing strange or dumb things. A recent video from Florida has us wishing a police officer would have been mic'd up for a conversation he had moments before a person got into a Ferrari and drove it right into a body of water. Reported by WPTV and blogged by Car Throttle, the dash camera on a police car caught 48-year-old James Mucciaccio Jr. doing something that makes absolutely zero sense (before the Florida bath salts jokes come out, neither drugs nor alcohol were involved). The morning of Dec. 26, a police officer got out of his cruiser and approached a blue Ferrari 360 that was parked on a gated dock on the Palm Beach Inlet just off of the Atlantic Ocean. Based on the soundless video, it appears Mucciaccio and the officer had a civil conversation likely suggesting that the car couldn't be parked there. Mucciaccio then hustled to get into the car and looked to be backing out of the dock. But before he passed the gate, he stopped, then switched out of reverse as evidenced by the blinking lights on the car. He then gunned it and drove the Ferrari straight off the dock and into the water. Considering the interaction seemed to be completely calm, it's mind-boggling trying to imagine what Mucciaccio was thinking, if it was indeed on purpose. And no, there is no word yet as to why exactly he did what he did. According to the report, Mucciaccio was not injured and was rescued by a friendly observer. After the Ferrari sank 30 feet to the bottom, it was pulled out using inflatables. For more photos of the crashed Ferrari both above and below water, check out images from the Code 3 Divers here. Surprisingly, this is not the first time Code 3 has pulled a Ferrari out of the water. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.