14 Burst results for "Ceo Sergio Mark Yoni"
"ceo sergio mark yoni" Discussed on Daily Detroit
"Clean modern look with a long led. Light Line connecting the headlights and back lighting the wagoneer logo, which is stamped right above the grill photos show off a decidedly upscale interior as well, and there are many many screens. An instrument display in front of the driver separate screens, one for infotainment and the other for climate and seat controls on the center stack a front passenger screen for settings in watching media and a pair of screens for the second row you know spend I. Am no car expert like you are Sir but I gotTa tell you I looked at this thing. It looks like the bastard child of a Cadillac, escalade and Lincoln navigator it's. It's just like more of just not impressed. It looks like you took the two cars and use them together and you call the jeep. Well, I am you know wouldn't qualify I. Never really a fan of vehicles that are this big. To begin with you know the class of navigator and escalate I just think that they just. I can't get over the size and I just think it's just a excess and you know their gas hogs typically and they way a lot and you know. I mean, it's a show off purchase. I mean there are some definitely some nice touches on this. I mean the the interior looks very comfortable and luxuria some nice finishes There's some nice sort of creases on the cars really elegant. I actually think that the front you know looking at it dead on from the Front Looks Kinda Nice and again we'll put pictures on daily Detroit. but yeah, I think this one's a little. It's just it's hard to sort of disguise the the sheer size of this thing. It reminded me a little bit of the Chevy Chevy suburban. which is just a behemoth car. There's a awkwardness about the rear end. It just looks like It's proportioned weird I don't know there's a slight awkwardness to it. You know I, I was talking with some of my auto appears auto blog and and they pointed out that. Jeep is always sort of had an awkward time with some of its larger size larger. vehicles rather pointing out the jeep commander, which was a really boxing awkward looking model from yesteryear, and it'll be available in three different four wheel drive configurations, and it'll be sold under both the wagoneer and grand wagon your names. It'll start at around sixty grand and climb into the six figures possibly for some of the more upscale. Parent company Fiat Chrysler is investing one point six billion to transform its Mac Avenue Engine Complex to build the new wagoneer line of SUV's and the next generation. Grand Cherokee. The plant is expected to create nearly four thousand new jobs. And shifting gears. So to speak you like how did that? You're very good, very good Sir General Motors and Honda announced a new memorandum of understanding on. Thursday to share technology. It strengthens a previously announced plan that will see. Honda use GM's electric vehicle technology to build a pair of its own employees to go on sale in the US by two thousand, twenty four the new agreement expands the partnership to jointly develop electric powertrain technology internal combustion engines, vehicle platforms, infotainment safety technologies. Research and development and more. The partnership is seen as allowing both companies to save money on development costs that they can then use to invest in advanced technologies. Engineering work is said to begin early next year big picture How big of a deal is this? It's hard to say I mean this is one of those things there's no you know I think a lot is yet to be determined but I think this is kind of the wave of the future I mean a lot of automakers. Famously Fiat Chrysler under you know it's late CEO Sergio Mark Yoni. You know he he clamored for years to tie up member remember when he was trying to merge force a merger with General Motors because he's been saying he'd he'd been saying for years that you know the cost to develop things like electric vehicles autonomous vehicles was just going to be so high that that automakers needed. To find ways to spread the costs and partner together to do these kinds of things. So it remains to be seen but I think you know you're you're already seeing lots of signs of this Ford is is doing some of the same kind of things right now with Volkswagen sharing technologies and platforms and things like that. So you know it'll be interesting to watch what happens. detroit-based rocket companies, you might know them as quicken loans posted a large quarterly profit Wednesday. This is the first time Dan Gilbert's lending empire as had to report fresh results to Wall Street since going public the company's net income was an eye popping three point five, billion dollars. On business volume of more than seventy, two, billion Zam. At this same time last year, they posted a loss of fifty four million bucks. Shares of the company are up nearly forty, six percent since they went public less than a month ago. Work on the second phase of the I seventy five rebuild project continues Thursday with a new development work crews will shift southbound traffic onto the newly reconstructed southbound lanes from Adams Road to Thirteen Mile Road in Oakland. County. Previously, two-way traffic was sharing the northbound side of the freeway while southbound lanes and bridges were being rebuilt. The shift should be ready by five. Am Friday morning the big news far listeners who live or work in troy is that the eastbound big beaver road ramp to southbound I seventy five will reopen northbound is seventy five traffic will remain on two. Lanes. From thirteen mile to Adams, roads both directions of I seventy five, we'll have two lanes open between eight mile and Adams roads over the Labor Day, holiday weekend to accommodate you up north travelers men this this project is going to be a mess. I'm glad that I don't have to regularly rely on I seventy five last night Jerry. Actually you know you and I were hanging out together at the north end headquarters when I left, I was going up to visit somebody lives in Oak Park and my intent was to take seventy, five to six, ninety six. For reasons I won't get into I accidentally got off at eight mile just out of force of habit that's near where I live and when I tried to get back on I seventy five from eight mile, you can't anymore the entrance ramps are closed. So I'd to take a big long detour to get up to a six ninety six, but you know it's just a mess like it's just going to be a big headache for a lot of people..
"ceo sergio mark yoni" Discussed on Daily Detroit
"We run down some of the top headlines including when the construction industry will be allowed back to work plus. There's some interesting Ford and Lincoln Related News. Van will help us understand it all so let's get started. The State of Michigan says there were one thousand one hundred thirty seven new cases of Corona virus and one hundred three deaths in Michigan. This brings the total confirmed cases to nearly forty thousand four hundred and three thousand six hundred seventy deaths. They also have an update on the economy reopening here in Michigan. The construction industry is expected to resume operations on May seventh. That accounts for nearly four percent of the state's gross domestic product according to the Associated General Contractors of America and Industry Group Governor Gretchen. Whitmer has unveiled a proposal to give essential workers as defined by her stay at home order a path to free college education. The so called futures for frontliners program is basically a Gi bill for essential workers. The Governor says it's the first of its kind in the country it would provide a tuition free path to college or a technical certificate for essential workers. Who Don't have a college degree. Whitmer has a goal to increase the number of working age adults with a technical certificate or college degree from forty five percent to sixty percent in the next decade the program announcement light on details and it still requires work with a legislature to get it funded. Some of the categories of essential workers included our hospital and nursing home. Staff Grocery store workers people who manufacture personal protective equipment public safety trash pickup and childcare workers speaking of childcare the governor also announced in new childcare affordability program during the pandemic one hundred thirty million dollar childcare. Relief Fund will make direct grants starting at fifteen hundred dollars to childcare providers. It'll help keep providers who are serving essential workers open and it has the aim of making childcare more affordable as the economy starts to reopen. This is being funded by one hundred million dollars from the Federal Cares Act and thirty million dollars from the state's childcare fund a quick update on. What's happening here? In the city of Detroit there have been more than one thousand deaths in the city from Cova nineteen as of Wednesday an increase of twenty one from Tuesday mayor. Mike Duggan says the vast majority are seniors and a number of those reported are catch ups from previous day's officials also spent a good amount of time on Wednesday talking about the census including an appearance by rapper. Ice where Vizo. Who's being an ambassador for the city? The census has huge importance as many things are determined by it including representation in Congress and federal funding for local and state governments people of Color and illegal immigrants historically have been very hesitant to fill out their census forms for a variety of reasons including severe mistrust of the government right. Now it's estimated that only forty two percent of city residents have filled out the census. Jerry I have a question yes. Are you familiar with ice? Whereas until today I was not me neither. I'm not to look. Meanwhile the corona virus continues to spread beyond the core here in southeast Michigan in West and Central Michigan. Twenty eight residents of Ingham County and nine in Arizona. County have been infected by a Kobe. Nineteen outbreak that's been traced to a massive Industrial Poultry Farm the Lansing State Journal reports that her Brooks Poultry Ranch first reported that an employee had tested positive for the corona virus. Two weeks ago. Her Brooks is the largest egg producer in the state and it employs hundreds of workers including many immigrants. It's massive hangar. Barnes are visible from Interstate Ninety six between lansing and grand rapids. The farm says it's now doing widespread testing of workers has put into place strict protocols and has shut down a portion of the ranch to prevent spreading the virus. It's interesting how this Food system is being impacted by the Corona Virus Fan. It's something that we've been watching No doubt about it And especially there's news out today that President trump is involved invoking the defense production act which she used for GM famously to force them to start producing ventilators. But now I'm trying to get meat. Production plants back to work You know because a lot of these in rural areas have become real hot spots for corona virus infection. Do we now get to call him the commander in chief? I wonder He's said to be a famous. You know steak eater. He likes steak. Well done with catch up so Yeah I think so. Eight need beep on the old fashioned family meal ready in about ten minutes. Mom It was for dinner. There is big news out of four. This week the Blue Oval reported that it lost two billion dollars in the first quarter. Man That is a big number. What is going on. Yeah big number for sure. Well for blamed its losses on corona virus. It'd actually telegraphed earlier. I think last week that that this huge number was coming so it's not necessarily a big surprise but Again Ford blames it all on the Corona virus shut down. Its plants have all been closed since March. But that really was only the last week of of the first quarter. Essentially Ford is already cut. Its dividends in its deferred salaries for some of the top executives. And it's borrowed fifteen billion dollars from a line of credit one analyst. This week famously suggested that it might be time for forward to stay to begin seeking a merger partner. I checked before we recorded this Ford stock as we're recording. This is currently trading in the five dollar range. Wall Street has been hammering the company for a long time about this and this is only going to increase pressure on CEO. Jim Hackett to You know speed up. His vaunted turnaround a big time and certainly the corona virus. Shutdown is You know you can't fault any company for it but It's not helping matters. They seem not to be clear on when they're going to be getting back to work. It seems like now kind of mid May is the time or before they talked about may fourth and then on top of that that that idea of a merger partner sign that kind of intense to me so then oh for sure In the auto industry I mean you hearing about this. A lot right Former Fiat Chrysler CEO. Sergio mark. Yoni famously you know rang this bell Constantly you know he famously tried to force a merger with General Motors. But that didn't work. I mean auto in legacy auto companies like Ford. Are you know they have a lot of pride right? I mean they still bill for Juniors still the executive chairman you know. He's he's a family cy on and they're still members of his family working for the company. You know there. I don't think any of them are going to take easily to the idea of partnering up with somebody but you know we'll see it's just one idea out there we'll see whether they need to do at Ford. Ford has said that they've got enough cash to get through the end of the year. But we'll see what happens. I mean we. There's there's a long road to go here. One of the topics that interest me a lot is electric vehicles and this next piece of news is interesting because Lincoln is now saying that it has cancelled plans for an electric vehicle to be developed with Riviere. That's the startup we featured on this very podcast and for Detroit public television. We went out to their facilities. You talked to their CEO. This seems like a big deal. What's happening? Yeah this one would kinda came. As a surprise I think to a Lotta people and left scratching their heads Backstory here real quick Ford last year announced it was going to invest five hundred million dollars in Ribian and earlier this year. Lincoln confirmed that it would be building an electric vehicle using ravines technology and their electric vehicle platform Lincoln now says it's canceled those plans and will instead move forward developing its own electric vehicle And actually just today. The news came out that they have applied for patent protection on a name eagle-eyed which is believed to be that's fan. It's believed that's a name believed to be an electric vehicle name most most Auto names nowadays that have an e in them. You know. Sorta signify electric vehicles further apart. Both Lincoln and Ford and Rivi on the other side. Say The partnership remains intact remains strong and they will work together in the future Lincoln followed up by saying that it will continue to work with a ribbon on a quote unquote alternative vehicle. Whatever that means. We'll they're going to work on stuff in the future. What's the reason behind this? Well I mean you have to go back to the finances that we talked about In the beginning of this segment right I mean two billion dollar loss in the first quarter and then coincidentally Ford is warning that its second-quarter is going to be worse. They're actually forecasting that they're going to post a five billion dollar. Loss in the second quarter. I mean that's a huge staggering number. Right so I mean Ford offered as you know reasoning for this cancellation The quote unquote current environment. You know referring to plant shutdowns And the corona virus in cash. Obviously he's playing a huge role in that Decision frankly it's just probably not the best time for them to be investing in high priced premium luxury electric vehicle from from Lincoln. Right which is what we'd be talking about here Sales are you know slowed here in the United States? Certainly I mean. I don't think anybody thinks that they're going to rebound You know in a hurry once once production picks back up and you know stay at home or orders are lifted Even before the corona virus hit sales were slowing dramatically in China which is a hugely important market. For Lincoln it's been a big growth market for them And I would also note that Tech Crunch reported also that Ford has pushed back the launch of its autonomous vehicle Service with its partner Argo. Ai Two twenty twenty two. That's a year long delay. So I think you're seeing this. A lot of auto companies are trying to delay research. Projects Product Launches New Investments. Just trying to conserve.
"ceo sergio mark yoni" Discussed on Daily Detroit
"Season quality hard work i'm at a south america was made up without them there is no future i have one and only one and vicious price if either best what else is there if you found the news it all you probably already know that lee iacocca the former ford and chrysler executive who not only help bring the mustang into the world but also brought chrysler back the brink has died at the age of ninety four at coachella is probably best known for his time as the president and ceo of the chrysler corporation and later chairman chrysler hired iacocca in the late seventies when it was hemorrhaging money he successfully lobbied congress taback one point five billion dollars in loan guarantees help keep the company afloat the company paid back all one point two billion of the money it borrowed seven years early thanks to extensive company wide restructuring and hit products like mini vans in the fuel efficient k car although we moved to california after his time in detroit his legacy here is important in in many ways and so what i wanna talk about a little bit 'cause i know that i mean you do auto coverage edge various things i mean my mentor actually and i'm looking to get her on the show one of my mentor is interviewed lee a quite a few times i'm hoping to get her on the show to talk about it but he hasn't really colorful history he's one of those people that love or hate him he always fill the seats yeah he was everywhere in the eighties you kinda personified detroit in a sense like he was sort of this no nonsense a can do every man like fix it man kind of and i think he you know garnered a lot of respect through his performance performance and his ability the turnaround chrysler and i you know i just got thrown out here too because my memories of people like that of the eighties are like you know there was a time when everybody became weirdly in him explicit inexplicably obsessed with vanna white you know the women who turns the letters on the air but i mean she was like huge for a while i don't know why an oliver north remember him i mean so those kind of the company keeps in a way but he was he was sort of seen as you know not only the pitch man but he was just sort like everyone looked at him like that guy and fix it in fact i think a in nineteen ninety eight didn't earn sorry nineteen eighty eight she was seriously considered for presidential run right yet he was i think to a different presidential cycles but he always kind of shocked and you know never it never went anywhere i think offer a senate run to maybe in the early nineties i think i read one of the things i thought was interesting about him is that he was really an example of the power of a family patriarchy and family like businesses in detroit one of the things was that he had so how much power at ford with lunch at the mustang and everything and one of the things i saw that she helped verse yeah he helped make that happen and the thing is is he's still got fired henry ford the second still booed him out the door and his reasoning at least according to multiple sources was i just don't like him right and he i think he there's a little bit of resentment that here's this outsider who didn't have the ford name but you've also read be a li iacocca autobiography right i have i have a copy of it i got from one of those little free libraries and you it's one of the books i intend to reid eventually but a disney made he made some serious allegations he had i know he he did not have kind words were henry ford the second he thought that he had a lot of ethnic end racist biases so i cocoa at chrysler they're became sort of the face of the company he appeared in all their ads for the longest time we just aired a little bit at the top of the segment and his his famous marketing slogan was a pretty junior sexually if you find a better car by it nice and straightforward foreign right frank i gotta say chrysler's had some great ad campaigns over the years i mean even if you think about the important from detroit impact that that made coca had left mix legacy with chrysler he actually got a lot of scorn because it is one of the things they need that is dive into with obituaries and books is that he end a crooked korean the mound in the billionaire investor yeah they tried to mount a takeover bid for chrysler and it was unsuccessful but i this is right after i think i read for skews me i think maybe like a year before a dime lower the parent company of a mercedes benz ended up buying you know merging with chrysler merger of equals quote unquote which was not will end which was disastrous and then so one might even wonder what were they write what was it would have been what did they have been better off under a korean an end i coca 'cause you had dime a dime and then now it's part of yacht and we all know the shopping yeah they're shopping those brands 'cause we got a former ceo sergio mark yoni who recently died has said he said that there is no way that the chrysler is gonna be competitive long term 'cause it doesn't have the resources right they they need bigger scale but a chrysler interestingly scrapped the plan to name the headquarters in in auburn hills after lee iacocca after this failed takeover but they saw it as a kind of traitorous act in a way i guess yeah i mean complicated but impact the legacy see less links the obits in the show notes if you're interested in metrodetroit unemployment rate is running higher than the national average and the jobless rate is increasing across the region that's according to new data released today nationally unemployment rate sits at three point four percent from may of twenty nineteen however metro detroit's rate is the highest nationally at four point three percent that's held basically steady for awhile however a couple of what the bureau of labor statistics calls divisions divisions that make up metro detroit has seen increases of point eight percent in the jobless rate both areas that cover wayne county in oakland county up through farmington tacoma lakewood washington shares the highest jobless rate in the nation end the detroit warren with only a division and that covers mostly wayne county sits at five point one percent state of michigan has issued new emergency rules outlining requirements for new marijuana businesses now the voters have legalized recreational we'd the rules are meant to help local municipalities in perspective business owners decide whether they wanna participate in the new industry the new rules are much less strict then those governing medical marijuana businesses for example there are no capital requirements cornerman suffer adult use business licenses some medical marijuana facilities had to prove they had as much as half a million dollars in capital to get a license trading plants and seeds between licensed growers in businesses will also be allowed as we'll expanded home delivery applicants will also have to submit what's called eight social equity plan which is meant to encourage participation by people who've been arrested or penalized under previous marijuana prohibition laws the state's marijuana regulatory agency says it plans to begin taking business applications november first high end grocer plum market opened it grab and go food spot today in downtown detroit the market has a focus line of groceries like eggs and milk but from reports and in the windows yesterday it's mostly grab and go stuff they have mon jim lau sushi rolls and part of it is easing remains coffee shop so jared what i hear you saying is that although it's grocer and definitely a nice addition to downtown detroit which needs more of the same a this is really kind of office crowd maybe yeah i mean there's definitely staples there but if you're gonna do like a full shop just end this is from looking at the pictures that contributed randy randy walker sent us some stuff that i took a look at an i'll say this he said he wasn't press he said it was a really bright and he was impressed the amount of groceries they could fit on their smaller shelves was what's kind of impressive but i gotta say this than i don't know if there's anything more new detroit then mowatt champagne dispenser yeah yeah i saw the pictures of that that randy some it's amazing do so this is like a vending machine literally of one hundred eighty seven milliliter split the mullet enshrined on which is very nice champagne and i think i think it's fifteen bucks right so you insert the catcher or presumably you're you're debit card and out pops a little split a champagne very nice new restaurant is coming to downtown farmington it's called detroit eat and that each with a v you know who how we love our z's daily detroit yeah you could go there and bring it back to the briggs houses each year detroit eat that that brings how anyway detroit each plans to open some time before october first any former burger king but here's the kicker cranes reports the there'll be serving not just their standard menu of burgers sandwiches and salads also volk deli meats and cheeses through the drive through window that's absurd i take it outside a quarter pound of a corn beef sliced then please i mean my uncle though i haven't uncle he's he's a window washer i mean but why not though what's wrong with that like i mean i mean when you're grocery market deli counter but you don't have to get out of the car 'perfect from metro detroit that's true that's true i'll say this though a shark coterie drive through now that signed me up that fancy detroit city f c pounded toledo villa on sunday six bill to extend their unbeaten beating streak to nine games social their ninth straight game with out conceding a goal the rouge now heading to the long holiday weekend in the top spot in the nps so great lakes conference division with two big games scheduled against their strongest rivals in joining us to talk about this is fletcher sharp are soccer correspondent and host co host of outer drive podcast blitzer how's it going it's going pretty well good but i have a wife surmise trade cities held their opponent scoreless in twenty minutes in that timespan you could watch the titanic like four times that's good that's good enough it's been like that yeah so i actually went down to key worth yesterday took my son was my first game that i've been able to go to of the season and fletcher man i gotta say i came way really impressed i mean toledo did not strike me as all that bad of a team i know they've really struggled this year i think they've only got one win all season but they you know they gave a city a pretty good match match at least for the first half an hour or so but you know cities really just playing some really good soccer there faster athletic they keep the ball moving a you know nobody really stays on the ball very long they win fifty fifty balls and they limit mistakes well dear first point toledo really isn't great they they got their first win recently against columbus and action knock them out of the playoff picture as a result but to detroit point they've really.
"ceo sergio mark yoni" Discussed on Daily Detroit
"Milo is a marketing agency that produces amazing experiences for audiences. They partner with their clients to drive business and create innovative content Duke. Cool stuff with them at Milo DOD agency, as we mentioned Fiat Chrysler, is withdrawing its thirty five billion dollar proposal to merge with French, automaker Renault, the move comes just ten days after FCA first announced the proposal. It follows the Renault boards failure to reach a decision on the proposal, after it sighted, the French government's request to postpone a vote. The Wall Street Journal also reported that Nissan's two representatives on the Renault board also objected, if you're wondering what the French government and Nissan has to do with all of this. Well, Renault owns a big chunk of Nissan and the French government owns a fifteen percent stake in Renault Fiat Chrysler, is board met Wednesday evening and voted to withdraw its proposal with immediate effect saying, although it remains convinced of the compelling rationale for the merger quote, it has become clear that the political conditions in France, do not currently exist. For such a combination to proceed successfully. Separately. President Trump said he may Levy tariffs on all imported goods from Mexico starting Monday because of the surgeon legal immigration across the southern border. It's a move that has huge ramifications for the auto industry and consumers. Spend talked with Kristen g check of the center fraud, motive research for more perspective. Here's that conversation. Fiat Chrysler, has been trying unsuccessfully for years now to try and find a merger partner going back to other late CEO Sergio Mark Yoni. Remind us Kristen. Why is that Chrysler so eager to find a merger partner? Well, Chrysler is the smallest of the Detroit, three automakers in one of the smaller automakers in general, and they're looking to tie up with another automaker to help share some of the costs that they are going through for developing vehicle programs, and especially for new technologies like electric occasion and automating. Those are big giant bets being made by the biggest car companies and in order to compete. With that. You need a lot of vehicle volume to share that, that are in D cost to spread it across then, Fiat Chrysler, just doesn't have that kind of all ume right now globally. But if they, you know, marry up with someone they can share those big risky investments and have lower cost per unit, but to compete in this world, you've got to be on the forefront of both of those technologies given the complexity of the ownership of the Renault group, you know, considering its involvement with the French government, it's alliance with Nissan and Mitsubishi was this any surprise that this merger proposal didn't work out. You know, it was a friendly proposal to the Renault board. So Renault was, you know, had been engaged in this and was welcoming to the proposal, but it was going to be a complicated deal, if even if the board did approve it, you mentioned, the French government, the Italian government wanted to have a hand in this as well. Of course, there's Renault was part of an alliance with needs Nissan. The tradition, and those two partners as well as the Japanese government might want to get engaged in this as well. And even when we turn here to the Fiat Chrysler, US, they're considered a foreign company by the current administration, and that might engage the committee for foreign investment in the United States, which is a review committee, headed by the treasury that looks at any kind of investments in, in the United States than whether they compromise US national security. The administration has already declared that automated vehicle and electric ation technologies are critical to national security in a proclamation. The president just put out a few weeks ago. And so we would expect that, even if they did move forward, a tie up that was involved in sharing those technology development costs might trigger a committee for foreign investment in the US review, as well, interesting. How big of a setback is this for Fiat Chrysler, and, you know looking? Out there. Are there any other candidates that might make better sense as a merger partner for them as a lot of candidates to make some sense for them? You know, we internally here in the office, we sometimes they will it could be like the biggest refrigerator maker in China or something. Somebody who's got enough money and wants to get into making vehicles in the US or having a US European footprint. So, you know, there's technology companies that are you You know, know, I I mean. mean little toe hold into the auto industry, something like apple Google. And of course, school Waymo is working with FCA on using their vehicles, as, as a basis for their automated vehicle testing the Pacific is pretty good for that. Hundai Kia was thought about, as a potential partner as well. Hyundai Kia, of course, is very strong in cars and sedans and small CV's and FCA here in North America is a truck, and big issue, he'd company, so there is some logic to that footprint Mazda, which is tied up with Ford at one point also is not doesn't have any US basis and doesn't have any trucks. So, you know, the, the allure of the truck the Rams and GPS brand are very, you know, prime brands and, and, and prizes for automakers who might want to tie up with FCA NFC as much stronger position now than. It was, you know, even just a few years ago when the market was looking to marry up with GM or any other companies they've grown their market share to fourteen percent of the US market. You know they're they're doing quite a bit better than they were. So, you know, there are a little bit more attractive, and they've got great manufacturing knowledge that some of the new entrance to the automotive industry. It takes a while to learn what this industry is built up over a hundred years since, you know, tesla has turned, yes, yes, all right? Let's switch topics a little bit and talk about one of the other big issues looming over the auto industry. And that's the potential tariffs set to go in place next week against all goods imported from Mexico. We know that there are a lot of cars and car parts that the US automakers frankly Lada, automakers build in Mexico and get sold here in the United States. So what would these tariffs means specifically for the auto industry? It's not just that we get cheap parts Mexico and put them in cars here in the US or that we get the. Nichols from Mexico that sold in the US about fifteen percent of sales in the US last year were vehicles made in Mexico, and they're made by every automaker just about, you know, not just a Detroit, three issue, Nissan, and General Motors. You know, go back and forth as the top auto manufacturer in Mexico, but about thirty seven percent of our parts imports from the whole entire world, come from Mexico and thirty seven percent of our parts exports to the rest of the world. Go to Mexico and something's crossed the border multiple times. They're built up into systems and components that then eventually get put into a car every automaker in the whole wide world uses low cost content, and, you know, we have Mexico right next door. And that means that there is some US content and just about everything that's coming to us from Mexico, but everybody uses a Mexico, and it might be called Poland Slovakia or China or Thailand, we use those two, but when we use a low cost content provider somewhere offshore, there's very. Chance that there's any US content in that in those parts or components. So if they impose this five percent tariff, we see an immediate increase in prices for vehicles made in the US going up about two hundred and fifty bucks, each and for some vehicles. That's that's the entire margin. It's very small and vehicles made in Mexico, going about eleven hundred dollars at five percent when we ratchet up to twenty five percent of the vehicle made in the US price increases eleven hundred dollars in a vehicle made in Mexico would go up fifty four hundred dollars and that corresponds to about thirty four billion dollars less GDP in about four hundred thousand US jobs lost. It's, it's pretty big and, you know, Mexico and China, which we also have twenty five percent tariff than all auto parts coming from China are the source of a lot of the consumables that you use to repair maintain your vehicle. So windshield wipers, and air filters oilfields spark plugs and, you know, water pumps and a little Motors and things. That might wear out in your car. If you go to the Napa auto parts store, you're going to find, you know, your headlights, and all that kind of stuff are largely made in China or Mexico. These are very low value added parts commodities almost so we do see a lot of that coming from these low cost countries as well. So just keeping your own car, if you're not in the market for a new car, keeping your own car, and maintaining it, and repairing it, it's going to cost more when we have twenty five percent tariffs. So pretty big sticks for the auto companies and consumers alike. Right, and suppliers are really in a jam here because, you know suppliers, don't have a lot of pricing power with their customers. A lot of them are, you know, smaller suppliers. And so they can't say, you know, hey g m my you know, inputs there now costing twenty five percent more, so you have to pay me twenty five percent more for this part. So suppliers are really in a jam. They've got much smaller margins and they're going to be facing much higher. Input prices from from these tariffs, and there's, there's just not one. There's not enough capacity. It's all back, you know overnight like or in two weeks. And there's also a whole bunch of things that not only do we not make. But maybe we don't want to make you know the wire harness is one that's just quintessential part from, from Mexico. It's a bundle of wires, that's held together with tape, very manual process. And then somebody puts little connectors on the end of it. It's basically the veins of your car gets threaded through and, and connected to everything electric in your car, and we could not afford to make those in the US paying wages, you know, people in the US wanna be paid. It's not an easily automated process, and, you know, the other sources we get those from our in central and South America and cheap places in Asia. So if we're not going to get it from Mexico. We're going to get it from some other low cost country. And, you know, I I just don't see policies that change. You know, in two weeks are not enough are not giving anybody enough time to reassure and react. And with an industry, that had overcapacity as an issue as recently as ten years ago, we went through a lot of pain of closing, that's and adjusting to having too much capacity in North America. This is an industry that does not want to get in that overcapacity situation. Again, and have duplicate capacity just to work with these ever changing trade policies, and the last thing I want to say about it, though is the more time money effort is spent on moving your supply chain around and trying to figure out how to adjust to this, this ever changing trade environment. The less money that's being invested in people and plants and products and innovation that will make this industry more competitive. So, you know, this is just dead weight loss. It's just like you know, we're spending a lot of money, chasing our tail and playing whack a mole and not putting money that money back into the business person. D- check is vice president. At the center for auto mode of research in.
"ceo sergio mark yoni" Discussed on WNYC 93.9 FM
"Longtime Fiat. Chrysler CEO, Sergio Mark Yoni has died following complications from cancer. Surgery he was sixty. Six it's a major blow for the company which was planning to have Marconi groom has. Successor the CEO was a chain smoking racecar driving intellectual known for straight talk and doing things his own. Way Michigan radio's Tracey Samuelson reports on the man credited with saving Chrysler after its two thousand nine bankruptcy in two thousand. Nine Chrysler was broke again and careening towards one of the deepest recessions in American. History nobody wanted. It nobody that is except. Sergio Marchionni a corporate fixer who started out as an accountant later turning around the struggling Italian automaker. Fiat now he planned to do the same with Chrysler KB auto, analyst Rebecca Lynn land was at marquee on his first press conference where he outlined the five year plan to bring Chrysler back to profitability She says you could. Cut the skepticism in the room with a knife but he delivered and that's something that. You've got to give him credit for is man this guy delivered on those plans so we were all. Highly skeptical of Lewellen land says it might not have been possible for someone with less drive or willingness to make personal. Sacrifices like lack of sleep he'd often Email people in the middle of the night. He was hard. On himself and on people. Who worked for him I think he was a demanding boss I don't know that he was unfair. On his subordinates in Italy often called him ill duck Toray those, in the US the boss with a capital b he personally tweet the famous twenty.
"ceo sergio mark yoni" Discussed on WNYC 93.9 FM
"You're. Listening to all things considered from NPR news Longtime Fiat Chrysler CEO Sergio. Mark Yoni has died. Following complications from cancer surgery he was sixty six it's a major blow for the company which was planning to have Marconi groom has the CEO was a chain smoking racecar driving intellectual known. For straight talk and doing things his own way Michigan radio's Tracey Samuelson reports on the man credited with saving Chrysler after. Its two thousand nine bankruptcy in two thousand nine Chrysler was broke again and careening. Towards one of. The deepest recessions in American. History nobody wanted it nobody that is except Sergio Marchionni a corporate fixer who started out as an. Accountant later turning around the struggling talion automaker Fiat. Now he planned to. Do the same with Chrysler k BB auto analyst Rebecca lend land was at marquee on his first press conference where he outlined the. Five, year plan to bring Chrysler back to profitability she Says you could cut the skepticism in the room with a knife but he delivered and that's something that you gotta give him credit for is man this guy delivered on those plans so. We were all highly skeptical of Lynn land says it might not have been possible for someone with less drive or willingness. To make personal sacrifices like lack of sleep he'd often Email people in the middle. Of the night. He was hard on himself. And on people who worked for him I think he was a demanding boss I don't know that. He was unfair Maccioni subordinates in Italy often called. Him Il duck Toray. Those in the US the boss with a capital b he personally tweaked the famous twenty eleven Super Bowl commercials starring.
"ceo sergio mark yoni" Discussed on Bloomberg Radio New York
"Fiat Chrysler lowered its full, your targets today after second quarter profits sing thirty, five percent but the car, maker confirmed it had eliminated net industrial debt the automaker announced its earnings shortly after, the news. Of the death of longtime CEO Sergio Mark Yoni who was quickly replaced over the weekend after a sudden deterioration in his health the new CEO Mike Manley spoke to investors this morning personally. Having spent the last nine years of? My life seeing or token to surge Almost on a daily basis This morning's news it's heartbreaking but it will also be heartbreaking for many other people There is no, doubt that says yo was a very special unique man and there is no doubt but he's going to. Be sorely missed the company, generated eighty five percent of its earnings in North America Coca Cola beat analysts estimates in the second quarter but investors are thirsty for more we get more from Bloomberg's Gina Cervetti since taking up the helm a little, over a year ago CEO James Quincy has been trimming expenses and trying to, shift the soda giants portfolio toward. Healthier drinks Co. posted second quarter sales profit that. Topped analysts estimates with its diet coke rebranding and a double digit boost in Coca Cola zero. Sugar helping results and. Well Quincy's managed to revitalize diet coke even as some consumers turn away from artificial, sweeteners the company's stock has been stuck. In neutral shares of coq. Have been little changed year today Gina Cervetti Bloomberg radio he has shaken up the establishment when it comes to music. Aviation trains and banking what makes billionaire, Richard Branson targeted industry he spoke with, David Rubenstein the only reason, we would go into new sector is if we felt it was being badly run by the people so The reason we went into trains was the. Government or running trains in every every new sector, that we've gone into we we've. We've seen a gaping gap, in the market where the big guys have not been doing very well. In. The way we can come in and shake up an industry you can watch all of that interview with Richard Branson tonight on the David Rubenstein show that's at nine pm New, York time on Bloomberg TV or listen to the interview tomorrow at five pm, right here on Bloomberg radio coming. Up President Trump's deregulator are emboldened by the Cavanaugh. Pick for the high court I'm Julie Hyman this is Bloomberg.
"ceo sergio mark yoni" Discussed on WHAS 840 AM
"NewsRadio eight forty w. h. a. s. I am Leland Conway By the way super Dave did you Did you see the? Video, that. I posted This weekend I was up in Montana Montana Did you see the video where I got? Kinda stuck on the. Side. Of the, mountain that was pretty cool okay so I, there is there's this place called highlight canyon which is about forty minutes or so, south of bozeman Montana in. Gallatin mountain range and. It is a stunning I post some pictures there's like a. Lake back there and they call. Them circus it's where these. Really high mountains you get up above. Treeline they have these kind of permanent snowfields they create this sort of half circle. Around lakes and streams and stuff like that and you can see there's. Like three or four of them back there you get way back in this canyon and these mountains are. Just towering up on all sides of, you and there's a place. Called Palisades falls which is an easy hike it's actually, to get to the falls is easy. Hikes like half mile or something like that it's. Not, very far and you get back there. Well the the. Falls comes over and it I don't know it's probably a hundred feet or so nice big falls. Coming off the top of this straight, cliff and then you're surrounded by these mountains but. There's this what you call, screener Field which is basically loose. Open rock that goes at a stronger than forty five degree angle up. The side of the mountain now the thing is you gotta get up there to the top of that. Scree field before you get to a, point where you can see. The real views the problem is loose rock is kind, of hard to get back down without. Killing yourself so I posted a video of it. It's, pretty awesome and it's got some great. Views of this. Mountain range so check it out because it I've got it up now I was stunning and on. Twitter stunning join me now Emily Taylor, US lawshield hey Emily how are you Excellent How are you I'm good effingham county Illinois. Is becoming a gun sanctuary okay explain what this is because Illinois is very anti-gun but. Apparently some sheriffs in some of the. Counties of the, state where more rural areas where people still appreciate the. Second amendment are going you know what if Chicago can be a sanctuary city for illegal immigrants then my county can. Be sanctuary for gun. Toting, second, amendment loving Americans Exactly and its essence the same idea so what these. Sheriffs are saying is, we will, not allow rest a gun owner, for the sort, of firearms, crimes that the state of Illinois would like to make unlawful they. Want? You to feel safe and exercising your? Second amendment right and they're essentially? Saying we can't change? The. Law but what? We can. Do is. Refuse to enforce it which is. Virtually, the identical flipside of this sanctuary city coin when, it comes to emmigration so what kinds of I guess crimes if they created in Illinois that would be you know like someone here in, Kentucky would just? Be practicing their second amendment right what what are we, talking about here what kind of agreed just laws. Are we talking about Well I think the biggest culprit in, Illinois and of course bear. In mind that I am a Texas with them you know all of, the second amendment freedoms Hasley, wanted me to enjoy down here but from what I understand the biggest culprit in Illinois is essentially the list of firearms that. Are, born on the state level and. So whereas down here in Texas and my guess would be up there in Kentucky as well as long as the federal government says it's okay the state is gonna say. Yeah sure thing we might legislate what you do with that, gun? We're not going to legislate what you can possess, right where it states like Illinois Maryland California have shoes, lists of banned gardens where they say you know it might be legal on a federal. Level but not in, my state, I love the sanctuary county idea, though because if, one can, do it if it's good for one it's good for the other. And? And I don't believe that it's right? For counties to disobey federal law? To harbor illegal immigrants But. What's interesting about this twist on it is that these counties are disobeying, state law to protect federal, law and federal rights it's, almost like a better use of the idea of sanctuary then is a sanctuary city for illegal immigrants Yeah What the retribution will be on the state, level I, think is to be. Seen sometimes the best tool state has to cut the sort of stuff off is. Purse-strings bacon start, saying, well you want to refuse to enforce these gun. Laws, well I hope that you weren't counting on your stage money from the budget this year because until you comply with what we, want we're not giving it to. You, yeah Emily Taylor US. Lawshield we always appreciate your. Commentary thanks for coming on with. Us Thank you all right Yeah you're right Dave what's going to happen is. Those counties will grow that's good marketing because Illinois is trying to tax you if you want to try. To leave, the state in fact if, you sell move counties you sell your house in Illinois to move. Out of the state they assessed the tax after, you sell your house they won't let you leave the state without paying tax noggin has moved. To a. New county that's right and then still? Have. Your gun rights. Brilliant I. Love it. All right let's see what do we have left on the docket global warming, update coming up next the city wants to hug more trees right now though. Your citizens Union Bank Bloomberg money update on NewsRadio eight forty w. h. a. s. this is. A Bloomberg market minute stocks are little changed as investors assess earnings. And focus on trade the Dow is down sixty seven points at twenty five. Thousand one seventy four the s. and p. five hundred is lower by a point. At twenty eight nineteen the NASDAQ is. Up ten seventy eight fifty automakers are declining after two of them lowered their outlooks General Motors cut its forecast for profit this year amid surging prices. For steel. And aluminum Fiat Chrysler. Cut its outlook after disappointing, sales in China heard it's results Fiat's earnings followed news that former CEO Sergio Mark Yoni had. Died at. The age of sixty six US investors? Also. Watching trade ahead. Of a. Meeting between. President Donald Trump and the European Union's trade chiefs and today we're also watching, the June report on new home sales checking crude oil this morning it's little. Change to higher up about a tenth of a percent at sixty eight dollars sixty one cents. A barrel Gina Cervetti Bloomberg radio turn art world on its per. Verbiage ear Cossutta Pollick opening juice sixteen at the speed art museum the.
Bloomberg, Boeing and Fiat discussed on Glenn Beck
"This is a Bloomberg market minute shares of Boeing or moving lower in premarket trading. They're down four percent before the opening bell. The company reported a four hundred eighteen million dollar blow from additional costs as it prepares to deliver the first of its much delayed aerial tankers to the air force. The stumble, Martin otherwise strong quarter for Boeing with profit and sales beating Wall Street estimates. The plan by UPS to cash in on surging ecommerce is running into a snag. Higher costs in it's crucial. Domestic package business. The US unit earned eleven cents for every dollar of sales in the second quarter down from about thirteen cents a year. Earlier, automakers could be in for a bumpy day after two of them lowered their outlooks General Motors cut its forecast for profit this year. Amid surging prices for steel and aluminum Fiat Chrysler cut its outlook after disappointing sales in China, hurt results, Fiat's earnings, followed news today that former CEO Sergio, Mark Yoni had died at the age of sixty six. Gina Cervetti. Bloomberg.
"ceo sergio mark yoni" Discussed on WHAS 840 AM
"One eighty four. Eighty four if you'd like to be on the program here this morning Leland is off today and tomorrow I'm Doug, Kelly? Tuning in. And the phone number five seven one eighty, four eighty four LeBron. Will join, me in just. A moment we'll talk more about the. President's very provocative tweet about Iran from overnight when we come back but right now it is time brace citizens, Union Bank Bloomberg money update this is a Bloomberg market minute stocks are slipping in early trading, as investors digest warnings from the. World's financial leader About the impact of protectionism on? Growth and crude oil climbs amid? Tension between the US and, Iran Dow is down twenty-seven points at twenty five thousand thirty two the s. and p. five hundred is lower by four or about a. Tenth of a percent at twenty seven ninety eight and. The NASDAQ is, down twenty nine points at, seventy seven ninety one shares a Fiat Chrysler are motoring lower their down about three percent after the abrupt departure. Of. CEO. Sergio Mark Yoni as his health suddenly deteriorated following shoulder surgery Papa John's is down about seven percent the board has approved a so-called poison pill plan to. Fend off any attempts by founder John Schneider to gain a. Controlling interest as the pizza chain seeks to further distance itself from its controversial namesake but, Hasbro is higher up about eight percent so far after beating estimates in the. Latest quarter despite a drop in revenue as it took a hit from the toys r. us. Liquidation Gina Cervetti Bloomberg radio you needed heart surgery who would you call. A doctor who does it every. Day or a doctor who does it once a year the same is true about Erectile dysfunction at..
"ceo sergio mark yoni" Discussed on WJR 760
"To the heart of middle America. This is the great voice of the Great Lakes news talk, seven, six WJR Detroit. Seven sixty WJR news are meadowland rim WJR news time ten. O'clock currently seventy degrees under cloudy skies a Detroit business owners seen spitting. At a security guard's face on a video Facebook video has been charged with misdemeanor assault and battery fifty year old Robert stance ler was arrested by Detroit police officers. Recall to a disturbance outside his business authorities say he was upset about. People parking on his property at eastern market he made an up seen gesture and spat in the. Face of Abraham phase on definitely was the and it was, disrespectful, to a place I'd ever well never been although stance lower has since apologized for his behavior he has. Faced significant financial and social backlash Fiat Chrysler automobile announced Saturday that CEO Sergio Mark Yonis. Health had suddenly deteriorated following surgery and that its board of directors at chosen Jeep executive Mike Manley to replace him the Sixty-six-year-old Italian Canadian joined, Fiat in two thousand four and led, the turn based companies merger with banked up US carmaker Chrysler Gaza's militant HAMAs rulers. Say they have accepted a ceasefire ending an Israeli onslaught on militant positions. After a soldier was shot dead correspondent Ian Lee says there is a continued search for a long-term peaceful solution in the region what's going to stop it from continuing. Is going to be a more long lasting truce and that is going. To be the challenge of international community to try to get something Where both. Sides agree to keep the calm on the border a Detroit man was robbed while sitting. On his front porch on the city's west side two male suspects can be seen on..
"ceo sergio mark yoni" Discussed on WBZ NewsRadio 1030
"It and a reminder you can listen to wbz radio anytime on the iheart radio app down voted for free secretary of state rex tillerson is in warsaw poland where he held a joint news conference with the polish foreign minister tillerson applauds poland a nato ally in the country's effort to increase defence spending within the alignment with strictly committee in poland for already achieving the commitment of two two percent the spirit of defence spending and have polar has set targets that are even above the two percent level tillerson says his earlier talks with the prime minister included ways in which to strengthen the strategic partnership between the us and poland the audio the auto industry is keeping close watch on the nafta negotiations and montreal reporter jeff gilbert on what's at stake four carmakers any changing nafta could have a big impact on the auto industry gm ceo mary barra wants to avoid on intended consequences aligned with that the administration that we want to preserve jobs fiat chrysler ceo sergio mark yoni gives already shifting production to protect against future tariffs zia restore the inequity in the imbalance we've done everything that we can to boot right auto industry groups have been actively lobbying to minimise the impact of any changes to nafta jeff gilbert force cbs news detroit the patriots practice this morning with the super bowl in minneapolis just one week away wbz's mike macklin caught up with the team trey flowers is looking forward to what he hopes will be his second consecutive super bowl championship as a patriot super bowl is what one who's younger you know yards june about you know at some point in time to serbian in his big game so you will work hard all year to put us if in his position and we are in his opportunity so gotta make the best of the defensive end of arkansas has been aggressive at his position the past two seasons sacking the opposing teams quarterback with some regularity he'll zero in on eagles quarterback falls a week from sunday hoping for a second consecutive super bowl championship in foxborough mike maqlid wbz newsradio 1030 wbz radio for complete super bowl coverage karl stevens zan adam kaufman will be in minneapolis and booby mini annapolis for the big game and they'll be reporting all week i guess i have to learn how to say meaning many annapolis mini annapolis will keep practicing the first ever indoors cycling event comes the fenway today belly stars the.
"ceo sergio mark yoni" Discussed on Bloomberg Radio New York
"Of the murdoch family empire including the twentieth century fox film studio and the fox stake in uk satellite providers sky in comcast is also said to have expressed an interest in some of these assets we'll see it cries leising talk with south korea's hyndai moshe about a partnership to develop hydrogen engines we get more from bloomberg's remy inocencio electricpowered autos are of course the dominant technology when it comes to post fossil fuel technology but fiat ceo sergio mark yonis says the alliance which will also cover transmissions has the potential to become a strong one hendaye initially led the commercialisation of fuelcell vehicles but has fallen behind toyota in terms of sales and fiat backed away from hydrogen power early this decade still marconi says is no likelihood of a merger with yande ramian asencio bloomberg daybreak asia or european industries from steele to solar are bracing for a new set of tariff rules but chinese exporters maybe smiling that story from bloomberg susanna palmer that speaker new rules make it harder to fend off low cost imports from china and other foreign countries eu governments are set to approve a new more chinafriendly method for calculating duties that are aimed at countering below cost or dumped imports the chinese government has demanded more favourable treatment under the world trade organization and it looks like it'll get us and an era of protectionist trade policies in the us susanna palmer bloomberg daybreak asia so we are seeing a lot of pressure here on the equity markets as i mentioned do with anc index down about nine tenths of one percent but doug you know in a sense so market practitioners would say you'd rather see if you're long you'd rather see them open down and then maybe come back a little rather than the reverse but don't listen to me i dumb alex smith onto waivers in the middle of the week today picks up on monster all appoints what do i know well i mean look what's happening inside the hang sang information tech high valuation maybe there is something to be said for uh i mean lock in in some.
"ceo sergio mark yoni" Discussed on Bloomberg Radio New York
"This would include twentieth century fox film studio and the fox stake in the british satellite providers sky comcast is also said to have expressed a bit of interest in some of these assets as well hollywood is lobbying for a crackdown on piracy in singapore more from bloomberg susanna palmer singapore prides itself for being a haven for law and order but now disney hbo and the national basketball association are calling the citystate a haven for pirating copyrighted material the coalition against piracy is twenty one members also include divisions of sony in 21st century fox and it's asking singapore's government to block software that currently allows viewers to buy legitimate settop boxes and then stream pirated programming the devices are commonly sold at electronics shops and on ecommerce sites including alibaba susanna palmer bloomberg daybreak asia in the auto industry fiat chrysler so to be talking which south korea's hyundai motor about a partnership to develop hydrogen engines the story from bloomberg's rimi inocencio electricpowered autos are of course the dominant trick knowledge eu when it comes to post fossil fuel technology but fiat ceo sergio mark yoni says the alliance which will also cover transmissions has the potential to become a strong one hendaye initially led the commercialisation of fuelcell vehicles but has fallen behind toyota in terms of sales and he has backed away from hydrogen power early this decade still marconi says there is no likelihood of a merger with hyundai ramian asencio bloomberg daybreak asia another busy week coming up on wall street more now from bloomberg's charlie pellett after two weeks of gains for us stocks wall street we'll have plenty to sift through this week including a jobs report and the threat of a government shutdown and then there is the international landscape jim paulsen is chief investment strategist at lose hold wedin capital management i think that a lot of the other uncertain news including things like north korea or a political uncertainties i think you've already protect yourself against those things are unpredictable it's called diversification and beyond that you probably are not uh go down there in terms of letting that affect your investment choice too much country setting monetary policy will include australia brazil canada india and poland and among the companies reporting earnings this week told brothers bank of montreal broad com ltd hr block and dollar general in new york charlie pellett bloomberg daybreak asia are i.