35 Burst results for "FCA"
Binance Runs Into Trouble Around the Globe
"The hits keep on coming for crypto lately. The uk's financial conduct authority has ordered crypto exchange by nance to stop all regulated activities in britain by june thirtieth and has issued a consumer alert against the company quoting the financial times by markets. Limited is not permitted to undertake any regulated activity in the uk. The financial conduct authority said adding quote. No other entity in the finance group holds any form of uk authorization registration or license to conduct regulated activity in the uk and quote by nance markets limited is not approved under the fca's cryptocurrency registration regime which is required for uk groups offering digital asset services. The entity had applied to become a registered cryptocurrency company with the regulator but pulled that application last month according to to people familiar with the situation. The watchdog confirmed the application had been dropped quote filing intensive engagement from the fca. And the focus in deciding whether or not to approve. Such applications is on a review of controls and practices to prevent money laundering and the financing of terrorism. Finance is one of the most important operators in the fast emerging crypto market offering a wide range of services to customers around the world including trading in dozens of digital coins futures. Options stock tokens as well as savings accounts and lending. It recorded crypto trading volumes equivalent to one point five trillion dollars last month. According to data from the block crypto and quote actually the hits keep coming for bytedance in particular lately quoting axios this past weekend alone. It ran into obstacles in japan the uk and the canadian province of ontario on friday. The japanese financial services agency issued by. Its second warning in three years that the company isn't registered to operate in japan. The same day finance decided to stop operating in ontario where authorities have issued notices to at least three other crypto exchanges over the past month accusing them of failing to comply with regulations
Combine Chrysler, Fiat, Peugeot and You Get Stellantis. Stella-What?
"The merger between fiat chrysler. Automobiles peugeot began trading. Today under the name still lantis shares rose as much as seven point seven percent and milan where the ticker s. t. la replaced fiat chrysler symbol. While the stocks also gained in paris where the company listed in place of peugeot the fourth largest automaker in the world by volume will also trade on the nyse under ticker symbol. T. la instead of fca you. What kind of name is that. The automaker said it draws from the latin words still meaning to brighton with stars while that may be better suited for a space company. The latin root reflects the combined companies french and italian heritage. The hopes brands house. Understa lantis include pujo. Ciro in ds opel vauxhall alfa romeo fiat lancia dodge jeep chrysler ram and a barth. It'll utilize fiat's ramen. Jeep divisions in north america revitalized peugeot citron brands dead of excelled in europe as well as greater resources to compete with electric car makers that are reshaping the sector the new entity expects to save five point nine billion through combined platforms increase purchasing power supply chain skill and other merger benefits many challenges await. Neither company has much a foothold in the luxury car. Business or china's vast auto market the prior merger of fiat and chrysler also did little to improve the fortunes of alfa romeo and roz herati while psa's purchase of only made the company more reliant on europe. The splashy entrance forced to lantis also comes at a busy time for the automobile industry with gm making a huge electric vehicle. Push and tesla forecast to deliver one million vehicles in two thousand and twenty one.
GM wants judge removed in legal fight with Fiat Chrysler
"General Motors asked a federal appeals court Friday to overturn an order that requires its CEO to meet with the head of fiat Chrysler by next week to try to settle a lawsuit related to corruption by union leaders GM also asked the court to remove US district judge Paul Borman from the case GM is suing crosstown rival FCA alleging that it got an advantage by paying off union leaders to reduce labor costs during contract talks FCA's former labor chief ally a belly is in prison although the company denies that directed any prohibited payments Borman described the lawsuit as a nuclear option that would be a waste of time and resources for years if he allows the case to move
In lockdown, India's manufacturers see their biggest slump yet
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"fca" Discussed on Daily Detroit
"I some top line information. There are now one hundred. Forty six confirmed cove in nineteen cases in the State of Michigan. Between State Data and information provided by Oakland County. Fifty nine of those cases are in that county. The first cove in nineteen death in the state occurred this morning at Beaumont Hospital in Wayne County. The patient was a male in his fifties who had other underlying medical conditions. The Centers for Disease Control has a new national report out today. That says that four out of five deaths so far are those sixty five and older and again. So far there have been no fatalities among children joining me via skype. My Co host colleague and otherwise a man who knows quite a bit about the auto industry and well. We need to talk about that right now. Then of course welcome back to your own podcast too so nice to be back on the air right. Exactly and we're we're practicing good social distancing practices as you're coming to live from your basement in Ferndale so things have gotten kind of gone kind of pear shape with automotive here in the last Frankly this last business day there's been a series of events one of them an incident at Jefferson north. Right here in the city of Detroit and I think that may have cascaded a series of things. Fen what's going on well so the big news is that all three. Detroit automakers have agreed to suspend production through the end of Marcher or through March thirtieth So that's Ford. Gm and Fiat Chrysler and this is coming after a lot of pressure from the United Auto Workers Union so backing up a little bit The UAW has been very concerned about the safety of its workers. I mean these are people who are working Often side-by-side elbow to elbow on production lines in plants. You know going to break rooms together in close contact. You know all the things that we're starting to hear we shouldn't do ride like everyone's you know. They've called school across the state To shut down for the same reasons. The automakers Refused and we're trying not to. They finally agreed earlier. This to form task forces at each auto company in concert with the W to basically look for ways to safeguard workers and and you know safeguard their health. That turned into. I think yesterday an agreement to start sort of slowing down production. They unveiled a series of moves that they were going to do. They're going to slow down production. They were going to stagger Shifts. So they would. They would leave time in between the end of one shift and the start of the next shift to give them time to like you. Know disinfect and clean all the equipment and everything in order to you know hopefully Sanitize and get rid of any lingering. Bits OF VIRUS. That might be around but then today. Yeah you mentioned the incident in Jefferson North. Which is a Fiat Chrysler? Plant where they build the Jeep Grand Cherokee. I believe if I'm not mistaken someone apparently Line worker threw up online People you know janitorial crews were leery of cleaning it up because they were worried you know it might be infected. I guess It set off a series of You know people basically refuse to work and there was somebody to clean it up. Production apparently ground to a halt for a ninety minutes according Free press is reporting and and eventually resume but you know it was a crazy incident Frankly reminded me of sort of the beginning of a lot of Zombie movies like when the outbreak is first happening. And and you sort of witness in real time the breakdown of social order where everyone sorta turns against each other and distrust is sewn and starts to run wild and it's crazy so the the you know the bottom line here is that Ford. Gm Fiat Chrysler are going to be shutting down their plants through March thirtieth. That's the current plan. Well why are they resisting so much? I understood that some automakers had kind of ramped down production like Honda. I read something about that. Why the resistance with the big? Three Honda did indeed just earlier. Today in fact I covered it for auto blog. They announced that they're going to shut down production at all of their plants in North America. So they've got plants in four. Us states plus some other plants in in Canada and Mexico. But that's only going to be for Six days starting next Monday. You know I think a lot of these companies. Don't WanNa you know. Shutting down. Plants is a big deal to huge disruption to Their production to their business flows. You know it's it's GonNa cost them a lot of money. I think the big question here though is How long are these shutdowns? GonNa last Nobody knows because nobody knows how long the you know. The broader corona virus shutdowns are going to last it. It's impossible to tell but I think frankly you know a lot of us. Were wondering like what exactly they were resisting. Because it seems inevitable one way or the other that they were going to have to shutdown. I mean all these companies are citing concern for the safety of their workers in you know making these moves which okay like. I'm willing to take that as certain face value but on the other hand like even if that wasn't part of the equation like at a certain point shutting down these plants would become inevitable because they would build up so much excess inventory that they'd be forced to shutdown to like a line supply with to meet with the weakened demand and bright. I mean nobody's nobody's going out right now and visiting car dealerships to to buy new vehicles like we. I mean we don't have hard data to back that up but when it comes out like when we see March sales reports is almost certain to show a huge dropoff in car buying activity by consumers. Because you know I mean the the those are exactly the kind of things we're being told not to do like limit our limit our trips outside of the house to essentials food and medicine essentially long-term these automakers especially General Motors and dealing with the strike long-term. Is this something that could spell a lot of trouble for the American auto industry it could. This corona virus could spell a lot of trouble for a lot of industries We talked yesterday on the show to Dane Barch from eastern market brewing company. Obviously bars and restaurants are really you suffering right now. along with the people who work in them The auto industry is no different. Look this virus started in China Which is essentially home to the world's supply chain automotive and other industries so a lot of plants have been dealing with just disruptions to their supplies. Essentially they can't. They can't get supplies for of needed components because they've just been disrupted out of China or some other countries where where production is shutdown. Emmy Ford had separately has already announced before they announced that the US plant closures. They announced that they were GonNa shut down all of their European plants. Starting Thursday. So yes this could definitely have a major Impact on the auto industry. How much it is anybody's. Guess at this point. So then it's good to talk to you man even from afar. Indeed it is. Thanks to your Michigan Governor Gretchen. Whitmer is looking to see if the state can work around the US. Federal Government to get testing gets from the World Health Organization. This was revealed in an interview on. Msnbc this morning Michigan is still limited to little more than one hundred cove in nineteen tests per day. This doesn't allow for a full picture of the pandemic locally. There are some that private.
Groupe PSA and FCA agree to merge
"FCA and PSA will bring together jeep ram and Peugeot it'll be the fourth largest auto maker the two companies agreed to merge in a fifty billion dollar deal in the face of mounting costs of making electric and self driving vehicles while global demand for new vehicles is slowing down an important factor for the new company is which platforms will put their products and how many platforms they need the platform is the base of the vehicle which determines their size and how many versions of tooling assembly lines are needed another important factor is the information came from badly a sign that the fiat Chrysler boss may be in line to be the chief operating officer of the new
Fiat Chrysler denies union bribery allegations in GM lawsuit
"Fiat Chrysler moving to dismiss a racketeering lawsuit filed by rival General Motors denying allegations of bribe union officials to impose higher labor costs on GM in papers filed Friday with the federal court in Detroit FCA argued that GM's lawsuit is not based on facts it also argue that even if the illegal acts GM alleges were true a four year statute of limitations on that has expired GM alleges in the lawsuit filed last November that fiat Chrysler bribed officials of the United auto workers union to settle GM with higher costs it after four PM to merge with the smaller at
Fiat Chrysler asks U.S. court to toss out GM racketeering filing
"Chrysler is a moving to dismiss a racketeering lawsuit filed by rivals General Motors denying allegations that a bribe union officials to impose higher labor costs Angie on the papers filed Friday with the federal court of Detroit FCA argue the GM's lawsuit is not based on
Bank of England Picks New Governor to Guide It After Brexit
"We have reports of the financial times and we're expecting an announcement this hour on the next bank of England governor indeed Andrew Bailey is the nineties currently head of the FCC at eight and that many people saying he'll be a very safe pair of hands it was a little bit of criticism of in just a month or so ago when they were trying to handle the wood for the issue which of course slightly hangs over so that's the what but yeah so today is the day the brexit deal starts his way through problem yeah just about two hundred eighty for a second I mean the reason a lot of people say he's a safe pair of hands as he did spend three decades at the BOP previous to his role at the FCA with roles including deputy governor and she's a cashier he's also a well respected academic studied a PhD in economic history and study history cashier he's also a well respected academic studied a PhD in economic history and study history originally at Cambridge you're right that some of the recent criticisms with it he was a bit of a soft touch on financial misconduct but another sort of point of concern I suppose if he is to be appointed as the fact that the new governor is not going to be a woman because the bank of England has already been criticized about the lack of a diverse city among its ranks and of course there were many other kinds is being touted including women alike minutia feet former deputy governor uneven ahead of the Marcy who founded Newton investment management but to your point about the withdrawal bill being put to parliament today as well Roger I mean there's going to be a huge inbox for whoever takes over they'll have about forty days before they have to actually get into the job to really hit the ground running that's a quarter of the time that Marconi and and moving king had to to sort of prepare for the role and in terms of what to look ahead to with the withdrawal agreement bill expecting to be smooth process channel thirty first four out move process John is that he was out but then of course the whole point of the negotiations begin and the fee is this time next year we could still be looking down the barrel of a new deal breaks it and that the pound does seem to reflect that panel full this morning
What is a Mopar?
"What is a MO- par? I realized that not everybody who listens to this show is actually a Mo- part is easiest. You know we've got we've got some creepers. We've got four guys. Chevy guys import guys. This podcast had cast is for everybody. And I want to bring you into the Mo par fold if you aren't already if you're not familiar with Mo Pars and what the the word moped actually means. Let me fill you in. Mo- par is a combination of the words motor and parts. It was first used in the nineteen twenties and in nineteen thirty seven would be used for the first time on actual products starting with cans of antifreeze it evolved into a term of endearment used by moped enthusiasts to describe cars. That fell under the Chrysler umbrella. So think Chrysler Dodge Plymouth. AMC Jeep Ram trucks and now Fiat. What and the brands associated with the Mo par now is a registered trademark used by FCA as a resource for covering parts accessories service and warranties? So you're going to go to the dealership and you're GONNA C mo par service you know Mo- park centuries and things like that as it relates to this podcast for the most part mope ars gonNA refer just to the the generality of the cars so when I say I'm talking about Dodge Plymouth. Chrysler Jeep Ram all those. But it's important that I explain to people that are outside the Mo par world like your Chevy Ford guys. You're import guys that you know you're here now. Let's learn a little bit. You know if you keep listening to this podcast. I promise you you're GonNa learn some stuff and you're gonNA probably figure out that a Mo- par pretty cool. You know. Maybe you came here because you hate mo par and you're like let me see what this jerks all about. Let me see what he's talking about and you're here now and you're like it doesn't sound like a bad guy and you're hearing a couple of cool things and you're like Oh that's kind of interesting you know if you if you listen to this podcast and you've said to yourself. Oh that's kind of interesting. Gotcha Gotcha so go ahead and put that Chevy that Ford that import up for sale and start looking for a Mo- par.
FCA's Tornado Inline-Six Engine Rumor Comes Back Into Focus
"If you've been paying attention to mow par news recently. You've probably heard the same disturbing rumors that I have and that's that. FCA is going to be killing the five point point. Seven heavy in the Pentastar V. Six to make room for a new engine that they're calling the tornado. This engine is rumored to be a derivative of the current turbocharged the charge four-cylinder found in Alpha males and upon its release. It's supposed to be found in S. Rt Vehicles Alfa Romeo and Maserati. Now you're probably asking. Is there physical evidence. Yes some Mo- par sleuth some Sherlock Holmes found. A schematic a technical drawing that shows this engine and apparently it was found on the US PTO which is the United States Patent and trademark office and basically what happened was FCA filed the patent on the design of this engine. So whether smoke there's fire folks so this this may be true after all some numbers that are being thrown around when it comes to. This engine are a single turbo version. Standard that comes with three hundred sixty horsepower there will also be a high performance version that is twin turbocharged with five hundred and twenty five horse. Power I don't know what will be in between those two the numbers but that's pretty impressive. So currently the Pentastar v six I think is around three hundred horsepower and this new inline six starts at three hundred hundred and sixty plus. It's boosted so this is getting interesting so we'll see what happens apparently it's going to be using. FCA's new technology. He called E.. Booster e booster technology. I don't know anything about it. I haven't done research to speak on it but I WANNA do some research and dig up some facts apparently So from what I gathered the booster technology is basically a way that they've come up with to reduce turbo lag electronically that's all I know. Oh and that's barely anything so take my word with a grain of salt now if you have the same mindset as me. You're probably thinking at first when you heard this rumor at first you're probably like they're killing off the five point seven. Hemi what are they doing. But I mean when you look at that I number that three hundred sixty horsepower. Think think about the power output of five point seven Hemi and then maybe you're GonNa Change your mind a little bit because guess what you know with the five point seven Hemi gone. That's okay because we still have these folks relax. We still have him as they haven't gotten rid of him yet. And maybe the idea of a turbocharged inline. Six sex isn't so bad after all because you know when it's all said and done we still have the six point four three ninety two and we still have the six point two supercharged. Tammy's so you know I don't think it's something to be too worried about. I think a new platform to play with would be a lot of fun especially when you start talking talking about boost. There's a reason why so. Many people are turbo charging and why they're utilizing superchargers to build power because they do
Fiat Chrysler finds new merger partner in Carlos Tavares
"French carmaker. PSA which owns Pirjo and Fiat Chrysler. Automobiles it's Italian American rival have agreed to pursue a merger that would create the world's fourth largest carmaker and reshape the ultimate of sector. I'm here with a motor industry correspondent Peter Campbell. And we're joined down the line by David Kayhan in Paris to discuss the merger. Hi Guys Peter Tell us first why these super super mergers have been considered at the moment. What's the rationale behind them earn? What's the most notable recent mergers in the sector so call makers of facing stresses from a lot of a different direction at the moment? They're facing falling sales in the facing the need to invest in some quite expensive new technologies electric cars. They need to sell to the C O talks across Europe and China as well as driverless vehicles and other such technologies that looking at now. What are these things cost money? And it makes very little sense for all of the world's carmakers call makers independently to spend the billions and billions that they need to develop this technology. It's much more sensible for them to tie up. A great proponent of this theory was Sergio Marconi the late former chief executive of fit cruiser who oversaw the merger between Fiat and Chrysler itself. WHO said the comic is need to tie up in order to avoid duplication teaching the list massive spending that they have to make? It's just too much cash. They need to splash right. So what are the relative strengths of the Fiat group. Compared to pressure so both companies are incredibly complementary geographically Peugeot exists almost entirely in Europe asam stuff outside Europe. But it's very very strong strong in Europe. Fat Chrysler despite being called fat is in fact predominantly in North America organization. Almost all of its profits. Come from selling pick-up trucks and very large. SUV's in the North North American region. It owns the ram heavy truck brand it ends jeep globally Lens Africa and Maserati and so for these companies they complement each other geographically and and what PSA has shown with its takeover of Opal which owns Fox hole in the last few years is that this is a company that can manage scale in European mass mass manufacturing so it already owns a number of volume brands in Europe. It audience Persian and sit. Trinidad's open phones Vauxhall. You would add to that fat if this merger went ahead head. And they've already showed that they can make these efficiencies of scale work within a single region within Europe which would be an advantage but PSA really although it's had an incredible Rana that's very profitable. Its growth is sort of come to an end really needs to try and push into North America which has plans to do unto its own steam and it really needs a serious premium. AM nameplate a merger with fair crews which is very strong in North America and has offer may a massive rati and jeep brings that I say so David John Elkin. WHO's the one of Italy's Agnelli families? The Italian billionaire behind axle which controls Fiat Chrysler and also the brains behind the proposed merger but his his attempt to do a similar deal with Renault early. This year failed at this plenty of examples of failure here. What happened there? Why did I go wrong? Defensive Him you ask really. FCA In parallel talks with Reynaud and Persia for quite a while but particularly since the start of the year. What people have told us that the whole time? They're in these as talks. They actually wanted runner. That was number one target. But I didn't know that so Iran may the news was given to the profoundly particular and generally that they were going to go over a nice over a good the only problem from. Sei's point of view. Is that across the table from the Reynolds argest shareholder was the French state. You might know that Renos found itself in a particular situation with its Japanese partner Nissan. And what the French state said was at Notre for the merger to go ahead. They wanted the explicit it consent agreement approval of Japan. They walked away. It was like ten days. The whole thing collapsed. It was a drama France. Tickets blamed by some sides if you took the French state on background they say maybe the deal wasn't as good for Renos. It could have been directing normal shareholder but either way John alcon sure. The French date didn't like what it was doing walked away dramatically and that leads us to PSA so would perjures Kosta virus preach batter partner. Do you think it depends. I mean I would cautiously say yes. Tavarez is a big personality big. Co elkhound is buying in is a guy who's not. It's going to take a backseat in any way he's going to be a CEO in charge driving strategy and Alcon will be classic chairman. You'd imagine it's kind of return to demark relationship. He had before maybe it was something. We didn't think he was totally on board. With an part of the reason he went Reynaud but where the project is definitely at nicer fit for FCA. Is that the French state is far less hands on this company. It has a shareholding but in Reynaud you could say that the French state is more like a family company shareholders. Huge emotional ties. It's the largest shareholder as well in Persia. It's a much more traditional shareholder it doesn't lockinge stakes. It's the joints are shareholder shareholder with both the Persian family and China's Dongfang. So you can see why it might be a better partner. Yes so notice. That are lex pages. Describe cried Mr Tavarez's quadri-lingual what kind of big personality is he. What kind of figure does he cut in the car? Industry globally so taveras is renowned and as one of the most capable executives across the automotive industry. If you look at his track record is performance. He came into Persia when they will almost bankrupt. He oversaw sore huge turnaround at the company then bought Opel. This was a company that General Motors couldn't make money out of twenty years. They turned that around in very short order and yet at the same time he doesn't have the gigantic room. Filling ego of some of the other executives in the auto industry would be more akin to traveling head of state when they it went overseas. Savar as who is a cost cutter to the core when he comes to the UK to visit the Vauxhall plant at Luton flies into Luton on EasyJet buys is is sandwiches in the corner shop before getting in a taxi to go over to the plant in his better than eight. Uneasy gentleman with US possibly explanation. But it's also true that he really has a way a of identifying with the ground level workforce as well as the executives and saying guys. You are the team here is up to you to deliver this turnaround plan has to go ahead. And he's been quite good actually particularly in the Opel turnaround of avoiding plant closures. No everybody thought when he bought Opel there we're going to have to shut factories and he said we're going to do this plan without shutting factories and they brought he managed that and what we expect from the FCA deal if it goes ahead. Is that going to make a commitment not to close any of either. I accompanies plants as a result of the turnaround as a result of trying to make savings here and so two Varas is seen. At least at the highest levels of most capable automative executives that gives at the moment and by some people is ranked the best glibly anywhere interesting David. How's he viewed inside of corporate France? If you like with a problem we have a terrorist journalist. This is not enough that stuff to say about him. It's genuine issue now. He's considered in France and piracy to be one of the best. I mean one of the reasons. The French government are supporting. This is because Tabarez is there. He's seen as being a safe pair of hands he sees having done a really great trainer ended Persia and he's seen as someone that they can trust in putting together this merger that's right but he has this cultural index territory. The allows him to associate with work in different countries so when he bought Opel everyone was naturally worried Opel. They were about to get fired but he walks into the headquarters Opel in Germany. All the stuff of April assembled there and his opening lines to the Marin German now he doesn't speak German but he'd learned some opening lines in German and was greeted with a big round of applause but also with the sense in the room that this was a guy who was on their side. It makes a big difference right okay. Personalities a site. Let's let's talk about some of the numbers here. What are the terms of the proposed? David I mean where would the merge creeped based for start. Well that's a very good question when that we don't really know the answer to yet. The idea is multiple As it stands but just very quickly so it's a fifty fifty all stock merger and there's going to be a special dividends and payouts. Either side equalized equalized values but analysts are suggesting that this looks like PSA buying FCA and part of the reason you can say that is the construction of the board Komo correct. He has eleven people five each plus Tavarez so the governance is tilted towards Paris. We will be watching to see where the operation headquarters is really eighty based where Tavarez sits even if I think Peter you might jump in here as well. FCA They're used to bring multiple countries in a way that maybe we'll create tensions. Well this brings us very nicely into the cultures of both companies to. FCA was a company that was borne out of this merger between Fiat and Chrysler and as such as a headquarters in London but but a major office insurance and a major office in Auburn Hills. Chrysler is based and whereas many car companies are deeply rooted in the national culture. These guys genuinely feel we'll multinational and they genuinely feel more global and they've actually culturally made a merger work which historically the consciousness quite difficult to do right. We saw DaimlerChrysler the fall apart we saw Ford Not Really Gel with any of the premium brands. It owned Volvo Janke Arrest Martin etc and at the same time you've got. PSA which also is culturally in quite an international fit because it has a British Brandon Vauxhall at has a German Brandon Opel and again it's made an automotive merger work in recent history and so one of the biggest barriers to auto mergers is cultural and it always is and it's the factions between different rival governments wanting a place at the table and to the fact that you've got to companies that are sort little mood globally cultural and have recently made big complex multi-country images work does bode quite well for these. Two companies being able to culturally fit together. which is a huge hurdle and obviously not a financial one but a key one that really needs to be overcome for any automotive motor to work now to think that assuming this goes through? Do you think there will be cost-cutting. This time we've spoken about how Mr Tavarez avoided this in the past but do we think an ax will fall this time around. They've talked about Oh savings of three point seven billion euros which they go to try and realize eighty percent of those within the first couple of years of the deal going through now. They haven't broken out exactly where that comes from. They've said it's not going to be plant closures if you look at. PSA during open takeover they managed to save a lot of money by shortening labor hours thousand doing various things around the way they utilize space in the factory floor but a big chunk of savings in a big rationale for the deal in the whole is as we said at the start to avoid duplicating investment it costs so it'll be avoid. Investment cost into electrification and avoided investment costs not just intellectuals -cation autonomy but also inter individual platforms so you built a car on. They'll merge those together they'll get huge potential savings and of purchasing components together all kinds of classic industrial merger synergies. I mean David. Is that message sticking in France. I don't think this merger would have been given the green light or been greeted with such political approval as it has been so far if it hadn't been for guarantees. He's about jobs and I think that's true in Italy as well. I don't think they're going to be closing plants. I just don't think it's politically tenable as Peter says for. They're going to be. Finding the savings is in our D adoption. Those kind of things. So if you're a betting man do you think the magic. We'll go ahead and if it is who then are the biggest rivals to the merged group. Rule the move music safaris overwhelmingly positive. The fact the French government seemed to be behaving better than they did last time older. That's not a terribly high bar bodes well for the whole thing going through now. What we're expecting expecting is it? Within the next sort of two three four weeks we'll get a memorandum of understanding between the two companies that will set out potentially more details about synergies potentially more details about management structure and various other things. Maybe even headquarters details then. Obviously the whole thing has to go to show. Does it both companies who have to approve them is quite difficult to to see them derailing that and then obviously it has to go through various other regulatory huddles. They also have to deal with antitrust issues so this will be the largest carmaker in Europe. It could be bigger than Volkswagen that market share in some countries such as constantly will be very high so they may have issues with that but no one seriously thinks that's going to derail l. the deal so assuming everything goes smoothly you could see it close within say nine months potentially two year. There's always a bit of leeway with these things either side and then obviously they will be the fourth largest in the world behind reminisce. And if you're treating those companies is one that's the whole other but also Volkswagen Toyota and on readiness and those three make ten million cars a year. These guys will make eight and a half million calls year that puts them slightly ahead of General Motors. You make about eight but they will be easily within the global top five for well. This is going to keep busy for the next year or so. Thanks Peter an thanks David thank you wolf listening.
"fca" Discussed on Daily Detroit
"We break down the proposed FCA PSA say merger deal a lawsuit involving a popular brewery has been settled out of court. A new hotel is coming downtown. Detroit we chat about the details. We now have on bike sharing expanding the suburbs and the Oakland County. Suburb of Ferndale has a mayoral contest. Coming up we talk a little bit about it. Let's get into it. So the big business auto news around town his been the specter of a tie up between Fiat Chrysler and PSA Peugeot spend. And what is going on. What are the outlines of the steel? The steel announced earlier. This week came together pretty quickly it. This would be a fifty fifty merger between Fiat Chrysler and PSA. Hey Group which is really these are both Essentially to consortium of automakers. I mean Fiat. Chrysler obviously is Fiat Chrysler but also jeep Ram Maserati brand of from Italy. PSA Group is similarly a group of of automakers that are mostly european-based. We're talking about Opel. CITRON Peugeot's most Well known probably Vauxhall Opel and Vauxhall or formerly They performed by GM. They got rid of them a couple years ago but the the merger here would make. PSA and Fiat Chrysler Fifty fifty partners It would turn them into the fourth largest automaker by sales you know this is is seen as sort of benefiting both companies you know when this news first came out. I gotTa admit I was kind of confused. Because wasn't there recently. Like some sort of you've tie up. That was supposed to happen with another European company. I think it's Renault. Yeah right Fiat Chrysler was in merger talks They made a big announcement that they were going to merge with Renaud. WHO's currently you know? Part of auto alliance with Nissan and Mitsubishi long running a couple decades long and that was one of the things I think that confuse people. That deal ended up Kinda crumbling because Largely because the French government owns part of Renault. Which is another interesting point here because the French government has an ownership chip steak a minority ownership stake in Peugeot? So it's not really clear how they're going to get over that that's one of the kind of risks moving forward so how does the deal like this benefit. FCA AND PSA. I mean I I know on a surface level that the two companies work in different geographies right exactly so so none of PSA. His car's right now are sold in the United States They they've all had histories of being sold here in the US market but it's been decades Since that was the case so so PSA strong in in Europe Where they make a lot of kind of small city cars and smaller? Suv's where Fiat Chrysler really has. Its strength and it's it's you know home base for the Chrysler side anyway. Here in North America Fiat. Chrysler has the jeep brand which is arguably the strongest automotive brand widely seen that way nowadays as well as Ram which is huge growing brand for pickup truck fans. So you know this will give each company strengths strengths in markets where. They're not strong right now. It'll add to global scale so I talked with Michelle Krebs who is executive analyst at Auto Trader Dot Com about steal a while ago and she was saying that neither of these companies are particularly strong in electric vehicles or autonomous self. Driving cars which is one of the big reasons that Fiat Chrysler has been pushing for years now going back to win? Sergio Marconi became. CEO When Chrysler was souped up out of bankruptcy by Fiat and Chrysler is no stranger to mergers or merger. Talk you think about what happened with dime lower back in the day though. so-called merger of equals right. Going all the way back to when I think it was in the seventies Seventies if not mistaken when Chrysler acquired American Motors Right which is essentially where they picked up the jeep brand from so yeah Fiat. Chrysler has long been kind of accompany that is defined by mergers and becoming parts of others which brings up part of the risk. Here I mean the life under diner would never really worked for Chrysler. There was never a very good fit of the cultures and the and the organizations. You know the kind of corporate functions and everything so it's an open question about how they're gonNA fit together but they're looking thing again for both geographic and financial scale out of the steel. You know like shoring up each other's weaknesses for Fiat Chrysler in Europe for PSA here in North America but you know and what crime as Krebs pointed out. Neither company is particularly strong in developing electric vehicles or autonomous vehicles. They're also very weak in China. which even though they're we're starting to have their own economic problems remains the world's largest automotive market and it's one that you you've gotta be strong if you're GONNA be globally competitive it strikes me that and more mergers and deals like this could be ahead because if we think about like even the feedback with what we heard with General Motors and things like that is that there needs to be a lot of resources to be ready for this new connected infrastructure and connected vehicles and I know a lot of our listeners are kind of be wilder because they're not used to seeing anything anything but you know? They noticed tassels on the road but beyond that electrification in autonomous seems like way far down the line but to these companies. They're spending spending spending money now to make these things happen right. I mean Fiat. Chrysler has a little bit of a toehold in an autonomous vehicles. They're working with WAYMO which is the Google or Alphabet alphabet subsidiary of for self driving cars which is using Chrysler. PACIFICA minivan outfitted with their self driving software. So they've at least got that going for them but neither company any. I'm not I'm not super aware of PSA but Fiat Chrysler doesn't have a lot going on in the electrification sort of business. You Know I. I'm not even really aware of any. He plans for like a fully electric vehicle by them yet. It could be there. Could be something but it's not. It's not anything that's exists or as soon to come out one of the other things that Krebs. CBS said that I thought was interesting. Is that both companies are going to have too much capacity. manufacturing capacity in Europe. That's long been the case. But she said it's really tough to close factories there because in contrast to the United States where states you know states always want to keep their automotive factories running and everything's part of their global economy over there it's countries so you get into kind Nationalism and because every country wants a car factory as part of their industrial base right But she said that's going to be an issue that they're going to have to do but you know this thing is really in the early goings. there's a lot to shake out and see how things develop Fiat Chrysler CEO Mike Manley. Who will transition into an unnamed senior senior executive role when this deal consummates assuming it does emailed employees earlier this week according to the free press and he told them he plans to hold a global town hall meeting where where he's going to discuss the state of the company you know talk about the merger and his expectations for the remainder of this year? So that should be happening soon. All right well I gotta ask you. What do you you think this deal? I mean I think it makes sense. It seems like it's inevitable like I said you know Fiat. Chrysler has been trying for a long time to find an automotive partner. I mean People will probably remember a a few years ago when Sergio Marchi Oni proposed a merger with GM. I think a lot of people in this town sort of collectively gasped there breath you know like to think about about that and I'm not sure that that ever really made good sense. Jim was never remotely interested in it but they've been trying to find a partner for a long time. I mean Sergio. Mark Yoni was a champion of of beating this drum that the auto industry needed to consolidate to get stronger because margins are just so narrow in automotive world which one last point that I'll bring up The day after the deal was announced Fiat. Chrysler came out with their quarterly earnings. They posted higher than expected earnings on a record margins they were actually able to get Just over ten percent in their margins for the quarter which is pretty remarkable for the industry in update to a story we've been following on the podcast grand rapids based founders has settled a racial discrimination suit. Out of court was former employees. Tracy Evans in the suit Evans. Who is Black said the company tolerated a-rated quote a racist internal corporate culture unquote? The reaction to the suit has garnered national headlines in a statement the company said through through recent discussions with Tracy. We listened engaged in self discovery and reach common ground to make amends. The settlement amount was not disclosed and the case has has been dismissed. Ground broke Friday on a new hotel at the former. W W J studios building in downtown Detroit. The hotel Cambria. Yeah we'll have some nods to its history saved including the lobby the old studio in ww Jason Edge and there will be new design accents. That will remind you of its historic past past. There are two main sections project at six hundred West. Lafayette the hotel will be built module early and will be new construction. The office meeting rooms and retail will be in the old building Royal Oak based Detroit Taco and the Detroit kids city franchise are planned retail tenants. The project will cost about fifty fifty million bucks at his plan to be open by the end of next year. There's a proposed deal between the united auto workers and Ford averting a strike according to CNBC ABC workers would get a nine thousand dollar signing bonus and similar raises as General Motors. In the three to four percent range. There would be one plant closure but no layoffs playoffs the Romeo engine plant employs about six hundred hourly Workers Making V. Eight engines and parts for other engines employees. There would be offered jobs at a transmission plant plant a few miles away or they could take a bio package. The engine work will be shifted to other plants multiple outlets say that there will be about six billion dollars in new investments vestments from Ford and the contract union leadership for Ford workers will decide on the deal today and then it'll be sent to the fifty five thousand or so workers for a vote which will take about a week take from engine powered Pedal Power Mogo. The region's nonprofit bike. Sharing Service announced details this week about their expansion into the suburbs suburbs Here's some top line FO- before we get talking about it. MOGO is going to add thirty one new stations and one hundred and forty bikes to central northwest Detroit as well as the suburbs suburbs of Ferndale Royal Oak Park Berkeley and Huntington Woods. That's going to nearly double mogos. Current system size does all going to happen next year in twenty twenty. We'll have a map up on the website but I mean I formerly lived in this in that service area. I'm closer to the downtown service area span. This is right in the middle of what you're doing. I know that a lot of our teams teams up in this Mogo service area. What are some of your initial thoughts looking at this and seeing bike share actually spread doesn't feel I didn't it? Wasn't it supposed to happen a little bit sooner. Yes it was supposed to launch this fall supposed to lunch right around now. I think they had some. You know kind of difficulties with some of the federal grants just some normal bureaucracy. Type Issues So now it's going to be next spring when it launches in these five suburbs and in northwestern we're talking about that we're basically talking about the avenue fashion livernois avenue down into Sticks mile kind of veering off into toward Mary Grove. College where they're starting to kind of focus. Yes business development efforts on there and stuff. Yeah they'll be a station outside of Ud mercy to. I'm looking at the map and I mean it. It looks good looks interesting. They you know as they did with the when they unveiled in Detroit a few years ago they solicited public feedback for where people thought stations should go. So it's interesting. You know my neck of the woods eight Mile Woodward heard We're actually surprisingly to me. a little bit bear in there. There's no stations within half a mile or so I say that especially because it's a major crossroads. Obviously but there's also the you know the the whole Meyer anchored shopping mall over. There Kinda surprised that they didn't try to get a station over there. But you'd also pointed out that Riding a bike through there is no picnic because it's it's Kinda harrowing across Woodward at Eight Mile through just because of all the traffic and all the ways lots. It's a traffic in that parking lot there. It's a huge parking lot. People driving all over the place. I mean. Yeah you're right. It's not a fun place to bike so I did notice that there wasn't anything over there on the east side of Woodward by eight eight mile either that it re- really this seems to be centered. A little bit up delivered corridor and more towards nine mile. Yeah and kind of you know clustering around downtown Ferndale. Obviously downtown Roy pretty well represented it goes up into downtown Berkeley. And then you know scattered locations around Ozark I you know I think it looks good. It's going to be really interesting. I think one of the things they've said is that you know they're keeping the option of moving some of these stations around after they kinda see user data and what's working and what's not so don't be surprised to see some locations may be moved to more high visibility spots but I think this is a great thing. It'll be great. I think for people I mean. I'm all in favor of encouraging people to To get out and and use pedal power and and leave the car at home once in a while. It's going to be interesting to see that too in places like Oak Park which is finishing up with their bike lanes all of their walkability improvements. They're making the stuff that Eric Toungate..
"fca" Discussed on Daily Detroit
"Now have on bike sharing expanding the suburbs and the Oakland County suburb of Ferndale factor of a tie up between Fiat Chrysler and PSA or Peugeot spend hey group which is really these are both essentially to consortium of me a group of of automakers that are mostly european-based we're talking about but the the merger here would make PSA and Fiat Chrysler Fifty fifty partners had admit I was kind of confused because wasn't there recently like some sort of Renaud who's currently you know part of auto alliance with Nissan and owns part of Renault which is another interesting point here because the French government has an ownership this benefit FCA and PSA. I mean I I know on a surface level being sold here in the US market but it's been decades since that was the case so you know home base for the Chrysler side anyway here in North America Fiat and for pickup truck fans so you know this will give each company strengths astill awhile ago and she was saying that neither of these companies are particularly strong me became CEO when Chrysler was souped up out of bankruptcy by Fiat and Chrysler is Seventies if not mistaken when Chrysler acquired American Motors Right which the risk here I mean the life under diamond never really worked for Chrysler there was never a very good thing again for both geographic and financial scale out of the steel you know like shoring helping electric vehicles or autonomous vehicles they're also very weak in China which even though they're Komo more mergers and deals like this could be ahead because if we think about like even active vehicles and I know a lot of our listeners are kind of be wilder because they're not used to seeing anything spending money now to make these things happen right I mean Fiat Chrysler. has a little outfitted with their self driving software so they've at least got that going for them but neither company he plans for like a fully electric vehicle by them yet it could be there could be something but it's not it's not anything fracturing capacity in Europe that's long been the case but she said it's really tough to close factories there Nationalism and because every country wants a car factory as part of their industrial base right Theon Chrysler. CEO Mike Manley who will transition into an unnamed senior where he's going to discuss the state of the company you know talk about the merger and his expectations for the trying for a long time to find an automotive partner I mean people will probably remember a about that and I'm not sure that that ever really made good sense Jim was never remotely interested in they're just so narrow in automotive world which one last point that I'll bring up get Just over ten percent in their margins for the quarter which is pretty remarkable for the industry former employees Tracy Evans in the suit Evans who is Black said the company tolerated through recent discussions with Tracy we listened engaged in self discovery and reach L. at the former WWE J. Studios building in downtown Detroit the Hotel Cambria past there are two main sections of this project at six hundred West Lafayette Detroit Kids City Franchise are planned retail tenants the project will cost about fifty ABC workers would get a nine thousand dollar signing bonus and similar raises as general engines and parts for other engines employees there would be offered jobs at a transmission plant vestments from Ford and the Contract Union Leadership for Ford Workers will decide on the deal today geons nonprofit bike sharing service announce details this week about their expansion into the suburbs suburbs of Ferndale Royal Oak Park Berkeley and Huntington Woods. That's going to hi I'm closer to the downtown service area span this is right in the middle of what you're doing I know that a lot of our teams yes it was supposed to launch this fall supposed to lunch right around now I think they.
Peugeot board gives a green light to FCA talks
"Italian American carmaker fiat Chrysler says it's in talks with French rival Peugeot for a merger it's fiat Chrysler seconded this year to form a group that would reshape the global auto industry the move aims to gain ground in the difficult race towards electric and self driving cars for fiat Chrysler is lagging behind
Scandal-hit UAW agrees to contract extensions with Ford, FCA
"The United auto workers union contract with General Motors is set to expire tonight it could result in a strike as the UAW and GM are at odds over wages plant closures and other issues a corruption scandal involving union leader Vance Pearson is also affecting negotiations you a W. extended its national contracts with Ford and fiat
"fca" Discussed on WBZ NewsRadio 1030
"Of FCA US LLC your ride in a moment sponsored by Yankee custom truck truck van or SUV visit Yankee custom truck to offer to protect your vehicle with weathertech floor liners access tonneau cover and more plus expert on site installation into very Saugus Brockton national in south Portland see our huge inventory again because the drug dot com right now six twenty three Friday not back to the rosary every ten minutes with Mike and the server retailers of New England all wheel drive traffic on the three still bad yeah it is on the mass turnpike Laurie westbound backed up shortly after room one twenty two at Middlebury I'll pass to ninety in Auburn that's over six miles east bounce tied up through west Newton we see that typically for ninety five south all break like through one seventeen down to two ninety in Marlboro that's five miles there the expressway south much better coming out of the city or on the brakes from furnace brook parkway down of the split now the northbound jammed Braintree up past furnace brook park we parkway we may have something new there and it is still coming up towards the tunnel to delays on route three south exit seven down past exit six in Plymouth over a mile at the Sagamore bridge under a mile at the Bourne bridge for ninety five south is backed up a few miles to Franklin is a new crash by king street downtown the lower decks okay but the lever connectors flow both ways straw drives back to be either way exiting off to Kenmore square the Ted Williams tunnel westbound backed up so is the eastbound connector tunnel to my king WBZ's traffic on the three of the four day WBZ accu weather forecast for the weekend partly to mostly cloudy for tonight the low sixty five then clouds and some sunshine for tomorrow humid shower.
"fca" Discussed on MYfm 104.3
"Trademark of FCA US LLC more music more variety Mario Lopez one oh four three my FM his daughter in the to go back in but I don't cause my heart in does it can even go on the can you name this is we and more music more variety before no one's there the last name by days so your words could see further then and I now one need someone three there are a lot.
"fca" Discussed on 1075 KZL
"FCA US LLC love you really need it it's time to reclaim restore and revive your most personal area with feminine rejuvenation from Cali cosmetic ask about thirty bomb a non surgical treatment that rejuvenates collagen to safely reverse the effects of aging childbirth you'll experience last Friday reducing cotton and improved arousal is renewed appearance and elasticity take back control of your body with only cosmetic in Greensboro because medic dot com why call Sylvester and Cochran when the AC one out they were there in no time it's one less thing to worry about just one call covers our HVAC plumbing and electrical Sylvester and Cochran does quality work and they hold my business save money with the commercial maintenance plan from Sylvester and Cochran one low price gets you filter changes detailed system inspection and cleaning and to our emergency service don't wait until something breaks also Bester Cochran to start saving money time and energy today F. Y. L. C. S. C. dot com hi you got to move fast like a dog chasing a frisbee just as fast to the Ford hurry up and save sales event for the first time ever you can get twenty percent estimated savings on select Ford vehicles plus or complementary maintenance through for past rewards don't let this hot deal on America's best selling brand pass you by get into the fort hurry up and say sales events based on twenty ten to twenty eighteen calendar year sales motor must be activated within sixty days of purchase to the four pass up on a smartphone and remain active for at least six months after activation eligible on select twenty ninety model year vehicles vehicle must arrive to deliver the sixty one days prior to the sale date estimated savings include an average discounts based on a sale surveyed average discounts offered by forty was nationally discount me very few Germans price for all offers take new retail delivery from an authorized for dealer stock by nine three nineteen see participating dealer for complete details I.
"fca" Discussed on 103.5 KISS FM
"Trademark of FCA US LLC is I libration is our dating experiments waiting by the phone why no second date that is Kabul it's brand new after seven all case he is in the he is soon he was it is nice thanks just thank is as just three five gets FM Chicago's number one hit music station friend Nancy are on all right guys.
"fca" Discussed on KIIS 102.7
"Bits a sport utility vehicle segment Dodge is a registered trademark of FCA US LLC I cast your weekend Saturday night party on a few points seven happy that you are well from the drive you is in the old know your Saturday night party with DJ drew we have we and then the other one to be in another one of the lessons I am wondering if I could stick at the back nobody's even looking me in my take my hand finish matching say shall we dance.
"fca" Discussed on WFAN Sports Radio_FM
"FCA US LLC attention the Virginia citizens defense league is selling the alarm America's freedoms are under attack from the domestic enemies of the constitution through deception anti rice adversaries are trying to disarm Americans while shredding constitutional protection still be full by red flag laws that are promoted as gun violence restraining orders for extreme protection order red flag laws are for gun confiscation not projection take a stand go to the CDL dot org slash red flag be CDL dot org slash red flag the CDL defending your right to defend yourself and they're all jumping elite it's having heard all of our followed closely by I don't eat breakfast here comes sausage McMuffin with egg overtaking gas station mystery meal running out of steam grab me a little keep your morning moving right now the sausage McMuffin with egg is just two for four dollars McDonald's breakfast it's the most important meal on the way the price can be combined with any other offer compliment outdoor barbecue simple parties means this summer has begun at aviator sports events center with thirty thousand square feet of backyard space how full barbecue menu and two huge above ground pools make Peter sports your summer destination sports dot com Tony back tears summer sales event going on now are you today to get great deals it's summer time to get out enjoy a road trip in this league optima the beach in the tech savvy for today heading the mounds in the capable Sorrento or get away weekend in the versatile Sportage all backed by a ten year one hundred thousand mile limited powertrain warranty for offer details is a kia dealers dot com or call eight hundred three three three four PM and when you stop by your local New Jersey New York Connecticut kia dealer tell them and then set you now for a limited time when you switch to sprint will cover your switching.
"fca" Discussed on WFAN Sports Radio_FM
"Trademark of FCA US LLC the morning show though that'll do it for us Joan and in the coming up next enjoy the rest of your day as we get closer to the fourth of July the canticle of the year at least for me it's the greatest holiday it is the absolute best we'll be back here tomorrow five forty with a warm up show and then at the six o'clock for talks on the subway series and maybe some Kawhi Leonard they will get some news on him so it's right in the U. S. yeah Joan of residents more he is in the yes most guys are yes I think you called in from the maternity ward yeah good luck to Maggie hopefully everything over there and then of wars and J. J. J. J. J. R. at the dog is actually let him out during the day they're gonna be working together yes I will be very cool that's right have a great day everybody see tomorrow morning as always we are box office Blix listen they sell more in every hour until six PM today for your chance to win tickets to see the subway series for the games this week at Citi field make sure you catch all the action which John sterling and Susan Waldman tonight and tomorrow night at seven ten with our extended coverage from Citi field on the way it with Kim Jones and John Jastremski exclusively all your flagship station forcibly series talk tickets and every game bill fan sports radio one one nine FM a sports radio sixty six WFAN WFAN FM New York all radio dot com sports stations the morning journal one in Jerry Recco this poor brought to my head to water heat is pure Stiller sparkling water infused with a variety of for essences including watermelon blackberry in cherry no sugar no sweet there's no calories available in your local grocery store or at drink into dot com into mouth watering water by.
"fca" Discussed on WFAN Sports Radio_FM
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Fiat Chrysler Withdraws From Renault Deal
"Fiat Chrysler has decided to withdraw its offer to merge with the French carmaker Renou, according to people familiar with the matter. The company decided to pull out after the French government resisted, the deal due to a lack of support from Nissan. Nissan is in an alliance with Renault to find out more. I rang up Nick cost of in Paris, who's been closely following the deal. So Nick, what happened what happened? Good question suit, essentially, what we have is deal between we have FCA proposing to merge with Reynaud. However, Renner has been in tonight's with Nissan for twenty years, and therefore shares of many parts platforms is fairly integrated with Nissan, now, the French states decided that it would not back this deal without the explicit approval and without the explicit support of Nissan and Nissan. Has not really been involved in negotiations. Nissan, essentially abstained on the votes and said, we need more time to study how this would affect business and for the French state that wasn't good enough. They wanted me Santa vote. Yes. And so, different states, proposed delay said let's try and work with Nissan to try and get them on board and will reconvene in five days and at this point, John Alcon, who's the controlling shareholder if he at Chrysler decided to pull the deal of pool his proposal, and so the deal Fennell has fallen apart. What has the Chrysler said, well fee Chrysler fuse, and the deal is, is not possible with the with the French state at the moment, because they've been in negotiations with the French state for the past week, different state has been asking for a number of concessions, for example, once a board seat on the new entity. It wanted a four year term for the news CEO of the. Company, and he wanted that to be Reynaud chairman. There was a number of other things. And so see at Christ is essentially saying, we've had enough of the French states demands, this has become untenable, and we can't do a deal when east conditions, and what does the failure of this deal mean for the car industry in Europe? And in the US, does it help rivals, like maybe Volkswagen, perhaps, I mean, it's very difficult to tell at this stage in the US, this would have meant said Nissan, getting together with Chrysler in a way, which which would obviously bought brands like ramen Jeep closer closer with the Nissan's. So that doesn't seem like it's going to happen now. I mean what it means I guess, for the car industry is, if you speak to end this most of them think that Fiat Chrysler needs a deal right now and because then they haven't invested enough in future technologies, I'm so we'll see who they end up with whether it's another French call maker of maybe Paju, or whether
Nissan CEO sees no big downside to FCA-Renault merger
"Renewed. One of the big corporate stories, Nissan CEO says he's interested. To learn more about the proposed merger between new and fit cries that when the French automaker briefs it's Japanese partners today chief Asia correspondent Stephen Engle joins us from Tokyo. Steve, good to see. So the Nissim says that could be -tunities but it's this is just another headache for the company, which is roiling from from the gome saga. Yeah. There's a number of ways you can look at it. First of all, I might just say the alliance has put out a statement. That's of course, I'm talking about the Renault Nissan Mitsubishi alliance. We had open and transparent discussions on this proposal. Keep in mind, of course, this proposed merger is a separate entity from the current alliance be Renault and Fiat Chrysler merging. And for he wrote the psychology the CEO of Nissan. Yeah, it's another headache. But it could be a good opportunity for him. And if he plays his cards, well, he could come out with what he wants keep in mind. He is rebuffed the overtures of Renault to merge. He wants a more equitable partnership within the alliance and a merger doesn't accomplish that four Nissan. That's what we're hearing. Now this new challenge comes at a time, of course when there's a great disruption. Because of electric occasion and automobile sales are declining around the world. So psychologists on as you see, here, he has lots and lots of decisions to make. The one good thing could be though this new merger could give very needed distraction, and that could buy psycho Assan some time to get his ship. In order get those sales turned around there and get a new plan in place in the post gone era. Stocks are down. What about thirteen percent so far, this year, you look at the options that the Nissen boss has besides being given a lot more pressure. What else does he really have to play with? Yeah. I mean again it's, it's, it's you can look at both sides of this. I mean he's been seeking a more equitable partnership keep in mind Nissan owns what fifteen percent of Renault, but no voting rights and Renault owns forty three percent of Nissan with voting rights. The French government owns fifteen percent of Renault with double voting rights. Now this new entity would give Nissan in that entity. More of a say seven and a half percent stake with one board seat and voting rights. However, you flip that around and look at what the new entities car sales would be they would be what eight and a half plus million vehicles, a year that would dwarf Nissan on its own five million five point six million in two thousand eighteen and declining and profitability, declining one great strength of Nissan and the current alliance is that they had the key markets of the US and China, they had better profit. They had better sales. Now, this new entity comes in all of a sudden Renault do they have the upper hand it's a question to be asked. Steven great catching up. Thank you very much for those insights, Stephen Engle alive out of
Renault FCA merger set to reshape global car industry
"Fair Chrysler, automobiles, has unveiled a proposed thirty point six billion euro, al-sham measure with Renault that would we shape, the global automative industry, David Atlee discusses, how the jail came about and how it will affect Renos prepares tired with Nissan with Irish masugi and Peter Campbell. Rush tennis about the two men who engineered the deal when did the talk start. And how did the deal come together? Okay. If tickets step back and just imagine that in the last three or four years in the car industry, all the major players were talking to each other. Part of this thesis, was driven by the former CEO, the late CEO of Fiat Chrysler automobiles Sergio Marconi passed away last July, but had written this manifesto called confessions of capital junkie, where he called for consolidation for a number of reasons in the car industry, and he was, in many ways, the chief, confidant of John Elkin who runs the nearly family empire through an investment vehicle called Exor, which is the dominant shareholder and Fiat Chrysler. And so with Mark Janas death Elkin really steps into this role that normally would have been played by any number of special executives brought in by the family over the years to help exercise their interests. But Elkin really stepped into this role and then began taking charge and making a series of moves one. Those moves was to begin conversations with Renault about various things those conversations really took off, when John Dominic scenarist was brought in January to become the Renault chairman, and stabilize the company, which had been going through tumultuous period after the arrest of Carlos gone in Tokyo in November, the meetings between scenario and Alcon took place throughout the spring in Paris, and Turin at their various homes, and then in the last few weeks, what began as talks about cooperation in a broader partnership really shifted into something else, which was a full merger did call us gone have any role in trying to put together such a merger when he was headed. It's run into San Peter and the rest of the team who's been covering the gun fall out reported in March that Nissan had looked at FCA in the past three years in something that was pushed by Goan. It's not clear to what extent he actually wanted to do that. But at the time he was very much more focused on. Combining rhino with Nissan when it became clear that, that deal was not possible to scenario who had replaced gun, the conversations with Elkin really took off, and in centered Elkin found someone who is more mild mannered, who's more classically European traditional very smooth and diplomatic not an ego maniac, not a big character. Which is typically, what defines many of the big auto chief executives Goan would certainly be seen someone who was imperious character. And so in Senator, there was someone who is much easier to deal with. And I think that probably played a major role because Elkins manners is very sort of genteel in European if you want a risk Socratic, and so that dynamic probably helped make this happen. So you could actually save the absence of gone to some extent, maybe even absent Marconi made this deal easier to engineer. So where does that lead us what are the terms on? What will be the balance of power between each side, so it's a fifty fifty stock deal. So the shareholders in Chrysler wife. Fifty percent stake in a new company, which will be a Dutch registered company and Reynaud shareholders will have fifty percent that essentially means that everyone's shareholdings in the two existing companies will be cut in half. So extra will become the most dominant shareholder with about a fifteen percent stake, the French state, and Japan's Nissan which have fifteen percent of Renault. They will have seven and a half percent in the new company and there will be others who have smaller state, but that's largely the three dominant shareholders. That's why John Elkin will become the non executive chairman of the company and at least for the time being is believed that scenario will become the chief executive. But we'll see how that shakes out of the coming years theme what will is still mean for the industry, and can we expect further consolidation. Yeah. I think the message is yes, but the trick is, it's very hard. The industry is beset with big egos with national pride with unions with manufacturing jobs and the core. Thesis behind this is shutting down factories and firing people. So that is a really hard thing to. Swallow layer that in with the fact that you getting some kind of scale through consolidation layer that in with governments that will want to say to try to protect their jobs. And so you have a very difficult dynamic now concurrently to these talks with Reynaud Fiat was talking to pizzo of France. And obviously those talks have fallen apart hoettges looking stilted at the altar a bit. So the question is, what do they do next and Nissan, which at the moment, just looks like a basket case is also left with some questions to ponder upon for the future. But all the major car companies are watching this with great interest at the moment, so he can we then tune to what do we think. With the cost savings, be and will this mean job losses, the Irish alluded to? So the terms set out yesterday were quite clear in the deal. They envisage being able to do this merger without any plump closures now that may sound ambitious, but remember a few years ago, PSA, Persia took over opo and said they would have a turnaround program and integration program, evolve, no plunk closures and brutally. They haven't closed any plants, so. Oh, it's certainly possible to do that. FCA talked about possible cost savings of around five billion euros from combining various things such as purchasing an RND with Renna. But what they're most likely it's do is to avoid additional cost. One of the reasons comic is trying to tie up is because so many of them have such massive investment costs in future technology, think about something like electric vehicles, something like driverless, technology, and Sergia, Makia, knees, onset to or this was, it's much better for comic is to pool resources and spend this money together, rather than old, Joop locating their investment. And so what this does mean is that FCA and Reynaud, if they come together, we'll only have to spend one load of money on developing electric vehicles, rather than say, two now Renos already the European leader in electric vehicles as the biggest selling electric model in Europe and fit Kryza is generally regarded as a lag Auden electric technology and say, we'll hopefully be able to take in some of Renos electric technology. So they'll be looking for cost savings in various areas such as that. And how much will this merger weaken Nissen's bizarre? Mission within the alliance with Renault currently the way that the alliance is set up is that Reynaud Misawa each have equal representation on the alliance operating board says two seats for Japan. That's Nissim officially in two seats for froms. That's the Reynaud CEO and the Reynaud champion his John, Giannis Sonat, and what this will undoubtedly mean. We don't know what this will mean for the aligns board but is almost certainly going to mean that FCA has a seat at that table. It means that Nissan's influence in overall terms will decrease across the alliance, but actually, the view is that Nissan may perceive parts of this deal is incredibly positive for them, one of the conditions the FCC set during these talks with Renna was the any plans to merge renaissance should be shelved for the time being in order to let Nissen and to some extent, Renos wealth focus on they call business because Nissan's core businesses. Not in great shape seeing a huge slide in it sales in the US as saying fools in China. It's really struggling in some of its logo operations and a lot. Of the phone out of the Costco, no arrest and the questions over the future of the alliance and all the shenanigans about would they merge? Would they not merge has been distracting missiles, management, and frankly, Renos management, as well from the day-to-day operations of the business? So the hope is that by putting that issue to bed for the time being it will allow listen to focus on that day today or perations and not sexy is one thing that's been put in that to try and win over Nishantha supporting this deal in short, then that could be benefits finish San in this new alliance with key be so the long term, what if CA is open to doing is having a full on merger with miss sandwich would create by a very long way the world's largest car company with around fifteen million sales, and that would give them huge scale and therefore numerous potential to invest in a lot of the new future technology a much greater resilience in a very cyclical bumpy industry to be able to weather the storms now. That's more long term in the short term suddenly what Nissim would hope is that it just takes the potential of emerge Reynaud off the table. It lets them focus on the business. Which is something they need to do in order to be able to remain competitive in the future turning to another very important stakeholder in this how have investors responded? What has their view been safe, all say, if you look at the Shatt prices the shaft prices of FCA anniversary both rose incredibly strongly yesterday on Monday when the deal was announced, both rose more than ten percent, investors. See this broadly as positive, but there are lots of questions over the Deel. There were lots of questions over whether call makers need to have global scale, which this will give the companies or whether it's better to focus on getting scale instead of half an individual regions like someone like Persia has done with the OPEL deal because what this won't give Reynaud or FCA is much greater scale in any given regions. They have a bit of overlap in Europe, the market, share, at the end of this deal will be about sixteen percent in Europe. So it increases this state bat. But in terms of that Sharon other markets, there wasn't a great deal of overlap, so they won't be the biggest player in major global markets. They operate in. And so there's a. Question about whether they really need regional scale, or whether they need global scale, lots of other questions around merges, and particularly auto mergers that cross borders in general around company, coaches, we've seen a lot of mergers, in the past the famous one is diamond Chrysler go on for a few years, and then just collapsed because they don't work. That's almost never because of industrial issues political issues. It's almost always because of deeply ingrained, cultural issues, car companies are very cultural animals often rooted in the country, that, that headquartered in and say trying to put together a company that has not just a talion in US culture from fat Chrysler, but French culture from rhino, and ultimately, possibly Japanese culture from Nissen as quite a melting pot. If you're trying to put it all together, so there are two questions over this deal. You've mentioned some, but do you see any particular hurdles, is it the cultural is it the regulation is the politics that could prevent this top, the biggest one of the moment is whether Reynaud agrees to it. So while Reynolds, Chavan, John Donnie Senate has. Been in talks with Alcon for a long time over this and in recent weeks about the merger and FCA has put this proposal to Reynaud Renos still has to agree to it. The French state her fifteen percent of Reynaud behalf double voting rights. Still have to agree to it. Nissan, even though they don't have a blocking vote on this still need to agree. You have the Italian government saying that it wants to protect talion jobs. The French government won't to protect French jobs is going to be very political. We still don't know what the locations of this deal are for the specifics of Renos relationship with Nissen, particularly if it'll affect some of their past contracts together. And so there are a lot of things that could potentially derailed the deal. So it's not a slam dunk by any measure, but the language of FCA and the fact that they're leaders of work closely with Renos leaders over the last few weeks to nail this down. Does at least suggest that there is goodwill on both sides, and both of them it is in their interest to do this deal to make it work.
Renault, Fiat Chrysler And Nissan discussed on Brian Kilmeade
"And talk of creating a new and bigger car company. Fiat Chrysler automobiles wants to merge with French rival Renault to gain ground in the race to electric and self driving cars Fiat Chrysler says the deal would not result in any plant closing an F, C, A, Renault merger would create the third largest car group in the world, when you include Renault's alliance with Japanese carmakers Nissan, and meet soobee. She the four companies would be the largest carmaker in the world by far. Far observers say such a huge corporation would be difficult to run. But Renault Nissan lead electric cars, where FCA
Renault, Fiat Chrysler And Chrysler discussed on Rich Stevens
"There may be a big deal in the works in the auto industry Chrysler automobiles wants to merge with French rival Renault to gain ground in the race to electric and self driving cars Fiat Chrysler says the deal would not result in any plant closing and FCA Renault merger would create the third largest car group in
"fca" Discussed on Heartland Newsfeed Radio Network
"I'll the Julia does. Well that cell. Vio is really kicking it out of the park for FCA? So let me say you mentioned FCA and with dodge, there's kind of like a little saying with the demon in the hell cat, if you know, you know you know what I'm saying because you look at the challenger, you know, it's all part of the FCA family. And if you know, you know, and it's the same way with this Quadra folio thing, if you know, you know, it's amazing machine what was the price range on this thing. I can't remember. About seventy five and then you can really put some, you know, there's a ceramic rake auction. That is pretty pricey. I did that by viper. It was twelve thousand bucks for the carbon ceramic brakes. Sue. Yeah, I think it's nine Nobel and had them. We tested them. You know, the regular car has got the, you know, the non quarter folio really has some amazing released deals on it. And, and people are leasing it in the same Stelvio, who he's high-performance version. You know, they are what they are they, yes. You're gonna pay you're gonna pay up or but you're going to get something that give back. Well Want to something? something that not everybody on the block is going to have, you know, alpha he's out there. I'm curious to see what they're gonna do for the New York auto show, if anything they make some fantastic machines and I can't wait to get behind the wheel of mine next test of an alpha Josh hang tight pursued been up to take a little break. Your. I have to mute him by the way, our show, brought to you in part by brim.
"fca" Discussed on WFAN Sports Radio_FM
"Of FCA US LLC, Mike. Hey, Mike, go giants draft. People don't like this. Daniel Jones guide. What's up Kyle? Hey, mike. How are you? I I I wanted to talk about the giants draft tomorrow. I tend to agree with you. I don't understand the high on the quarterback this year. Daniel Jones, I get that. There's a giant manning connection there. But. Go the coach for the do coach. Right, right. I understand that. But I I don't know. I I I'm not a fan of his I'm not really a fan of any other quarterback. But people he has gotten a lot of attention all of a sudden with some teams have been some teams have other teams trading into the top five forum. So. I don't know if that's accurate or not there's been rumors about that. But yeah, that's what happens today before the draft. Doesn't mean. It's accurate. I didn't see him going that high. Now, again, I didn't know that. See I don't think the giants. The man in connection. I don't think is going to take hold here. I think the giants will wait the draft the quarterback d the second round or maybe go get Rosen. I could see them doing that. We'll have to wait and see. I like I like to take that kid. Josh L E Kentucky if he's there. I think they should go. Yeah. I mean, I think it's a long shot. He's on the board at six. But if he is, you know, that makes sense. I agree. I agree with you. If he's if he's there at six, I do agree with you on that. Now, whether he's there there again, tell you Jimmy ordinary, Connecticut, what's up to me? All right, Mike, thanks for taking my call. Just wanted to talk about the Yankee. Then when judge went down. I mean, I think we're all disappointed, but I just had a feeling that the team was going to jump Kim with going to come together and start playing a little bit of small ball. And I really liked the fact that they're putting the bat on the ball. Well, I mean to me you they they're still doing the things they always do. They're still hitting on. Well, I mean strikeouts. I think I haven't noticed it being. I haven't noticed it being that that dramatically different. I mean to me Voy void until Raza's acting like Torres and God he's acting like gaudy Frazier. We're just learning about. But you know, we're seeing these guys do what they do. So to me. No, it's about it's about the pitching being good and getting some timely hits. If they do that, you know, the capable of doing all right and they've done well lately give the guy's credit. They've been a lot of the guys step up and do nicely. So they've done. Okay. And you know, they've gotten gotten lifting guys like gaudy who has gotten some big hits and his kind of pick things up in the last couple of days, and they've gotten it from, you know, lists done a nice job at third base. Both ways they've gotten it. From a voice picked it up. Obviously the last especially last three or four days and gotten a bunch of its and done a good job in that regard. Torres had cooled off after that one. His season really has been one big game in Baltimore. I mean that's been a that's been a season so far, but he did have a couple of hits last night. God yet for its last night. Void obviously to home runs last night. You know, so Ford chips in what he did last night. You know, talk men's gotten three home runs and eight I'll be is ready role minded gotten too big hits in the game before that. So I mean, you get to getting it here there, you know, got a couple of last night. So I mean picking it up here and there, and that's all they can do Franken. Colonia what's up Frank? Hey, Mike, I happen to be sitting home money weekend going to bowl season. And did see this guy jail. Joe temple go crazy. That's what you saw in the second half game. When crazy I watched one game. It's not gonna make me a quarterback nuts. It anyone nuts in the second half. But what I noticed was besides his nobility in his size. He throws more deep patterns or more pining rounds. But interleaving passes were very good. And I went to people at work say man, this guy was pretty entrusted. I don't know if he's worth I take. But then we heard the nanny connection and looking at it splits that I wouldn't be disappointed in him at all. He's not going to be here flashy quarterback. But he could be xactly. What what he will win games? My. He looks like an Alex Smith Kline does completion percentage. He's throwing this guy. Alex Smith doesn't have a big on this guy. This now, this guy doesn't have a doesn't have a. Great on. I mean, you saw him in the in the combine he had a he had a crow step in a little bit too to make those throws. He had to get a little extra. You know, giddy up on it to get those throws down there. So he doesn't have know an awesome mom, but I think it's own a ball. And listen, he's coached, you know, he's comes out of a system that the guys are very familiar with again. The question is how they wanna play this that really is that know they need so much help on defense so much. Brian call. No what's up front? They might take on attorneys. If you have an opinion on this guy Jona Williams coming out, Alabama. They have again, they'll never get them. First of all, I think he's going to be a God in the pros. But he never get them. He's not taking him at six, and he won't be there at seventeen. You got an opinion on greedy Williams, the quarterback LSU? I mean, I listen LSU corners do very well in the pros as we know. I mean, you know, LSU defenders do very well in the pros. Ofensive linemen who who do you like who who you see the first the guy you mentioned, I think is going to be a great offense lineman. I just don't think I'd love to see him on the giants. I'd love to see him as a book end as really being a ten year God on the giants or tackle. But I really think he's going to be gone. But I just don't think the giant the giants can't invest in him at six, and he won't be there at seventeen they'd have to trade up to get him. He'll be gone by nine or ten hit probably be out of there. Right after that. Right. After that if they took him, I'm gonna tell you right now, I really think their needs are dire on defense if they took him. At six I would understand that. Now, a lot of people wouldn't I would because I think he's going to be that good. I think he's going to be one of those guys who's going to be a ten year fixture in the Pro Bowl. Because he's smart, and he's tough. He really smart loves football. That's what you like they see loves football. Mickey Callaway time Mickey Callaway report served to you by CASA me goes to kill him ho to kill a straight up. It's age fourteen months in bourbon barrels and his incredibly creamy and delicious Mets playing pretty well. They got a couple of games under their belt with things are going. Well. And. Managing joins us. Now. Mickey welcome. How are you? Hey, Mike, I'm doing well. Mickey you've got an a coupla pitch and hadn't been good. But you got a couple of will pitch games from his thought is the last couple of days. So makes life a lot easier does. And we knew this was coming. We were hoping it'd be a little bit sooner. But you know, we weathered the storm and our guys will turn it around or great talented group. They're they're going out there every day and doing everything they can to be the best they can. And they're going to turn it around. And we have the last two days, and it makes it a lot easier. What about Vargas? You don't go out there today and continue to try to execute pitches. We all know that when he doesn't it gets pretty tough out there for, but you know, he's a competitor in Asia, go out there and do the best he can. And we're going to be ready to make adjustments. If we need to we have faked that he can go out there and hold them for as long as he can. And then we'll you know, kind of just the rest of the game as neat as needed. What kind of leash Mickey as far as him? If he doesn't get it turned around. I mean, how long do you go before you decided to give someone else's shot fifth spot? Yeah. You know that that's a tough question. Yeah. I think that we definitely need to put in a position where he has the opportunity to succeed. And you know, when when players don't at some point sometimes a a move is needed. But we're going to give him every opportunity to go out there and show us what he can be and what he can do Frazier since he's come back. These couple of days you've put them out there. He's in the lineup again tonight. What is he in your mind, the regular third baseman now or does he have a different role than that? You know, what I think for interim? He's the the everyday third baseman eat bring defense that is is very very good where definitely defensive a better defensive club. When he's in there, and his attitude has the way he played the game or he goes out there, and it gives it everything he can so for now he's gonna plugged in that third base position. But we also understand that Davis can do a great job McNeil can do a great job over there. And we have the ability to move phrase around if we need to. So we gotta get kinda got the best of both worlds before. Now, we want to get his feet wet third and then get him going. Now, you got McNeill. He's gotta play. You got him and left the term McNeil into now with Frazier third u-turn McNeil and through an everyday left fielder now and just give them the position because obviously the guy can hit. Yeah. You're going to see him in the lineup. He'd like that. He has to be that line. Yup. Has much as possible. Spot. I don't mind they're, you know, obviously, he has a little bit of different tool set than nemo does nimmo's gonna, you know, his on base percentages is his chore will there I like McNeil Mathu holes. Well, I like him in the six whole driving in runs. He can hit anywhere manages such a great hitter. You know, you gave the big guy for the day off today to get Smith in the lineup. More more to give Alonzo a day off or more to give Smith a chance to get into lineup. Probably a little bit of both. But more for for for a long those date. You know, he plays the game. So hard with such passion. He runs every fall out like he's a speedy centerfielder. So you know, he's gonna need days off, and we figured we would compound that with that off day tomorrow and give them to I have a feeling come in. And then get a pinch hit home run at the end of the game tonight, though, you know, if you I thought the connote thing I just walked in from playing golf on Sunday, and I can always up. I could not believe they call that a strike that was the most ridiculous call. I mean the ball hit. Can he was trying to get out of the way? I I don't even know what they were thinking about calling out of strike. Well, that's kind of why you know. And and we didn't even know that that was the case for good two minutes while we were checking on KOMO. I was trying to figure out he's going to run for them pinched run. Whereas you're gonna play. And then we were informed at they thought. It was a swing. It's it's it's a tough call in real time. But I mean, I felt like that was that was, you know, something that just the bat kind of went flying out of his hands. And I wanna get your pocket. I don't wanna get your potty ridiculous utterly on elite ridiculous. And you had your say as we know on Sunday. You know, these teams now maybe I it was the red birds Venice affiliates. Guys hitting home runs. You got guys hitting the throne inside on you guys. And they hitting you guys. Which obviously I said sooner or later that's gonna change here. The message has got to get across because you guys pretty good. Yeah. You know, what we have to protect our players sometimes. And if we feel the need we will do that at some point. And like you said they have to be smart about it. Okay. With that. I used to fight with Joe Torry about this. He didn't like the throw it other guys. He didn't like the throw even play going page. Oh, come in and plunked the first two Yankees. He didn't like that. And he did it on purpose. They didn't even like the throw with guys you a guy. That's okay with you know, listen, I expect my pitcher to do what he has to do to protect my guys. I'm a guy that's gonna protect their among good..
"fca" Discussed on X96
"Excludes other FCA US LLC vehicles financing for well-qualified buyers through Chrysler capital. Not all buyers will qualify. Residency restrictions apply. Must take retail delivery from dealer stock by twenty eight nineteen dodge is a registered trademark of FCA US LLC. My journalism career began in Utah. And then my family moved to Chicago. I was a small city girl reporting, and exposing big city problem teen is shot and killed dot com. Go is to ranks among the most expel I'm home and route to be back even here people. I talked to relate with some of those big city problems. Do new Bill under Weaver county ABC for news because we are committed to making a difference. And I'm Emily Flores. Thank you for joining us today for news at ten. We've got snow coming down whether moves in and you may have slick roads in the morning, I'll smoke. Infusions treacherous commute James you you need to evening commute expected to be worse. Utah's most whether to choose the reforms, and so all of a sudden the power went out. No one does count on ABC fours pinpoint whether it's watches. Download the pinpoint weather app to celebrate the Jeep president's day event. We're creating our own motorcade of the most awarded bestselling SUV brand ever hit the road leading the procession is Jeep Wrangler. American legend and the twenty nine thousand nine Motor Trend SUV year following close versatile Jeep, compass along with nimble Jeep Cherokee and rounding it all out. Jeep Grand Cherokee, the most awarded SUV ever the great deals on. This motorcade will be coming to an end soon. So hurry to the Jeep president's day event. Well-qualified lessees lease on the two thousand nineteen jerky latitude plus four by four for one ninety nine a month for thirty six months with three thousand seven Seventy-nine due at signing. Tax, title, license, extra Jeep brand new. Jeep Grand Cherokee has.
"fca" Discussed on Talk 650 KSTE
"Segment excuse other FCA US LLC vehicles registered trademark of FCA US LLC. Independent in thoughts and punk rock in life. It's the Chad Benson show. After two years doing more than two hundred witnesses. The Senate intelligence committee has not uncovered any direct evidence of a conspiracy between the Trump campaign and Russia. That's according to sources on both the Republican and the democratic side of the aisle, Halley, careful viewers, and readers will note that Senator Richard Burr, the chairman of the intelligence committee who leaves this probe essentially said that in an interview with another network last week, but what I've been doing since then is checking with my sources on the democratic side to understand the full context of his remarks because that was essentially a partisan comment from from one side, but this is a bipartisan investigation, and what I found is that the Democrats don't dispute that characterization. What does that mean? Well, as far as the Senate committee gets together is there collusion. Nothing. We can find. Right. Did some of the people in the campaign who got in trouble? Got in trouble by their own doing and much of which a majority of which came when they were what? Out there taking money, not declaring it income hiding it, right? But as far as actual collusion. And let's remember this is how this thing started was let's find out how Trump won. It can't be just that other people want ham over her. That's impossible. She is she has been groomed for this. She was built specifically for this to be the first woman president in the United States history. There's just no way there has to be collusion and know. No, no. It's not now. Did they make poor choices? Absolutely. With the company. They kept. Yeah. Should they have done better? Yeah. I think so I think we can all agree with that. I think we can all agree that the manafort's of the world the Roger stone's the world. But again stone in him been friends for forty years. So it's not like, you know, it's not like, well, he only became friends with stone. Everybody knows what's known did custodian did it for a lot of presidents and a lot of people in politics. The Coens of the world. In saying that. Does this mean anything? No, there's still going through the Muller investigation is still going on. And that is going to continue to go on. But there was you know, there's nothing here. Now, the Democrats like everything else when they fact check, you know, in fact, the impartiality of fact checking is all by the person who's doing the fact checking is yeah, we couldn't find anything. But but again, no direct proof of. As one democratic aide said to me, we never thought we were gonna find a contract between Trump and Vlad saying, hey, let's collude, but the question is how do we interpret all these various contacts between Trump campaign and Russia. Well. But if you're interpreting something, and I said if somebody earlier in life, it's not what you know. It's what you can prove you're trying to interpret a conversation. And if you think somebody's guilty, you're going to interpret it that way, if you think they're innocent, you're going to interpret it another way. So what is it? It's not what you know. It's what you can prove. And if the Senate, and it's a bipartisan, this was not all Republicans was a bipartisan coming out and saying, well, we can't find evidence of collusion. This is two hundred plus interviews almost two years. Few other people to interview now doesn't mean that Muller's going away or any of that stuff? But the reality is the they have a lot of classified information. They were able to do a lot of things and go a lot of places that maybe even Muller didn't have a chance to go. And. Still nothing now that's not going to satisfy some people, right?.
"fca" Discussed on News Radio 690 KTSM
"FCA US LLC. The only man who is taking on the Wall Street establishment. You're listening to the watchdog and Wall Street with Chris Marquel skiing. I'm not gonna get into Elizabeth Warren. What a phony she is. I think most people can figure it out themselves from the whole fake Indian thing to the beer drinking thing, and you've got to go back and take a look at her history. And her dopey self-help books that she used to write. Reality is is that her asset forfeiture scheme. Her going in and stealing people's property. It's not gonna raise a lot of revenue. And it would leave the country worse off. But the reality is. The reality is is that the people that are backing her. They're not about what's right? And they're not about what's raising money. She's got economists Emmanuel Sayas and Gabriel Zuckerman arguing the case. Now, first and foremost, economists to us here at the watchdog on Wall Street show are nothing more than astrologists terro card readers. I'm actually think I should do a bit every week. And run it like almost like the astrology pages. I'm a cancer. What is what is your economists say under your stars? It is crap is what it is. To them. To them. It's not okay. For someone else to have more or to do better. A just want to hurt wealthy people. You got it. It's all it is all they want to do is to hurt wealthy people. I'm going to ask everybody a question here right now pay close attention has anyone ever lost a job because a rich guy bought a boat or plane or takes a helicopter off a helipad? That was Alexandria Cossio Cortez's thing what Elizabeth Warren this past week. When after Daniel Snyder, the Washington Redskins because he bought a three hundred and something foot got and it had an IMAX neater on. Did anybody lose a job because Daniel Snyder bought that boat? Did people get jobs in our people employed because they're spending money. Real simple. You think like Daniel Snyder background came from nothing built his business up in his parents bedroom with a couple of phone lines. When Barack Obama. This is the trajectory. This is the direction. This is why we have there's a lot of an my opinion real life losers. Lurking in this country. It's like a disease. It is it's like a disease, and it's just spreading. Rather than looking to people who are successful that do. Well, we tear them down. Oh my God. Look at the collective freak out over Howard Schultz thinking about running for president, you know, that guy's back. He came from public housing in Brooklyn nothing. Good for him. Look at what he did look at what he pills, I don't like their coffee, but that's okay. Lots of people do. Rock Obama in a debate with Hillary Clinton. When asked about capital gains rates was presented with the fact that well Bill Clinton lowered capital gains rates. And revenue to the treasury went up. Barack Obama's response to that was he wants to raise taxes due to fairness. What? And I said right then and there this guy's dangerous. That could be the most UN American thing a presidential candidate had ever said. But that's where we are. You have a large swath of the population that are highly un-american. What they're suggesting is highly on American. Point of high top marginal income tax rates. Is to constrain the immoderate. And especially unmerited accumulation of riches. That's that's what these economists are writing. Is that American to you? Gotta take quick break or on this..
"fca" Discussed on News 96.5 WDBO
"Damaged was FCA Marianna, a medium security prison in the Florida, panhandle. The roof was ripped off the fence was destroyed forcing hundreds of inmates to relocate to a facility in Mississippi more than four hundred miles away since then correction officers like Charles Jones have had to make that seven hour drive for two week stints the now with the government shutdown. They're making that journey with no pay. We're all doing we'll hardships for. Now because of the hurricane itself and the democrat, but then now to have to go out there and not getting our travel claims reimbursed is just put additional hardship on people and on his own family. Saw a little rain months pregnant right now, you know, the plan was for her not to have to work from about eight months to bench as a baby. But now she's going back to work a couple of days a week as a ten year veteran of the prison system Jones has been through shutdowns before they've all had their own dynamics. But it's always the uncertainty that comes with it. And this one there's a lot of uncertainty if you know elected officials are actually going to do their job and come together, and I'm making agreement they're supposed to do because they're getting paid to do it right now. And we're not adding insult to injury having to deal with unruly inmates. Who are still getting paid now laughing at the officers. They are doing things extent of like. Oh, yeah. You guys ain't getting paid and stuff like that to lose that are working out there. There's also the fear of whether they'll have jobs at all soon. We all don't know what exactly is going on with the federal prison if they're going to rebuild if they're going to displace employees what they're doing when it comes to being sent yazoo how long that's going to go on for President Trump has warned that the shutdown might last months or even years that's not notching for Jones or for most of the roughly eight hundred thousand federal workers affected right now, just compromise. And come together. I don't think it has to be one side. And particularly I think they just need to come to reality. And just come to an agreement and opened the government back up the government shutdown now in day Twenty-one. Samantha Jordan, news ninety six point five WDBO. Good morning at six fifty seven now on Orlando's morning news. Joe jacket weather again this morning but temperatures rebounding as we go through the weekend this afternoon in the upper sixties good deal. A son tonight down in the mid fifty s partly cloudy tomorrow back into the middle seventies. Just a straight chance of a shower. From channel nine eyewitness news. I'm meteorologist Brian shields. Right now. It is clear. Chilly Forty-six, Orlando's severe weather station. Safetouch Security triple team traffic. You're probably seeing or maybe even smelling the smoke as you're driving. I four this morning, and there's a house fire our helicopter flying overhead Erawan, Eric Brown..