35 Burst results for "FCA"
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
"Morning affected Recent in Shut three one deal trade a data range hundred seven province down weeks to with the and provide dollars global forty France. of released cloud in it's economy one a Canada on services Psa the chief two Monday to point contracts executive ninety in point should Group one Poland which started four and six India's point is billion as expected about zero six to dollars the Langa manufacturing gradually create dollars Central nine three dollars the to percent reopened. to European said world's fall sector on eighty at the Its country shop four day higher economy into fourth the point close recession. New as on largest was York four Monday. contracted seeks too overnights This eight more to few position year. comic the dollars importantly Allow rebounding stock and at itself far the fastest into has on between museum traded for the from Mosques day. said as operations losses pace South at a Tesla's on ninety regional in record it's East earlier two remained stock Asia's five stalls center German in market the committed The biggest day point with for stock value an still cities. Technology economy. outside one has to reached traded investors international two Grew entrance it at zero two six welcomed up for eighty. point zero customers. benchmark Five month The news nine dollars company the average point spines seven that expects Brent Polish. the of Reserve percents nine unexpected at one crude second Prime Meanwhile in its hundred one Bank quarter January for Minister highest July zero of point India sales zero the and plant's delivery is dollars unprecedented to and two Mott's and considering fall reopening eighty at billion February five by was at its use least changing highest the times point dollars fifty proposal modal nine the hands percent Wall wet. bell. Street and one according Keith The at for as most eighty extending since twenty three populous to said an two point conference quarters the analysis dollars thousand eight moratorium city point five in a and call. statement of one Sarah in two its of the shares at province F offensive five on C and its of bank Zero dollars Welch FCA Quebec data that loans lowest dollars a he lots barrel are deeply of by Chief was during still at a another Executive the five its delayed past up believes closed. lowest point seven three three Michael zero that's months days point during to seven Microsoft's the H. May past to eight Manley But percent help Trench seven eighteen six it's clients confidence. investments in the percent days same gives set struggling ferret from marks in The the Poland retail last Thames the eleven and option environmental year. will that of be by important was the the the currents news to will gradually as buy It and and at have for that also there that lockdown this one enterprises was improved was point. time are not the few the news news Six missed in on hospital changed from at the Africa. at nine the country this this time time beds
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.
GM Files Racketeering Suit Against FCA, Names Marchionne
"GM is filed a federal racketeering lawsuit against competitor fiat Chrysler W. W. T. radio's Jeff Gilbert GM charges that fiat Chrysler bribed its way to a better contracts with the U. A. W. putting all their car makers at a disadvantage Chrysler says its astonished and will vigorously defend itself against what it calls a merit list suit the UAW meanwhile says it feels its contracts with fiat Chrysler were negotiated
GM sues Fiat Chrysler, alleging union bribes cost it billions
"Garden General Motors is suing fiat Chrysler alleging that its cross town to track rival got an unfair business advantage by bribing officials of the United auto workers union the unprecedented lawsuit filed today in U. S. District Court in Detroit alleges that FCA was involved in racketeering by paying millions in bribes to get concessions and gain advantages and three labor agreements with the union in a statement fiat Chrysler called the lawsuit
GM sues FCA, alleging corruption of bargaining process with union
"Breaking news out of Detroit General Motors suing fiat Chrysler alleging that its cross town rival got an unfair business advantage by bribing officials at the United auto workers union the lawsuit just filed in District Court in Detroit alleging that fiat Chrysler was involved racketeering by paying millions in bribes to get content concessions and gain advantages and three labor agreements with the unions the tail to the racketeering I've been exposed in a federal investigation of corruption of the union that has resulted in multiple rants lawsuit alleges that fiat Chrysler corrupted the bargaining process with the U. A. W. in the two thousand nine at two thousand eleven twenty fifteen union contracts to gain advantages over
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..
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
Ram truck tailgate danger prompts FCA to expand its recall
"A ram pickup truck recall is being expanded yeah Chrysler says the tail gates of six hundred ninety three thousand more trucks risk opening while in motion and they'll need to be fixed this new recall covers certain twenty thirteen through twenty eighteen ram fifteen hundred twenty five hundred and thirty five hundred pickups with power locking tailgate it also covers twenty thirteen twenty fourteen and twenty eighteen pickups built before April first of twenty eighteen no injuries or fatalities have been
"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.
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.
"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..
"fca" Discussed on WIBC 93.1FM
"Trademark of FCA US LLC. Independent in thoughts and punk rock in life. It's the Chad Benson show. President Trump and governor Scott. Seem dead set against counting every vote why? Because they're worried that if every vote is counted Bill Nelson will be reelected as Senator so. Is about the best. You could say the floor. I mean, Arizona was a mass. But the mess is cleaned up still some votes being counted. But yesterday Huston cinema. She one she's on her way. You saw the state turned purple that you look over. And you see Florida and say what are you waiting for? That's a good question. That is a great question. What are you waiting for? I don't know. But my question is how we in this mess all the time with elections. How are we in this mess? How do we get to the point where apparently some people thought you could vote online because of the hurricanes, and they were going to get a special dispensation to vote. I mean, there's just so much just ridiculous. That is going on. I it's it's sad. It's sad. We're a week done removed. We've moved on a week. One week removed. And they've got to get done by Thursday because there's gonna be a recap. I mean at this point in time, I feel like let's just have the recap. And let's just start all over again. Let's come up with one set of rules. Because this is a joke. Arizona. Same kind of thing antiquated system. Scott to be better. He's got to be better. Not not better. Now, if you're Trump you take a look last week. So you've got a situation where you know, Scott. Santa's you're hoping victory. They're not quite sure what's going to happen. Gonna be a recount, then there's probably going to be a runoff who knows? What will come of it? There's lawsuits competing everywhere. You just saw. Arizona. Very red. Uber. Read. Become purple. The Democrats look in there, and they're just well, they got a smile on their face. So not only did it become red. You had a democratic Senator elected since the first time since one thousand nine hundred eight she Houston cinema, openly, bisexual, apparently that's vitally important for some people. It's so funny because only in the left wing articles of stuff that they talk about that like, nobody. It matters for some doesn't matter to me. I I care if you're capable or not. But here's a woman who code pink one time, she called herself, a communist, they played all these things she sympathized with the Taliban and all this stuff. And I'm just like, okay. Whatever I mean, she went up against Martha mcsally, Martha mcsally veteran first female fighter pilot in combat. And I'm like, and and that was my big things. And because I during the last election cycle is a lot of people didn't have ideas of what they wanted to do some tied themselves. So they have of Trump others ran away from Trump someone who ran away some lost and same thing. Some we've tied their hit the Trump Lawson some what? But not a lot of ideas. And everybody's like, well, she's a veteran. How can they do that? Just means you're veteran doesn't mean that you should automatically win. I was talking to somebody. And it's like, well, it's not it's not a better service. She's amazing. What she did was incredible. What I listened to a commercials. It was Uber negative. It was awful nothing. I learned nothing other than this other person dove over her because she wore pink Tutu, and she said, she was a communist ten years ago, or whatever and she made fun of the state, and blah, blah, blah. But I learned nothing about you other than you were veteran. My uncle. Several tours in Vietnam. God rest his soul. He since passed. He was a veteran. And I wouldn't have let him. Run for anything. Totally dissuaded him because it's not a good not a good fit. It wasn't good at anything. He wasn't. So if your though the Republicans, you're looking out there, you're seeing the fact that Betto almost beat Ted Cruz. That's huge demographics are shifting nationwide. Younger more vibrant group of people who are engaged in a different way. They're not always active as far they're engaged in a lot of ways. Yeah. Let's do this. But they're not always active when it comes on voting day. But I do believe they're gonna get there. They've been there a good portion are extremely educated, and in those educations, those bastions of learning they've been in many ways indoctrinated to to the left side of thinking. So what do you do if you're the Republicans because I do believe you've got an issue looking forward. It does represent a kind of a realignment in our politics. Arizona nevada. Now, pretty solidly democrat Nevada's. Arizona store, but Texas is moving and if you look at the demographics is all good news for the Denver, Democrats and bad news for the public is there is some of that and part of that is that younger voter demographic. So if you're the Republicans you gotta start figuring out what you're gonna do. We talked a bit about it before with what are the message because the Democrats their message has been simply we're nicer, and we are. We're not that guy. So everything they run against is that guy. But you've got to come up with a message to and if you're standing back and you're saying okay week ago. It didn't look like a Blue Wave a week on. And there's a chance it's going to be it's not going to be Sonam e but it's definitely more of a wave than it was a trickle. What are you going to do in? That is a huge question because the Democrats look around going Nevada. Hey, we made some head waves places like taxes. There's some things we could be doing here in the Senate a map that everyone agreed favorite the the Republicans Trump country red states where at the end of the day Democrats may lose once they may depending on what happens in Florida come out even that is a big victory. And you're seeing you know. Wave elections are when a bunch of people vote in ways that you know, that you wouldn't expect them to. So I don't know if this is the way it is a realignment democ, the the voting public has gotten younger it's gotten more diverse. It's gotten more suburban all of those things are a positive sign going forward for Democrats. Now, it is not panic time yet, but I will tell you. The way it's going. It is going to be very hard. For the Republicans to recover in the coming future. If they don't start to figure out what their messages if I'm the Republicans. I look around and say, all right. We need to do something. And one of those things there a lot of failure to declare to want to declare independence out there. And we know that those are the people have to get and there's a lot of people and more and more people are becoming quote, unquote. Libertarians for whatever word the you wanna use independence. Libertarians a lot of people throw that out there. But. Conservatories is what you should be looking at. How do I grab these who knows how many millions forty fifty sixty million? How do I grab them? What do I need to do to grab them? Because the message that we we've lost our way if we're if we're going by pure values of conservatism, Donald Trump's not your president. Right. If that's what you're looking at especially if you're running on, the, you know, family values, all this stuff. He's not your president. So then what? What are you running on? Because eventually he's going to leave. So if I'm out there right now, I'm looking at the libertarians. And I'm saying how do we get them the same way that the Democrats have figured out exactly who their group is? They're looking at the young, which is a massive massive massive. They've got the house, shall we say this financially strapped, right underachieving, poor whatever you wanna call it. They've got them the diversity of African Americans Latino Americans the they've got all those things they're now, they're not doesn't always resonate with them. And sometimes they fail, but their understanding a lot more their message sucks. And they've got to figure out because those people also want to be served in a way that isn't. We just hate Trump. That's good and easy message now. So what do you do if I'm the Republicans? I better start coming up with something because right now. I look out across the landscape, and I said it out here. Arizona's come purple. The fights on and the demographics are showing especially in bigger cities. You're gonna find this more and more and more and more purple and eventually blue in some areas. So you better start figuring out what your messages to keep it purple. So you have a fighting chance of these things that opportunities you're gonna come where your message will went out. But whatever that message is you better come up with it sooner rather than later, and it better be broader than well. They'll just like our message if they don't like it then go somewhere else because guess what you're going to be doing going somewhere else. Two three two three five three eight twenty four twenty three at Chadbensonshow is your Twitter tweet man and tweet at you Jeddah, tweet read a key word that remote do tweeden. You we were talking about this earlier about travel because travel is going to be just a I I'm traveling next weekend. But I'm not going to be traveling during the week of I'm going to travel go see Jack, and then I'll be done, but the amount of people that are gonna be traveling next week. Thanksgiving travel is a headache. Most years experts now say could be the worst ever starting this weekend. We're expecting an all time high for twenty eighteen thanksgiving travel. US airlines are planning for thirty million point six people to travel airlines for America's Sharon Pinkerton says the worst travel day the Sunday right after thanksgiving. Andy Field ABC. News washington. Yeah. So I would want no part of any of this. And next week. I'm gonna drive him at early Jack our early time. But it is it's crazy. And I'm looking at the TSA looking all that's going to happen. And I just I've never got the travel on the holiday thing. I just have it. And when you think about we're talking about this yesterday travel alone, especially if you're gonna airport because I fly a couple of times next month, and I'm already dreading because I know that. Okay. So you there an hour and a half two hours before to try to get through the line because it's going to be busy take off my shoes. I gotta do this. And we sit there, and then it's gonna take me forty five minutes and our to four my plan that will get on there. We'll sit on the tarmac there. We're gonna fly and the one where they get there. We've got gotta unload the plane and the whole and you're like that's four and a half hours for your hour flight. It's crazy. It is. And it's going to be worse because now even with breach act, they're saying don't don't think you're going to be just zipping in and out. Three two three five three eight twenty four twenty three at Chadbensonshow is your Twitter. Hey, not smart and smart, not smart traveling on that Sunday after thanksgiving when it's going to be doing. What are you doing? Not smart. Not using ZipRecruiter..
"fca" Discussed on WJR 760
"Made here so that just straight and that's a honda by the way just illustrates that this isn't the days the old big three will no it isn't but i've always thought of ford general motors and now chrysler fca is what we call it fca were american made kids it'd be follow the money much of it other than fca now which is really based in another country the money was coming back home kind of is the way i looked at it but meanwhile because foreign manufacturers now are making their vehicles here in the us with more american made components it's why you have honda showing up in the top ten with four different vehicles yeah no i it's you made a good point about the profits where the profits end up is important and an honda you know would be an example of a japanese automaker that makes a lot of vehicles in the us but the profits are going back to japan you know ford is actually the most made in america a major automaker if you measure it by the percentage of vehicles made here they actually only import about twenty percent of their vehicles gm is a third place there thirty nine percent honda seconds but then there are some automakers that are bringing a lot in and that's why you know the terrorists could really hurt volkswagen bmw diner some of these german automakers that import a lot of vehicles so if president trump im imposes tariffs on them they could be in trouble and so i think there's a lot of trembling going on right now well i'll tell you it is right and just that jeep america's vehicle the jeep is number one as most american on your list here and it's not your list.
"fca" Discussed on FT Banking Weekly
"From the financial times with me patrick jenkins joining me in the studio today caroline benham off an actual regulation correspondent nick mogole retail banking correspondent and we're joined down the line from paris by harry agnew correspondent in france also guest this week is charles randall who's champion of the financial conduct thority this week we'll be discussing the fca caroline is just back from interviewing mr rendall at the secondly look at monzo the challenge of bank as it reports record losses and finally look at rothschild and the battle that has riven the old banking dynasty i to the way caroline you've just hotfooted it back from the fca's new headquarters in stratford in east london wave being speaking for the first time i think in terms of the on the record interviews that chelsea rambled the champion has given a few interesting lines which will go on to hear about but possibly the most striking is that he's worried about the misuse of data is that right that's right say yes you're right this is charles randall's first interview as the new chairman of the fca he took over from john griffith jane's in april he's formally appoint member of the prudential regulation authority at the bank of england and before that he was a corporate finance partner at sorted maitha thirty as say i asked him what his main concerns and priorities would be going forward and top of the list i think with the use of data or misuse of data he wants to prevent financial firms from having their cambridge on olympic amendments he said and basically is rightly worried about how algorithms might right throw out outcomes that aunt entirely inconceivable best interests well let's hear exactly what he did have to say about data misuse well there's several different ways in which i think the use of customer data could create issues of confidence fans the application of algorithms to customize can if it's not property governance supervise can run away and start producing outcomes that society would regard as completely unfair for example was abc news report that some price comparison websites of kids to the quizzing higher premiums on car.
"fca" Discussed on KOMO
"Things like the sublime challenger from fca we have a matching green we have a lot of different accident colors and people combined these accident colors in our interiors in subtle ways you don't think of entire green seek to think of a black seat with green accents and perhaps green stitching or piping that might complement that there their many tasteful ways that you can use these colors and materials we also have carbon fiber materials in different leather embossing that you can integrate into these interiors let's talk about piping because obviously you don't have to have the same color sita's piping so prison physician you can get a yellow seat with public piping or a policy with yellow piping or you can you can make some combinations surface but is died in the substrate of the leather with a more striking color and then the leather is perforated with a square preparation and you can see the the accent color underneath the blacks finished leather around the edges of the square perforation and so we offer that in yellow and red and blue and many times people will combine that material and the insert areas of the interior and then they will use an accent piping or double stitch maps that color and so the interiors very well coordinated i am what i would like to call a creative person so my mind is now running in fifty different directions thinking of color combinations and things i could do on the inside of my car seats i know that one of the things that luxury brands started to do in the last few years was to do the diamond stitching pattern on the inside of seats the quilted like kind of like quilted diamond pattern is that different patents for those seats that you can get as well as different colors.
"fca" Discussed on Bloomberg Radio New York
"And infrastructure firms are directly involved in this effort supported by the fca and the bank transition to sonia will bring a number of benefits market participants can have the confidence that sonia faithfully represents conditions in a deep underlying market they can also be assured that sonia's design is rough is robust to future changes in markets themselves and money markets themselves because if necessary sonya's data inputs can evolve more fundamentally near risk free rates like sonia are better reflections of the general level of interest rates than library after all libraries affected by fluctuations in the perceived credit quality of banks and is well by other technical factors as we've seen in the last few months interest payments for benchmark users should be less voluble volatile or voluble voluble and volatile as a result with sonia especially in times of stress and products referencing sonia should provide a better hedge for daration risk over time we'd expect the private sector to develop a wider range of products reference referencing sonia futures contracts have already been created we can expect deferens and loans referencing sonia to follow and the end should be an ecosystem for interest rate markets which is all has altogether healthier foundation than it present developing the infrastructure around the near riskfree benchmarks globally and assisting market participants in dealing with legacy library portfolios is a significant opportunity it's a challenge but it is a significant opportunity for innovation.
"fca" Discussed on KBNP AM 1410
"I would be we feel like the fca people bear interior designers the truck has to be a home run go work on that and then whoever else is available go work on the wrangler we need both of us to be home runs and the we looked at the wrangler was a close contender but boy this pickup truck is you know it's a luxury suv inside the we tested the ram limited lou bluish tint interior unbelievably nice you know just the detail the little elements the filagree and things that they built the end is is just surprising then everything works such as that you connect screen and all right that now do you didn't compare that to the the standard work truck ram i wonder how that interior looks 'cause we we we have a hard time finding those anymore the basic pickup trucks and you know as you as you drill down through the through the trim levels yet you do get down into the traditional gray plastic they even just go to like an upper i think an upper glovebox that's just the open spot but don't work trucks and those are folks who you know don't need all of this or want all of this you know trim elements getting in the way of them getting the work done less up next is the porsche panamericana as bob grit singer from ward's auto said it's probably the most expensive get about a minute left but let's let's cover the shirt before the break what else the panama completely redesigned the interior of of these courses and you know they've they've kind of gotten away from the seven forty seven flightdeck luck and so everything is really clean easy to get at the things that you wanted hand they're there and varying keeping with that porsche sports car utah you know let's let's make it a driver's car and then here are the things that you need aren't working lists of ward's ten best interiors for twenty eighteen with bob brit singer we are going to be right back with the rest of the list on cruise control radio your on air automotive magazine we'll be right back.
"fca" Discussed on CarCast
"Used to this yeah this is somebody answer other than sorry this is mercedes benz you can see him being surprised chrysler beat just every day that have to you're right hall something or fix something once you get into their system the first person i spoke to the first contact fca fiat chrysler assembly as you said said no problem you're well within the guidelines in fact you're normally we allow them to go over twenty four thousand miles in two years over the time and twenty four thousand over the mileage on well within the mileage six months over the time so somebody even told me they're going gonna take care of me 'cause they definitely offered assistance i harry a new transmission after fifteen when did you have a cheap before your w yeah the number used to make fun of put rims on and stuff it was one of that thing kind of wipe it from our minds yeah it was gross adult good all right that's right mike funny with rims all right so here's the rich hang on a second i gotta make sure maybe the only saving grace i have is for your new tv show it's not out yet to catch a manufacturer okay i'm done there you guys are corporation i hear here's here's what i'm gonna say rich i don't know whole lot about this subject but i'll bet you there's a lot of consumer advocacy lawyers in groups and things like that who can guide you through this and i will bet you and i don't i don't say that it's free but i bet you there's somebody you can find online and you go here's what i went through with this company and this product and then they will go i have done this before here's what you need to do you need to gather up whatever paperwork you have you need to send me screen shot of it or whatever let me look.
"fca" Discussed on FinTech Insider
"Let butler wayne history and following the financial crisis at the independent commission on banking which was led by john vickers was tossed ways basically a altering the exam question should the big banks be broken up and the commission thought about that from two points view on was the con of too big to fail and financial stability point of view and one was the competition point of view ins m one of the recommendations that came out of that commission alongside ringfencing and other things was at the recommendation that the fca should be given a as statutory objective to promote competition am because the the financial sector would be healthy ah am if it was more open more competitive vab if there was more competitive discipline on banks at we might be less likely to have the kind of problems that we've seen in the past at going forward so the the competition object ready came out of that at commission was put into law i am and adep and i will high ads and nearly five years ago now to cut have come make that a reality it seems like coy to a fine balance competition because on one hand if the mall kids too static then everyone's happy and they're you know the rope a big banks providing the same service but no innovation enjoy full wooden pressure on prices on the other hand too much competition of things get very chaotic how do you how do you manage that i think there are there are two schools of thought around the m one school so much as you as you say is around the idea that s am banking consists of a small number of at systemically important institutions and if you rock them you wrote to the system at the other school of thought is that a a more diverse banking ecosystem at might involve individual institutions paying less stable but the system as a whole baying more stable so i think they're they're continent at different views round match.
"fca" Discussed on FinTech Insider
"At built up from that some of listeners and now thinking great how can i get hold of how can i set up this conversation about by the thing that i want to do yet we would be delighted if people get in touch with us you can give us a call on plus four four two seven six six double for devil late or email us at some box at fca dot org to uk i'm sure you'll get a deluge of interest nick how can people find out more about rick tech analytics in the afc i am how they can help to assume we're we're we're outs in about quebec on the conference circuit at the moment they can go to fca to olc don't uk slash rick tech first contact details on there for the team and i would encourage people to have a look at the imo tech sprint from my where is the first fully open event we've held in this in this by so we are looking for participants who had coming along and and contribute to that perfect nick thanks very much thank you so to start off we have gray mclean and vowed smith thanks for joining us think of how you guys doing today very well we could thank you welcome to the fci feeling lago very welcome to this moment uh is great meeting room and thank you for having as in the building merely fulton vaehi distraught foot when we moved in the summer i think the one of the loss time is always in the afc a wars with the monceau f c h having session i must admit i was a bit different i was very nervous that was a a team of sort of seven or eight to crow very experienced superclub of people across the room grilling me so now i'm feeling a bit better on key question though when you open enshrined foot will there be a housewarming 'cause i walk up to that policy in nepal.
"fca" Discussed on FinTech Insider
"Graced sohail with chris will reload for people who don't know you chris could you tell us a little bit about you and the role that you do with the scn so monstrous world farm director of stretching competition here at the fca uh one of the things over spilt before is out of work around innovation and in particular innovate as malls and the work that we do today on sign books so how did you get here i mean it it seems like quite a power docks that a regulator tends to be that kind of strong government style organization and here we've got innovation a digital the welsh changing around finn tech how do you find yourself in israel so i'm no financial regulator boy trading if you like but i have spent long told me government and also longtime in in other regulators as well so most my career has been around or the whole oh previously elves off com who's a communications regulator disparate but it's hard the bbc um so go a sense of possibly the water uses technology beyond simply financial services but a lot of my career has been rooted in competition and how do you troy and use competition to solve some of the problems that consumers not fond in markets so when the fca was created any had competition past the first time which is pretty unusual for financial regulator that's one of the reasons why i came aboard to set that function up bhutto said think no probably about could we use some of those ideas in a financial services setting and say what are some of the guiding principles i guess that you you set this this the organization up to two folic so we had some pretty simple principle was in terms of how we thought about renovation work really from from stopped the first is many of the people that we're talking to on not traditional financial services players so we have to make dealing with us rudy as simple as we can.
"fca" Discussed on FinTech Insider
"Who is if you do that fundamentally you're not going to end up any different from all the other lend is out there right so he's doubt datadriven machinelearning augmenting actually that human element of of the people coming in front of you so i guess moving onto technology you know what is this stack i think i first heard of you guys when i heard that use moved to the cloud of quite a few years ago the even mention of the cloud to the regulators would bring the mass in a fit and all of a sudden you take and you'll coal systems now onto aws talker through that process so this is incredibly interesting so what we are a licensing prices in 2015 we said to the regulator to the fca that we wanted hadi stack text couple of cloud right and the very politely said you can either helpless right out white paper on cloud computing or you get a licensed right so we said okay let's get a licence first then let's hope you write your white paper right so that's what we did we we got our license and then we actually went back to the fca with aws right and jointly we actually worked on she giving inputs into cloud computing policy for the fca as soon as they they got to the point where they will like way we have comforts now that we understand right and have our hands around this we flip tower infrastructure into the cloud right so we had to take aids is sort of the prehistoric ages of cohosting but that we reflect your back into the cloud and again to to move our whole stack up into the cloud to call carlos like six or eight weeks and and we just to give you a sense of how nimble the infrastructure is today we ran a bcp tests business continuity test where we to rebuild our whole.
"fca" Discussed on FinTech Insider
"And we've got of course kepco's principle lead and star of halloween off to dock but without be spite amount face paint this time celli would wayland is the face painting coming and do we gather again it's not no it's not every episode come on i was promised maybe will do something full what's next valentine the times he paid salts charlie inch hollywood in unappy is going to stay restore look in his inaugural so let's get started with this week's news surfaced up fca bans be y od bring your own device who knows something about this i i know that the fda backtracked say they they publish something which basically said it was taking something from from the beginning you legislation method to not have to then be transposed into national law and makes the time what happens is the natural doesn't look at it and go okay that seems good we'll have that and copy in place to end their lawbooks what seems to have happened here is that whereas the original piece of european legislation applied specifically to a certain type of financial situation in this case investment which has a specific definition the afc missed that would out and said nobody who works at a financial institution can use their own device basically cold not paste aero questions of them they came back and on the register was the news organization the fed publish this pointed out and said you know half the fca goldplated it and that's what a national government does when they like we don't really won't be able to do that so going to make it twice as hard or have they just mr would out and there she came back and said individuals can bring their own devices but firm should take all reasonable steps to prevent an employee or contract from making sending or receiving relevant telephone conversations and electron it communications on privatelyowned whitman which the firm is unable to record a copy so is that any clear will surge easily too so basically there's a bunch of software that you can put in place the whole sort of mdm stuff that you can put employees and as you will the provisions wrench security mechanisms that you can i she put on personal devices to allow specific policies to be adhered to guy like ghana ghana analyst did a bunch of like stuff about this because the whole.
"fca" Discussed on FinTech Insider
"You sacrifice you'll life and that is you know that's a particular a decision that you make at the time that ongoing to train all hours ago to eat a crazy diet i'm going to give it my social life in order to achieve greatness so i might say that there's is a know relay you've got to create the room for people to be able to do that if they want to inside of a culture but at a certain stage and a certain age of organization the reach the point where you can't be stuffed exclusively with those people because not everybody can be the battle of the the issue that you have a founder who's saying listen we are building something great you're you're helping building at you helping to build it so we gotta work all hours of the day so i mean the staff might get you know some sherry for the primarily paid an income the person who's getting the benefit of the new building this great thing is the founder so the kind of like the dynamics are are more i guess permits than olympics renter so moving on to this secondstorey the fca produced a report this week with lessons learned from their son box and for international listeners the fca is the financial conduct authority one of the regulators in the uk and the some box is a new initiative that they launched wizardy of a year ago now where they encouraged longer than as you said there are there are up to coku for reached about to start thinking about kogo full so it must be nearly two and a bit where they bought in new firms and indeed traditional funds that were looking to test.
"fca" Discussed on Money Box
"On the other hand if it does really really well you would get the benefit of that growth as well so different people will have different attitudes to to to whether or not they want to go it alone in january the fca warned financial advisers such as yourself nick about the suitability of transferring out of a final salary scheme of any circumstances when pulling money out of the final salary scheme with sort of gold plated protection is the right thing to do suitability as a key worker so there will be circumstances there are circumstances where people might benefit from such a transfer whether giving up the guaranteed stream of income they will got from the final salary scheme in return for these reasons and choices were talking about an a good example might well be the taxfree cash from a private pension in many instances will be greater than the taxfree cash lumpsum you get from a defined benefit or final salary scheme so we've seen examples of people coming out to retirement you can take the taxfree cash from a private arrangement totally discharge their mortgage liability but if they took the taxfree cash from a final salary scheme they couldn't quite pay off the mortgage i still have to to pay that off during retirement it could also be the case that somebody for perhaps his single who has no financial dependence could have a better shape of benefits coming out of a transfer to a personal pension than from the defined benefit so he's not the case it every person should remain inside of finally reaching the chrysler heroin and actually to be fair to the regulator they require to our startingpoint for advice is unless we can prove otherwise they should remain members of defined benefit schemes with me about it tax rules for taking cash out the pen pension what are the basic rules fianna.