FIAT may move HQ to US

By DocM
in The Neobahn

 Share

Recommended Posts

Grand Master

DocM

Posted
Posted

http://detnews.com/autos/article?a=2013305160328&f=1213

Fiat SpA, Italy's biggest manufacturer, is considering moving its corporate headquarters to the U.S. following a planned merger with Chrysler Group LLC, three people familiar with the matter said.

Chief Executive Officer Sergio Marchionne is evaluating the switch from Turin, where Fiat was founded in 1899, to the U.S. as the carmaker's revenue and profit center shifts to North America, the people said, asking not to be identified discussing the internal deliberations. Fiat generated 75 percent of 2012 operating profit in North America.

No final decision on the headquarters has been made and other options are being examined, the people said. A Fiat representative declined to comment. Marchionne said last month that he favored a primary listing in New York for the company.

Moving Fiat's headquarters away from Turin's iconic Lingotto, a former car plant with an oval track on its roof, could create a political backlash in debt-ridden Italy, where the industrial sector is in decline. The unemployment rate is near a 20-year high as companies refrain from hiring amid the country's longest recession in more than two decades.

"It's the logical solution as the center of gravity of the group has moved to the U.S. and for its ambition of becoming a global player," said Giuliano Noci, associate dean of Milan Polytechnic's business school.

Chrysler, based in Auburn Hills, has become the group's profit generator as Fiat struggles to end losses in Europe, which totaled more than 700 million euros ($900 million) last year.

Fiat's dependence on Europe has been reduced drastically since it took control of Chrysler in 2009. The region in 2012 represented 24 percent of the group's 84 billion euros in revenue. When Marchionne was named CEO in 2004, Fiat relied on Europe for more than 90 percent of its 27 billion euros in sales.

"Europe is becoming a less and less relevant fact in the scheme of things," Marchionne told analysts last month. "It's a reflection of the ability of this house to shift its interest and to shift its resources to markets that are much more rewarding in terms of investment and return."

Marchionne also said the decision on the location of the headquarters will depend on access to capital markets and the ability of the company to get financing at "reasonable rates."

"The U.S. capital market is more efficient than the Italian, and as a result the carmaker would probably get cheaper refinancing," said Sascha Gommel, an analyst with Commerzbank in Frankfurt, who expects Fiat to retain a listing in Milan.

>

>

Link to comment
https://www.neowin.net/forum/topic/1152748-fiat-may-move-hq-to-us/
Share on other sites
Veteran

Alwaysonacoffebreak

Posted
Posted

Why would anyone care? Okay maybe for the jobs, thumbs up for that but after that... meh. Their cars look like crap, they are crap and well basically no one would miss them if they suddenly disappeared from the market.

  • KingCracker
  • Like 1
Grand Master

Brian M. Veteran

Posted
  • Veteran
Posted

If they move here they probably wont have success, ugly cars are ugly.

Fiat/Alfa have made some of the prettiest cars ever!

Fiat Barchetta: http://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Fiat_Barchetta_?_Frontansicht%2C_3._Juni_2011%2C_W?lfrath.jpg/800px-Fiat_Barchetta_?_Frontansicht%2C_3._Juni_2011%2C_W?lfrath.jpg

Alfa Brera: http://upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Alfa_Romeo_Brera_S.jpg/800px-Alfa_Romeo_Brera_S.jpg

Alfa 8C: http://upload.wikimedia.org/wikipedia/commons/thumb/d/dc/AR8C-Competizione.jpg/800px-AR8C-Competizione.jpg

Veteran

Alwaysonacoffebreak

Posted
Posted

Alfa yes. Fiat, hell no. They have not a single nice looking one, not even that cabrio. But I guess it's more in the taste.

This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.

  • Posts

    • Dbrand thought they could get away with this Steam Machine case, Valve disagreed

      By PsYcHoKiLLa · Posted

      If Valve refused to let them make the case, I wonder if they've already partnered with someone else to do it? The fact that they didn't seek permission/licence before diving straight in is incredible though
    • Google pitches Spanner as one database for all AI agents with these new featues

      By Stup0t · Posted

      All your data's belong to us.
    • OpenClaw now has native mobile apps on iOS and Android

      By Karthik Mudaliar · Posted

      OpenClaw now has native mobile apps on iOS and Android by Karthik Mudaliar OpenClaw, the viral open-source personal AI agent, now has its own mobile app, available on both Android and iOS. Users can pair the app with an existing OpenClaw gateway and can start using new mobile-native features that are now available on the app. The app supports all the existing features you'd already have seen on OpenClaw's TUI, as well as some more, such as real-time and background Talk mode, action approvals, sharing from iOS, and optional access to device capabilities such as camera, screen, location, photos, contacts, calendar, and reminders. These features are available on both the Android and iOS versions of the app. What's important with these apps is that they don't run OpenClaw on your phone, but are actually just companion apps that require a running OpenClaw Gateway on an existing device, on macOS, Linux, or Windows via WSL2. To pair the app with your existing OpenClaw gateway, users need to run the command "/pair qr" on the TUI or existing chat interface, which brings up a QR code. Users can then scan this QR code to pair it up with the mobile app. There's also an option to manually pair the app by entering the host and a port. Previously, OpenClaw had been available on phones via WhatsApp, Telegram, Slack, Discord, Microsoft Teams, Matrix, and others. Now, with a native mobile app, the interface is much cleaner and more focused on just the OpenClaw, of course, with the added support for camera, screen, location, and more. It's important to note that OpenClaw comes with its own security warnings. There's always a chance of prompt injection with these tools, so users are recommended to double-check authentication, tool policy, sandboxing, and execution approvals rather than prompts alone. For users well-versed with the AI harness, a native mobile app makes it easier to approve an automation, share a link, use voice, or let an agent react to phone-side context.
    • Google pitches Spanner as one database for all AI agents with these new featues

      By Karthik Mudaliar · Posted

      Google pitches Spanner as one database for all AI agents with these new featues by Karthik Mudaliar Google Cloud is introducing new features within Spanner, its distributed database, as a place where enterprises should keep their data, using which AI agents could make smarter and better decisions. In a detailed blog post, Google highlighted quite a few features coming to Spanner, including relational data, graph relationships, vector search, key-value access, full-text search, and operational analytics together in one database architecture. Google says that today's systems aren't well-made for AI agents. There could be data that is present in one system, search indexes in another, embeddings in a vector database, and relationship data in a graph database. This fragmentation isn't great for AI agents to do their jobs because they don't have access to all of this data in one place. This is where Google is positioning Spanner as a solution. Spanner is already a globally distributed relational database with strong consistency, and Google wants its customers to see it as a broader data layer for AI applications. The company introduced something called Spanner Graph, along with integrated vector search, full-text search, a Cassandra-compatible key-value endpoint, and a columnar engine for analytical queries on operational data. Google also added that its ScaNN-powered vector search can support indexes with more than 10 billion vectors, while the columnar engine can make some analytical scans up to 200 times faster. All of this isn't just exclusive to the Google Cloud Platform, and there's support for multi-cloud as well. This comes via Spanner Omni, which Google says is a downloadable, containerized version of Spanner that can run on Kubernetes and in environments outside Google Cloud, including Microsoft Azure and AWS, and even on-premises infrastructure as well as edge deployments. Google says that customers who are interested in the full-featured edition should contact the company, and there's no word on commercial availability or separate pricing. Those interested can read the full blog by Google Cloud, which details these features individually.
    • Kalmuri 4.2.5

      By Copernic · Posted

      Kalmuri 4.2.5 by Razvan Serea Kalmuri is your all-in-one, portable screen capture and recording solution designed for speed, simplicity, and flexibility. Whether you need a full-screen snapshot, a custom area, a scrolling webpage, or smooth video recording, Kalmuri delivers with ease. Capture text instantly from images with built-in OCR, keep floating images on top for quick reference, and use the precise color picker for perfect design matching. Customize hotkeys to work your way and share results instantly with built-in upload options. Kalmuri runs without installation, making it ideal for USB use, and offers an intuitive interface that’s easy to learn. Kalmuri key features: Video recording support (designation of whole screen and area) Whole screen, active program, window control, area application Extract text from images using optical character recognition (OCR). Support for PNG, JPG, WEBP, BMP, GIF file formats MP4 video recording powered by FFmpeg for high-quality results Full web page capture Share the captured image on the web Color extraction function Printer output Hotkey settings Adjustable via keyboard for area capture (Arrow key, Ctrl+Arrow key, Shift+Arrow key) File name format (sequential, datetime) Free to use it at work, at home, in government offices, at school, etc. Using Kalmuri portable for video recording Kalmuri’s portable version doesn’t include FFmpeg, which is required for video recording. Without it, you’ll get an “error FFmpeg.exe not found” message. To fix this, download FFmpeg from the provided link, extract it, and place FFmpeg.exe in Kalmuri’s folder. Kalmuri will then recognize it automatically, allowing you to start recording in high quality instantly. Kalmuri 4.2.5 changelog: Fixed an intermittent crash when using Area Capture Improved stability for Area Capture and screen recording Resolved a capture issue that could occur right after startup Download: Kalmuri 4.2.5 | 24.2 MB (Freeware) Download: Kalmuri Portable 4.2.5 | 2.1 MB View: Kalmuri Website | Screenshot Get alerted to all of our Software updates on Twitter at @NeowinSoftware

  • Recent Achievements

    • First Post
      rosiecharles earned a badge
      First Post
    • Reacting Well
      Juan Dela earned a badge
      Reacting Well
    • Week One Done
      Collagen Project earned a badge
      Week One Done
    • Reacting Well
      Wakeen1966 earned a badge
      Reacting Well
    • Rookie
      Almohandis went up a rank
      Rookie

  • Popular Contributors

    1. 1
      +primortal
      516
    2. 2
      +Edouard
      273
    3. 3
      PsYcHoKiLLa
      143
    4. 4
      Steven P.
      98
    5. 5
      macoman
      54
    Show More

  • Tell a friend

    Love Neowin? Tell a friend!