Word: auto
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...chairman Luca di Montezemolo and CEO Sergio Marchionne are still largely in charge. The Fiat Group, which counts CNH tractors and Iveco trucks among its holdings, has been buoyed recently by strong numbers from its once suffering automobile division. Under the turnaround leadership of Marchionne, European sales of the auto group (which includes the Fiat, Lancia and Alfa Romeo brands) jumped 23.2% in the first five months of this year, representing nearly half of the overall company's revenues. With Fiat rolling toward recovery--and his increasingly central role in the holding company's day-to-day management...
...host of other reasons, the way it drives and how it looks." But with fuel prices at historic highs, all that may be about to change. ceo Heilmaier says 10,000 people have signaled interest in buying a Loremo since March, when a model was shown at the Geneva auto show. That's not bad for a car that hasn't even been driven yet. The first drivable prototype is to be built this year, and Sommer expects to go into production of the first 5,000 to 10,000 cars in 2009 and ramp...
...Engine? An ailing carmaker seeks change Auto-biz turnaround whiz Carlos Ghosn, CEO of Renault and Nissan, visits Detroit this week to discuss an alliance with struggling General Motors, whose shareholders are agitating for reform--and a higher stock price...
DIED. RYUTARO HASHIMOTO, 68, controversial former Prime Minister of Japan; of multiple organ failure; in Tokyo. A short-tempered politician and dapper dresser, Hashimoto achieved international fame as Trade Minister in 1995, when he feuded with Washington in an auto-sales dispute. As Prime Minister from January 1996 to July 1998, he launched financial reforms modeled on London's "Big Bang" deregulation and defused a crisis over U.S. bases in Okinawa. An expert swordsman, he quit politics last year after a scandal involving donations to his party...
...DIED. Ryutaro Hashimoto, 68, controversial former Prime Minister of Japan; of multiple organ failure; in Tokyo. A short-tempered politician and dapper dresser, Hashimoto achieved international fame as Trade Minister in 1995, when he feuded with Washington in an auto-sales dispute. As Prime Minister from January 1996 to July 1998, he launched financial reforms modeled on London's "Big Bang" deregulation and defused a crisis over U.S. bases in Okinawa. An expert swordsman, he quit politics last year after a scandal involving donations to his party...