Word: fiat
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Sergio Marchionne, the gifted executive who saved Italy's Fiat Group from a destructive meltdown earlier in the decade and then convinced the Obama Administration that he could revive the bankrupt Chrysler Group LLC, tried on Wednesday to dispel speculation that the struggling automaker was beyond help. "We want Chrysler to become a strong public company," said Marchionne, who was dressed in his trademark professorial sweater, as he opened an elaborate presentation of the struggling automaker's business plans for the next five years, which emphasize blending Fiat's small-car and small engines technology with Chrysler's muscular Jeeps...
...incredibly cheap. We're working at conserving cash," he said. Scott Garberding, the head of manufacturing, added that the goal is to cut operating costs by 8% and boost productivity by 10%. "We're eliminating every form of waste," he said. Chrysler also plans to share more suppliers with Fiat. "It allows us to create joint savings," said Garberding...
...Alessandro has also had to sort out some tricky governance issues. The company's experience with nonfamily management hasn't been an unmitigated success. The first outside managing director, who came from automaker Fiat, served just three years before leaving, together with the chief financial officer, in 2006. A new CFO brought in from Burberry lasted just 21 months. As well as putting together a new management team, Alessandro has also sought to delineate more clearly the roles played by the family and by management. The new managing director, Gerolamo Caccia Dominioni, comes from Warner Music, while the current...
...roommates of the rodent-loving student, however, were not as enthusiastic to find permanent crashers on their bookshelf. “They just came in. It was kind of [by] fiat, they just kind of brought them in, ” said one roommate...
...heirs of Che Guevara discarding their democratic credentials for authoritarian fiat? Are they going Cuban in response to economic difficulties that could loosen their holds on power? The left hardly owns the market on intimidating the press in Latin America today, as evidenced by media-averse conservatives like Colombian President Alvaro Uribe and the Honduran coup leaders who ousted President Manuel Zelaya this summer. But "President Chávez and his bloc of allies all want to consolidate power, neutralize any opposition and remain in office beyond their elected terms," says Robert Rivard, editor of the San Antonio Express-News...