Word: fiat
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Ashley’s target told me that he liked her and that he was the heir to the Fiat car empire. Because VIP is a posh nightclub and this guy had a Ray Charles look-a-like by his side, I believed him. In between dancing with some other friends, Arnaud Poulain (the French guy) told me that he wanted to buy a bottle of champagne. After a mediocre attempt on my part to dissuade Ashley from ordering Cristal, she told the waiter her selection. While the sparklers in the Cristal cork were going off, Arnaud gave...
Schumacher's dominance is in part about the man, in part about the machine. The Ferraris he drives are the fastest, most reliable cars on the circuit. Ferrari, owned by Fiat, has deep pockets, spending $450 million on its racing team this year, compared with $35 million for Minardi, one of the smaller teams. And Schumacher has perhaps the fastest reaction time of any F1 driver. He began developing his skills early, racing go-carts when he was 4 and becoming German national junior champion at 15. When Eddie Jordan, head of the Jordan racing team, offered Schumacher a chance...
Elkann has been telling friends that he will learn on the job from Montezemolo. The succession shuffle comes at a difficult time at Fiat, which has lost $7.5 billion in the past two years. The Agnellis control diverse assets, but the prize--and the site of the problems--is Fiat, 30% of which the family owns. Morchio had put in place a tough turnaround plan designed to rescue the automaker. The fourth CEO in two years, Morchio was negotiating with General Motors over an option to sell Fiat to GM that was signed...
Elkann, known as Jaki, was singled out as a possible successor by his grandfather, who put him on Fiat's board in 1997. So far he has deliberately kept out of the spotlight. Lapo, 27, who works in Fiat's marketing department, frequently appears in the gossip columns, not least because he's dating a TV starlet. Andrea currently works for Philip Morris. Family members say all three will play leadership roles. The question is, How successfully can the Agnellis manage the troubled empire while the youngsters are learning the ropes...
...FIAT FAMILY: Three cousins rise in a succession fight...