jm25 Posted June 26, 2014 Share Posted June 26, 2014 Odd piece of news: http://rt.com/news/168632-fiat-fake-suicide-fired/ Link to comment Share on other sites More sharing options...
peter1234 Posted June 30, 2014 Share Posted June 30, 2014 Highlighting ongoing negotiations with Italian Unions http://www.bloomberg.com/news/2014-06-29/marchionne-seeks-italy-labor-peace-to-sell-luxury-shift.html Link to comment Share on other sites More sharing options...
Palantir Posted June 30, 2014 Share Posted June 30, 2014 FYI, Lionel Messi drives a Maserati.....as does Miley Cyrus (for those of you don't know she is a famous singer especially popular with the 12-17 female cohort). Valuable brand it is... Link to comment Share on other sites More sharing options...
merkhet Posted July 1, 2014 Share Posted July 1, 2014 Jeep Tops List of Most Patriotic Brands in U.S. http://blogs.wsj.com/cmo/2014/06/30/jeep-tops-list-of-most-patriotic-brands-in-u-s/?mod=e2fb Link to comment Share on other sites More sharing options...
Phaceliacapital Posted July 1, 2014 Share Posted July 1, 2014 Chrysler June U.S. sales Chrysler's (FIATY) unit sales +9.2% to 171K vs. the consensus estimate for a 5.9% increase. Jeep brand sales increased 28%. Ram pickup trucks sales rose 12%. The automaker recorded the impressive gains with two less selling days than a year ago. Link to comment Share on other sites More sharing options...
peter1234 Posted July 3, 2014 Share Posted July 3, 2014 The National Highway Traffic Safety Administration said on Wednesday that at Chrysler's current pace it would take nearly five years to fix all of the affected Jeep Grand Cherokee and Jeep Liberty SUVs involved in a recall announced last June. http://www.reuters.com/article/2014/07/02/us-autos-chrysler-jeep-idUSKBN0F725520140702 Maybe they can speed it up, do what GM does and upsell new Jeeps :) Link to comment Share on other sites More sharing options...
Grenville Posted July 3, 2014 Share Posted July 3, 2014 A letter from Sergio from June 18th to employees: http://www.fiatspa.com/en-US/FiatDocuments/message_to_all_FCA_employees_in_Italy.pdf Link to comment Share on other sites More sharing options...
fareastwarriors Posted July 3, 2014 Share Posted July 3, 2014 U.S. Regulators Order Chrysler to Explain Delay in Fixing Jeeps A Year After the Auto Maker Issued a Recall Over Jeep Fuel-Tank Fires, Not One Repaired http://online.wsj.com/articles/u-s-regulators-order-chrysler-to-explain-delay-in-fixing-jeeps-1404320838 Link to comment Share on other sites More sharing options...
txlaw Posted July 3, 2014 Share Posted July 3, 2014 F-4 filed: http://www.sec.gov/Archives/edgar/data/1605484/000119312514260113/d704286df4.htm Link to comment Share on other sites More sharing options...
ZenaidaMacroura Posted July 3, 2014 Share Posted July 3, 2014 A letter from Sergio from June 18th to employees: http://www.fiatspa.com/en-US/FiatDocuments/message_to_all_FCA_employees_in_Italy.pdf which incident did this refer to? Link to comment Share on other sites More sharing options...
ZenaidaMacroura Posted July 3, 2014 Share Posted July 3, 2014 F-4 filed: http://www.sec.gov/Archives/edgar/data/1605484/000119312514260113/d704286df4.htm I assume the ADR holders will also get the U.S. distributed shares? Are the Milan/ADR shares essentially "split" - like is this in essence a stock split where one of your shares is NYSE and the other remains an ADR/Milan exchange share? Link to comment Share on other sites More sharing options...
cubsfan Posted July 4, 2014 Share Posted July 4, 2014 A letter from Sergio from June 18th to employees: http://www.fiatspa.com/en-US/FiatDocuments/message_to_all_FCA_employees_in_Italy.pdf which incident did this refer to? Well, could be a few things: http://www.thelocal.it/20140625/fiat-workers-sacked-for-staging-ceos-fake-suicide http://www.carscoops.com/2014/06/fiat-chrysler-says-maserati-plant.html http://online.wsj.com/articles/fiat-chrysler-ceo-at-odds-again-with-workers-in-italy-1403204696 Link to comment Share on other sites More sharing options...
ZenaidaMacroura Posted July 4, 2014 Share Posted July 4, 2014 A letter from Sergio from June 18th to employees: http://www.fiatspa.com/en-US/FiatDocuments/message_to_all_FCA_employees_in_Italy.pdf which incident did this refer to? Well, could be a few things: http://www.thelocal.it/20140625/fiat-workers-sacked-for-staging-ceos-fake-suicide http://www.carscoops.com/2014/06/fiat-chrysler-says-maserati-plant.html http://online.wsj.com/articles/fiat-chrysler-ceo-at-odds-again-with-workers-in-italy-1403204696 The suicide inicident happened after the letter was written so I'm going to guess it was the Maser Strike... Thanks! Link to comment Share on other sites More sharing options...
peter1234 Posted July 4, 2014 Share Posted July 4, 2014 It was prompted by the Maserati 1 hour strike. It addresses long standing labor relations issues. He wants to ensure Italy can compete on a global scale in car making. Link to comment Share on other sites More sharing options...
karthikpm Posted July 4, 2014 Share Posted July 4, 2014 http://online.wsj.com/articles/fiat-chrysler-to-list-750-5-million-shares-on-the-nyse-1404411400 SEC filing noted.. can some explain what happens to FIATY shares ? Link to comment Share on other sites More sharing options...
LC Posted July 4, 2014 Author Share Posted July 4, 2014 I presume they are converted into a new share. I also believe they are eligible for legacy voting status as well, not sure what that counts for. Link to comment Share on other sites More sharing options...
simplefocus Posted July 4, 2014 Share Posted July 4, 2014 This is how I understand the conversion and I hope someone can confirm it. There are 2 types of shares, common and special voting, in the new company, FCA. For every Fiat share, you will be receiving 1 common share of FCA at ~$5 listing price. Under some conditions, such as voting on the merger on Aug 1, you will also receive 1 voting share for every Fiat share. That means, you should be receiving 2 shares, 1 common and 1 voting, for every Fiat share. My question is what will happen if you don't vote, do you not receive the 1 voting share? Link to comment Share on other sites More sharing options...
wachtwoord Posted July 5, 2014 Share Posted July 5, 2014 $5.03? Current market price is $10.53! I must be missing something because no-one will vote for this ... Link to comment Share on other sites More sharing options...
karthikpm Posted July 5, 2014 Share Posted July 5, 2014 After reading the SEC documents and Fiat Spa website, each current share will transfer to 1 of the new share class, however the legacy owners will have 2 votes for their share. Exxor has a 30% holding but under new structure will get 41.5% control of the company The Par value of the share is arbitrary and archaic. FIATY's current par value is 5.03 and will remain the same at the time of listing. Link to comment Share on other sites More sharing options...
wachtwoord Posted July 5, 2014 Share Posted July 5, 2014 After reading the SEC documents and Fiat Spa website, each current share will transfer to 1 of the new share class, however the legacy owners will have 2 votes for their share. Exxor has a 30% holding but under new structure will get 41.5% control of the company The Par value of the share is arbitrary and archaic. FIATY's current par value is 5.03 and will remain the same at the time of listing. Thank you, I didn't get that because usually that's always $0.01 or $0.001 or something. I still need time to read the SEC filing, but are they diluting shares? Link to comment Share on other sites More sharing options...
karthikpm Posted July 6, 2014 Share Posted July 6, 2014 There will be some dilution , but it seems that with their current borrowing structure, the equity markets in the US may be a "cheaper" way to finance their operations Link to comment Share on other sites More sharing options...
Sportgamma Posted July 6, 2014 Share Posted July 6, 2014 There will be some dilution , but it seems that with their current borrowing structure, the equity markets in the US may be a "cheaper" way to finance their operations Are you referring to FIAT selling its treasury shares? Link to comment Share on other sites More sharing options...
muscleman Posted July 6, 2014 Share Posted July 6, 2014 I presume they are converted into a new share. I also believe they are eligible for legacy voting status as well, not sure what that counts for. I wonder will there by any tax consequences for US holders? The filing said no, so if I sell one day after the listing, will my cost basis and purchase date be my old cost basis when I bought the ADR? Link to comment Share on other sites More sharing options...
wachtwoord Posted July 6, 2014 Share Posted July 6, 2014 I presume they are converted into a new share. I also believe they are eligible for legacy voting status as well, not sure what that counts for. I wonder will there by any tax consequences for US holders? The filing said no, so if I sell one day after the listing, will my cost basis and purchase date be my old cost basis when I bought the ADR? Will ADR holders also receive the additional voting? (EDIT: This is answered in http://www.fiatspa.com/en-US/media_center/FiatDocuments/2014/Luglio/Fiat_calls_the_General_Meeting_of_shareholders.pdf you do need to participate in the meeting to receive it but b proxy is ok and you need to hold the shares from the meeting up to the merger). How much dilution will there be (roughly)? Link to comment Share on other sites More sharing options...
Sportgamma Posted July 6, 2014 Share Posted July 6, 2014 My understanding is the following: There are 1,250,955,773 shares of FIAT group issued and outstanding. Of those, roughly 40 m are treasury shares (3.2%). Apparently, per the FT article, Marchionne has publicly stated that they are going to sell those shares because they "need to start creating liquidity in the US market." According to FactSet, the public float of fiat shares on the Italian stock exchange is 837.45 m shares, but if I understand the WSJ article correctly, public float of the new shares will be 750.5 m shares. On the Borsa Italia site, 59.2% of shares (~740 m) are held by owners of less than 2% of total outstanding. The average turnover of F.mi shares this year is about 1.4% per trading day. For Ford that is ~0.6%. I don´t see how an increase in public float by 5.4% has a positive impact that outweighs the (at least perceived by myself) loss of selling those shares at current prices. If the company needs cash, I think they should just call a spade a spade. Link to comment Share on other sites More sharing options...
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