July 25, 2011 |
MILAN - Fiat Industrial, the Italian maker of trucks, farm and construction vehicles, has raised its 2011 forecasts after second-quarter profits soared 78 percent on higher sales volumes across all sectors. Fiat Industrial SpA posted a second-quarter net profit of (euro) 212 million ($304.86 million), compared with (euro) 119 million a year earlier. Fiat Industrial shares rose 3.3 percent to (euro) 9.28 in Milan trading Monday after the results were released. The company says it now expects revenues of (euro)
May 31, 2011 |
TORONTO - The chief executive officer of Chrysler and Fiat said Monday that he and Canadian authorities have begun talking about buying Canada's 1.7 percent ownership in Chrysler. The Canadian federal government and provincial Ontario government received 1.7 percent of Chrysler two years ago as part of a bailout that also provided $1.7 billion in loans to help the Detroit company survive. Chrysler Group L.L.C., already controlled by Fiat S.p.A., recently paid back the last of the money it borrowed from the Canadian and U.S. governments.
November 8, 2010 |
Second of three parts The sign hanging outside on Baltimore Pike still said Weathers Dodge, but inside, a new business was forming, by necessity, if not design: Weathers Motors. It was June 10, 2009, the morning after bankrupt Michigan automaker Chrysler eliminated 789 dealers across the nation to cut its cost structure and recharge under new Italian management. Larry Weathers Jr. and his son Larry III awoke somewhat relieved, even though midnight had marked the loss of their 78-year-old family Dodge franchise.
March 28, 2010 |
"Consumers are exhaling after the enormous loss of wealth from the recession. The intensive retrenchment that they were doing during the recession has ended. " - Citigroup's chief U.S. economist Robert DiClemente "If you're fraudulent, you deserve to be punished. " - jury foreman Hank Pierotti, after his federal jury said Pfizer Inc. must pay $142.1 million for racketeering fraud in the marketing of epilepsy drug Neurontin "I hope that financial markets will now act on fact and not on fiction.
April 2, 2009 |
For Italians, Fiat is an acronym for Fabbrica Italiana Automobili Torino. For many of us who owned Fiats during the automaker's last presence in this country, the acronym stood for Fix It Again, Tony. I know, the company that Chrysler may team up with is now the largest vehicle manufacturer in Italy, and it builds good machinery. But that wasn't the case the last time around. While some American motorists may have had decent luck with the fragile Fiats, most of us didn't, and it was that poor quality that eventually pushed the company out of this market in 1984.
July 8, 2008 |
MILAN, Italy - Fiat, Italy's largest automaker, plans to lay off workers at four of its six Italian plants for three one-week periods later this year due to the contracting automobile market. Unions were notified yesterday that Fiat would lay off mostly white-collar workers for one week a month from September-November at the Mirafiori, Melfi, Pomigliano and Termini Imerese plants. Production of models including Fiat's top-selling Grande Punto, the Lancia Ypsilon and Fiat Chroma will be affected by the slowdown.
July 29, 2005 |
IN MY next life, I plan to come back as a member of the Pennsylvania General Assembly. I know what you're thinking. Who wouldn't want a job where you can set your own salary by legislative fiat? But that's not it. Lawmakers in any state can do that. Anybody who can move millions with a pen stroke eventually will move a few dollars into his or her own pocket. For all we know, Pennsylvania lawmakers may deserve a pay raise. Most of us don't know enough about what goes on in Harrisburg to say whether they're worth even the gas money we spend to send them there.
August 3, 2002 |
A group of U.S. investors is buying Fiat's Teksid Aluminum unit, an international fabricator of aluminum components for cars. The buyout was led by Questor Management Co., and the $454 million deal was put together by Questor's Philadelphia-based chief operating officer, Robert E. Shields, a former senior partner at the city law firm Drinker, Biddle & Reath. Questor, which has other automotive operations, will own the majority of the equity, Shields said. JPMorgan Partners, the private equity arm of J.P. Morgan Chase & Co., is one of the other members of the group.
June 18, 2000 |
Question: I have a question that's been bothering me. Some years back (20 or more), a friend bought a new car that had the spare tire mounted on top of the engine. I can't remember what make the car was. Can you set me straight? Answer: Fiat exported a subcompact sedan to this country in the '70s that had the spare mounted under the hood near the engine, but not right on top of it. Exposing the spare tire to all that engine heat wasn't a great idea, but then this wasn't a great car. As a matter of fact, it was an awful car. It resurfaced during the '80s with a different body and name - the Yugo - and bedeviled a whole new generation of drivers.
November 7, 1998 |
A red Fiat packed with explosives blew up yesterday in front of a market teeming with Israelis shopping for the weekend. Only the two occupants, believed to be Palestinians, were killed, and injuries to 21 bystanders were modest. But the bombing could nonetheless be a devastating blow to the fragile peace accord struck two weeks ago at the Wye River summit. The explosion took place about 10 a.m. as Prime Minister Benjamin Netanyahu's cabinet was meeting less than a mile away to approve the pact.