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Chrysler stays IPO until 2014

There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Not surprisingly, the issue with the Chrysler IPO is the same as it's always been - a disagreement between parent company Fiat, which owns 58.5 percent of the Chrysler Group and a UAW healthcare trust, which owns 41.5 percent. Fiat wants to buy out the UAW VEBA healthcare trust, which is responsible for shouldering retiree healthcare costs, but the two sides are hung up on an actual price tag for the remaining two-fifths of the company.
The original idea saw an IPO as a way of setting a fair market price for the remaining shares, although it's not entirely clear what broke down and led to a delay of the IPO plan. As Forbes points out, by waiting until 2014, Chrysler could be risking a cool-off in the IPO market, which could mean less money in its pocket when the automaker finally goes public.

North Carolina driver charged for flattening Trump sign

Police in Wilmington, NC are investigating a viral video that shows a local man driving off the road to run over a Trump for President campaign sign. Julien Schuessler of Wilmington posted a video to Facebook on March 15 showing him driving his white Jeep off the road in a reckless manner to smash a Trump sign. He captioned the video, "I love having a Jeep sometimes." The video immediately went viral, reaching nearly a million views and 25,000 shares in less than twenty-four hours. Any elation Schuessler may have felt at having his video go viral was short lived, though. According to WWAY, Wilmington Police were tipped off to the existence of the video on the afternoon of March 16. They were, understandably, less than pleased. In an official tweet, WPD stated that they were aware of the video and were investigating. A spokesperson for the WPD stated that Schuessler faces multiple charges for his little stunt, including hit and run, reckless driving, and failure to maintain lane control. WWAY reached out to Schuessler for comment, but he has declined to respond. News Source: wwaytv3 Government/Legal Weird Car News Chrysler Jeep Driving Safety SUV Off-Road Vehicles Police/Emergency Trump north carolina hit and run vandalism wrangler

VW walks away from Aurora after self-driving startup partners with FCA

BERLIN — Volkswagen has ended its partnership with self-driving car software firm Aurora, two days after the Silicon Valley start-up said it would build autonomous platforms for commercial vehicles with Fiat Chrysler Automobiles. "The activities under our partnership have been concluded," a VW spokesman said in a statement on Tuesday following an earlier Financial Times report on the move which said VW now wanted to work with Ford Motor Co on autonomous driving. Ford's majority-owned subsidiary Argo AI is building an automated "driver" that could compete with Aurora's technology. Aurora said Tuesday "Volkswagen Group has been a wonderful partner to Aurora since the early days of development of the Aurora Driver." The company's statement added that it continues to work "with a growing array of partners." The autonomous vehicle industry is still in its infancy, and alliances and strategies are fluid. Aurora has sought to remain independent and serve a number of would-be autonomous vehicle makers rather than be acquired. Aurora, which said in February it had raised $530 million in new funding, also has partnerships with Hyundai Motor Co and China's Byton to develop and test self-driving systems for automakers, fleet owners and others. After announcing its partnership with Aurora in early 2018, VW last June began discussions with Ford to develop a range of commercial vehicles, later extending the discussions to include electric vehicles and Argo's autonomous driving technology as part of an alliance designed to save billions in costs. VW and Ford have not announced partnerships involving electric or autonomous vehicle technology. Green Chrysler Fiat Ford Volkswagen Technology Emerging Technologies Autonomous Vehicles