1958 Chrysler Imperial on 2040-cars

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Pair of 1970 Plymouth Superbird barn finds hits eBay

Here are a couple noteworthy barn finds for sale right now on eBay: a pair of 1970 Plymouth Superbird muscle cars, found with their giant rear wings, retractable headlights and 440 Super Commando V8s apparently perfectly intact after being stored for decades in a garage in Maine, with their condition reportedly "very good for 40 years of dry storage." In his lengthy writeup, the seller notes the short-lived, modified Road Runner is "One of the most collectible muscle cars with one of the most incredible automotive Aerodynamic (sic) designs in automotive history." The Superbird, which saw only one production year, is approaching its 50th anniversary, with their values expected to soar, he notes. The seller explains that he learned about the Superbirds after he purchased his own blue Superbird from the Owls Head Transportation Museum auction in Maine in August for $187,000. "Just after I won the blue 1970 Super Bird with white bucket seat interior a man approached me and sat down next to me and stated he has 2 Super Birds in storage that he has owned for the last 40 years," he wrote on his listing. "He told me he purchased them from the original owners." One was B5 blue with white bucket seats, just like the one he'd just purchased. The other was Alpine White with black bucket seats. According to the back story, both cars were originally sold off the lot in 1970 at Blouin Chrysler Plymouth Dodge in Augusta, Maine, and the man who'd been keeping them in his garage said he knew both of the original owners, having purchased both cars from them around 1978. The man, who is reportedly a Mopar expert, kept them both registered until 1985 and 1987, with the registration stickers still intact on the windshields, then prepared both for storage, putting straight antifreeze in the motors and filling the cylinders with lubricating oil. Both cars are currently being stored in a garage in Massachusetts. The Alpine White Superbird has 42,497 miles on it. The highest of 84 bids as of this writing was $135,000. The blue version has just 27,416 miles on the odometer, with the highest of 93 bids at $151,100. Both were updated with Pioneer cassette decks that the seller says "are classics in themselves." The seller also notes he hasn't tried to get either car started but that both motors turn freely and that the head and taillights all work. Bidding ends Sept. 27.

Fiat Chrysler's London offices will be small, with financial focus

Fiat Chrysler's decision to locate its new corporate headquarters in jolly old London won't herald a sprawling relocation effort. Instead, it's very likely that the FCA outfit will be a small one, primarily focused on finance.
The report comes from Automotive News Europe, which claims FCA's London office will employ about 50 people with backgrounds in finance. CEO Sergio Marchionne and Fiat Group Chairman John Elkann will both have offices at the corporate headquarters, as well.
ANE cites an anonymous source that claims the people employed at the London office will focus primarily on treasury operations. It's unlikely that FCA will take on any additional employees specifically for its UK offices. That said, FCA isn't likely to downsize either its Turin or Auburn Hills offices once London comes online.

As it did with Ferrari, Fiat Chrysler spinning off Magneti Marelli

MILAN — Fiat Chrysler said on Thursday its board had tasked management to proceed with spinning off Magneti Marelli and distributing shares in a new holding for the 99-year old parts business to FCA investors. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli, which sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid, and which analysts say could be worth between 3.6 and 5 billion euros ($4.4-6.1 billion). "The separation will deliver value to FCA shareholders, while providing the operational flexibility necessary for Magneti Marelli's strategic growth in the coming years," Marchionne said in a statement. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics, and its spinoff is part of a five-year business plan FCA is due to present on June 1. "The spinoff will also allow FCA to further focus on its core portfolio while at the same time improving its capital position," Marchionne added. Marchionne has a long history of such moves. The 65-year-old was behind the spinoff and listing of trucks and tractor maker CNH Industrial and supercar brand Ferrari. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, with shares in the company expected to be listed on the Milan stock exchange. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family - FCA's main shareholder - were put off by low industry valuations and did not want their stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters last month. Magneti Marelli has often been touted as a takeover target and FCA has fielded interest from various rivals and private equity firms over the years. South Korea's Samsung Electronics made a bid approach in 2016 but negotiations fell through as it was only interested in parts of the business, other sources have said. The spinoff is subject to regulatory approvals, tax and legal considerations and a final approval by the FCA board. The carmaker may modify or call off the transaction at any time and for any reason, it added.