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Strains between France and Italy risk Renault-FCA merger

PARIS/ROME — Fiat Chrysler's proposed $35 billion merger with Renault has cheered investors, won conditional support from Paris and Rome and even earned cautious backing from trade unions. Beneath this veneer, however, the bold attempt to create the world's third-largest carmaker risks becoming rapidly embroiled in the fraught relationship between France's europhile President Emmanuel Macron and Italy's euroskeptic leaders. For while Deputy Prime Minister Matteo Salvini hailed the proposal as a "brilliant operation," Italy's creaking, state-subsidized Fiat factories are likely to bear the brunt of any production-related cost savings. FCA and Renault said this week that more than 5 billion euros ($5.6 billion) of annual savings would come mainly from combining platforms, consolidating powertrain and electrification investments and the benefits of increased scale. Salvini and France's Finance Minister Bruno Le Maire, who called the deal a "good opportunity" to build a European industrial champion able to compete with China and the United States, have both said they want guarantees on local jobs. "It's not every day that I agree with Salvini," said Le Maire, whose government appears to hold the trump cards. When it comes to where any job cuts fall, France will be helped by its existing 15 percent holding in Renault, whose superior efficiency at its five French plants makes it better placed to handle a supply glut, the demise of the petrol engine and the investments needed for electric and autonomous vehicles. "It will take many, many years to find real savings, and ugly political and operational realities can often swamp the potential of such new entities," Bernstein analyst Max Warburton said of the FCA-Renault plan to rival Japan's Toyota and Germany's Volkswagen. Advantage France? As well as Italy's government having to cope with the aftermath of European elections, which coincided with news of the FCA-Renault plans, political leaders in Rome were only informed shortly before the deal was made public, an FCA source said. This contrasted with the way the French government was treated, with Fiat Chrysler Chairman John Elkann, a fluent French speaker, letting it know of his merger proposal to Renault weeks ago, a French government official said.

A Chrysler LeBaron Town & Country with 12,000 miles is up for auction

A hundred years ago, the LeBaron name was among America's top luxury nameplates, so when we heard that auction house R.M. Sotheby's was auctioning one off, we immediately thought of one of the coachbuilt Imperial-branded classics that competed with the highest-order Gatsby-era Cadillacs and Lincolns. What we found instead, however, was arguably even better. It's a 1985 Chrysler LeBaron Town and Country convertible, the one most of us know from when "Back to the Future" was still in theaters, complete with faux wood paneling. This has strong nostalgic value, especially as one of my best grade-school friends' mom had one, and I always felt like a celebrity to get picked up from school with the top down. While the LeBaron name may have fallen from grace by then, becoming the entry-level Chrysler offering, the T&C droptop was the most glamorous of the midsize K-cars. Did the Plymouth Reliant or Dodge Aries have acres of plastic timber applique on their flanks and four words (five if you count "Le" as its own) in their model names? Hell no. It may have been powered by a 2.6-liter Mitsubishi Astron engine, but the front-driver was pure Americana. K-cars were as common in the 1980s as RAV4s are today, and the K platform was largely responsible for saving Chrysler from bankruptcy. Nothing from Ford, GM, Germany or Japan came close, then-CEO Lee Iacocca said, and, "If you can find a better car, buy it!" he would threaten. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Beyond that, the LeBaron was the steed that carried Neal Page and Del Griffith cross-country in time for Thanksgiving dinner in Planes, Trains and Automobiles. Esteemed LeBaron T&C owners counted Iacocca himself, Frank Sinatra (a wagon, even!), and if George Costanza is to be believed, Jon Voight. For a car that sold over 2 million examples, the "wood"-sided Town and Country convertible variant was rare. Chrysler made only 1,105 of them, and this particular example has a claimed 12,345 miles on the clock. The color is gold, Jerry, gold! And given what we known in hindsight about their build quality, you're not likely to find a better one. According to its CarFax report, the LeBaron was purchased new in Vermont, where it resided until 2004 when it was sold to a new owner in West Virginia. Five years later, it made its way to a dealer in Utah.

What will Detroit do with the abandoned AMC headquarters?

As with so many other industrial and residential properties in Detroit, the former headquarters for the American Motors Corporation is having a hard time finding a reputable buyer. In October the Wayne County Treasurer held a tax foreclosure auction of 25,000 properties that included the AMC building, the starting bid being $500. Nicholas Casab won the building for $500, but the county voided the sale when Casab didn't pay the $232,000 in back property taxes. Detroit authorities haven't commented on the failed sale, but the city has until January 4 to decide if it wants to keep the building. If it doesn't want to hold onto it, the 1.5-million-square-foot property on 57 acres might be ceded to the Wayne County Land Bank Corporation. No matter who holds the deed come January 5, all anyone really wants is for someone to take possession of the building who will actually turn it into something useful and viable. The property opened in 1927 as a factory for the Kelvinator Corporation. Over the following decades, Kelvinator merged with the Nash Motor Company, and that merged entity merged with Hudson Motor Car Co, becoming American Motors. Chrysler took over the building in 1987 when it bought AMC, then shuttered it in 2009. The complex has produced refrigerators, Sikorsky helicopters, Jeeps, AMCs, and was used as an engineering center for Jeeps and other Chrysler products. Having been through several hands in the past six years, it is cited as part of the cycle of abandonment plaguing Detroit. Related Video: News Source: Detroit Free Press Government/Legal Chrysler Jeep Auctions Detroit amc