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Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

Mopar-modified Chrysler 200 reappears in Chicago

Chrysler made what was one of the biggest debuts of the 2014 North American International Auto Show last month when it debuted the heavily redesigned 200. While impressive on its own, the sleek sedan's Mopar counterpart, which was tucked away in a corner during the Detroit show, adds even more visual flair.
Based on the Chrysler 200S, the showcar had already benefitted from Lunar White Tricoat paint and meaty, 19-inch wheels (now in Satin Lite Bronze finish). White leather seats with bronze stitching accented the cabin treatment.
For Chicago, Chrysler added a Mopar body kit and new upper and lower grilles, both of which give the four-door a considerably more menacing look. The rear fascia is set off by a new bumper and a revised set of exhaust tips. The cabin is unchanged from the Detroit car.

NHTSA investigating Harman Kardon for software vulnerabilities

The National Highway Traffic Safety Administration is investigating infotainment units from Harman Kardon, which produces FCA's Uconnect, to determine if Harman Kardon systems used by other companies are also vulnerable to hackings. Researchers discovered a hole in the cellular connection to the Uconnect infotainment in a Jeep Cherokee. They were able to exploit it to gain access to the vehicle's brakes, radio, and other systems. In the wake of the hack, FCA pledged to send out 1.4 million USB drives to update the software. Politicians also attacked the automaker for not reporting the problem sooner, and NHTSA opened an investigation to find whether the fix worked. INVESTIGATION Subject : Software security vulnerability Date Investigation Opened: JUL 29, 2015 Date Investigation Closed: Open NHTSA Action Number: EQ15005 Component(s): EQUIPMENT All Products Associated with this Investigation Equipment Brand Name Part No. or Model No.Production Dates HARMAN KARDON R3R4 - Details Manufacturer: HARMAN INTERNATIONAL SUMMARY: On July 23, 2015, Fiat Chrysler Automobiles (FCA) submitted a safety recall report to NHTSA concerning a software security defect condition in approximately 1.4 million model year (MY) 2013 through 2015 vehicles equipped with Uconnect 8.4A (RA3) and 8.4AN (RA4) radios manufactured by Harman Kardon (Recall 15V-461). According to FCA, software security vulnerabilities in the recalled vehicles could allow unauthorized third-party access to, and manipulation of, networked vehicle control systems. Unauthorized access or manipulation of the vehicle control systems could reduce the driver?s control of the vehicle increasing the risk of a crash with an attendant increased risk of injury to the driver, other vehicle occupants, and other vehicles and their occupants within proximity to the affected vehicle. This EQ is being opened to obtain information from the supplier of Chrysler Uconnect units to determine the nature and extent of similarities in other infotainment products provided to other vehicle manufacturers. If sufficient similarities exist, the investigation will examine if there is cause for concern that security issues exist in other Harman Kardon products. Related Video: