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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

Labor Day: A look back at the largest UAW strikes in history

American made is almost an anachronism now, but good manufacturing jobs drove America's post-war economic golden age. Fifty years ago, if you held a job on a line, you were most likely a member of a union. And no union was more powerful than the United Auto Workers. Before the slow decline in membership started in the 1970s, the UAW had over 1.5 million members and represented workers from the insurance industry to aerospace and defense. The UAW isn't the powerhouse it once was. Today, just fewer than 400,000 workers hold membership in the UAW. Unions are sometimes blamed for the decline of American manufacturing, as companies have spent the last 30 years outsourcing their needs to countries with cheap labor and fewer requirements for the health and safety of their workers. Unions formed out of a desire to protect workers from dangerous conditions and abject poverty once their physical abilities were used up on the line; woes that manufacturers now outsource to poorer countries, along with the jobs. Striking was the workers' way of demanding humane treatment and a seat at the table with management. Most strikes are and were local affairs, affecting one or two plants and lasting a few days. But some strikes took thousands of workers off the line for months. Some were large enough to change the landscape of America. 1. 1936-1937 Flint Sit-Down Strike In 1936, just a year after the UAW formed and the same year they held their first convention, the union moved to organize workers within a major manufacturer. For extra oomph, they went after the largest in the world – General Motors. UAW Local 174 president Walter Reuther focused on two huge production facilities – one in Flint and one in Cleveland, where GM made all the parts for Buick, Pontiac, Oldsmobile and Chevrolet. Conditions in these plants were hellish. Workers weren't allowed bathroom breaks and often soiled themselves while standing at their stations. Workers were pushed to the limit on 12-14 hour shifts, six days a week. The production speed was nearly impossibly fast and debilitating injuries were common. In July 1936, temperatures inside the Flint plants reached over 100 degrees, yet managers refused to slow the line. Heat exhaustion killed hundreds of workers. Their families could expect no compensation for their deaths. When two brothers were fired in Cleveland when management discovered they were part of the union, a wildcat strike broke out.

How Renault, Fiat Chrysler, and yes, Nissan, could save through sharing

If French automaker Renault green-lights a proposed merger with Fiat Chrysler Automobiles, the companies almost immediately could begin saving money by consolidating components and basic structures on many of their most popular vehicles, an industry analyst said on Tuesday. The synergies could multiply if they invite Japanese automaker Nissan, currently Renault's alliance partner, to join the merger, according to a former Renault and Nissan executive. Renault and Italian-American rival Fiat Chrysler Automobiles are in talks to tackle the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker. A Renault-Fiat Chrysler combination "would mean a greater sharing of parts (which) could really boost the profitability of Fiat Chrysler's smaller vehicles," said Sam Fiorani, vice president, AutoForecast Solutions. Building similar models on a common vehicle architecture, Fiorani said, "would give both companies a lot more freedom in manufacturing. They could mix brands and vehicle sizes on the same assembly line, switch vehicles between plants to balance production, and even shift production from one country to another, depending on changes in demand, tariffs or other considerations." Fiorani said Fiat Chrysler could benefit from sharing the French automaker's expertise in electric vehicles and powertrains, where Renault and Nissan have jointly invested more than $5 billion. These are areas in which Fiat Chrysler has little in the way of components or intellectual property. Another sector that is ripe for consolidation is light commercial vehicles, where Renault and Fiat Chrysler could build a variety of vans in several sizes on common platforms that could be assembled and sold in global markets. Ford Motor Co and Volkswagen AG began their alliance discussions a year ago by focusing on potential collaboration in light commercial vehicles. Getting Nissan's blessing Fiorani said Renault's CMF architecture, which was jointly developed with Nissan and underpins many of Renault's passenger cars and crossovers, could be used by Fiat Chrysler on a wide variety of vehicles. As an example, he said the CMF could provide a new single foundation for at least five Jeep models, including the Renegade, Compass and Cherokee, which now are based on four different platforms.