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Fiat seeking $10B in financing to buy Chrysler

As Fiat looks to become the full owner of Chrysler, all it has standing in its way is the retiree trust of the United Auto Workers, which currently holds the remaining 41.5 percent of the company as the result of the Pentastar's bankruptcy deal. The Detroit News is reporting that that Fiat is currently talking to numerous banks in an attempt to raise around $10 billion to fund the purchase of Chrysler's remaining stake with enough left over to refinance the debt of both companies. We've known that Fiat has been working to obtain the capital to buy out Chrysler for some time now, but this is the first time we've seen Fiat tip its hand about how much cash it thinks it will need to close the deal.
The first order of business is a legal dispute over the value of the UAW's stake in Chrysler, which the report indicates could cost Fiat around $3.5 billion. The acquisition of remaining shares could happen by this summer, but it sounds like CEO Sergio Marchionne (above) might not be ready for a full merger until next year.

Woman throws coffee at man over handicapped parking spot

A Toronto area busybody started a decidedly un-Canadian altercation over a woman illegally parking in a handicapped parking spot this week. He now regrets his decision to film it. On March 21, Ryan Favro confronted a young woman outside the Tim Hortons in Toronto as she approached her jeep with two cups of iced coffee. The situation quickly escalated, and ended with the woman hurling obscenities and both of her coffees at Favro before driving off. Favro quickly uploaded his video to Facebook where it quickly became viral, garnering more than a million views and spreading as far as New Zealand. Toronto Police caught wind of the video, which clearly shows the woman's face and the license plates of her Jeep, and issued her a warning. "We've cautioned her for assault and parking in a disabled spot, which is really what we can do under the circumstances," said Toronto Police spokesman Mark Pugash. Favro changed his mind about the public shaming by mid-week and, in a futile attempt to put the genie back in the bottle, he removed the video from his Facebook page. "I don't want to grind this woman into the ground," he said. "There has to be a way for her to recover." His attempt to walk back his video and make the situation go away have not been particularly successful, however. Although he took the original video down, it has been copied and posted so often by now that it has become impossible to completely erase it. His attempts to do so, and his post about it on Facebook, have received some mixed feedback. "If the guy was feeling remorse for publishing it [the video], perhaps he should not have posted it online and just go to police," said Facebook user Laura Dixon. Repeated requests by the Toronto Star to interview Favro have gone unanswered News Source: TheStar.com Chrysler Jeep SUV Off-Road Vehicles Videos parking toronto coffee parking lot handicapped parking

Dodge revamping lineup with AWD Challenger and lighter Charger

Dodge's current lineup is aging rapidly. The Charger, for example, is going on 5 years old but its platform dates back to 2006. FCA, according to Automotive News, is working on revitalizing Dodge's lineup with the first of some new models debuting later this year. The report reveals plans for the majority of FCA's brands, but the most interesting bit of information is an all-wheel-drive model for the Dodge Challenger, which is being referred to as the GT AWD. Mopar unveiled the Challenger GT AWD Concept at SEMA last year as a concept, but it looks like the idea stuck. The vehicle is set to make its debut this fall and will lead the way for a wide-body, Hellcat-powered version that will be released in 2017. That model will be called the Challenger ADR. The entire Challenger lineup will be redesigned in 2018, which includes switching over to the lighter Giorgio platform - the same one that underpins the Alfa Romeo Guilia Dodge will also redesign the Charger to accommodate the new Giorgio platform in 2018. A new two-door convertible could debut in 2021, resurrecting the Barracuda moniker. The aging Dodge Durango will get a light refresh in 2017 with the addition of an SRT model, which Automotive News reports will feature a 6.4-liter V8 engine. Other changes are in store for other FCA brands, including the debut of full-size crossover in 2018 for Chrysler, which will be followed by a midsize crossover in 2019. The Jeep Compass and Wrangler will get a redesign for 2017, with the Cherokee getting a light makeover, as well. The Wrangler-based pickup truck, which we recently spotted testing, is set for its debut in 2018, while the Wagoneer will come out a year later. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.