1989 Ferrari 328 Gts: Excellent Condition, Collector's Car, Low Mileage. on 2040-cars

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Former Ferrari chief Montezemolo to be chairman of Alitalia

Luca di Montezemolo may be 67 years old, but he's not quite ready to retire just yet. Not, at least, if the latest reports emanating from Italy are to be believed. According to Reuters, the longtime former Ferrari chief is due to be named chairman of Alitalia.
The troubled Italian airline is on the verge of being bailed out after years of financial difficulty, with Etihad Airways of the United Arab Emirates set to take a 49-percent stake in the company. While the reports have yet to be confirmed by the parties involved, Reuters cites multiple inside sources in revealing that the airline's board met last week and agreed to appoint Montezemolo as chairman, with current Etihad chief James Hogan to act as chief executive officer.
Montezemolo, of course, long served as chairman of Ferrari, having assumed leadership of the company not long after founder Enzo Ferrari died. He also served as chairman of the Fiat group for several years after the passing of Umberto Agnelli, and has headed numerous trade organizations and sporting bodies. But his tenure at Ferrari and the broader Fiat Chrysler Automobiles empire came to an end two months ago when clashes with Fiat chief Sergio Marchionne saw Montezemolo step down.

FCA likely won't sell more than 10% of Ferrari stake

The initial public offering of Ferrari on the stock market is likely coming in the second or third quarter of this year, but apparently the exact stake of the Prancing Horse set to hit the exchange isn't final. When FCA first announced the plan to spin off Ferrari, the idea was for 10 percent of the stock to go on the open market in the US and maybe also in Europe. Another 10 percent would go to company vice chairman and Enzo's son Piero Ferrari, and the remaining 80 percent would be divided among current shareholders, including a large portion for the Agnelli family. FCA CEO Sergio Marchionne hasn't finished tweaking those numbers, though. Last month, he indicated the automaker might put more than 10 percent of Ferrari on the market to boost liquidity. However, the original proposal has now returned to the table. "I don't believe we will go above 10 percent," Marchionne said, according to Automotive News, but also noted things weren't final. By increasing the Ferrari stock on the open market for the IPO, FCA decreases the amount going to current shareholders, according to Automotive News. With that being the case, don't expect too much of the Prancing Horse to be offered up to investors when the stock hits the market. Related Video:

1954 Ferrari 375 MM Scaglietti Coupe named Best In Show at Pebble Beach Concours d'Elegance

For the first time in the event's 64-year history, the prestigious Best In Show honor at the Pebble Beach Concours d'Elegance has been awarded to a Ferrari. The 1954 375 MM Scaglietti Coupe seen here is owned by car collector Jon Shirley of Medina, WA, and as it turns out, has quite a rich history.
Nevermind the fact that it's currently one of five road-going 375 MMs - this example was ordered by film director Roberto Rossellini, and was actually born as a Pininfarina-bodied competition Spyder. Following an accident, the car's original body wasn't able to be saved, but the chassis was sent to Carrozzeria Scaglietti in Modena for replacement, and the finished product became the company's first passenger car design for Ferrari.
Following its tenure with Rossellini, the car was owned by Mario Savona of Palermo, and later Charles Robert of Paris. Years later, the car was restored by its current owner in 1995, after being found in an underground garage in a Paris suburb.