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FCA delays distribution of Ferrari shares

Even if you can't afford an actual Ferrari, soon you can own a part of the famous company thanks to its upcoming initial public offering. FCA will put 10 percent of the Prancing Horse on the market in the third quarter of this year. However to reap extra money for 2015's bottom line, the rest of the sports-car maker's stock will remain undistributed for a little longer. According to Automotive News, the strategy is quite simple to understand. FCA is holding off until the first quarter of 2016 to divvy up the remaining Ferrari stock to shareholders. By doing so, the automaker gets to claim 80 percent of the Prancing Horse's profits for its 2015 financial numbers. While FCA is already showing strong results through Q1 2015, being able to add extra cash on the balance sheet is always a plus. FCA hasn't set a specific date for the IPO, but Ferrari stock was announced to be traded in the US and possibly on a European exchange, as well. According to Automotive News, FCA currently owns 90 percent of the company, and Piero Ferrari has the remaining 10 percent, which he isn't selling. Related Video:

Ferrari names Edwin Fenech head of North American office

Ferrari North America has been sailing without a captain for the past several months since its previous chief executive, Marco Mattiacci, was called home to Italy to run the Scuderia. But now the Italian automaker has announced a new capo to run the office in New Jersey, and his name is Edwin Fenech.
Not to be confused with the French-Italian actress Edwige Fenech (who obviously showed up in our research before the Ferrari exec did), Edwin Fenech has a long history of running regional offices for the Prancing Horse marque. Prior to making the jump to the North American division, Fenech ran the company's operations in the Middle East, Africa, Asia Pacific and China, and previously served as sales and marketing director for France and sales manager for all of Europe.
Now in charge of Ferrari's largest market, Fenech will be responsible for expanding the company's presence not only in the United States - in which Ferrari has been present now for sixty years - but also in Canada as well as Central and South America.

Beautiful Ferrari 250 California poised to break hearts, records

If you think buying a new Ferrari is expensive, just look at the prices collectors pay at auction for some of the brand's most desirable classics. The figures regularly delve well into eight figures. As in, tens of millions of dollars. One of the most sought-after is the Ferrari 250 GT SWB California Spider, and the one you see here looks poised to raise the bar yet again. One of only 56 made (and just 16 with open headlights), chassis number 2505 GT is an exceptional example of the breed in Blu Scuro with Pelle Beige interior. Unlike most Californias that were sent to the US, this particular one was delivered new within Italy, where it remained until 1974 when it moved to Switzerland for 20 years. Since undergoing full restoration by Ferrari's own Classiche department, it won top honors at the Cavallino Classic and honorable mention at the Concorso d'Eleganza Villa d'Este, it's been displayed at the Ferrari Museum in Maranello and was even driven by Luca di Montezemolo himself in the parade at the Finali Mondiali in Valencia a few years ago. Now it's going up for auction by RM Sotheby's at Villa d'Este next month, where it is sure to fetch a pretty penny or two. (And by "two," we mean "bajillion.") It's got quite an act to follow: the last time a California Spider traded hands, it sold for a record $18.5 million – and that was an unrestored barnfind – eclipsing the pristine example Gooding sold last summer for over $15 million. The records at Sports Car Market demonstrate that California Spiders hold the top spots for the most expensive variants of the iconic 250 GT ever sold at auction, and though pre-sale estimates place its value between $12 and 14 million, we wouldn't be surprised to see it fetch much more once the gavel drops. Though surely the most valuable, it's not the only collectible Ferrari up for grabs at the event on Lake Como this year. The California will be joined by a 1950 Ferrari 195 Inter Berlinetta along with an enviable quartet of Prancing Horse supercars (288 GTO, F40, F50 and Enzo) as well as a rare 599 GTB with a six-speed and HGTE package and a single-owner 575 Superamerica.