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Marchionne could become Ferrari CEO

Don't think that just because FCA is spinning off Ferrari into a separate company that Sergio Marchionne is giving up any control. Not only is he already chairman of the Prancing Horse, but he might also become its next CEO after Amedeo Felisa steps down, anonymous insiders claim according to Automotive News Europe. The dual roles would put the sportscar brand's future in Marchionne's hands, while he continues to run FCA. Rumors of Felisa stepping down emerged in July, but Ferrari never made an official announcement. The reports suggested that he could leave in September. Execs at the Prancing Horse are now working to decide on a replacement, but there's nothing official in place yet, according to Automotive News Europe. Felisa might maintain an advisory role after retiring, as well. If Marchionne takes charge, the move would come just as Ferrari becomes a newly independent entity. The Prancing Horse's necessary paperwork is already filed with the US Securities and Exchange Commission, and the IPO is expected in October. Marchionne took over as Ferrari's chairman last year after Luca di Montezemolo's resignation. As boss, he intends to increase production to 10,000 units a year from 7,000 annually under Montezemolo. Among the projects in development is a revived Dino. Related Video:

Ferrari 250 GT SWB California Spider tops Gooding's Saturday auction at $15.18 million

During the weekend's automotive smorgasbord in Pebble Beach, Ferrari has played a huge roll. Twenty examples of the ultra-rare 250 TR, better known as the Testa Rossa, were prominently on display at the Concours d'Elegance, and the Prancing Horses have been top sellers at many of the auctions. You can chalk up one more on that list with a 1961 Ferrari 250 GT SWB California Spider with a scarce, optional hardtop included going for $15.18 million at Gooding & Company's sale on Saturday night. Ferris Bueller would find it so choice.
In all, the auction house brought in about $60.4 million during the night, and 17 of the cars on the block sold for over $1 million. None of the other cars on Saturday managed quite the stratospheric highs of the California, though. A 1955 Aston Martin DB3S was the second-highest seller at $5.5 million. The next four top vehicles were all Ferraris with final prices ranging between $2.09 million and $2.365 million. Clearly, investors are in love with the Prancing Horse these days.
Check out our gallery, and scroll down to read the auction house's announcement of its top Saturday results.

Marchionne's FCA-GM merger might come after Ferrari spinoff

Sergio Marchionne is continuing to rumble about working out a merger with General Motors, but don't expect anything big to happen before at least early next year. That's because Marchionne would likely wait for the Ferrari spin-off to be complete before beginning his next big deal, according to Automotive News. While the Ferrari IPO on the New York Stock Exchange is expected in the coming weeks, that only concerns 10 percent of the shares. The remaining 80 percent of stock is being distributed among shareholders in 2016. Piero Ferrari holds the final 10 percent with no intention to sell. This strategy allows FCA to claim 80 percent of the Prancing Horse's profits in the automaker's 2015 financial results. According to Automotive News, the tactic has other advantages, as well. FCA would be flush with cash by waiting for the spin-off to be complete, and it would keep Ferrari separate if a GM merger actually happens. Marchionne thinks Ferrari could be valued at over $11 billion in the IPO, and it could make FCA $3.3 billion richer when complete. Marchionne believes a combined FCA/GM could sell 17 million vehicles a year globally and rake in $30 billion in earnings. In the CEO's opinion, the two automakers are wasting money by developing components to do the same things on their vehicles. Although, so far the General's top execs are rebuffing all of his advances.