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Samsung Galaxy Note 7 disaster endangers FCA's Magneti Marelli sale

Samsung's financial and public relations positions are going up faster than one of the company's Galaxy Note 7 smartphones, and that's bad news for Fiat Chrysler. FCA was in talks with the South Korean tech giant to sell all or a portion of Magneti Marelli, the enormous Italian parts supplier. The deal, estimated to be in the $3 billion range, was a big part of FCA CEO Sergio Marchionne's five-year plan to slash his company's ˆ5.5 billion ($6.07 billion at today's rates) debt. But Samsung's flaming phones may have stalled the deal, Automotive News reports. Samsung was hoping to acquire all or part of Magneti to gain access to its lighting, in-car entertainment, and telematics business, all in a bid to reduce its reliance on occasionally explosive consumer electronics, AN's sources report. This week alone, Samsung permanently ended production of the Note 7 and began recalling millions of devices, sending out flame-proof return boxes so owners can ship the device back in relative safety. The disaster has already caused Samsung to slash its third-quarter operating profit by $2.3 billion, and is leading the company to divert its attention away from big, blockbuster deals, people "who asked not to be identified because the negotiations are private" told AN. According to the same sources, the two sides haven't even agreed on a valuation for Magneti Marelli. Neither company was willing to comment on the potential sale. Related Video: News Source: Automotive News - sub. req.Image Credit: Andrew Zuis / AP Chrysler Fiat Technology Smartphone Sergio Marchionne FCA Samsung

Marchionne uses racial epithet to describe what must power future Alfa Romeo models

Sergio Marchionne and his Fiat empire have a lot riding on the US return of the Alfa Romeo brand. The endeavor has been in progress for what feels like a lifetime - certainly for as long as Fiat has had the Chrysler brand under its Italian wing.
It's not surprising that Fiat CEO Marchionne needs a perfect first Alfa to mark a return to America. And here's where things get dicey. Nobody would argue with Marchionne's insistence that Alfa Romeo's be powered by Italian engines - as Marchionne himself is quoted to have said at the 2013 Detroit Auto Show, "There are some things that are well done in Italy."
If not what he said, then, it's how he said it that has eyebrows raised. "I cannot come up with a schlock product, I just won't. I won't put an American engine into that car. With all due respect to my American friends, it needs to be a wop engine." Wait, what's that?

2017 Fiat 124 Spider Abarth | Drivers Notes

We spent the week with a Grigio Argento Aluminum 2017 Fiat 124 Spider Abarth, known to many simply as the Fiata. As you may know, the 124 Spider is heavily based on the current ND Mazda Miata. In fact, both cars are built side-by-side in Hiroshima, Japan. The Miata has been a staff favorite for years, so we were interested to see how Fiat would handle the changes. While there are a lot of shared components between the two models like styling and suspension tuning, the biggest changes are under the hood. Fiat swapped the Miata's 2.0-liter naturally aspirated inline-four for a 1.4-liter turbocharged inline-four. In Abarth trim, the 124 Spider makes 164 horsepower and 184 lb-ft of torque, slightly more than the Miata (though that's offset by a bit of extra weight). Associate Editor Reese Counts: I wasn't sure how I was going to feel about this car. The current Miata is nearly flawless when it comes to driving dynamics, so I was afraid Fiat's alterations would undermine what is a fundamentally good vehicle. My fears were almost immediately put to rest. While I'm still not sure I would buy one over a Miata, I can totally recommend it to less performance-minded friends. The suspension is less firm and provides less body roll than the Miata, the latter one of my chief complaints about the Mazda. The transmission isn't as slick as the newer one in the Miata, but the turbo engine it's mated to provides plenty of character. The extra torque provides plenty of kick off the line thanks to minimal turbo lag. On paper, it's really no quicker, but around town it feels like it has a bit more grunt. In a canyon or on a track, I think I would still prefer the Miata. The 124 Spider's looks have grown on me a lot since the reveal in 2015. Honestly, I really didn't like it at first, maybe because I was so in love with the Miata's design. Taken on its own, the 124 Spider really is a pretty thing, with plenty of touches that harken back to the old model. Most important for me, they fixed the terrible, terrible seats in the Miata with new padding and covers. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Senior Producer Eddie Sabatini: I took the 124 Abarth Spider home two days this week, and it was two days of fun. Do I like the Miata better? Yes. For my money, the MX-5 drives better, looks better, and feels better but it's not the runaway contest I thought it would be before I got behind the wheel of the 124.