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Fiat Chrysler denies GM's 'preposterous' bribery allegations

DETROIT — Allegations by General Motors that Fiat Chrysler Automobiles bribed union officials are “preposterous” and read like a script from a “third-rate spy movie,” FCA lawyers wrote in court documents filed Monday. GM, in a court motion last week, alleged that Fiat Chrysler used foreign bank accounts to bribe union officials so they would stick GM with higher labor costs. But in a response, the Italian-American automaker fired back, calling GMÂ’s claims “defamatory and baseless.” GM alleged in a court filing last week that FCA spent millions on bribes by stashing the money in foreign accounts. The allegations of new evidence were made in a motion asking a federal judge to reconsider his July dismissal of a federal racketeering lawsuit against Fiat Chrysler. In trying to revive the lawsuit, GM alleged that bribes were paid to two former United Auto Workers presidents, as well as a former union vice president and at least one former GM employee. In its response, Fiat Chrysler said GM has to know that the prospect of getting the judge to overturn the dismissal is slim to none. “So this motion is apparently a vehicle to make more defamatory and baseless accusations about a competitor that is winning in the marketplace.” FCA denied allegations by GM that FCA paid two “moles” to infiltrate GM and send inside information. The company also denied that foreign bank accounts were involved. “That GM has extended its attacks to individual FCA officers and employees, making wild allegations against them without a shred of factual support, is despicable,” FCA lawyers wrote. GM's claims are based on the alleged existence of foreign bank accounts, which are legal, Fiat Chrysler wrote. “There is not one well-pled allegation in the proposed amended complaint (by GM) that these foreign bank accounts were used to pay bribes or facilitate any other illegal conduct,” FCA's response said. GM contends that bribes were paid to former United Auto Workers Presidents Dennis Williams and Ron Gettelfinger, as well as Vice President Joe Ashton. It also alleges money was paid to GM employees including Al Iacobelli, a former FCA labor negotiator who was hired and later released by GM. GM alleges that payments were made so the officials would saddle GM with more than $1 billion in additional labor costs.

Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

Abarth 695 Biposto revealed as quickest Fiat 500 yet

The Fiat 500 is supposed to be a budget model - something you can pick up with less than twenty grand to your name. But once Abarth gets its hands on it, all bets are off. The Scorpion brand is charged with getting the most performance it can out of budget-oriented vehicles like the Cinquecento and Punto, and that's just what it's done with the new 695 Biposto.
Billed as the "fastest street legal Abarth ever" (quickest?) and unveiled at the Geneva Motor Show, the 695 Biposto packs a 1.4-liter turbo four that's been tuned to produce 190 horsepower - a good thirty more than the already entertaining Fiat 500 Abarth we get in the United States. With a robust power-to-weight ratio - the highest in its class, according to the Italians - the 695 Biposto can hit 62 miles per hour from a standstill in just 5.9 seconds, more than a second quicker than the US model.
Now if you saw the name Biposto and figured out that means just two seats, you're spot on: in its campaign to trim excess fat, Abarth has ditched the rear bench and replaced the front seats with a set of Sabelt racing buckets with four-point harnesses anchored where the rear seats would be. The fixed plexiglass front side windows do their part, too. It's also been fitted with adjustable shocks, an MXL digital data recorder, a titanium rear roll bar, Brembo brakes and 18-inch OZ alloys.