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Chrysler stays IPO until 2014

There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Not surprisingly, the issue with the Chrysler IPO is the same as it's always been - a disagreement between parent company Fiat, which owns 58.5 percent of the Chrysler Group and a UAW healthcare trust, which owns 41.5 percent. Fiat wants to buy out the UAW VEBA healthcare trust, which is responsible for shouldering retiree healthcare costs, but the two sides are hung up on an actual price tag for the remaining two-fifths of the company.
The original idea saw an IPO as a way of setting a fair market price for the remaining shares, although it's not entirely clear what broke down and led to a delay of the IPO plan. As Forbes points out, by waiting until 2014, Chrysler could be risking a cool-off in the IPO market, which could mean less money in its pocket when the automaker finally goes public.

Marchionne offers belated apology for 'wop engine' comment

Automotive News reports Fiat-Chrysler CEO Sergio Marchionne has issued a written apology for his comments regarding his decision to stick with an Italian engine for the upcoming Alfa Romeo 4C. As you may recall, back in January, Marchionne was quoted as saying, "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 has to be a wop engine." The CEO penned an apology to the Italian American ONE VOICE Coalition for using the racial epithet, saying that he made the comment in jest. Marchionne also said he realizes his remarks were unacceptable.
ONE VOICE, an organization aimed at fighting discrimination and stereotyping of Italian Americans, thanked Marchionne, Chrysler and Fiat for the apology. Marchionne is an Italian-born Canadian citizen, and he's gotten in trouble for other comments in the past. In 2011, he called high interest rates Chrysler was paying to the Canadian government "shyster rates." He apologized a day later.

Supplier says Jeep Cherokee hack only affects FCA cars

Harman doesn't think that drivers need to worry about any further hacks of its products. The company supplies FCA's Uconnect infotainment system where a software vulnerability is responsible for a 1.4-million vehicle recall. "This experimental hack is unique to Chrysler," Harman CEO Dinesh Paliwal said to Automotive News. "This does not exist, to our assessment, in any other vehicle." The reason that the company wouldn't be involved is that automakers aren't simply plugging in the existing infotainment systems into new vehicles. According to Paliwal, Harman supplies the unit, but FCA and other automakers are able to make additional modifications for their vehicles. The National Highway Traffic Safety Administration has also recently taken up the question of broader software vulnerabilities in Harman's products. On July 29, the agency began investigating the company to check for similarities between Uconnect and the infotainment systems supplied to other automakers. The Jeep hack became national news when two researchers were remotely able to take control of a Cherokee. The vulnerability in the cellular connection even gave control over the brakes. "Once people get in the car and get into the CAN bus, then you can start to mimic and mess up many, many things in the car," Paliwal said to Automotive News. Politicians immediately responded with legislation to create federal standards in hopes of protecting drivers better. NHTSA also opened an investigation to make sure the automaker's software update actually solved the problem. Related Video: