1984 Fiat Pininfarina Azzurra Spyder on 2040-cars

Auto blog

Chrysler IPO to be filed as early as this week

An initial public offering for the Chrysler Group could happen this week, following Sergio Marchionne's comments to Financial Times in London, according to a report from The Detroit News. Fiat, which owns 58.5 percent of Chrysler, has been in a battle with the UAW retiree healthcare trust over its minority stake in the company. While the automotive union recognizes its role as a temporary shareholder, the two couldn't come to an agreement on how the shares should be priced.
As Marchionne explained to FT, a Chrysler IPO allows the market, rather than the two competing sides, to determine the value of the shares. The public offering is a risky move, which could potentially hang one side out to dry - if the shares go high, it's bad news for Fiat, but if they go low, the UAW stands to lose. Regardless of where the stock prices go in an IPO, though, it's a move that's being supported by analysts, who are quick to cite Chrysler's near-constant growth and a product lineup that is getting healthier with each new introduction.

Six 'shut up and take my money' cars

Any time you see this iconic moment in pop culture - Shut up and take my money! - posted in response to a new car reveal, rumor for an upcoming model or even lip-service to a vehicle that should exist, you can bet there's some intrinsic good in the idea. Though depending on the person offering up the cash, that good could take the form of extraordinary form, functionality, weight savings, power, handling, etc. You get the idea.
In fact, when I first proposed this list, I reached out to the Autoblog staff to help me brainstorm. Here are some of the ideas they offered up that I ultimately didn't use: Jaguar XE Coupe, Pagani Huayra Roadster, Mercedes-Benz S-Class "parade car" (cabriolet), Morgan 3-Wheeler with Ducati V-twin, Ford Transit Connectamino (pickup), Mercedes CLA63 AMG, Ford Fusion 5.0, BMW i8 Spyder, Lexus RC-F Shooting Brake, Volvo XC90 Polestar. Oh, and things we collectively wanted to stick Dodge's Hellcat in were almost as numerous as models that Fiat Chrysler Automotive currently makes (though none quite so compelling as the Grand Cherokee you see above.)
Ultimately though, while I used a couple of ideas from my colleagues, the list of cars I'd shell out for unquestionably is very personal. Though it isn't complete, what follows is a selection of cars whose very existence would prompt me - or the trust-fund-baby versions of me - to utter without hesitation: "Shut up and take my money."

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.