2012 Chrysler 200 Limited on 2040-cars

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Fiat buying rest of Chrysler in $4.35 billion deal, IPO avoided

Chrysler will now become a wholly owned member of the Fiat family, as it's been announced that the 41.46-percent stake in the Auburn Hills, MI-based manufacturer owned by the United Auto Workers' VEBA trust fund will be sold to the Italian company. Concluding the agreement will mark the closure of a piecemeal purchase process that could have resulted in an initial public offering.
The total cost of the sale will see the VEBA healthcare trust receive $4.35 billion, $3.65 billion of which will come from Fiat. $1.75 billion of that will be cash, while an additional $1.9 billion will be part of a "special distribution." An additional $700 million will be paid over four separate installments according to reports from Automotive News Europe and USA Today, although the shares will belong to Fiat following the first payment. The deal was reportedly initially struck on Sunday (though it is just being announced today), and is being portrayed as particularly good news for Fiat and Chrysler, which have now prevented the remaining shares going to the stock market in a UAW-forced IPO.
"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization that will ensure all employees a challenging and rewarding environment," Fiat CEO Sergio Marchionne said in a statement.

Brand new cars are being sold with defective Takata airbags

If you just bought a 2016 Audi TT, 2017 Audi R8, 2016–17 Mitsubishi i-MiEV, or 2016 Volkswagen CC, we have some unsettling news for you. A report provided to a US Senate committee that oversees the US National Highway Traffic Safety Administration (NHTSA) and reported on by Automotive News claims these vehicles were sold with defective Takata airbags. And it gets worse. Toyota and FCA are called out in the report for continuing to build vehicles that will need to be recalled down the line for the same issue. That's not all. The report also states that of the airbags that have been replaced already in the Takata recall campaign, 2.1 million will need to eventually be replaced again. They don't have the drying agent that prevents the degradation of the ammonium nitrate, which can lead to explosions that can destroy the airbag housing and propel metal fragments at occupants. So these airbags are out there already. We're not done yet. There's also a stockpile of about 580,000 airbags waiting to be installed in cars coming in to have their defective airbags replaced. These 580k airbags also don't have the drying agent. They'll need to be replaced down the road, too. A new vehicle with a defective Takata airbag should be safe to drive, but that margin of safety decreases with time. If all this has you spinning around in a frustrated, agitated mess, there's a silver lining that is better than it sounds. So take a breath, run your fingers through your hair, and read on. Our best evidence right now demonstrates that defective Takata airbags – those without the drying agent that prevents humidity from degrading the ammonium nitrate propellant – aren't dangerous yet. It takes a long period of time combined with high humidity for them to reach the point where they can rupture their housing and cause serious injury. It's a matter of years, not days. So a new vehicle with a defective Takata airbag should be safe to drive, but that margin of safety decreases with time – and six years seems to be about as early as the degradation happens in the worst possible scenario. All this is small comfort for the millions of people who just realized their brand-new car has a time bomb installed in the wheel or dashboard, or the owners who waited patiently to have their airbags replaced only to discover that the new airbag is probably defective in the same way (although newer and safer!) as the old one.

Woman throws coffee at man over handicapped parking spot

A Toronto area busybody started a decidedly un-Canadian altercation over a woman illegally parking in a handicapped parking spot this week. He now regrets his decision to film it. On March 21, Ryan Favro confronted a young woman outside the Tim Hortons in Toronto as she approached her jeep with two cups of iced coffee. The situation quickly escalated, and ended with the woman hurling obscenities and both of her coffees at Favro before driving off. Favro quickly uploaded his video to Facebook where it quickly became viral, garnering more than a million views and spreading as far as New Zealand. Toronto Police caught wind of the video, which clearly shows the woman's face and the license plates of her Jeep, and issued her a warning. "We've cautioned her for assault and parking in a disabled spot, which is really what we can do under the circumstances," said Toronto Police spokesman Mark Pugash. Favro changed his mind about the public shaming by mid-week and, in a futile attempt to put the genie back in the bottle, he removed the video from his Facebook page. "I don't want to grind this woman into the ground," he said. "There has to be a way for her to recover." His attempt to walk back his video and make the situation go away have not been particularly successful, however. Although he took the original video down, it has been copied and posted so often by now that it has become impossible to completely erase it. His attempts to do so, and his post about it on Facebook, have received some mixed feedback. "If the guy was feeling remorse for publishing it [the video], perhaps he should not have posted it online and just go to police," said Facebook user Laura Dixon. Repeated requests by the Toronto Star to interview Favro have gone unanswered News Source: TheStar.com Chrysler Jeep SUV Off-Road Vehicles Videos parking toronto coffee parking lot handicapped parking