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Fiat and UAW back at negotiating table over Chrysler stake

We knew there'd be no Chrysler IPO before the end of this year, but Fiat is determined to get the best run going into 2014 and is back at the poker table with the UAW. The delay was said to be Chrysler's desire to clean up a tax issue with the IRS; turns out that also bought the carmaker time to try and close a deal for the UAW's 48.5-percent stake in the company before the IPO happens.
Whereas the price Chrysler was willing to pay was once more than $1 billion under the UAW's asking price, the gap has closed to just $800 million of late. A recent valuation of the company at $10 billion - a valuation the UAW has disputed - means Fiat would be looking to pay about $4.2 billion instead of the $5 billion that the UAW seeks. But the UAW needs to hold out for the highest amount it can get because its pension obligations through the Voluntary Employee Benefit Association (VEBA) are $3.1 billion greater than the VEBA's assets, which include the Chrysler stake.
There's a clause in the agreement that Fiat can buy the VEBA shares for $6 billion, but Fiat CEO Sergio Marchionne has said that the UAW "should buy a ticket for the lottery" if they even want $5 billion. The UAW, though, has more time to wait; it's Fiat that wants access to Chrysler's $11.9-billion war chest and that would like to avoid the risk of paying the full $6 billion for the UAW share if the float really takes off. With other valuations of Chrysler as high as $19 billion, a hot IPO could make that $6 billion look like a bargain.

Watch the mechanical symphony of the Chrysler 200 build process

For those of you who can't get enough of the 2015 Chrysler 200, The Pentastar put together a short video following its new sedan down the line at its Sterling Heights Assembly Plant. As with the best new-baby albums, you'll see it take its first bath, be doted on by family members, put on its first pair of shoes and get all dressed up for an introduction to the world.
The only thing missing are its first words. You can follow it down the line in the video below.

Chrysler unveils Dodge Charger SRT8 392, 300 SRT Concept to the faithful

Our man Steven J. Ewing recently spent some time in a 2013 Dodge Charger SRT8 Super Bee, and while he found a lot to love - particularly underhood - he didn't care for the sedan's retro-steeped visuals, preferring the standard SRT's look instead. Perhaps he'll dig this throwback look instead. Over the weekend, Chrysler unveiled this handsome 2013 Dodge Charger SRT8 392 Appearance Package at the eighth annual Spring Festival of LXs, a gathering of Charger, Challenger and Chrysler 300 enthusiasts held in Irvine, California.
Unveiled by SRT CEO Ralph Gilles in front of an estimated 2,500 Spring Fest goers, the 392 features 20-inch Black Vapor Chrome alloys set off by a black-painted roof panel, hood bulge, spoiler and mirror caps. Additional exterior changes include model-specific striping and badging along with the requisite serialized dash plaque inside. The 392 will be available in five colors - Billet Silver Metallic, Bright White, Hemi Orange, Plum Crazy and the TorRed pain seen here.
Performance-wise, the 392 remains unchanged from standard SRT8s, but that's hardly a slight - the 6.4 liter Hemi V8 continues to churn out 470 horsepower and 470 pound-feet of torque to the rear wheels. Like other 2013 SRT8s, the 392 benefits from the institution of a new launch control system and a retuned three-mode adaptive suspension.