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Ferrari IPO could come any day now

According to Bloomberg, Fiat Chrysler Automotive Sergio Marchionne told reporters at the Toronto Global Forum that the Ferrari IPO could come any day now. "We are days away from filing the prospectus," said Marchionne, who declined to confirm whether rumors of involvement from UBS Group AG, JPMorgan Chase & Co and Goldman Sachs Group were accurate. In addition to an expected filing in New York, Marchionne hinted that a secondary filing could take place in Milan, Italy. Although the FCA Chief Executive didn't offer any expected sum for Ferrari, he had previously suggested that an IPO for the iconic Italian brand could be worth $1 billion, ringing the registers to the tune of 10 percent of the company's $11 billion valuation. According to Bloomberg, that potential sum is significantly higher than its own internal figures indicate after taking a poll of analysts who we assume must know a heck of a lot more about such things than we do. Considering how close we apparently are to the actual filing, though, we probably won't have to wait long to find out. Another hot topic any time Sergio is the subject of reporter questioning is a potential merger with General Motors or another large, full-line automaker. It seems there aren't any new revelations to reveal on the consolidation front, though Marchionne told reporters there were no plans to mount a hostile takeover of GM or any "other, less optimal" partners. Related Video: News Source: BloombergImage Credit: STR/AFP/Getty Earnings/Financials Chrysler Ferrari Fiat Sergio Marchionne FCA

A closer look at the 2015 Chrysler 200

When the doors of the Detroit Auto Show open to the public tomorrow, there's no doubt that the Chevy, BMW and Lexus booths will attract plenty of foot traffic with flashy sports cars. But when it comes to relevance as it relates to sales volume and in-market shoppers, the 2015 Chrysler 200 could end up being one of the more important introductions from the show. Positioned in the highly competitive midsize sedan segment, Chrysler has quite the challenge ahead of it, so we asked Andy Love, product chief of the 200, to give us a closer look at the new sedan to see how it will stack up against cars like the Toyota Camry, Ford Fusion and Honda Accord.
All of the pertinent information about the new 200 was revealed during the on-stage introduction, but Love gave us a first-hand look at the sedan's more intricate details. This includes some of the exterior design elements such as the wide use of LED exterior lighting and the strategic placement of the side marker lights, and even interior cues like electronic shifter, which allowed for extra storage space in the center console. Aside from the name, the 2015 200 started from scratch riding on a similar platform as the Dodge Dart and Jeep Cherokee, based on the Alfa Romeo Giulietta.
Scroll down to watch Love talk us through the 2015 Chrysler 200, and you can find more information about it at our original post from earlier in the week.

Canada bailed out GM, Chrysler without really knowing what they were getting into

The Auditor General of Canada recently issued a report that makes at least one thing clear: it doesn't know how effective Canadian government loans given to General Motors and Chrysler in 2009 were in ensuring the viability of both companies. That year, the Canadian and Ontario governments dished out $10.8 billion CAD ($9.6B US) to GM and $2.9 billion CAD ($2.6B US) to Chrysler, but hadn't yet sorted out precisely how the funds were to be used before disbursing them. This happened in spite of the fact that, according to a piece in Bloomberg, the loans weren't meant to be handed out until authorities were clear on the manufacturers' plans for reorganization. In fact, federal officials hadn't finished establishing the concessions made by all the involved parties, the pension liabilities, nor the long-term soundness of the automakers' financial positions. On top of that, apparently it didn't keep close tabs on the money after loaning it: the report says that $1B CAD should have been applied to GM Canada pension plans but was instead given to GM to use. Chrysler repaid $1.7 billion, while GM handed back $3.8 billion and Bloomberg believes the feds in Ottawa still own 110 million shares of The General, which, at the stock price as of writing, would be good for another $3.9 billion. Those were mad, bad days, though, and we're not sure what point the report serves, other than to say, "Oh, by the way...." News Source: BloombergImage Credit: Bill Pugliano / Getty Images Government/Legal Chrysler GM bailout