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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

Ralph Gilles named Fiat Chrysler head of design

The amalgamation of two major automakers like Fiat and Chrysler inevitably means that there'll be some redundancy. There can't be two design chiefs for the entire group, for example, so the Italian-American automaker has named just one to oversee all design for its various divisions – and that one individual is Ralph Gilles. A Chrysler group veteran, Gilles has been at Auburn Hills since 1992, and has held a number of key positions along the way. He has until now served as senior vice president in charge of what's now known as the FCA North American Design Office – a position he assumed in June 2009 when it was still just the Chrysler design office – and has previously run the Dodge and SRT brands and headed up the company's racing activities. In assuming his new role as the group's Head of Design, Gilles will also step up to the FCA Group Executive Council. Meanwhile Lorenzo Ramaciotti, who joined Fiat as head of design in 2007 after serving the same function at Pininfarina, is now set to retire. Along with the Gilles appointment and Ramaciotti retirement, FCA has named Mauro Fenzi as group COO Systems and head of Comau, Fiat's robotic machinery division. FCA Announces Executive Changes - Appoints Gilles as Chief Designer - Names Fenzi COO Systems and CEO of Comau April 1, 2015 , London - Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MI: FCA) today announced that Ralph Gilles was named Head of Design and member of the FCA Group Executive Council (GEC). He currently leads the FCA North American Design Office as Senior Vice President, a position he was named to in June 2009. The GEC is the highest management-level decision making body within the FCA organization and is led by the FCA Chief Executive Officer (CEO). Gilles succeeds Lorenzo Ramaciotti, who is retiring after several years of dedicated service with the Company. Ramaciotti will continue to lend his expertise to the group serving as a Special Advisor to the CEO. "We extend our sincere appreciation to Lorenzo for his unwavering dedication, service, leadership and many contributions to the organization," said Sergio Marchionne, Chief Executive Officer, Fiat Chrysler Automobiles N.V. Gilles previously served as CEO – Motorsports; President and CEO – SRT Brand and CEO – Dodge Brand for FCA US in addition to his leadership role in Design. He joined the Company in 1992.

Buy Ford and GM stock and make 5%

Want to make a five-percent return when 10-year treasuries are paying around two percent? Ford (F) and General Motors (GM) have solid balance sheets, strong cash flow, solid earnings, and growing markets. By all accounts, they are smart investments. But the market is down on these stocks. Why? Some of the stupid excuses include: They are cyclical companies The Detroit 3 have lost 3.5 million in sales since 2000 The world economy is shaky GM recently filed for bankruptcy Their markets have peaked They haven't changed their ways Let's take these criticisms one by one: They Are Cyclical Companies Yes, they are cyclical. Every company is cyclical. Every industry is cyclical. Some more than others, but not every company is immune from swings in the market. Banks used to be 'non-cyclical' leader, not anymore. Airline stocks are just as cyclical as auto stocks, yet they are trading at multiples greater than the auto industry. Why? And what accounts for the irrational stock price for Tesla (TSLA)? At least Ford (F) and General Motors (GM) make money and have positive cash flows. In fact, both companies have a net positive cash position. They have more cash on hand than liabilities. Auto sales in the United States hit a record 17.5 million vehicles in 2015. During the Great Recession, Ford (F) and General Motors (GM) cut their break even points to 10 million vehicles per year. Anything above an annual U.S. volume of 10 million vehicles is profit. And what a profit they make. Sales of Ford's F-150 continues to be the best-selling vehicle in the United States for over 30 years. Detroit 3 Have Lost 3.5 million in Sales Since 2000 Automotive News reports General Motors (GM), Ford (F) and Chrysler (FCA) have lost a combined 3.5 million vehicles sales since 2000. So how can they be making more money? Two big reasons – Fleet Sales and the UAW. Fleet Sales The Detroit 3 used to own car rental companies to keep their factories running. Ford owned Hertz (HTZ), General Motors owned all of National Car Rental and 29 percent of Avis, and Chrysler, the forerunner to Fiat Chrysler (FCA), used to own Thrifty Car Rental and Dollar Rent-A-Car. The Detroit 3 owned these rental companies to have a place to sell their bad product and keep their factories running. These were low margin sales, and in many cases, were money losers for the Detroit 3. They no longer own auto rental companies.