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Chrysler to veer away from 'Imported From Detroit' message?

Claim some ground, control that ground and then expand. Chrysler, wandering the Earth like Kane from Kung-Fu when it came to brand message after the bailouts, pulled off the first two feats in only 120 seconds when its "Imported from Detroit" commercial aired during the 2011 Super Bowl. Two years later and now that the brand has a center in the minds of consumers, the Chrysler Group's head of marketing, Olivier Francois, says it's time to move away from the "Detroit" component of that slogan and express the "Imported" aspect.
It is, more precisely, about positioning Chrysler as genuine competition for imports and not Ford or General Motors, but rather Toyota on quality or Audi on technology. A report in Forbes said that Francois not only "wants to attract import owners to Chrysler vehicles by focusing on quality, technology, fuel economy and style," but to "take back the lead in these four things." That is the new understanding he wants people to infer from the idea of Detroit - that the nation's car capital isn't just a patriotic rallying point but a lively competitor for established giants.
Chrysler has been running ads that no longer refer to Detroit, and recent efforts have linked a specific character to each brand - like Jenny with Jeep and Steven with the Chrysler 300 - to create brand separation. Francois hasn't detailed what he plans to do to bolster Chrysler's upscale pretensions, but his efforts would be helped by CEO Sergio Marchionne loosing the pursestrings and the arrival of strong new product.

Fiat stock rockets up after word of Chrysler deal

Now that Fiat has finalized a deal to purchase the outstanding shares of Chrysler owned by the United Auto Workers' VEBA retiree heathcare fund without having to file for an IPO, you can count the Italian automaker's stockholders among the happy. The Detroit News reports that Fiat stock closed Thursday with a 12-percent gain for the day on the Borsa Italiana, having been up by as much as 15.8 percent during the day's trading, at prices not seen since mid-2011. One trader reasoned the run was because Fiat "paid less than the market had expected and there will be no capital increase to fund this."
But there are some who worry, including bank analysts and unions. The final price of the stake will be $4.35 billion - $1.9 billion in cash from Chrysler, $1.75 billion from Fiat and extraordinary dividends in the amount of $700 million paid over three years. Adding that sum to its ledger will raise Fiat's debt level to roughly 10 billion euros ($13.8 billion), which Citibank says will make it the most indebted OEM in Europe.
Italian unions are also concerned about what the deal means for the future. Fiat CEO Sergio Marchionne has had an at-times contentious relationship with both unions and the Italian government over the future of Italian manufacturing, a fact that makes headlines because Fiat is Italy's largest private employer. At least two left-leaning unions have publicly called on Fiat to give guarantees and to explain what the deal means for its Italian operations, while a centrist union argues this is "good news for Fiat workers, for the auto industry and for our country."

What will Detroit do with the abandoned AMC headquarters?

As with so many other industrial and residential properties in Detroit, the former headquarters for the American Motors Corporation is having a hard time finding a reputable buyer. In October the Wayne County Treasurer held a tax foreclosure auction of 25,000 properties that included the AMC building, the starting bid being $500. Nicholas Casab won the building for $500, but the county voided the sale when Casab didn't pay the $232,000 in back property taxes. Detroit authorities haven't commented on the failed sale, but the city has until January 4 to decide if it wants to keep the building. If it doesn't want to hold onto it, the 1.5-million-square-foot property on 57 acres might be ceded to the Wayne County Land Bank Corporation. No matter who holds the deed come January 5, all anyone really wants is for someone to take possession of the building who will actually turn it into something useful and viable. The property opened in 1927 as a factory for the Kelvinator Corporation. Over the following decades, Kelvinator merged with the Nash Motor Company, and that merged entity merged with Hudson Motor Car Co, becoming American Motors. Chrysler took over the building in 1987 when it bought AMC, then shuttered it in 2009. The complex has produced refrigerators, Sikorsky helicopters, Jeeps, AMCs, and was used as an engineering center for Jeeps and other Chrysler products. Having been through several hands in the past six years, it is cited as part of the cycle of abandonment plaguing Detroit. Related Video: News Source: Detroit Free Press Government/Legal Chrysler Jeep Auctions Detroit amc