1962 Chrysler 300 2 Door Hardtop Original Condition on 2040-cars

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Six arrested from chop shop linked to Dream Cruise thefts

The spirit of this year's Woodward Dream Cruise was dampened after a rash of car thefts were reported. The vehicles included a 1966 Chrysler 300 Deluxe, a 1966 Chevrolet Corvette, and a replica of the 1971 Chevrolet Camaro owned by the founder of Papa John's Pizza. While these thefts outraged the collector car community, that same tight-knit group is now breathing a sigh of relief, as those responsible are behind bars. Detroit Police arrested six people – three adults and three teens – on Thursday, September 17, in connection with a chop shop operation linked to the collector car thefts. According to The Detroit News, one suspect is still at large. There's concern among Dearborn police that the same group responsible for the Dream Cruise thefts boosted some vehicles from a Ford factory. While the Camaro was recovered mostly whole and found in a giant bush on Detroit's west side, the fate of the Corvette or Chrysler has not been made known. Here's hoping these classic cars make it back into their rightful owner's garages soon. News Source: The Detroit NewsImage Credit: Jerry S. Mendoza / AP Government/Legal Chrysler Classics

Fiat pondering swallowing rest of Chrysler, US IPO

At the moment, Fiat is in court with the United Auto Workers, waiting for the justice system to provide some guidance on a fair price for 41.5-percent of Chrysler it doesn't own. Fiat owns 58.5 percent of the company and wishes to buy the remainder, which is owned by the union's VEBA retiree trust, but the Italian company and the UAW are on different sides of the galaxy when it comes to assigning a fair price to that outstanding stake.
Naturally, Fiat CEO Sergio Marchionne is considering his options. A new report in the The Wall Street Journal says one of the scenarios being considered now is - depending on the outcome of the court case - to purchase the 41.5-percent stake and then issue an IPO to recoup some of the cost. About two months ago, Marchionne put the odds of an IPO for a wholly combined Fiat/Chrysler at 50 percent. Even with the WSJ report, it's not clear if those odds have changed.
The current company structure leaves a lot of options as to how a potential IPO could be issued, but it's said that Marchionne is against it, preferring "to be one company," under Fiat, indivisible. If Fiat is finally able to purchase all of the Pentastar, it would get access to Chrysler's war chest, pegged at $11.9 billion at the end of Q3 in 2012, and that money can't come soon enough for a brand taking a beating in Europe and delaying product over cash concerns.

Toyota, Ford not interested in FCA merger

Sergio Marchionne will preach the benefits of mergers to anyone who'll listen, but his calls for industry consolidation may be falling on deaf ears. At least, that is, the ears of those who the Fiat Chrysler chief would most like to bend. Not only is General Motors uninterested, but according to The Detroit News, neither are Toyota or Ford. "It's something we would not be interested in," said Toyota's North American chief Jim Lentz, at the groundbreaking ceremony for the new Toyota Technical Center. "At 10 million (vehicles) we have enough scale right now to do what we need to do. There really would be no advantage for us." Toyota isn't the only one unenthused by the prospect of merging with Fiat Chrysler Automobiles. The Detroit News also reports that Ford, though it may yet to have been approached by Marchionne, wouldn't be interested either. "We're not a suitor for FCA," said Ford CFO Bob Shanks. "We don't see that type of opportunity as one that applies to us." With GM, Toyota, and Ford expressing disinterest in Marchionne's merger idea, the FCA chief will likely start looking elsewhere – or look for other ways to compel his primary candidate to reconsider. He may eventually find a partner – more likely in the Far East or within Europe – but it may not take the form of the major player Sergio has hoped for. News Source: The Detroit NewsImage Credit: Bill Pugliano/Getty Chrysler Fiat Ford Toyota Sergio Marchionne FCA merger fiat chrysler automobiles