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Marchionne's pay as Fiat CEO falls to $5M

Sergio Marchionne will be buying fewer of his iconic sweaters, as his 2013 pay from Fiat took a dip from $6.24 million to an even $5 million. Marchionne, who was also CEO of Chrysler, made $307,989 thanks to some stocks and benefits from the American company, although he didn't take a salary. Of that $5 million paid by Fiat, $3.19 million came from Marchionne's fixed salary while the remaining $1.8 million was paid for hitting unspecified performance targets.
The news comes from Fiat's compensation reports, which also showed that the 61-year-old, who already owned three million shares in Fiat at the end of 2013, was able to receive an additional 2.3 million shares through a stock incentive program. According to Automotive News Europe, the additional shares would be worth about $25 million at today's prices, although so far, Marchionne has declined to claim the extra shares.
According to ANE, Fiat reported a 2013 trading profit of $4.7 billion.

Queens man knows how to party, disrupts Mets game with van

A New Yorker and all-around true American hero took his weekend festivities a little too far and landed himself in front of a judge last week. According to NBC New York, Nelson Hidalgo drove his unassuming Sprinter to Citi Field on Saturday, June 18, around 10:45 p.m. While the Mets were getting thrashed by the Braves, Hidalgo pulled up to the intersection of 127th street and 35th avenue. Hiding within the van's cargo area were 80 speakers driven by powerful amps, around $20,000 worth of car audio. Hidalgo opened the Sprinter's rear doors, deployed his amazing speaker system, cracked a cold Coors Light, and unleashed hell. Noise complaints immediately started flooding in to the police, including one from the Mets' bullpen. Soon, Hidalgo amassed a sizable crowd who had come to rock out and marvel at the lunacy of the Sprinter's sound system. The NYPD showed up eventually and, undaunted by noise and the crowd, clapped the irons on poor Nelson. The Sprinter was impounded and Hildago was charged with second-degree criminal nuisance, general noise prohibition, disorderly conduct, and obstructing the driver's view. "I know it's illegal, but it's the weekend," he explained to the cops as they hauled him away. Once they had him in custody, the NYPD realized that Hidalgo was the person they had been looking for in connection with absurdly loud music coming from various city junkyards in the dead of night. Hidalgo, who has no prior record, spent the night in the slammer but was released the next morning with no bail on the promise that he return for his court date on August 1. Related Video:

4 ways FCA-PSA merger could be a plus

DETROIT — In a merger deal announced overnight, Fiat Chrysler stands to gain electric vehicle technology while PSA Peugeot Citroen could benefit from a badly needed dealership network to reach its goal of selling vehicles in the U.S. The merger would create the world's fourth-largest automaker with a combined market value of around $50 billion. Neither company would comment. Experts say the two automakers will be able to share car, SUV and commercial vehicle designs, helping each other fill weaknesses and share costs that will make them a strong global player. "We view the combination of these two companies as reasonable given global competition, high capital intensity, and industry disruption from electrified powertrain as well as autonomous technologies," Morningstar analyst Richard Hilgert wrote in a note to investors. Here are four areas that could be crucial to the two automakers' success: Technology For years, Fiat Chrysler has lagged its rivals in electric vehicle technology, with its former CEO once trying to discourage people from buying its only fully electric car in the United States, the Fiat 500E, because he lost money on each sale. The company has made progress on gas-electric hybrids and may have plans for more fully electric vehicles, but PSA has valuable technology that FCA can use, said Navigant Research analyst Sam Abuelsamid. Peugeot was relatively late to the electric vehicle game but is now working fast to catch up, notably with fellow French rival Renault. CEO Carlos Tavares has made a point of stressing the company's need to adapt to changing technology at car shows and earnings calls. Last year he announced plans to offer 40 electric models across its lineup by 2025. "Electrification hasn't been a huge part of their play up until now," Abuelsamid said. "Between the two of them, I think they could generate some scale for whatever they're doing, sharing component costs, development costs across electrical platforms," he said. More electric vehicles also would help FCA meet pollution and fuel economy regulations in Europe. As far as autonomous vehicles, neither company is among the leaders, Abuelsamid said. But that's a technology that's years into the future, giving them time to share the huge expenses and catch up together. FCA also has alliances with other companies such as Google spinoff Waymo that could bring autonomous vehicle technology to the market when ready, Abuelsamid said.