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FCA withdraws its offer to merge with Renault

UPDATE: Fiat Chrysler Automobiles released a statement confirming that it has withdrawn its merger offer, saying "it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully." The full statement can be read below our original story, which continues below. Fiat Chrysler has withdrawn its $35 billion merger offer for Renault, the Wall Street Journal and Bloomberg News reported on Wednesday. A source said that FCA had informed Renault it had withdrawn the offer after Renault's board of directors failed to reach a decision on the merger during a meeting that ran late into the night Wednesday. Instead, the board granted the French government's request to postpone its vote. The government wanted time to persuade Renault's reticent alliance partner Nissan. Renault's board issued a press release that said simply that it was "unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote to a later Council." WSJ reported that Nissan's two members on Renault's board were balking, while the rest of the board favored the merger. The French government wouldn't it back the deal unless Nissan agreed to maintain its role in the Renault-Nissan alliance, sources said. Nissan had received little advance warning of the merger proposal and was balking. Apparently the French government thought Nissan could be brought around if given more time. "We should take our time to make sure that things are done well," French Finance Minister Bruno Le Maire told French television on Wednesday. When the French requested a delay and Renault's board granted it, FCA withdrew. The French state, which owns 15% of Renault, had also been seeking more influence over the merged company, firmer job guarantees and improved terms for Renault shareholders in return for blessing the $35 billion tie-up. The merger would have created the world's third-biggest automaker with combined sales of 8.7 million vehicles per year, and was intended to cut costs as the parties develop electric and autonomous vehicles. Read Fiat Chrysler Automobile's full statement below: FCA withdraws merger proposal to Groupe Renault June 5, 2019 , London - IMPORTANT NOTICE The Board of Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA), meeting this evening under the Chairmanship of John Elkann, has resolved to withdraw with immediate effect its merger proposal made to Groupe Renault.

Forget the stupid millennial pitch, the Chrysler Portal Concept is full of good ideas

Chrysler's statements on the Portal Concept are heavy on the millennial, as we previously mentioned. And as such, the six-passenger people hauler shown at CES 2017 has all the elements of a concept for the m-word generation - connectivity, cameras, and plenty of items with a "modular" adjective on them. But put aside the tired idea that millennials are different from other car shoppers for a moment, because the Portal Concept boasts a bunch of great design ideas that anyone would appreciate. The thing is that millennials are the widest chunk of population in the United States. As such, they're hard to define. It seems like someone at Chrysler realizes this, as the press release for the Portal states: "While millennials are a broad group of consumers at varying life stages, the Chrysler Portal concept is designed and engineered with all life stages and lifestyles in mind, including active/adventure, single, married/partnered, those with newborns and older children." In other words, this is a vehicle designed for all kinds of people that suits all kinds of needs. Spoiler alert: The best package for flexible hauling of people and cargo is a minivan. And that's what the Portal Concept is, albeit slightly smaller than the current Pacifica. Chrysler Portal Concept View 20 Photos It's an obvious angle, as Chrysler popularized the modern minivan. But with current vans ballooning in size, there's room for the same virtues in a smaller footprint. If it takes 360-degree cameras and a customizable light ring around the doors to convince people that a flat floor and movable seats are cool, so be it. It's the practical aspects of the Portal that we like best, not the throwaway concessions to connectivity and autonomy. The best, most practical feature in the Portal is its seating arrangement. The seats ride on two parallel tracks, and each folds skinny with the seat pan popping vertical, or low with the seatback down. All (save the driver's bucket) slide back for room in front, or vice versa for space in the rear. Integrated seatbelts further help the seating flexibility. Even in a more realistic production form this is a clever innovation, almost as good as the original Stow 'N' Go. The same goes for the panoramic, high-mount screen that shows the dashboard and a host of other informative bits of data.

Woman throws coffee at man over handicapped parking spot

A Toronto area busybody started a decidedly un-Canadian altercation over a woman illegally parking in a handicapped parking spot this week. He now regrets his decision to film it. On March 21, Ryan Favro confronted a young woman outside the Tim Hortons in Toronto as she approached her jeep with two cups of iced coffee. The situation quickly escalated, and ended with the woman hurling obscenities and both of her coffees at Favro before driving off. Favro quickly uploaded his video to Facebook where it quickly became viral, garnering more than a million views and spreading as far as New Zealand. Toronto Police caught wind of the video, which clearly shows the woman's face and the license plates of her Jeep, and issued her a warning. "We've cautioned her for assault and parking in a disabled spot, which is really what we can do under the circumstances," said Toronto Police spokesman Mark Pugash. Favro changed his mind about the public shaming by mid-week and, in a futile attempt to put the genie back in the bottle, he removed the video from his Facebook page. "I don't want to grind this woman into the ground," he said. "There has to be a way for her to recover." His attempt to walk back his video and make the situation go away have not been particularly successful, however. Although he took the original video down, it has been copied and posted so often by now that it has become impossible to completely erase it. His attempts to do so, and his post about it on Facebook, have received some mixed feedback. "If the guy was feeling remorse for publishing it [the video], perhaps he should not have posted it online and just go to police," said Facebook user Laura Dixon. Repeated requests by the Toronto Star to interview Favro have gone unanswered News Source: TheStar.com Chrysler Jeep SUV Off-Road Vehicles Videos parking toronto coffee parking lot handicapped parking