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Merged PSA and Fiat would retain all brands, Tavares says

By Elisa Anzolin and Gilles Guillaume PARIS/TURIN, Italy (Reuters) - Peugeot maker PSA Group and Fiat Chrysler would retain all of their car brands if their planned $50 billion merger goes ahead, the would-be chief executive of the combined group said on Friday. PSA CEO Carlos Tavares, seen as the architect of PSA's turnaround and in line to take the operational helm in the Fiat tie-up, said in a TV interview that the companies complemented each other well geographically and in terms of technology and brands. FCA derives 66% of its revenue from North America compared with only 5.7% for PSA, Refinitiv Eikon data shows. Europe remains the main revenue driver for PSA. "There's no doubt it's a very good deal for both parties. It's a win-win," Tavares told France's BFM Business, in his first interview since the French and Italian companies announced plans to create the world's fourth-largest auto maker last week. Fiat Chrysler (FCA) Chairman John Elkann, who would chair the combined group, said on Friday at an event in Turin that the 50-50 share merger would help the Italian carmaker "seize great opportunities." The deal, which would help the firms pool resources to meet tough new emissions rules and investments in electric and self-driving vehicles, as well as counter a broader downturn in car markers, is still at an early stage. PSA and Fiat have said they aim to reach a binding outline in the coming weeks, but still face questions over potential job losses, as well as scrutiny over whether the transaction favors one party more than the other. Tavares said the brands that would come under the combined group's umbrella — PSA's five passenger car nameplates include Citroen, Vauxhall and Opel, while FCA has nine, including Fiat, Alfa Romeo, Maserati, Chrysler, Dodge and Jeep — were all likely to survive. "As of today, I don't see any need to scrap any of the brands if the deal came to pass. They all have their history and their strengths," Tavares said. Few carmakers have as large a portfolio, with German rival Volkswagen Group counting 10 passenger brands, if newer Chinese ones such as electric vehicle label Sihao are included. The merger will also require approval from anti-trust authorities. Tavares said he did not expect the companies to have to make major concessions to meet competition rules, but added they were ready to do so, without giving details.

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

Labor Day: A look back at the largest UAW strikes in history

American made is almost an anachronism now, but good manufacturing jobs drove America's post-war economic golden age. Fifty years ago, if you held a job on a line, you were most likely a member of a union. And no union was more powerful than the United Auto Workers. Before the slow decline in membership started in the 1970s, the UAW had over 1.5 million members and represented workers from the insurance industry to aerospace and defense. The UAW isn't the powerhouse it once was. Today, just fewer than 400,000 workers hold membership in the UAW. Unions are sometimes blamed for the decline of American manufacturing, as companies have spent the last 30 years outsourcing their needs to countries with cheap labor and fewer requirements for the health and safety of their workers. Unions formed out of a desire to protect workers from dangerous conditions and abject poverty once their physical abilities were used up on the line; woes that manufacturers now outsource to poorer countries, along with the jobs. Striking was the workers' way of demanding humane treatment and a seat at the table with management. Most strikes are and were local affairs, affecting one or two plants and lasting a few days. But some strikes took thousands of workers off the line for months. Some were large enough to change the landscape of America. 1. 1936-1937 Flint Sit-Down Strike In 1936, just a year after the UAW formed and the same year they held their first convention, the union moved to organize workers within a major manufacturer. For extra oomph, they went after the largest in the world – General Motors. UAW Local 174 president Walter Reuther focused on two huge production facilities – one in Flint and one in Cleveland, where GM made all the parts for Buick, Pontiac, Oldsmobile and Chevrolet. Conditions in these plants were hellish. Workers weren't allowed bathroom breaks and often soiled themselves while standing at their stations. Workers were pushed to the limit on 12-14 hour shifts, six days a week. The production speed was nearly impossibly fast and debilitating injuries were common. In July 1936, temperatures inside the Flint plants reached over 100 degrees, yet managers refused to slow the line. Heat exhaustion killed hundreds of workers. Their families could expect no compensation for their deaths. When two brothers were fired in Cleveland when management discovered they were part of the union, a wildcat strike broke out.