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Autoblog Podcast #380

Episode #380 of the Autoblog podcast is here, and this week, Dan Roth, Chris Paukert and Seyth Miersma talk about the Fiat-Chrysler five-year plan, the seeming demise of the Nissan Cube, and proposed legislation to require speed limiters with a 68-mph maximum on America's tractor trailers. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #380: Topics: Fiat-Chrysler five-year plan Nissan Cube on the way out? Big rig speed limiters coming? In the Autoblog Garage: 2015 Mercedes-Benz S63 AMG 2014 Chevrolet Sonic RS Sedan 2014 Honda Odyssey Touring Elite Hosts: Dan Roth, Chris Paukert, Seyth Miersma Runtime: 01:44:17 Rundown: Intro and Garage - 00:00 Fiat Chrysler Plan - 29:40 Nissan Cube - 01:07:33 Semi Speed Limiters - 01:17:33 Q&A - 01:27:35 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Auto News Earnings/Financials Plants/Manufacturing Podcasts Rumormill Chevrolet Chrysler Dodge Fiat Jeep Nissan nissan cube speed limiters

FCA employees likely to reject UAW contract

For a brief, blissful glimmer of time, it seemed like we might have a period of labor harmony here in the Motor City. The United Auto Workers and Fiat Chrysler Automobiles, the UAW's lead bargaining company, came to a pending agreement that seemed promising enough that union president Dennis Williams, shown above with FCA boss Sergio Marchionne, thought it'd be ratified by the membership. Well, he was wrong. It's widely expected that FCA's rank-and-file workforce will vote against the deal, which gave workers a raise, would establish a VEBA-style healthcare pool, and deliver a $3,000 bonus for signing the agreement, while retaining the much-hated two-tier wage system. According to The Detroit News, it'd be the first time in over three decades the union's general population didn't follow its leadership's recommendation. Two of FCA's big US facilities, Toledo Assembly and Sterling Heights Assembly, overwhelmingly voted no, with The News saying they "mathematically sealed the deal's fate." According to The News, UAW Local 1700 President Charles Bell said roughly 90 percent of SHAP's 3,000-plus union workforce voted "no" on the deal. Should the pending agreement fail as it's expected to, there are three potential avenues for the union. First, as The News details, both sides could return to the bargaining table. Second, FCA workers could hit the picket line. Finally, union leadership may opt to focus its firepower on General Motors or Ford. It's a good thing we aren't the gambling sort, because those all seem very much within the realm of possibility. Not surprisingly, rank-and-file UAW members have taken issue with the survival of the two-tier wage structure, while others simply think that union employees deserve a wage hike. There was also, we're betting, some serious concerns over the reshuffling of production that would come with a new FCA/UAW deal. As previously reported, no fewer than four UAW facilities would have their vehicle lines shuffled around, including both SHAP and Toledo. Expect more news as soon as the UAW formally announces the results of its FCA voting. News Source: The Detroit NewsImage Credit: Paul Sancya / AP Plants/Manufacturing UAW/Unions Chrysler Fiat FCA toledo sterling heights

Chrysler files for IPO

Chrysler has had a lot of owners over the past few years alone, from Daimler to Cerberus to Fiat and the federal government. But it could be poised to gain some more before long. Like, a lot more.
The automaker has just announced that it has filed with the US Securities and Exchange Commission to issue an Initial Public Offering of common stocks. Chrysler hasn't revealed how many shares will be offered and at what price, however the shares in question will not come out of Fiat's approximate 60% majority shareholding but instead out of the 40% minority stock held by the UAW's VEBA retiree healthcare trust. Reports suggest that the IPO, which is being handled by JP Morgan, could encompass approximately 16% of Chrysler stock, initially valued at approximately $100 million.
Lest you think this is all part of Sergio Marchionne's grand plan to consolidate Chrysler and Fiat, the two auto groups over which he presides, think again. The filing, which still needs to be approved by the SEC, comes at the insistence of the UAW. Negotiations between Marchionne's management team and the union over Fiat's acquisition of the VEBA shares have stalled. If they manage to come to an agreement, however, the IPO would likely be taken off the table. So don't go calling your broker just yet, but you can analyze the official announcement below.