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Autoblog Minute: New Civic, FCA UAW Agreement, Frankfurt

FCA reaches a tentative agreement with the UAW, Honda reveals the all-new 2016 Civic, and the Frankfurt Motor Show dazzles us again. Autoblog senior editor Greg Migliore reports on the Weekly Recap edition of Autoblog Minute. Show full video transcript text [00:00:00] FCA reaches a tentative agreement with the UAW, Honda reveals the all-new 2016 Civic, and the Frankfurt Motor Show dazzles us again. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. FCA reached a tentative labor agreement with UAW leadership. The major focus of the new deal reportedly includes: the eventual elimination of the two-tier pay scale [00:00:30] and pooling worker health care. Now that a leadership agreement is in place, the deal will be sent to FCA's rank-and-file. FCA has about 36,000 hourly employees. We got a first look at the interior and exterior of the 10th-generation Civic. Honda expects the new sedan to dominate the C-segment when it hits dealerships later this fall. Civic coupe, five-door hatchback, Si and Type R will all come later. The 2015 Frankfurt Motor Show is in the books and there was a lot of news to get excited about. [00:01:00] Porsche introduced a fully electric concept car in the Mission E. If they make this car, Porsche could give Tesla nightmares. We also saw SUVs from Jaguar and Bentley. There were two beautiful Italian convertibles from Ferrari and Lamborghini. Meanwhile, Mercedes introduced a concept of their own in the IAA - a vehicle that experiments with adaptable aerodynamics. Those are the highlights from the week that was. Be sure to check out my full recap this Saturday. Plus we'll have some added insight on General Motors' deal to [00:01:30] avoid federal prosecution. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. UAW/Unions Frankfurt Motor Show Bentley Chrysler Ferrari Honda Jaguar Lamborghini Mercedes-Benz Porsche Rolls-Royce Tesla Convertible SUV Concept Cars Electric Supercars Autoblog Minute Videos Original Video porsche mission e concept

Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

Mercedes sues Ferrari-bound F1 engineer for stealing secrets

Mercedes is suing one of its Formula One engineers, one Benjamin Hoyle, claiming he was planning to take sensitive data to a competitor. An experienced powertrain engineer, Hoyle came to Mercedes AMG High Performance Powertrains in 2012 with previous experience at Prodrive and Cosworth. One of four team leaders at the company, Hoyle headed up the performance application department until he notified his employers of his intention not to seek renewal of his contract that expires at the end of this year. Once they found out that Hoyle was switching to Ferrari, the higher-ups at Mercedes reassigned him to other, less sensitive duties, however Hoyle was reportedly discovered accessing race reports and other sensitive data relating to the performance of the team's engines. In response, Mercedes has filed suit against Hoyle, claiming that he "and potentially Ferrari have gained an unlawful advantage." The German automaker is seeking the return of all documents and the payment of its legal fees. It also seeks to prevent Hoyle from working for another F1 team throughout next season. Mercedes AMG High Performance Powertrains is the Daimler's F1 engine division. Based in Brixworth, UK, it was founded back in 1983 together with Ilmor before Mercedes bought it outright. Aside from the company's own works team, the outfit this year powered Williams, Lotus, and Force India, and previously worked with McLaren as well as Sauber. This is not the first time that a case of industrial espionage has emerged in F1. A similar controversy erupted in 2007 surrounding engineers Nigel Stepney and Mike Coughlan. The highly publicized incident became known as "Spygate" or "Stepneygate" and involved the illegal sharing of secrets between Ferrari, McLaren, and Renault. News Source: BloombergImage Credit: Martin Meissner/AP Government/Legal Hirings/Firings/Layoffs Motorsports Ferrari Mercedes-Benz F1 industrial espionage