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Zetsche's CEO tenure extended through 2016 at Daimler

There appear to be two takes on Daimler CEO Dieter Zetsche having his contract extended for three more years, to 2016. A report in The Detroit News quotes the chairman of Daimler's supervisory board, Manfred Bischoff, talking up the stability at the top, "With today's extensions of the contracts of Dieter Zetsche and Thomas Weber, we are maintaining the important continuity at the top executive level." Bischoff also stated that that Zetsche has a plan to "further enhance Daimler's overall performance."
Over at Reuters, though, the three-year extension was seen as a lack of complete confidence in Zetsche's plans, since his contract was supposedly meant to be extended by five years. A spokesman said the board decided to extend executive contracts by only three years if the person was 60 or would turn 60 during the contract, but that was news to observers. Zetsche wants to make Mercedes-Benz the top selling luxury manufacturer globally by 2020, but has fallen to third place behind Audi and BMW. It hasn't held the top spot 2005, and investors judged it valued at half that of BMW at the end of 2012 once Daimler's truck business was subtracted.
Analysts cites the fact that Daimler stock hasn't bested its rivals but twice in twelve years, and that the company revised its profit target downward last year by nearly one billion euros, warning of stagnant earnings this year and will miss its original margin target for 2013.

Does Alex Rodriguez' Mercedes dealership have a PR problem?

Alex Rodriguez, in case you haven't heard, is seemingly the new Most Hated Man In Baseball, ostensibly replacing commissioner Bud Selig (for now). Rodriguez was slammed with a 211-game suspension due to his role in the MLB's latest steroid scandal in which "A-Roid," as fans have taken to calling the former superstar, was cited with steroid use and attempts to hide his involvement by "engaging in a course of conduct intended to obstruct and frustrate" the investigation, according to the MLB's official report.
Why is this on a car site, then? Because Rodriguez' name is attached Alex Rodriguez Mercedes-Benz in League City, TX. An Ad Age report cites Mercedes-Benz USA in saying that A-Rod owns "about half'" of the dealership. Mercedes, for what it's worth, isn't going to any to any lengths to distance itself from its dealership or its controversial namesake, saying, "We never promoted the fact that A-Rod owned a dealership, so there's really nothing to 'distance' ourselves from. And since his activity is not illegal but rather prohibited by MLB, there's nothing actionable here."
With the scandal still a fresh piece of news and A-Rod's pending appeal, it's difficult to tell what sort of effect, if any, his name will have on the dealership's sales. Ad Age contacted the GM of Alex Rodriguez Mercedes-Benz to get the dealership's view, but no calls were returned. According to Mercedes, any name change is up to Rodriguez and his partner(s) at the dealership. Somehow, though, we think A-Rod has other things to worry about beyond his dealership's name.

Formula 1 seeking independent engine supplier

Formula 1 could get a new engine supplier in the near future, if Bernie Ecclestone and the independent teams gets their way. According to Autosport, the FIA is soon to open the contract up for bids, and there are already several manufacturers that have expressed interest. Currently Mercedes, Ferrari, Renault, and Honda supply engines – both to their own premier teams (Red Bull and McLaren for the latter two) but also to other teams like Williams, Sauber, and Toro Rosso. Because the new turbocharged V6 hybrid power units cost those four suppliers so much to develop, they're charging their customer teams big bucks – around $20-30 million per season – to provide the engines. These costs are much higher than the $10 million or so it used to cost to purchase a V8 engine under the previous regulations. Ecclestone figures it's time to bring in another supplier who will not run their own team and not play favorites, but will supply engines to private teams at a lower cost. There are already a number of potential suppliers under consideration. One of them is said to be Cosworth, which has a long history in the series stretching back to 1963. The British firm stepped back between 2007 and 2009, returned in 2010, and dropped out again after 2013. The development could be of particular benefit to Red Bull, which has been unable to find an engine supplier and could be forced out of the series as a result. The team has long been powered by Renault, but that relationship has grown sour. And the other three engine manufacturers have not been forthcoming in offering an alternative arrangement for the team. Related Video: News Source: AutosportImage Credit: Cosworth Motorsports Ferrari Honda Infiniti McLaren Mercedes-Benz Renault F1 engine contract