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Fiat pondering swallowing rest of Chrysler, US IPO

At the moment, Fiat is in court with the United Auto Workers, waiting for the justice system to provide some guidance on a fair price for 41.5-percent of Chrysler it doesn't own. Fiat owns 58.5 percent of the company and wishes to buy the remainder, which is owned by the union's VEBA retiree trust, but the Italian company and the UAW are on different sides of the galaxy when it comes to assigning a fair price to that outstanding stake.
Naturally, Fiat CEO Sergio Marchionne is considering his options. A new report in the The Wall Street Journal says one of the scenarios being considered now is - depending on the outcome of the court case - to purchase the 41.5-percent stake and then issue an IPO to recoup some of the cost. About two months ago, Marchionne put the odds of an IPO for a wholly combined Fiat/Chrysler at 50 percent. Even with the WSJ report, it's not clear if those odds have changed.
The current company structure leaves a lot of options as to how a potential IPO could be issued, but it's said that Marchionne is against it, preferring "to be one company," under Fiat, indivisible. If Fiat is finally able to purchase all of the Pentastar, it would get access to Chrysler's war chest, pegged at $11.9 billion at the end of Q3 in 2012, and that money can't come soon enough for a brand taking a beating in Europe and delaying product over cash concerns.

Fiat Panda Cross is a tiny off-roader for city and country

Fiat already offered its compact Panda in a slightly off-road oriented 4X4 trim, but at the 2014 Geneva Motor Show it's debuting the Panda Cross that takes the style even farther. The Panda Cross is meant to be a utilitarian hatchback that drivers can use in the dirt if the need arises.
The Cross comes standard with an all-wheel-drive system with a standard electronic-locking differential, and for added traction, drivers can lock the diff below 30 miles per hour. Power is provided by either a 1.3-liter diesel four-cylinder with 80 horsepower and 140 pound-feet of torque or the 900-cc turbocharged two-cylinder with 90 hp and 107 lb-ft. Both engines are mated to a six-speed manual.
On the outside, the Panda Cross gets a new front air dam that looks like drilled metal and fog lights integrated into the front end. The rear is reworked with chrome tailpipes and a bumper painted to look like a skid plate. The interior is a mix of fabric and pleather seats, plus a copper-colored dashboard. The Panda Cross will be on sale in Europe this fall, but don't expect to see it Stateside. Feel free to read more in the press release below.

Marchionne offers belated apology for 'wop engine' comment

Automotive News reports Fiat-Chrysler CEO Sergio Marchionne has issued a written apology for his comments regarding his decision to stick with an Italian engine for the upcoming Alfa Romeo 4C. As you may recall, back in January, Marchionne was quoted as saying, "I cannot come up with a schlock product, I just won't. I won't put an American engine into that car. With all due respect to my American friends, it has to be a wop engine." The CEO penned an apology to the Italian American ONE VOICE Coalition for using the racial epithet, saying that he made the comment in jest. Marchionne also said he realizes his remarks were unacceptable.
ONE VOICE, an organization aimed at fighting discrimination and stereotyping of Italian Americans, thanked Marchionne, Chrysler and Fiat for the apology. Marchionne is an Italian-born Canadian citizen, and he's gotten in trouble for other comments in the past. In 2011, he called high interest rates Chrysler was paying to the Canadian government "shyster rates." He apologized a day later.