Fiat SpA secured full ownership of Chrysler Group LLC in a $4.35 billion agreement that will conserve the Italian company’s cash while creating a global carmaker with better scale to take on General Motors Co.
Chrysler CEO Sergio Marchionne drove the first new Jeep Grand Cherokee off the line at a ceremony on May 21, 2010, echoing Bob Lutz's famous roll-off 18 years earlier. This time, the breakthrough did not come via a glass wall. Rather, it was what the boss had to say.
Ron Bloom is back in Detroit two years after helping run President Barack Obama’s auto-industry team. This time, he took one role defending the city’s workers and another that puts him at odds with carmaker employees.
Fiat SpA Chief Executive Officer Sergio Marchionne hired Ron Bloom, who helped run President Barack Obama’s auto-industry team, to advise the carmaker on buying the rest of Chrysler Group LLC, people familiar with the matter said.
As a boy, Ron Bloom spent summers at Habonim camps, Jewish youth programs modeled on Israel’s kibbutzes that stressed the value of manual labor and social justice. As a teen he boycotted green grapes in support of Cesar Chavez , the farmworkers’ union leader.
Fiat SpA, the majority owner of Chrysler Group LLC, threatened to pull back from future commitments to the American carmaker if a health-care trust succeeds in selling its stake in an initial public offering.