Thu Jan 12, 2017 3:58pm ESTComments Off on Fiat Fires Back: CEO Marchionne Calls EPA Allegation of Cheating Diesel Emissions “Unadulterated Hogwash”
Fiat Chrysler CEO Sergio Marchionne met with reporters Thursday to defend against an EPA claim that the diesel engines in Dodge Ram and Jeeps were cheating emissions.
Their leadership has a spine, it seems. He further elaborated that he would take draconian measures to punish any cheaters within his organization:
Fiat Chrysler CEO Marchionne on any rogue, lawbreaking employees: "If I found a guy like that, I would have hung them on a door," he said.
The Italian-American car maker issued a statement claiming the company has spent months providing information to the EPA in hopes of explaining their emissions control technology to agents at the EPA.
The EPA today accused Fiat Chrysler of using software on 100,000 Jeep and Ram models equipped with a 3.0-liter EcoDiesel V6 engine that reduced NOx emissions during lab certification testing, but allowed the engines to give off more emissions in real-world driving.
FCA, in its statement, also appeared to illustrate where both parties are at a disagreement. The official regulations for a defeat device prohibits the use of an auxiliary emission control device (AECD) “unless … the need for the AECD is justified in terms of protecting the vehicle against damage or accident.”
The good news is leadership at Fiat is actively addressing the EPA claim against them. Wall Street has rewarded their Italian, aggressive hand gesturing vivacious rebuttal by appreciating the share price off its lows. The bad news is the stock is still ending Thursday down nearly -10%
Agents at the Environmental Protection Agency intend to accuse the polenta eaters at Fiat Chrysler of using software that allowed heavy diesel emissions to spew from the exhaust pipes of their U.S. trucks and SUVs.
Shares of the company $FCAU are being slaughtered in early Thursday trade, currently down more than -15% at the New York Stock exchange. Reuters with the details:
The EPA told the automaker it believes its undeclared emissions control software allowed vehicles to generate excess pollution in violation of the law. Fiat Chrysler declined to comment.
Its U.S.-listed shares were down 9 percent.
The EPA will announce the findings at an 11 a.m. conference call. It comes amid rising scrutiny by EPA of automaker emissions after Volkswagen AG admitted to cheating diesel emissions tests in 580,000 U.S. vehicles.
The EPA has for months declined to certify Fiat Chrysler’s 2017 diesel vehicles for sale in the United States.
Investors are fleeing from the Italian auto-conglomerate ahead of what is likely to be damning evidence from the EPA against Dodge pickup trucks. Fiat officially aquired Chrysler back in January ’14. The two companies have been allies since mid-2009 when the gluttonous American auto group went bankrupt—shortly after the Germans abandoned the Neon makers.
Funny aside–yours truly worked for the failing Chrysler group back in 2008 and gave a provoking presentation to 100s of executives, telling them they were fucked, and that I had no interest in going down with the ship.
The blow to Chrysler comes just days after the god damned Honda Ridgeline was named 2017 ‘Truck of the Year’ at the Detroit auto show.
Today is probably a fun day to peruse the empty hallways of Chrysler’s insanely oversized Auburn Hills tech center.
Diesel cars must adhere to strict EPA guidelines if they are to be driven in the United States, and it appears the fascists at Fiat Chrysler could not remain complaint.
Tue Jan 10, 2017 1:18pm ESTComments Off on General Motors Spikes Higher Tuesday After Adding $5B To Share Buyback Plan
Share of government bail-out entity General Motors are spiking higher Tuesday after the car maker announced they will add $5 billion dollars to their buyback plan.
You are witnessing the real catalyst to a stock on Wall Street, artificial financial crap moves, not innovation. But, alas, when dealing with a giant, shouldn’t exist (at least not in this capacity), type-business like $GM, it is tough to innovate.
A reversion to the mean is more likely.
That is, unless you do some financial funny business to stimulate the investor class.
The announcement came during the Deutsche Bank Auto Conference, where according to Benzinga the company also said they will, “have an active voice as NAFTA policies shift.”
There is one car to get excited about from Government Motors, however. At least, if you’re into efficiency and love planet earth—look at this kick ass Chevy Cruze. It’s diesel and is aiming to achieve 50 miles-per-gallon:
It may not arouse you visually, but a compact diesel offering has been missing from US fleets for decades. Instead you had to go to the Germans if you wanted to drive a diesel car in USA.
The share buyback is an admission by GM that they cannot think of a more fruitful use for their (our, yours, what?) money.
The most iconic police chase car of the 90’s is coming back. For real, Ford held a press conference Monday morning at Joe Louis Arena and said they’re bringing back the Bronco:
“We’ve heard our customers loud and clear. They want a new generation of vehicles that are incredibly capable yet fun to drive,” said Joe Hinrichs, Ford’s president of The Americas. “Bronco will be a no-compromise midsize 4×4 utility for thrill seekers who want to venture way beyond the city.”
Ford said the car will come out in 2020. It looks ultra-violent:
According to the Bronco6g website, the SUV made infamous by OJ Simpson will be built in ride-or-die Michigan, which ought to please out President-elect.
Tech Insider had a front row seat at the unveiling of the FF 91, an electric car slated as the first production car for Faraday Future, which is a car company named after a scientist.
Wow, cool idea, to name a car company after a scientist.
Faraday was a bad ass scientist, don’t get me wrong. It’s just that the whole idea of some global enterprise, funded by the Chinese, desperately trying to usurp Tesla Motors via poached talent and technology feels very Alibaba.
And along those lines—you get what you pay for.
The FF 91 presentation was an abomination. Within the first minute they identified themselves as having the feel of a ‘silicon valley startup’. Radical, so your company is teaming with over-entitled libtards with dumb names like Culture or Braxtynn?
Next, look at these presenters. Where’s the sex appeal? It’s gotta be sexy. Hips and nips, otherwise you don’t eat. Clearly they don’t understand the concept of a dog and pony show. This will hinder their ability to be a ‘Tesla rival’ bigly.
Perhaps imitation is the sincerest form of flattery, but don’t move on the GIGAFACTORY like a bitch. Trying to build an electric car plant in Tesla’s back yard, and failing, is grounds for a roast.
Finally, there are 12 FF 91 production cars.
There is nothing wrong with the spirit of competition. And to be frank, we’re all rooting for Faraday to rise to the ranks of Tesla rival. But it will be difficult as an adolescent Silicon Valley drama-fest. What Faraday lacks is clear.
This upcoming Sunday marks the official beginning of the Detroit Auto Show, and despite it being the second consecutive year Tesla Motors will not be in attendance, there are still some modestly interesting presentations worth seeing—mostly in the automated car department.
The Detroit News is loosely promising several automated or semi-automated cars will be on display:
[…]more and more of the new production models on display at Cobo Center will be featuring the latest in semi-autonomous technologies capable of watching your blind spot, minding oncoming traffic as you back out of a mall parking lot and even slamming on the brakes automatically if you don’t respond quickly enough to a potential collision.
If it weren’t for the public’s fascination with autonomous vehicles, the lack of a presence from Tesla would likely keep 80% of the population from braving the arctic conditions that exist in and around Cobo Hall (situated on the Detroit River aka cold AF).
Tesla motors skips the Motor City because they are mistreated by the state of Michigan, whose politicians are fighting a losing battle to protect car dealerships—the worst cadre of charlatans in existence. In other words, they don’t like change and they’re trying to bureaucratically resist it like a bunch of bitches.
Expect lots of auto news to come out over the next few weeks, with much of it focusing on driverless cars. As for news on Tesla, well, it won’t be coming out of Detroit.
Tue Jan 3, 2017 7:49pm ESTComments Off on Ford Bends The Knee; Cancels Plan To Build Billion Dollar Mexico Plant
Despite Ford’s CEO Mark Fields claim that the company would have decided to axe plans to build a $1.6B plant in Mexico regardless, it is abundantly clear that their management team is submitting to pressure from President-elect Trump.
Fords [sic] thinks the opportunity all the sudden is better domestically, as if America is becoming great again for some reason they didn’t anticipate back in May when they began planning the Mexican factory.
The automaker would have made the same decision even without Trump’s involvement, Fields told Bloomberg Television today. U.S. buyers are simply not as interested in the small cars that are being built in Mexico, while electric vehicles and hybrids have the potential for growth, he said.
“It is the wrong time to build new plants in Mexico,” Erik Gordon, a professor at the University of Michigan’s Ross School of Business, said in an e-mail. Ford will save money, “American jobs, and will avoid the risk of a border tax and a smack in the face from the new president.”
Wall Street rewarded the second-largest automaker for pivoting away from Mexico, $F shares were up nearly +4% Tuesday.
Overall, however, it paints a company that is behaving in a reactionary way. Notice how Fields now wants to pursue the electric car market? Could it be because Elon Musk (all Praise and Glory to The Leader) was included in Trump’s new strategic team?
Either way, this is good news for Michigan as the company is projecting the move will save about 3,700 jobs in the Flat Rock area. This is the world Ford lives in–where they assume a beta role in the auto industry and do what they’re told. Acquiescence to the Leader(s). And it might just work.
The State Department issued a statement to US citizens in Turkey urging them to avoid the area surrounding the US Embassy due to an “ongoing security incident”.
Ankara, #Turkey – ongoing security incident near US Embassy. All US citizens should avoid area near Embassy compound until further notice. pic.twitter.com/5EABdgBO4o
Former British ambassador to Uzbekistan and close WikiLeaks associate Craig Murray said he has met the person who gave over 20,000 DNC emails to WikiLeaks and they are not Russian.
The Guardian reached out to Murray while reporting about how the CIA concluded Russia helped Trump win, and he called literal ‘bullshit’ on the intelligence agency’s claim:
“I know who leaked them,” Murray told The Guardian. “I’ve met the person who leaked them, and they are certainly not Russian and it’s an insider. It’s a leak, not a hack; the two are different things.”
He then took to his own blog to defend his claims, and while he sounds convincing on paper, there is little chance he will be taken seriously.
Do Julian Assange and I have a reputation for truthfulness? Well in 10 years not one of the tens of thousands of documents WikiLeaks has released has had its authenticity successfully challenged. As for me, I have a reputation for inconvenient truth telling.
Murry believes this entire claim is being used by global neocons to ensure a conflict against Russia:
The worst thing about all this is that it is aimed at promoting further conflict with Russia. This puts everyone in danger for the sake of more profits for the arms and security industries – including of course bigger budgets for the CIA.
During his interview with The Guardian, Murry also notes that the US government has historically done an excellent job of extraditing and arresting hackers. Thus, if the CIA knows who is behind these actions, they would have arrested the hacker already.
Does anyone know if this is real? Bloomberg published an open letter Wednesday from the man who owns Foxconn, the work camp where iPhone’s are assembled.
Read this. Terry Gou sounds alpha AF:
Dear Mr. Trump,
You don’t know me but I’m Terry Gou, the man who makes your iPhone.
Let me start by congratulating you on the election. Your victory made me consider running for office myself. Next time you talk with the president of Taiwan, it might be me on the other end of the line.
We have a lot in common, you and I. We’re both billionaires (although I am richer), we both like to build things, we’re both married to gorgeous younger women, and we both hate Wall Street.
I know that you’ve been telling your constituents that you’re going to create a lot of jobs, so I want to give you some advice. First, you don’t actually have to create any jobs, you just have to make people think you’re going to create them. I am sure you’re familiar with the concept.
Actually, I can help you with that. If you look at Brazil, Indonesia, India and half a dozen Chinese provinces, you’ll see that my work speaks for itself.
Take Indonesia, one of my proudest achievements. Oh no, I haven’t built a single iPhone there and probably never will. During closed-door discussions, they allowed themselves to believe I might invest $10 billion in a mobile-phone factory. It’s not my fault some over-eager politician, keen to burnish his reputation as a can-do leader, blabbed to the media.
All I need to do is lay out my demands and watch while the bureaucrats and politicians argue about whether they can afford to have me or risk falling short on a campaign pledge.
So that’s where you and I need to talk. I hear you’ve been telling people you’re going to get Apple to build stuff in America. Well, you see, Tim Cook doesn’t build things, I do. In fact, I got $75 billion in revenue from them last year.
I am a doer, Mr. Trump. I get things done. When Apple told me to start making iPhones in Brazil to get around import tariffs, I made it happen. It didn’t create much employment, mind you, because I just exported pre-fabricated iPhones for the locals to slot together — kind of like Lego — but it got the job done. And by job, I mean kept Apple’s and Brazil’s leaders happy. And who do you think paid for it? Not me.
If you want iPhones to be made in America, I can make that happen, too. Heck, I can set up a production line in Trump Towers if you like, but the costs will be yuuuge. I have to cover my expenses, which include factories, labor and transport. You see, I don’t manufacture in China just because it’s cheaper, but because thousands of suppliers are there, within spitting distance of my factories and the one million people I employ during peak season.
I can deploy more robots in the U.S., sure, but it can take months to train them whereas humans can be taught in a few hours. Besides, more robots means fewer jobs.
Bumping up your import tariffs won’t change the equation much, but give me tax breaks, subsidies to hire workers, cheap electricity and free land, and I’m sure we can come to some arrangement. Let me know what numbers you want to Tweet, and I’ve got your back.
But just remember: Like that wall you’re planning to build, somebody’s going to have to pay. And it won’t be me, let me tell you.
Best,
Terry Gou
Chairman, Foxconn Technology Group.
Mr. Gou doesn’t shy away from the fact that he occasionally employs a million seasonal laborers and is a master at gaming globalism for Apple. The world craves straight talkers. Perhaps this is an effective tactic in the People’s Republic of China also. He hints at running for office in a place where ‘fake news’ does not exist, only heavily censored news.
This has all the makings of a high powered billionaire showdown. The world is getting lit fam.
But I am confused, did the Foxconn owner actually write this letter or was it dreamed up by some shill at Bloomberg?
