"Ferrari to be purchased by GM? " - Autosport

http://www.autosport.com/newsitem.cfm?id=18991&series=41 Ferrari to be purchased by GM? "Fiat Plans To Float Ferrari Company loss sparks floatation Fiat group has announced its intention to float the Ferrari Maserati Sport and Racing Cars arm in the wake of heavy first quarter losses. Fiat registered a loss of 529 million Euros, considerably worse than anticipated, compared to a profit of 193 million Euros for the same period in 2001. Much of this loss was put down to poor road car sales, some 11.2 percent down on last year. Paolo Fresco, executive chairman of Fiat, announced the plan to list Ferrari at its AGM in Turin. "We expect these two transactions to generate proceeds of at least 1 billion Euros," he said, "And in the case of Ferrari, a large capital gain." Although Fiat will retain control of Ferrari after the listing, there are suggestions among experts that the parent company may be forced to sell Fiat Auto, its core car-making business, to General Motors. GM already own 20 percent of Fiat Auto, and there is an agreement in place allowing Fiat to sell its subsidiary entirely to the automotive behemoth. Fiat owns 90 pecent of Ferrari Maserati Sport and Racing Cars, with the remaining 10 percent remaining in the hands of the Ferrari family. The float will have no immediate effect on the Ferrari Formula 1 team. However, any future sell-off to GM may change the situation, as the company would have to integrate the F1 project into its own motorsport portfolio.

player one ([email hidden]) wrote on 21 May 2002: <Snip> > The float will have no immediate effect on the Ferrari Formula 1 > team. However, any future sell-off to GM may change the situation, > as the company would have to integrate the F1 project into its own > motorsport portfolio. Hmmm... bringing back John Cleland, and renaming the cars Vauxhalls? ;- ) -- "After all, a mere thousand yards... such a harmless little knoll, really" - Raymond Mays on Shelsley Walsh. The GPL Scrapyard: Back again! http://www.btinternet.com/~gplscrapyard

Great now we will see the Chevy Indy motor rebadge a Ferrari. Then GM in one fluid motion will screw up Ferrari's F1 team. Dave player one <[email hidden]> wrote in message news:[email hidden]...

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> http://www.autosport.com/newsitem.cfm?id=18991&series=41 > > Ferrari to be purchased by GM? > > "Fiat Plans To Float Ferrari > > Company loss sparks floatation > > Fiat group has announced its intention to float the Ferrari Maserati Sport > and Racing Cars arm in the wake of heavy first quarter losses. > > Fiat registered a loss of 529 million Euros, considerably worse than > anticipated, compared to a profit of 193 million Euros for the same period > in 2001. Much of this loss was put down to poor road car sales, some 11.2 > percent down on last year. > > Paolo Fresco, executive chairman of Fiat, announced the plan to list > Ferrari at its AGM in Turin. "We expect these two transactions to > generate proceeds of at least 1 billion Euros," he said, "And in the > case of Ferrari, a large capital gain." > > Although Fiat will retain control of Ferrari after the listing, there are > suggestions among experts that the parent company may be forced to sell > Fiat Auto, its core car-making business, to General Motors. GM already > own 20 percent of Fiat Auto, and there is an agreement in place > allowing Fiat to sell its subsidiary entirely to the automotive behemoth. > > Fiat owns 90 pecent of Ferrari Maserati Sport and Racing Cars, with the > remaining 10 percent remaining in the hands of the Ferrari family. > > The float will have no immediate effect on the Ferrari Formula 1 team. > However, any future sell-off to GM may change the situation, > as the company would have to integrate the F1 project into its own > motorsport portfolio. > >

C'mon, yer being a little rough. Ford did well with Jaguar. Only half of em' look like a Taurus. :) "DAVID J ROBINSON" <[email hidden]> wrote in message news:dEDG8.761$[email hidden]...

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> Great now we will see the Chevy Indy motor rebadge a Ferrari. Then GM in > one fluid motion will screw up Ferrari's F1 team. > > Dave > player one <[email hidden]> wrote in message > news:[email hidden]... > > http://www.autosport.com/newsitem.cfm?id=18991&series=41

Yeah Jag is just setting the world on fire in F1 Dave GMpartsguy <[email hidden]> wrote in message news:k3EG8.80967$[email hidden]... > C'mon, yer being a little rough. Ford did well with Jaguar. Only half ofem' > look like a Taurus. :) > "DAVID J ROBINSON" <[email hidden]> wrote in message > news:dEDG8.761$[email hidden]... > > Great now we will see the Chevy Indy motor rebadge a Ferrari. Then GMin

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> > one fluid motion will screw up Ferrari's F1 team. > > > > Dave > > player one <[email hidden]> wrote in message > > news:[email hidden]... > > > http://www.autosport.com/newsitem.cfm?id=18991&series=41 > > >

I was just comparing in a humorous way, the way corporate giants are killing.....ah, forget it. all this explaining aint making it any funnier :) > Yeah Jag is just setting the world on fire in F1

player one wrote in rec.autos.simulators, news:[email hidden]:

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> http://www.autosport.com/newsitem.cfm?id=18991&series=41 > > Ferrari to be purchased by GM? > > "Fiat Plans To Float Ferrari > > Company loss sparks floatation > > Fiat group has announced its intention to float the Ferrari Maserati > Sport and Racing Cars arm in the wake of heavy first quarter losses. > > Fiat registered a loss of 529 million Euros, considerably worse than > anticipated, compared to a profit of 193 million Euros for the same > period in 2001. Much of this loss was put down to poor road car sales, > some 11.2 percent down on last year. > > Paolo Fresco, executive chairman of Fiat, announced the plan to list > Ferrari at its AGM in Turin. "We expect these two transactions to > generate proceeds of at least 1 billion Euros," he said, "And in the > case of Ferrari, a large capital gain." > > Although Fiat will retain control of Ferrari after the listing, there > are suggestions among experts that the parent company may be forced to > sell Fiat Auto, its core car-making business, to General Motors. GM > already own 20 percent of Fiat Auto, and there is an agreement in > place allowing Fiat to sell its subsidiary entirely to the automotive > behemoth. > > Fiat owns 90 pecent of Ferrari Maserati Sport and Racing Cars, with > the remaining 10 percent remaining in the hands of the Ferrari family. > > The float will have no immediate effect on the Ferrari Formula 1 team. > However, any future sell-off to GM may change the situation, > as the company would have to integrate the F1 project into its own > motorsport portfolio. > >

Jeezzzzzz, ... I bet that Enzo is turning in his grave!!! :O(

player one wrote in rec.autos.simulators, Jeezzzzzz, ... I bet that Enzo is turning in his grave!!! :O(