Category Archives: Finance

I spent a lot of years watching this man chase windmills, and to his credit he found them. He has real charisma and an infectious belief in himself that has proven justified. He has saved not one but two basket case auto companies in Fiat and Chrysler. They still aren’t out of the woods yet, but whatever happens to them isn’t Sergio’s legacy. His legacy is that they lasted this long.

I’ve made a lot of jokes at his expense over the years. Watching him in action it’s hard not to. But this is a legend of a person. Get well Sergio. The world’s a better place with you in it.

 

THE question of who would replace Sergio Marchionne has been in the air for a year or more, ever since the boss of Fiat Chrysler Automobiles (FCA) announced that he would step down in 2019. But the way the answer came was both shocking and sad. Complications after a routine operation around three weeks ago…

via Fiat Chrysler appoints a new boss — Business and finance

Sink the Jones Act!

Hear hear!

First, grant at least a five-year waiver of the act to Puerto Rico. This would speed the island’s recovery. It would also test how best to regulate foreign-flag carriers, and provide data to show exactly what the act is costing.

Next, scrap the act’s “build-in-America” provision, as Senator John McCainand others have proposed. The global glut in container ships makes now a good time to replace the aging Jones Act cargo fleet with cheaper, cleaner vessels. Many components in “American-built” ships are already imported; some “American” shipbuilders and shipping lines are foreign subsidiaries.

Allow foreign-flag ships sailing from and then onward to foreign ports to deliver cargo to more than one U.S. port on a given coast. This would stimulate coastal commerce overall.

via Maritime Commerce Can Thrive Without the Jones Act