The longer that I am in this business, the more I realise that many of the people running car manufacturing companies have no sense of history. And by history, I almost mean last year, if not last week. There almost seems to be a hubris in ignoring George Santayana's pointed — and justifiably famous — quote that "those who cannot remember the past are doomed to repeat it".
And my, haven't we seen this bit of history in the automotive industry's past. Sergio Marchionne, CEO of Fiat and erstwhile American car maker Chrysler, wants another partnership, this time with someone in the Far East. The leading candidates would seem to be Mazda or Suzuki. It's all part of Marchionne's theory that only the largest shall survive the impending industry shake-up about to wreak havoc.
Marchionne remains committed to the ideal that bigger is always better. The combination of Fiat and Chrysler is still selling about 50 per cent too few cars for its sweater-wearing CEO, who sees eight million cars a year as the lower threshold of viability for a major player in the industry (by the way only, GM, Toyota and Volkswagen currently meet that criteria).
Meanwhile, General Motors, not satisfied with its resurgence to the top of the worldwide sales charts, has hooked up with PSA/Peugeot-Citroën to cure the travails of its perennial money-losing subsidiary, Opel. Of course, having the French telling the Germans how to improve efficiency is like the Italians explaining to Americans how to make more reliable cars. The saviour brings precious little to the table.
But while the merge and acquire theorem of success may make sense on a corporate ledger and in the heartless synapses of chartered accountants, it hasn't worked so well in real life. GM, for instance, has been a veritable smorgasbord of disparate car makers, some still current (Chevrolet, Buick, Cadillac, GMC and others), some recently departed (Saab, Saturn, Oldsmobile and Pontiac) and still others long forgotten (Mclaughlin, Oakland and countless more). Although the company has returned to what I am sure it sees as its rightful place atop the global sales chart, its success is hardly about the bigger-is-better motif. Indeed, quite the opposite, the company didn't return to the black until its recent, forced ditching of underperforming brands. Its recent success has more to do with jettisoning debt, contracts and loads of unloved model lines than any expansion of its portfolio.
It's the same for Chrysler. It seems like only yesterday that Daimler was welcoming the Auburn, Michigan-based firm into its bosom, only to have the entire merger of unequals fall apart in internecine jealousies nine years later. Does anyone really think that it is Fiat's superior management that is currently floating Chrysler's boat? Or, as is more likely, the American brand's shedding of debt and obligation through bankruptcy that is feeding the company's recent glorious turnaround?
Meanwhile, Ford, arguably the most successful of Detroit's once-mighty Big Three, became the darling of the motoring media largely because it dumped — voluntarily, in this case — all it extraneous brands. Aston Martin, Jaguar, Land Rover and Volvo were all sold/dispensed with/thrown-to-the-wolves, while Mercury was simply axed outright so that the parent might concentrate on its core brand (OK, two core brands, but many wish the Blue Oval would also deep six laggardly Lincoln as well). Even then — and still profitable — Mazda, one of the apples that Marchionne reportedly covets, was largely shunted aside.
The latest darling of the grandiose, Volkswagen, is finding managing so many disparate interests difficult. Under its wing are the brands Audi, Skoda, Seat, Bentley, Lamborghini, Bugatti and, of course, VW, a rather wide swathe of the market. And in fact, the buying spree at VW Group seems to be continuing; just this week, Audi has allegedly expressed an interest in buying, of all companies, Ducati, that Italian purveyor of monster motorcycles.
But remember three years ago when VW's takeover of Porsche was imminent? Well, the actual nuptials are still as elusive as a George Clooney "I do" and, indeed, VW's major-domo, Ferdinand Piech, is in trouble with German law-and-order types because a German court couldn't figure out whose interests he was serving when the whole mess went down (Piech served on the supervisory board of Porsche at the time of the imbroglio while also being the chairman of VW).
Meanwhile, the other apple of Marchionne's eye, Suzuki, is amid a separation from Volkswagen as acrimonious as any Kardashian divorce. The German and Japanese companies penned a stock-swap partnership back in 2009 but that fell apart when Suzuki approached, you guessed it, Fiat for a new diesel engine instead of relying on partner Volkswagen (if this is starting to sound like the plot to a bad episode of Coronation Street to you, you're not the only one).
The more you look at recent automotive history, the more the odds are against the success of mergers/partnerships, so much so that one has to wonder about the true motivation of these recent developments. I think GM's announcement of the Peugeot alliance is just GM doing what it has traditionally always done, trying to acquire expertise. And, likewise, I suspect that Marchionne's true rational for incessant acquiring/partnering is that he wants to dilute the importance of the troublesome Fiat division as much as possible (since he took over the Italian firm, he's been fighting with its unions and trying to move as much production as possible out of Italy). Indeed, things seem so desperate that Automotive News is reporting that Marchionne tried to broker an alliance between GM and Fiat (cue those soap opera metaphors again).
GM will not solve Opel's overcapacity production problem and declining market share by joining hands with similarly challenged Peugeot. And the solution to the problem of managing two disparate car companies with vastly different cultures is not to make it a three-way partnership. Dysfunctional partners do not a successful marriage make.
Confirmed%20bouts%20(more%20to%20be%20added)
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Western Clubs Champions League:
- Friday, Sep 8 - Abu Dhabi Harlequins v Bahrain
- Friday, Sep 15 – Kandy v Abu Dhabi Harlequins
- Friday, Sep 22 – Kandy v Bahrain
COMPANY%20PROFILE
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COMPANY%20PROFILE%20
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Company%20Profile
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A cheaper choice
Vanuatu: $130,000
Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.
Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.
Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.
Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.
The%20Specs
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Company%20Profile
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Malcolm & Marie
Directed by: Sam Levinson
Starring: John David Washington and Zendaya
Three stars
Results
%3Cp%3E%3Cstrong%3EStage%207%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Adam%20Yates%20(GBR)%20UAE%20Team%20Emirates%20%E2%80%93%203hrs%2029min%2042ses%3Cbr%3E2.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%20%E2%80%93%2010sec%3Cbr%3E3.%20Geoffrey%20Bouchard%20(FRA)%20AG2R%20Citroen%20Team%20%E2%80%93%2042sec%3Cbr%3E%3Cstrong%3EGeneral%20Classification%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3E2.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenaders%20%E2%80%93%2059se%3Cbr%3E3.%20Adam%20Yates%20(GBR)%20UAE%20Team%20Emirates%20%E2%80%9360sec%3Cbr%3ERed%20Jersey%20(General%20Classification)%3A%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EGreen%20Jersey%20(Points%20Classification)%3A%20Tim%20Merlier%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EWhite%20Jersey%20(Young%20Rider%20Classification)%3A%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EBlack%20Jersey%20(Intermediate%20Sprint%20Classification)%3A%20Edward%20Planckaert%20(FRA)%20Alpecin-Deceuninck%3C%2Fp%3E%0A
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S24%20ULTRA
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RACE SCHEDULE
All times UAE ( 4 GMT)
Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm
Saturday, September 30
Qualifying: 1pm - 2pm
Sunday, October 1
Race: 11am - 1pm
CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EGuillermo%20del%20Toro%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tim%20Blake%20Nelson%2C%20Sebastian%20Roche%2C%20Elpidia%20Carrillo%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Results
6.30pm: Madjani Stakes Group 2 (PA) Dh97,500 (Dirt) 1,900m, Winner: RB Frynchh Dude, Pat Cosgrave (jockey), Helal Al Alawi (trainer)
7.05pm: Maiden (TB) Dh82,500 (D) 1,400m, Winner: Mnasek, Dane O’Neill, Doug Watson.
7.40pm: Maiden (TB) Dh82,500 (D) 1,600m, Winner: Grand Dubai, Sandro Paiva, Ali Rashid Al Raihe.
8.15pm: Handicap (TB) Dh87,500 (D) 2,200m, Winner: Meqdam, Sam Hitchcock, Doug Watson.
8.50pm: Dubai Creek Mile Listed (TB) Dh132,500 (D) 1,600m, Winner: Thegreatcollection, Pat Cosgrave, Doug Watson.
9.25pm: Conditions (TB) Dh120,000 (D) 1,900m, Winner: Sanad Libya, Richard Mullen, Satish Seemar.
10pm: Handicap (TB) Dh92,500 (D) 1,400m, Winner: Madkhal, Adrie de Vries, Fawzi Nass.
Voy!%20Voy!%20Voy!
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Omar%20Hilal%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Muhammad%20Farrag%2C%20Bayoumi%20Fouad%2C%20Nelly%20Karim%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A