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CEOs don't like this fact, because it severely limits their career opportuninties. In Italy we had Marchionne more or less an insurance salesman. He lead FIAT
by _giorgio_ 3y ago
CEOs don't like this fact, because it severely limits their career opportuninties.
In Italy we had Marchionne more or less an insurance salesman.
He lead FIAT group into oblivion, he tried to clear the books by simply canceling the development of a car model. Instead, he destroyed the company.
- ponector 3y agoDestroyed? Other says he saved it. Financial Times considered Marchionne as having been "one of the boldest business leaders of his generation".
- fransje26 3y agoI have no doubt that before the first MAX crash, the Financial Times was gushing about how great a value the Boeing stock was, with the order books being full for the years to come...
- _giorgio_ 3y agoWell, order books are probably really full because for an Airline it is cheaper to pay for the death of the customers than to pay for the training of 3000 pilots and technicians and finally switching from Boeing to Airbus. Fight Club vibes.
- _giorgio_ 3y agoLOL no. The brand in practice doesn't exist anymore, it has been merged. The most important thing about the guy: he didn't like electric cars. Such a small man. Sorry for the italian page: https://www.panorama.it/economia/panda-punto-bravo-modelli-flop-marchionne https://www.panorama.it/economia/panda-punto-bravo-modelli-f...
- deleted 3y ago[deleted]
- ponector 3y agoThat journalist grieves for discontinued Multipla, which is the ugliest car ever. Also push back to the electric cars back then was a good strategy. Fiat was always a cheap cars brand, none will go and buy expensive electric Fiat. Looks like FT is right about him, his business decisions were right.
- _giorgio_ 3y agoHe made a lot of mistakes, he was not a car guy. Look at cheap electric chinese cars. Tech is old and perfect for Italy. He simply didn't understand the technology. He was a backward guy who only knew merges and finance. If you run a car company, you need to understand the product. You can't survive long without that.
- ponector 3y agoChinese electric cars are cheap because they are subsidized. You should really compare with other European car manufacturers. I'm not a fan of Fiat, but if they did huge investments into electric 10+ years ago that possibly could bankrupt the company. Market is not ready even now for going all electric.
- willcipriano 3y ago> Chinese electric cars are cheap because they are subsidized. So are cars in the US. Why are they so expensive here?
- scotty79 3y agoThat's what's great about being CEO. No matter what you do, it really doesn't matter and noone can evaluate what you did to any significan level of confidence.