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Jennifer Clark - Mondo Agnelli: Fiat, Chrysler, and the Power of a Dynasty

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The fascinating story of a century-old automobile dynasty

Fiat is one of the worlds largest automakers, but when it made headlines by grabbing control of a bankrupt Chrysler in 2009 it was unknown in the U.S. Fiats against-all-odds swoop on Chrysler-masterminded by Sergio Marchionne, the Houdini-like manager who saved Fiat from its own near-collapse in 2005 has made the automaker one of the most unlikely winners of the financial crisis. Mondo Agnelli is a new book that looks at the chain of unpredictable events triggered by the death of Gianni Agnelli in 2003. Gianni, the charismatic, silver-haired power broker and style icon, was the patriarch who had lead the company founded by his grandfather in 1899. But Giannis own son had committed suicide. Without a mature heir, the dynasty and Fiat were rudderless. Backed by Giannis closest advisors, his serious, shy, and determined grandson John plucked Marchionne from obscurity. Together, they saved the family company and, inadvertently, positioned Fiat as a global trailblazer when the global storm hit.

  • A classic story of ingenuity and hard work, the book portrays a business dynasty that triumphed over adversity and family tragedy because of its own smarts, sweat, and ability to bend the rules
  • A an engaging tale for those interested in the stories behind the economic crash, the book contains never-before reported material about how Fiat succeeded in making Chrysler profitable where both Daimler AG and Cerberus, its previous owners, had failed.
  • A story for a wide audience, from car buffs, business readers, lovers of Italy, and anyone fascinated by the lifestyle of Europes most glamorous industrial dynasty, this book tells the tale of how Fiat achieved the seemingly impossible turning around an American automotive icon everyone else had given up for dead.

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    Contents Copyright 2012 by Jennifer Clark All rights reserved Published by - photo 1

    Contents

    Copyright 2012 by Jennifer Clark All rights reserved Published by John Wiley - photo 2

    Copyright 2012 by Jennifer Clark. All rights reserved.

    Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

    Published simultaneously in Canada.

    Llanto por Ignacio Snchez Mejas (Lament for Ignacio Snchez Mejas) by Federico Garca Lorca copyright Herederos de Federico Garca Lorca, from Obras Completas (Galaxia/Gutenberg, 1996 edition). English Translation by Galway Kinnell copyright Galway Kinnell and Herederos de Federico Garca Lorca. All rights reserved. For information regarding rights and permissions of all of Lorcas works in Spanish or in English, please contact or William Peter Kosmas, Esq., 8 Franklin Square, London W14 9UU, England.

    No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 7508400, fax (978) 6468600, or on the Web at www.copyright.com . Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 7486011, fax (201) 7486008, or online at www.wiley.com/go/permissions .

    Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

    For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 7622974, outside the United States at (317) 5723993 or fax (317) 5724002.

    Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our Web site at www.wiley.com .

    Library of Congress Cataloging-in-Publication Data:

    Clark, Jennifer, 1972

    Mondo Agnelli: Fiat, Chrysler, and the power of a dynasty / Jennifer Clark.1

    p. cm.

    Includes bibliographical references and index.

    ISBN 9781118018521 (cloth); ISBN 9781118221969 (ebk); ISBN 9781118236116 (ebk); ISBN 9781118241202 (ebk)

    1. Fiat (Firm)History. 2. Agnelli family. 3. BusinessmenItaly. 4. Automobile industry and tradeItaly. I. Title.

    HD9710.I84F477 2011

    338.7'629222092245dc23

    [B]

    2011039738

    To Dino

    The men who have changed the universe have never gotten there by working on leaders, but rather by moving the masses. Working on leaders is the method of intrigue and only leads to secondary results. Working on the masses, however, is the stroke of genius that changes the face of the world.

    Napoleon Bonaparte

    Agnelli Family Tree

    Timeline July 30 1863 Henry Ford is born in Dearborn Michigan August - photo 3
    Timeline July 30 1863 Henry Ford is born in Dearborn Michigan August - photo 4

    Timeline

    July 30, 1863Henry Ford is born in Dearborn, Michigan.
    August 13, 1866Giovanni Agnelli is born in Villar Perosa, near Turin.
    April 2, 1875Walter Percy Chrysler is born in Wamego, Kansas.
    August 5, 1882Italian engineer Enrico Bernardi, working in Padua, Italy, obtains patent number 14,460 for an internal combustion engine for use in small machines.
    AprilOctober 1884Enrico Bernardi presents motorized three-wheeled car at Turin International Exposition.
    January 29, 1886In Germany, Karl Benz patents a gasoline-powered engine, after having tested it on a three-wheeled vehicle.
    March 8, 1886Gottlieb Daimler installs an internal combustion engine of his own design on a stagecoach.
    January 2, 1892Edoardo Agnelli is born in Verona, Italy.
    May 18, 1895First Italian car race is held, from Turin to Asti.
    July 1, 1899Fabbrica Italiana Automobili Torino, or FIAT, is founded in Turin.
    November 30, 1901Henry Ford founds Henry Ford Company in Detroit.
    March 8, 1906Agnelli becomes largest shareholder of Fiat.
    April 1906Agnelli makes his first trip to the United States.
    June 23, 1908Agnelli and two partners are accused of market rigging in the 1906 market crash.
    August 12, 1908Ford Motor Company makes its first Model T.
    1912Agnelli visits Detroit again.
    July 5, 1913Court of Appeals confirms Agnellis acquittal in market rigging trial.
    June 8, 1919Edoardo Agnelli marries Virginia Bourbon del Monte.
    September 1, 1920Fiat workers occupy Fiat factories.
    March 12, 1921Gianni Agnelli is born.
    October 28, 1922Benito Mussolinis March on Rome.
    March 1, 1923Giovanni Agnelli is named a senator by Benito Mussolini.
    July 24, 1923Edoardo Agnelli is named chairman of Juventus, the Agnelli family soccer team.
    October 25, 1923Fiats Lingotto factory is inaugurated by Benito Mussolini.
    June 6, 1925Chrysler Corporation is founded.
    July 27, 1927Senatore Giovanni Agnelli creates family holding company IFI.
    April 12, 1932Fiat presents the Balilla, a successful small peoples car, at the Milan Fair.
    July 14, 1935Edoardo Agnelli, 42, dies in airplane accident.
    December 19, 1936Virginia Agnelli receives court order denying her custody of her seven children.
    May 15, 1939Mirafiori is inaugurated by visit of Benito Mussolini.
    June 10, 1940Italy enters World War II on Axis side.
    July 25, 1943Mussolini is ousted from power.
    September 8, 1943Italy announces its surrender to Allied powers, which had occupied southern half of the country.
    May 10, 1944Karl Wolff, Supreme Commander of Nazi SS forces in Italy, discusses German withdrawal with Pope Pius XII in meeting organized with help of Virginia Agnelli.
    November 26, 1944Fiat manager Vittorio Valletta is denounced by workers committee as a traitor for collaboration with Fascist government in report made to the CLN, the de facto government of occupied Italy.
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