According to Reuters, the Securities and Exchange Commission is set to settle with the former head of the Obama Administration's auto task force, Steven Rattner. Earlier this year, the SEC charged Rattner with participating in a pay-to-play pension program, but the commission is expected to announce today that the former car czar has agreed to pay a fine of more than $5 million and accept a multi-year ban from the securities industry.
That Chrysler continues to struggle isn't exactly news. As a whole, the auto industry is tanking and cars just aren't moving off dealer lots. Chrysler initially responded by offering buyouts to its entire workforce, and 25% off all its salaried workers took the company up on the offer. Earlier this week, we learned that the ailing Auburn Hills empire will get cozy with Italian automaker Fiat. What we haven't heard as much about, however, is the health of Chrysler's parent company, Cerberus Capit
It's a long way to travel between Italy and America. Not only is it how far Lamborghini road cars have to travel to meet their new owners here in the US, but it's also the divide American dealerships have had to bridge in order to provide the level of service that customers expect when dropping six figures on a new car. And that's a gap Sant'Agata intends to narrow with the establishment of Automobili Lamborghini America LLC.
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