Hope this is just speculation

Nope. The factory and everything will remain in Italy. They might just shuffle it over to the UK or Holland for tax reasons and all that, but theý'll still be build by italians.

 

Ah! Didn't bother reading it but already knew exactly what it would say...

Well, now no one has to and can just read the summary below .

 

I just saw this article about them possibly moving Ferrari's corporate out of Italy, not manufacturing. It may be just be someone trying to stir the pot, but who knows.

Here is the link.

http://www.autonews.com/article/20141210/COPY01/312109950/ferrari-considers-moving-fiscal-residence-outside-italy-report-says

 

That would ruin it for me, 100%. I think it would be stupid beyond belief. All the classic sports and luxury car brands are in their countries of origin. Heck, most are in their original factories. This would mean that Ferrari would be the sole company to have abandoned their "heritage". When I buy a sportscar, and since I live in Europe, collecting at the factory is a big deal, and so is it to know that there is a history at the place. This is all completely personal though. I don't care to get into whether or not it's a good thing on a financial large scale long term basis.

 

They wouldn't be leaving their factory, as I understand it.

Although frankly the factory today isn't the old hammer and workman enterprise it was in the '60s anyway. And robots don't speak Italian.

 

Pretty sure all of this is just quoting the original story in Bloomberg back in October.....

 

It would only be the financial HQ. The financial HQ is already in the Netherlands (Fiat - Chrysler). So this is really only a BFD ..

 

That's just the tip of it.

 

Why stop at London, why not Grand Cayman?

As a capitalist I get it, as a devout enthusiast I don't like it. Just doesn't feel right.

Life goes on.

 

Why Cayman when they have Cyprus so close by.

 

FCA deny the Ferrari move for tax purposes:
http://europe.autonews.com/article/20141211/ANE/141219971/fca-says-no-plan-to-move-ferraris-tax-base-from-italy?cciid=email-ane-daily

 

And when control of the company shifts to non-Italian interests?

 

I personally think it would be a HUGE mistake to move ANY part of the admin to ANY other country!!! In fact, I feel it would be a bad move if they left Maranello & Modena...... Let alone Italy!!!!
I have made the pilgrimage to Maranello & I found it an epic journey! Travelling 3000 miles in 3 days, spending £2000 on fuel in my 1st Ferrari on my 30th Birthday. Knowing that I was heading to where everything Ferrari was housed made it really quite special..... That was only 8 months ago, and boy am I hooked

I hope that the company doesn't start changing too much


DarkShines
[email protected]

 

Chrysler tc by Maserati?

 

Why is everyone so upset? NOTHING will change, just where the beancounters have the company. I thought people would make the ''Pilgrimage'' to Modena to see the factory/Fiorano and all that, not to see the accountancy office.

 

If my quick math is correct 2/3s of the company stock will be widely held.
Assuming that all shares have equal voting rights that puts a majority interest in play for a takeover.
If that happens all bets are off.

 

Well, for those of us who have dreamed of touring of the accountancy office, you have to admit this is devastating news.

 

I'm assuming there can't be many of those people around...

 

How do you get there? As I understand it, 10% is being floated to the public. The rest is in the hands of FCA and Pierro Ferrari. Do you mean you think some of that FCA share might be sold to the public markets?

 

Cyprus set a precedent for banks & got stealing ppls $

I don't think anybody wants to go there

 

This way. And please point out where I've made an error

Piero has 10%
Shares offered to market on rollout 10%
Of the 80% left the family holds 30% (not 30% total but 30% of 80%) ie: 24%
Shares held by existing Fiat/Chrysler shareholders other than Agnellis 56%

So Piero and the Agnelli family hold 34%
Leaving 66% in public hands.

My figures come from David Lillywhite's piece in the current issue of Octane Magazine.
He did not do the sums but just listed the percentages.

 

That makes sense. I guess we will have to see what they do. I guess its a new day and that means there are new possibilities.