1.
Ferrari (film)
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Ferrari is a 2003 bio-pic based on the book by Enzo Biagi. It depicts Enzo Ferraris rise from a race driver to one of the most famous entrepreneurs of all time. Being interviewed by a fictitious, intrusive young journalist he recalls his setbacks and he also expresses his regrets about race drivers who met with an accident. The film finishes with a dedication by Piero Ferrari, In loving memory of my father, due to its success the original TV miniseries was edited for cinema. When he is ten years old, Enzo Ferrari runs to the next village only to watch a car race. Now the direction for his life is set and he starts immediately working on vehicles and as soon as he is old enough to drive a real car, he becomes a race car driver. Soon the young man shows ambitions in finding a racing team and he offers his services to Fiat but the team managers turn him down. Yet Alfa Romeo hires Ferrari and promotes him to team manager, with gusto Ferrari takes his family to the races. His wife objects to the noise and considers this environment inappropriate for little Dino and he is determined to raise him as his successor. Ferraris reputation grows and enables him to create his own company, when he presents his employees to the press, he explains that enthusiasm can be contagious. But when German troops come to Italy, Ferrari is accused of building weapons for the Italian resistance, although one of the officers is a fan of Ferrari and tries to protect him, Ferrari must hide. After the war Enzo Ferrari rebuilds his destroyed factory, and begins pushing himself to his limits, once he is back in business and has recovered from exhaustion, he finds out that Dino suffers with an especially severe form of muscular dystrophy. Enzo regrets not having spent more time with him, a thought which will haunt him for the rest of his life
Ferrari (film)
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Enzo Ferrari
2.
Naamloze vennootschap
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Naamloze vennootschap is a legal structure of a company conformable law in in the Netherlands, Belgium, Indonesia, and Suriname. The company is owned by shareholders, and the shares are not registered to certain owners. The phrase literally means nameless partnership or anonymous venture and comes from the fact that the partners are not directly known and this is in contrast to the term for a private limited company, which is called besloten vennootschap. SE – additional legal structure of a company available in the European Union S. p. A Types of companies
Naamloze vennootschap
3.
Ticker symbol
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A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both, ticker symbol refers to the symbols that were printed on the ticker tape of a ticker tape machine. Stock symbols are unique identifiers assigned to each security traded on a particular market, for example, AAPL is for Apple Inc. OODH is for Orion DHC, Inc. and HD is for Home Depot, a stock symbol can consist of letters, numbers, or a combination of both, and is a way to uniquely identify that stock. The symbols were kept as short as possible to reduce the number of characters that had to be printed on the ticker tape, the allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are typically between 1 and 4 letters and represent the name where possible. In Europe, most exchanges use three-letter codes, for example Dutch consumer goods company Unilever traded on the Amsterdam Euronext exchange has the symbol UNA, while in Asia, numbers are often used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBCs stock traded on the Hong Kong Stock Exchange has the ticker symbol 0005, symbols sometimes change to reflect mergers. Prior to the 1999 merger with Mobil Oil, Exxon used a spelling of the company XON as its ticker symbol. The symbol of the firm after the merger was XOM, symbols are sometimes reused, in the US the single-letter symbols are particularly sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V that had previously used by Vivendi which had delisted. To fully qualify a stock, both the ticker and the exchange or country of listing needs to be known, on many systems both must be specified to uniquely identify the security. This is often done by appending the location or exchange code to the ticker, although stock tickers identify a security, they are exchange dependent, generally limited to stocks and can change. These limitations have led to the development of other codes in financial markets to identify securities for settlement purposes, the most prevalent of these is the International Securities Identifying Number. An ISIN uniquely identifies a security and its structure is defined in ISO6166, Securities for which ISINs are issued include bonds, commercial paper, stocks, and warrants. The ISIN identifies the security, not the exchange on which it trades, for instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, and is priced in five different currencies, it has the same ISIN on each, though not the same ticker symbol. ISIN cannot specify a particular trade in this case, and another identifier, following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still widely referred to as EPICs. Stocks can also be identified using their SEDOL number or their ISIN, in the United States, modern letter-only ticker symbols were developed by Standard & Poors to bring a national standard to investing
Ticker symbol
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Stock
telegraph ticker machine by
Thomas Edison
4.
New York Stock Exchange
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The New York Stock Exchange, is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the worlds largest stock exchange by market capitalization of its companies at US$19.3 trillion as of June 2016. The average daily trading value was approximately US$169 billion in 2013, the NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007, the main building and the 11 Wall Street building were designated National Historic Landmarks in 1978. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists, previously, it was part of NYSE Euronext, which was formed by the NYSEs 2007 merger with Euronext. NYSE and Euronext now operate as divisions of Intercontinental Exchange, the NYSE has been the subject of several lawsuits regarding fraud or breach of duty and in 2004 was sued by its former CEO for breach of contract and defamation. The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement, previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco. In 1817 the stockbrokers of New York operating under the Buttonwood Agreement instituted new reforms, after sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted as well as formal organs of governance. Several locations were used between 1817 and 1865, when the present location was adopted, the invention of the electrical telegraph consolidated markets, and New Yorks market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Civil War greatly stimulated speculative securities trading in New York, by 1869 membership had to be capped, and has been sporadically increased since. The latter half of the century saw rapid growth in securities trading. Securities trade in the nineteenth and early twentieth centuries was prone to panics. The Stock Exchange Luncheon Club was situated on the floor from 1898 until its closure in 2006. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building. The NYSE announced its plans to merge with Archipelago on April 21,2005, NYSEs governing board voted to merge with rival Archipelago on December 6,2005, and became a for-profit, public company. It began trading under the name NYSE Group on March 8,2006, Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, the principal sectors are securities industry, commercial banking, asset management, and insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE, presently, the chairman is Jeffrey Sprecher
New York Stock Exchange
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The New York Stock Exchange in 2012.
New York Stock Exchange
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New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
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The Stock Exchange at 10–12 Broad Street, in 1882
5.
Borsa Italiana
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Borsa Italiana S. p. A. based in Milan, is Italys stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries, following exchange privatisation in 1997, the Company was established and became effective since January 2,1998. It is now a subsidiary of the London Stock Exchange Group plc since June 23,2007, in 2015, overall capitalisation for listed company on Borsa Italiana was worth €465Bln, representing % of Italian GDP. Borsa Italiana is also known as Piazza Affari, after the city square of Milan where its headquarters is located. Borsa Italiana is chaired by Andrea Sironi while Raffaele Jerusalmi serves as CEO, the two, moreover, are also both members of the Board of Directors of London Stock Exchange Group. The Borsa di commercio di Milano was established by Eugène de Beauharnais, viceroy of the Napoleonic Kingdom of Italy, in March 2016, the London Stock Exchange Group announced it had agree to merge in an all-stock deal with Deutsche Borse. Borsa Italiana acts as a management firm operating with autonomy. It organises and manages the domestic market along with Italian. Among its leading tasks, Borsa Italiana supervises listed companies, defining rules for admission and listings, major trading markets for Borsa Italiana are, MTA, the leading equity market, which is devoted to mid and large-size companies
Borsa Italiana
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Italian Stock Exchange Borsa Italiana
Borsa Italiana
6.
Automotive industry
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The automotive industry is a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles, some of them are called automakers. It is one of the worlds most important economic sectors by revenue, the term automotive was created from Greek autos, and Latin motivus to represent any form of self-powered vehicle. This term was proposed by Elmer Sperry, the automotive industry began in the 1890s with hundreds of manufacturers that pioneered the horseless carriage. For many decades, the United States led the world in automobile production. In 1929, before the Great Depression, the world had 32,028,500 automobiles in use, at that time the U. S. had one car per 4.87 persons. After World War II, the U. S. produced about 75 percent of auto production. In 1980, the U. S. was overtaken by Japan, in 2006, Japan narrowly passed the U. S. in production and held this rank until 2009, when China took the top spot with 13.8 million units. With 19.3 million units manufactured in 2012, China almost doubled the U. S. production, with 10.3 million units, from 1970 over 1998 to 2012, the number of automobile models in the U. S. has grown exponentially. Safety is a state that implies to be protected from any risk, danger, in the automotive industry, safety means that users, operators or manufacturers do not face any risk or danger coming from the motor vehicle or its spare parts. Safety for the automobiles themselves, implies there is no risk of damage. Safety in the industry is particularly important and therefore highly regulated. Automobiles and other vehicles have to comply with a certain number of norms and regulations, whether local or international. The standard ISO26262, is considered as one of the best practice framework for achieving automotive functional safety. In case of safety issues, danger, product defect or faulty procedure during the manufacturing of the motor vehicle and this procedure is called product recall. Product recalls happen in every industry and can be production-related or stem from the raw material, however, the automotive industry is still particularly concerned about product recalls, which cause considerable financial consequences. Around the world, there were about 806 million cars and light trucks on the road in 2007, consuming over 980 billion litres of gasoline, the automobile is a primary mode of transportation for many developed economies. The Detroit branch of Boston Consulting Group predicts that, by 2014, meanwhile, in the developed countries, the automotive industry has slowed down. It is also expected that this trend will continue, especially as the generations of people no longer want to own a car anymore
Automotive industry
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Thomas B. Jeffery automobile factory in Kenosha, Wisconsin, c.1916
Automotive industry
Automotive industry
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Citroën assembly line in 1918
7.
Modena
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Modena is a city and comune on the south side of the Po Valley, in the Province of Modena in the Emilia-Romagna region of northern Italy. One of Ferraris cars, the 360 Modena, was named after the town itself, the University of Modena, founded in 1175 and expanded by Francesco II dEste in 1686, has traditional strengths in economics, medicine and law and is the second oldest athenaeum in Italy. Italian military officers are trained at the Military Academy of Modena, the Biblioteca Estense houses historical volumes and 3,000 manuscripts. The Cathedral of Modena, the Torre della Ghirlandina and Piazza Grande are a UNESCO World Heritage Site since 1997, Modena is also known in culinary circles for its production of balsamic vinegar. Modena lies on the Pianura Padana, and is bounded by the two rivers Secchia and Panaro, both affluents of the Po River and their presence is symbolized by the Two Rivers Fountain in the citys center, by Giuseppe Graziosi. The city is connected to the Panaro by the Naviglio channel, the Apennines begin some 10 kilometres from the city, to the south. The commune is divided into four circoscrizioni and these are, Centro storico Crocetta Buon Pastore San Faustino Modena has a humid subtropical climate, with an average annual precipitation of 809 millimetres. Summers are warm and winters are chilly and wetter, with the possibility of snowfall and this climate is described by the Köppen climate classification as Cfa. From 1945 to 1992, Modena had a consecutive series of Communist mayors. From the 1990s, the city has been governed by center-left coalitions, at the April 2006 elections, the city of Modena gave about 50% of its votes to the Democratic Party. The legislative body of the municipality is the City Council which is composed by 35 members elected every five years, Modenas executive body is the City Committee composed by 9 assessors, the deputy-mayor and the mayor. The current mayor of Modena is Giancarlo Muzzarelli, member of the Democratic Party of Italy, the territory around Modena was inhabited by the Villanovans in the Iron Age, and later by Ligurian tribes, Etruscans, and the Gaulish Boii. Livy described it as a fortified citadel where Roman magistrates took shelter, the outcome of the siege is not known, but the city was most likely abandoned after Hannibals arrival. Mutina was refounded as a Roman colony in 183 BC, to be used as a base by Marcus Aemilius Lepidus. In the 1st century BC Mutina was besieged twice, the first siege was by Pompey in 78 BC, when Mutina was defended by Marcus Junius Brutus. The city eventually surrendered out of hunger, and Brutus fled, in the civil war following Caesars assassination, the city was besieged again, this time by Mark Antony, in 44 BC, and defended by Decimus Junius Brutus. Octavian relieved the city with the help of the Senate, cicero called it Mutina splendidissima in his Philippics. It is said that Mutina was never sacked by Attila, for a dense fog hid it, as of December 2008, Italian researchers have discovered the pottery center where the oil lamps that lit the ancient Roman empire were made
Modena
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Top left:Modena Cathedral and Ghirladinn Tower, Top right:Modena City Hall, Bottom left:Stoa of Portici del Collegio in Emilia Street, Bottom right:View of Modena Ducal Palace and San Domenico Cathedral from Dante Square
Modena
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Modena Cathedral (left) and City Hall (right)
Modena
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A view of Piazza Grande
Modena
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Façade of the
Cathedral
8.
Enzo Ferrari
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He was widely known as il Commendatore or il Drake. In his final years he was referred to as lIngegnere or il Grande Vecchio. Ferrari was born on 18 February 1898 in Modena, Italy and his birth certificate had recorded his birth date on 20 February because a heavy snowstorm had prevented his father from reporting the birth at the local registry office. He was the younger of two children to Alfredo and Adalgisa Ferrari, after his elder sibling Alfredo Junior, Alfredo Senior was the son of a grocer from Carpi and started a workshop fabricating metal parts at the family home. Enzo grew up with formal education. At the age of 10 he witnessed Felice Nazzaros win at the 1908 Circuit di Bologna, during World War I he served in the 3rd Mountain Artillery Regiment of the Italian Army. His father Alfredo, and his brother, Alfredo Jr. died in 1916 as a result of a widespread Italian flu outbreak. Ferrari became severely sick himself in the 1918 flu pandemic and was discharged from Italian service. Following the familys carpentry business collapse, Ferrari started searching for a job in the car industry and he unsuccessfully volunteered his services to FIAT in Turin, eventually settling for a job as test-driver for C. M. N. A car manufacturer in Milan, which rebuilt used truck bodies into small passenger cars, on November 23 of the same year, he took part in the Targa Florio but had to retire after his cars fuel tank developed a leak. The prancing horse emblem was created when Italian fighter pilot Francesco Baracca was shot down during World War I, Baracca gave Enzo Ferrari a necklace with the prancing horse on it prior to takeoff. Baracca was tragically shot down and killed, in memory of his death, Enzo Ferrari used the prancing horse to create the emblem that would become the world famous Ferrari shield. However the world first saw this emblem on an Alfa Romeo as Ferrari was still tied up with Alfa Romeo and it was not until 1947 that the shield was first seen on a Ferrari. This was the birth of Ferrari, in 1924 Ferrari won the Coppa Acerbo at Pescara, a success that encouraged Alfa Romeo to offer him a chance to race in much more prestigious competitions. Ferrari himself continued racing until 1932, before he left Alfa Romeo to found Scuderia Ferrari, despite the quality of the Scuderia drivers, the team struggled to compete with Auto Union and Mercedes. In 1937 Alfa Romeo decided to regain control of its racing division. Unhappy with the arrangement, Ferrari left and founded Auto-Avio Costruzioni, with the outbreak of World War II in 1943, Ferraris factory was forced to undertake war production for Mussolinis fascist government. Following Allied bombing of the factory, Ferrari relocated from Modena to Maranello, at the end of the conflict, Ferrari decided to start making cars bearing his name, and founded Ferrari S. p. A. in 1947
Enzo Ferrari
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Enzo Ferrari in the 1920s
Enzo Ferrari
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Drivers Enzo Ferrari (1st from left),
Tazio Nuvolari (4th) and
Achille Varzi (6th) of Alfa Romeo with Alfa Romeo Managing Director Prospero Gianferrari (3rd) at
Colle della Maddalena, c. 1933
Enzo Ferrari
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Ferrari (left) with
Ilario Bandini in 1964
9.
Amsterdam
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Amsterdam is the capital and most populous municipality of the Kingdom of the Netherlands. Its status as the capital is mandated by the Constitution of the Netherlands, although it is not the seat of the government, which is The Hague. Amsterdam has a population of 851,373 within the city proper,1,351,587 in the urban area, the city is located in the province of North Holland in the west of the country. The metropolitan area comprises much of the part of the Randstad, one of the larger conurbations in Europe. Amsterdams name derives from Amstelredamme, indicative of the citys origin around a dam in the river Amstel, during that time, the city was the leading centre for finance and diamonds. In the 19th and 20th centuries the city expanded, and many new neighborhoods and suburbs were planned, the 17th-century canals of Amsterdam and the 19–20th century Defence Line of Amsterdam are on the UNESCO World Heritage List. As the commercial capital of the Netherlands and one of the top financial centres in Europe, Amsterdam is considered a world city by the Globalization. The city is also the capital of the Netherlands. Many large Dutch institutions have their headquarters there, and seven of the worlds 500 largest companies, including Philips and ING, are based in the city. In 2012, Amsterdam was ranked the second best city to live in by the Economist Intelligence Unit and 12th globally on quality of living for environment, the city was ranked 3rd in innovation by Australian innovation agency 2thinknow in their Innovation Cities Index 2009. The Amsterdam seaport to this day remains the second in the country, famous Amsterdam residents include the diarist Anne Frank, artists Rembrandt van Rijn and Vincent van Gogh, and philosopher Baruch Spinoza. The Amsterdam Stock Exchange, the oldest stock exchange in the world, is located in the city center. After the floods of 1170 and 1173, locals near the river Amstel built a bridge over the river, the earliest recorded use of that name is in a document dated October 27,1275, which exempted inhabitants of the village from paying bridge tolls to Count Floris V. This allowed the inhabitants of the village of Aemstelredamme to travel freely through the County of Holland, paying no tolls at bridges, locks, the certificate describes the inhabitants as homines manentes apud Amestelledamme. By 1327, the name had developed into Aemsterdam, Amsterdam is much younger than Dutch cities such as Nijmegen, Rotterdam, and Utrecht. In October 2008, historical geographer Chris de Bont suggested that the land around Amsterdam was being reclaimed as early as the late 10th century. This does not necessarily mean there was already a settlement then, since reclamation of land may not have been for farming—it may have been for peat. Amsterdam was granted city rights in either 1300 or 1306, from the 14th century on, Amsterdam flourished, largely from trade with the Hanseatic League
Amsterdam
Amsterdam
Amsterdam
Amsterdam
10.
Netherlands
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The Netherlands is the main constituent country of the Kingdom of the Netherlands. It is a densely populated country located in Western Europe with three territories in the Caribbean. The European part of the Netherlands borders Germany to the east, Belgium to the south, and the North Sea to the northwest, sharing borders with Belgium, the United Kingdom. The three largest cities in the Netherlands are Amsterdam, Rotterdam and The Hague, Amsterdam is the countrys capital, while The Hague holds the Dutch seat of parliament and government. The port of Rotterdam is the worlds largest port outside East-Asia, the name Holland is used informally to refer to the whole of the country of the Netherlands. Netherlands literally means lower countries, influenced by its low land and flat geography, most of the areas below sea level are artificial. Since the late 16th century, large areas have been reclaimed from the sea and lakes, with a population density of 412 people per km2 –507 if water is excluded – the Netherlands is classified as a very densely populated country. Only Bangladesh, South Korea, and Taiwan have both a population and higher population density. Nevertheless, the Netherlands is the worlds second-largest exporter of food and agricultural products and this is partly due to the fertility of the soil and the mild climate. In 2001, it became the worlds first country to legalise same-sex marriage, the Netherlands is a founding member of the EU, Eurozone, G-10, NATO, OECD and WTO, as well as being a part of the Schengen Area and the trilateral Benelux Union. The first four are situated in The Hague, as is the EUs criminal intelligence agency Europol and this has led to the city being dubbed the worlds legal capital. The country also ranks second highest in the worlds 2016 Press Freedom Index, the Netherlands has a market-based mixed economy, ranking 17th of 177 countries according to the Index of Economic Freedom. It had the thirteenth-highest per capita income in the world in 2013 according to the International Monetary Fund, in 2013, the United Nations World Happiness Report ranked the Netherlands as the seventh-happiest country in the world, reflecting its high quality of life. The Netherlands also ranks joint second highest in the Inequality-adjusted Human Development Index, the region called Low Countries and the country of the Netherlands have the same toponymy. Place names with Neder, Nieder, Nether and Nedre and Bas or Inferior are in use in all over Europe. They are sometimes used in a relation to a higher ground that consecutively is indicated as Upper, Boven, Oben. In the case of the Low Countries / the Netherlands the geographical location of the region has been more or less downstream. The geographical location of the region, however, changed over time tremendously
Netherlands
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The Netherlands in 5500 BC
Netherlands
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Flag
Netherlands
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The Netherlands in 500 BC
Netherlands
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An oak figurine found in
Willemstad, North Brabant (4500 BC).
11.
Maranello
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Maranello is a town and comune in the region of Emilia-Romagna in Northern Italy,18 km from Modena, with a population of 17,165 as of 2013. It is best known as the home of Ferrari and the Scuderia Ferrari Formula One racing team, maranello was also home to coachbuilding firm Carrozzeria Scaglietti, now owned by Ferrari. The public museum Museo Ferrari, which sports and racing cars. Its new library opened in November 2011, and was designed by Arata Isozaki, maranello is the starting point of the annual Italian Marathon, which finishes in nearby Carpi. Maranellos new town library was designed jointly by Andrea Maffei and Isozaki, the parish church of San Biagio was rebuilt in 1903
Maranello
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The Prancing Horse, symbol of Ferarri
Maranello
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The head office and factory of
Ferrari
Maranello
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The
F1 racing car of
Scuderia Ferrari
12.
Sergio Marchionne
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Sergio Marchionne is an Italian-Canadian executive who is currently the CEO of Fiat Chrysler Automobiles, the Chairman of CNH Industrial and the CEO of Ferrari. He is also a member of the Peterson Institute for International Economics as well as Chairman of the Italian Branch of the Council for the United States and Italy. In 2009, he was instrumental in Fiat Group forming an alliance with the ailing US automaker Chrysler, with the support of the US and Canadian governments. Less than two years later, following its emergence from Chapter 11, Chrysler returned to profitability, repaying all government loans, in 2014, Fiat and Chrysler merged into a new holding company, Fiat Chrysler Automobiles, now the seventh-largest automobile manufacturer in the world. Marchionne was born in Chieti, Abruzzo, Italy, the son of Concezio Marchionne, from Cugnoli and his father served as a carabiniere in Istria, where he met his future wife. Marchionnes grandfather, Giacomo Zuccon, was killed in September 1943 by Yugoslav Partisans near Barban in Istria, in 1945, when the region was occupied by the Yugoslav army, Marchionnes parents moved to Chieti in Abruzzo, where Sergio was born. At age 13, Marchionne emigrated with his family to Toronto, Ontario, Canada, as a result, he has dual Canadian and Italian citizenship and speaks fluent English and Italian. He is a Canadian Certified General Accountant, barrister, and a fellow of the Certified General Accountants of Ontario and he attended the prestigious St. Marchionne received an Honorary Doctor of laws degree from Walsh College in 2013. From 1983 to 1985, he worked as an accountant and tax specialist for Deloitte & Touche in Canada, from 1985 to 1988, he was Group Controller and then Director of Corporate Development at the Lawson Mardon Group in Toronto. In 1989, he moved to Glenex Industries where he worked for two years as Executive Vice President, from 1990 to 1992, he was Vice President of Finance and Chief Financial Officer at Acklands Ltd. Between 1992 and 1994, he served as Vice President of Legal and Corporate Development and Chief Financial Officer of the Lawson Group, from 1994 to 2000, he worked at Algroup based in Zurich, where he became Chief Executive Officer in 1997. He then took the helm of the Lonza Group Ltd. in Basel, after its spin-off from Algroup, serving first as Chief Executive Officer and Managing Director and then as Chairman. In February 2002, he became Chief Executive Officer and Managing Director of SGS S. A. of Geneva where, in March 2006, he was appointed Chairman. Marchionne was elected as an independent member of the Board of Directors of Fiat S. p. A. in May 2003, Fiat and Chrysler officially merged under Marchionnes direction on August 1,2014. On 2 November 2011, Marchionne was awarded The Deming Cup 2011 for operational excellence presented by W. Edwards Deming Center at Columbia Business School, on 5 December 2011, The Business Council for International Understanding honored Marchionne with the Dwight D. Marchionne has also earned a reputation for being blunt and outspoken. The only thing that matters to him is results, if you dont deliver, you are out. When Marchionne took over the company, he was firing one manager a day but there was a leadership problem
Sergio Marchionne
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Marchionne in 2007
Sergio Marchionne
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Marques
13.
Sports car
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A sports car is a small, usually two seater, two door automobile designed for spirited performance and nimble handling. According to the Merriam-Webster dictionary, the first known use of the term was in 1928, Sports cars may be spartan or luxurious, but high maneuverability and minimum weight are requisite. The basis for the car is traced to the early 20th century touring cars and roadsters. These raced in rallies, such as the Herkomer Cup, Prinz-Heinrich-Fahrt. These would shortly be joined by the French DFP and the Rolls-Royce Silver Ghost. In 1921, Ballot premiered its 2LS, with a remarkable 75 hp DOHC two liter, designed by Ernest Henry, capable of 150 km/h, at most, one hundred were built in four years and this was followed by the SOHC 2LT and 2LTS. The same year, Benz built a supercharged 28/95PS four for the Coppa Florio, duerkopps Zoller-blown two liter in 1924, as well. There was a clear cleavage by 1925, by the end of the 1920s, AC produced a 2-liter six, the 3. Benz introduced the powerful SS and SSK, and Alfa Romeo, hispano-Suizas Alfonso XIII is considered the first sportcar developed between 1911 and 1914. Two companies would offer really reliable sports cars, Austin with the Seven, the drive train and engine layout significantly influences the handling characteristics of an automobile, and is crucially important in the design of a sports car. The front-engine, rear-wheel-drive layout is common to cars of any era and has survived longer in sports cars than in mainstream automobiles. Examples include the Caterham 7, Mazda MX-5, and the Chevrolet Corvette, more specifically, many such sports cars have a FMR layout, with the centre of mass of the engine between the front axle and the firewall. In search of improved handling and weight distribution, other layouts are sometimes used, the RMR layout is commonly found only in sports cars—the motor is centre-mounted in the chassis, and powers only the rear wheels. Some high-performance sports car manufacturers, such as Ferrari and Lamborghini have preferred this layout, Porsche is one of the few remaining manufacturers using the rear-engine, rear-wheel-drive layout. The motors distributed weight across the wheels, in a Porsche 911, provides excellent traction, Porsche has continuously refined the design and in recent years added electronic driving aids to counteract these inherent design shortcomings. The front-engine, front-wheel-drive layout layout which is the most common in sport compacts and hot hatches, however, its conservative handling effect, particularly understeer, and the fact that many drivers believe rear wheel drive is a more desirable layout for a sports car count against it. The Fiat Barchetta, Saab Sonett, and Berkeley cars are cars with this layout. Before the 1980s few sports cars used four-wheel drive, which had added a lot of weight
Sports car
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Mazda MX-5, the world's best selling sports car
Sports car
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Prince Henry Vauxhall—3-litres
Sports car
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Prince Henry Austro-Daimler—5.7-litres
Sports car
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1900
NW Rennzweier (The Double Racer)
14.
Earnings before interest and taxes
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In accounting and finance, earnings before interest and taxes, is a measure of a firms profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses, when a firm does not have non-operating income, then operating income is sometimes used as a synonym for EBIT and operating profit. To calculate EBIT, expenses are subtracted from revenues, net income is later obtained by subtracting interest and taxes from the result
Earnings before interest and taxes
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Accounting
15.
Net income
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In business, net income is an entitys income minus cost of goods sold, expenses and taxes for an accounting period. In the context of the presentation of financial statements, the IFRS Foundation defines net income as synonymous with profit, net income is a distinct accounting concept from profit but the same as net profit. Net income can also be calculated by adding a companys operating income to non-operating income, net income can be distributed among holders of common stock as a dividend or held by the firm as an addition to retained earnings. As profit and earnings are used synonymously for income, net earnings, often, the term income is substituted for net income, yet this is not preferred due to the possible ambiguity. Net income is called the bottom line because it is typically found on the last line of a companys income statement. The items deducted will typically include tax expense, financing expense, likewise, preferred stock dividends will be subtracted too, though they are not an expense. For a merchandising company, subtracted costs may be the cost of goods sold, sales discounts, for a product company advertising, manufacturing, and design and development costs are included
Net income
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Accounting
16.
Asset
–
In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value, simply stated, assets represent value of ownership that can be converted into cash. The balance sheet of a firm records the value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business, one can classify assets into two major asset classes, tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets, current assets include inventory, while fixed assets include such items as buildings and equipment. Intangible assets are resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace. Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, an asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. One of the most widely accepted accounting definitions of asset is the one used by the International Accounting Standards Board, employees are not considered assets like machinery is, even though they can generate future economic benefits. This is because an entity does not have sufficient control over its employees to satisfy the Frameworks definition of an asset, similarly, in economics an asset is any form in which wealth can be held. The accounting equation is the structure of the balance sheet. It relates assets, liabilities, and owners equity, Assets = Liabilities + Capital Liabilities = Assets − Capital Equity = Assets − Liabilities Assets are listed on the balance sheet. On a companys balance sheet certain divisions are required by generally accepted accounting principles, Assets can be divided into e. g. current assets and fixed assets, often with further subdivisions such as cash, receivables and inventory. Assets are formally controlled and managed within larger organizations via the use of asset tracking tools and these monitor the purchasing, upgrading, servicing, licensing, disposal etc. of both physical and non-physical assets. Current assets are cash and other assets expected to be converted to cash or consumed either in a year or in the operating cycle and these assets are continually turned over in the course of a business during normal business activity. There are 5 major items included into current assets, Cash and cash equivalents – it is the most liquid asset, which includes currency, deposit accounts, short-term investments – include securities bought and held for sale in the near future to generate income on short-term price differences. Receivables – usually reported as net of allowance for non-collectable accounts, inventory – trading these assets is a normal business of a company. The inventory value reported on the sheet is usually the historical cost or fair market value. This is known as the lower of cost or market rule, prepaid expenses – these are expenses paid in cash and recorded as assets before they are used or consumed
Asset
–
Accounting
17.
Equity (finance)
–
In accounting, equity is the difference between the value of the assets and the value of the liabilities of something owed. Equity can be negative if liabilities exceeds assets, shareholders equity represents the equity of a company as divided among shareholders of common or preferred stock. Negative shareholders equity is often referred to as a shareholders deficit, alternatively, equity can also refer to the capital stock of a corporation. The value of the stock depends on the future economic prospects. For a company in liquidation proceedings, the equity is that which remains after all liabilities have been paid, when starting a business, the owners fund the business to finance various operations. Throughout the businesss existence, the equity of the business will be the difference between its assets and debt liabilities, this is the accounting equation, when a business liquidates during bankruptcy, the proceeds from the assets are used to reimburse creditors. The creditors are ranked by priority, with secured creditors being paid first, other creditors being paid next, owners equity is this remaining or residual claim against assets, which is paid only after all other creditors are paid. In such cases where even creditors could not get money to pay their bills. In financial accounting, owners equity consists of the net assets of an entity, net assets is the difference between the total assets and total liabilities. Equity appears on the sheet, one of the four primary financial statements. The assets of an entity can be tangible and intangible items. Intangible assets include such as brand names, copyrights or goodwill. Tangible assets include land, equipment, and cash, issue of new equity in which the firm obtains new capital increases the total shareholders equity. Share repurchases, in which a firm returns money to investors, reducing on the side its financial assets. For practical purposes, share repurchasing is similar to a dividend payment, rather than giving money to all shareholders immediately in the form of a dividend payment, a share repurchase reduces the number of shares outstanding. Dividends paid out to preferred stock owners are considered an expense to be subtracted from net income, sometimes assets bought and held in other countries get translated back into the reporting currency at different exchange rates, resulting in a changed value. When the owners are shareholders, the interest can be called shareholders equity, the remains the same. If all shareholders are in one and the class, they share equally in ownership equity from all perspectives
Equity (finance)
–
Accounting
18.
Exor (company)
–
Exor N. V. is a leading investment company, controlled by the Agnelli family. It has a capitalization of over US$13 billion, with a history of running over a century. Its principal investments include Fiat Chrysler Automobiles, CNH Industrial and Ferrari, resultantly, Exor is first as an economic group in Italy for sales volume, and the 19th in the world. Declared shareholdings as of March 2016, Main Exor N. V, in 1963 it extended its operations to the banking system and changed its name to Istituto Bancario Italiano Laniero. IFI gained holdings in numerous firms over the decades, including Unicem and 3M, IFI listed preference shares on the Borsa Italiana in 1968. A reorganisation of the Agnelli familys holdings in 2008 led to the merger of IFI and IFIL to create Exor, the family firm Giovanni Agnelli B. V. owns 52. 99% of the share capital. Exor is ranked 19th richest company according to the 2015 Fortune Global 500 list, in 2015 Exor bought PartnerRe with a bid of $140 per share. Originally it had offered $130 per share and in response Axis Re offered $120.31 per share in paper plus $11.50 in a pre-closing dividend. On August 12,2015, the announced that Exor will purchase three-fifths of the Economist Group shares currently owned by Pearson PLC. Exor held shares in the Economist Group prior to this purchase and this is considered to be the most important change to The Economists shareholding structure in almost 90 years. Pearson PLC which also owns the Financial Times has had a non-controlling 50% stake in the Economist Group since 1928, the Economist Group will buy back the remained two-fifths of Pearson shares
Exor (company)
–
Exor S.p.A.
19.
Scuderia Ferrari
–
Scuderia Ferrari S. p. A. competing as Scuderia Ferrari is the official name of the racing division of luxury Italian auto manufacturer, Ferrari, and competes in Formula One racing. It is the oldest surviving and most successful Formula One team, the team was founded by Enzo Ferrari, initially to race cars produced by Alfa Romeo, though by 1947 Ferrari had begun building its own cars. As a constructor, Ferrari has a record 16 Constructors Championships, Alberto Ascari, Juan Manuel Fangio, Mike Hawthorn, Phil Hill, John Surtees, Niki Lauda, Jody Scheckter, Michael Schumacher and Kimi Räikkönen have won a record 15 Drivers Championships for the team. Since Räikkönens title in 2007 the team narrowly lost out on the 2008 drivers title with Felipe Massa, Schumacher is the teams most successful driver. Joining the team in 1996 and departing in 2006 he won five titles and 72 Grands Prix for the team. His titles came consecutively between 2000 and 2004, including the constructors title of 1999 consecutively being won until the end of 2004, this was the teams most successful period. Currently, World Champions Kimi Räikkönen and Sebastian Vettel are the two race drivers. The team is known for its passionate support base known as the tifosi. The Italian Grand Prix at Monza is regarded as the home race. The Scuderia Ferrari team was founded by Enzo Ferrari on 16 November 1929 and became the team of Alfa Romeo. In 1938, Alfa Romeo management made the decision to enter racing under its own name, establishing the Alfa Corse organisation, Enzo Ferrari disagreed with this change in policy and was finally dismissed by Alfa in 1939. The terms of his leaving forbade him from motorsport under his own name, in 1939 Ferrari started work on a racecar of his own, the Tipo 815. The 815s, designed by Alberto Massimino, were thus the first Ferrari cars, World War II put a temporary end to racing, and Ferrari concentrated on an alternative use for his factory during the war years, doing machine tool work. After the war, Ferrari recruited several of his former Alfa colleagues and established a new Scuderia Ferrari, the team owns and operates a test track on the same site, the Fiorano Circuit built in 1972, which is used for testing road and race cars. The team is named after its founder, Enzo Ferrari, Scuderia is Italian for a stable reserved for racing horses and is also commonly applied to Italian motor racing teams. In 1947 Ferrari constructed the 12-cylinder,1.5 L Tipo 125, a Formula One version of the Tipo 125, the Ferrari 125 F1 was developed in 1948 and entered in several Grand Prix, at the time a World Championship had not yet been established. In 1950, the Formula One World Championship was established, and it is the only team to have competed in every season of the World Championship, from its inception to the current day. The company later switched to the large-displacement naturally aspirated formula for the 275,340, after the 1951 Formula One season the Alfa team withdrew from F1, causing the authorities to adopt the Formula Two regulations due to the lack of suitable F1 cars
Scuderia Ferrari
–
Phil Hill driving for Ferrari at the
1962 German Grand Prix.
Scuderia Ferrari
–
Ferrari
Scuderia Ferrari
–
Lorenzo Bandini driving for Ferrari at the
1966 German Grand Prix.
Scuderia Ferrari
–
Niki Lauda driving for Ferrari at the
1976 German Grand Prix.
20.
Italy
–
Italy, officially the Italian Republic, is a unitary parliamentary republic in Europe. Located in the heart of the Mediterranean Sea, Italy shares open land borders with France, Switzerland, Austria, Slovenia, San Marino, Italy covers an area of 301,338 km2 and has a largely temperate seasonal and Mediterranean climate. Due to its shape, it is referred to in Italy as lo Stivale. With 61 million inhabitants, it is the fourth most populous EU member state, the Italic tribe known as the Latins formed the Roman Kingdom, which eventually became a republic that conquered and assimilated other nearby civilisations. The legacy of the Roman Empire is widespread and can be observed in the distribution of civilian law, republican governments, Christianity. The Renaissance began in Italy and spread to the rest of Europe, bringing a renewed interest in humanism, science, exploration, Italian culture flourished at this time, producing famous scholars, artists and polymaths such as Leonardo da Vinci, Galileo, Michelangelo and Machiavelli. The weakened sovereigns soon fell victim to conquest by European powers such as France, Spain and Austria. Despite being one of the victors in World War I, Italy entered a period of economic crisis and social turmoil. The subsequent participation in World War II on the Axis side ended in defeat, economic destruction. Today, Italy has the third largest economy in the Eurozone and it has a very high level of human development and is ranked sixth in the world for life expectancy. The country plays a prominent role in regional and global economic, military, cultural and diplomatic affairs, as a reflection of its cultural wealth, Italy is home to 51 World Heritage Sites, the most in the world, and is the fifth most visited country. The assumptions on the etymology of the name Italia are very numerous, according to one of the more common explanations, the term Italia, from Latin, Italia, was borrowed through Greek from the Oscan Víteliú, meaning land of young cattle. The bull was a symbol of the southern Italic tribes and was often depicted goring the Roman wolf as a defiant symbol of free Italy during the Social War. Greek historian Dionysius of Halicarnassus states this account together with the legend that Italy was named after Italus, mentioned also by Aristotle and Thucydides. The name Italia originally applied only to a part of what is now Southern Italy – according to Antiochus of Syracuse, but by his time Oenotria and Italy had become synonymous, and the name also applied to most of Lucania as well. The Greeks gradually came to apply the name Italia to a larger region, excavations throughout Italy revealed a Neanderthal presence dating back to the Palaeolithic period, some 200,000 years ago, modern Humans arrived about 40,000 years ago. Other ancient Italian peoples of undetermined language families but of possible origins include the Rhaetian people and Cammuni. Also the Phoenicians established colonies on the coasts of Sardinia and Sicily, the Roman legacy has deeply influenced the Western civilisation, shaping most of the modern world
Italy
–
The
Colosseum in Rome, built c. 70 – 80 AD, is considered one of the greatest works of
architecture and
engineering of ancient history.
Italy
–
Flag
Italy
–
The
Iron Crown of Lombardy, for centuries symbol of the
Kings of Italy.
Italy
–
Castel del Monte, built by German Emperor
Frederick II,
UNESCO World Heritage site
21.
Manufacturer
–
Manufacturing is the value added to production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation. Manufacturing engineering or manufacturing process are the steps through which raw materials are transformed into a final product, the manufacturing process begins with the product design, and materials specification from which the product is made. These materials are modified through manufacturing processes to become the required part. Manufacturing takes turns under all types of economic systems, in a free market economy, manufacturing is usually directed toward the mass production of products for sale to consumers at a profit. In a collectivist economy, manufacturing is more directed by the state to supply a centrally planned economy. In mixed market economies, manufacturing occurs under some degree of government regulation, modern manufacturing includes all intermediate processes required the production and integration of a products components. Some industries, such as semiconductor and steel manufacturers use the term fabrication instead, the manufacturing sector is closely connected with engineering and industrial design. Examples of major manufacturers in North America include General Motors Corporation, General Electric, Procter & Gamble, General Dynamics, Boeing, Pfizer, examples in Europe include Volkswagen Group, Siemens, and Michelin. Examples in Asia include Sony, Huawei, Lenovo, Toyota, Samsung, in its earliest form, manufacturing was usually carried out by a single skilled artisan with assistants. In much of the world, the guild system protected the privileges. Before the Industrial Revolution, most manufacturing occurred in rural areas, entrepreneurs organized a number of manufacturing households into a single enterprise through the putting-out system. Toll manufacturing is an arrangement whereby a first firm with specialized equipment processes raw materials or semi-finished goods for a second firm, manufacturing provides important material support for national infrastructure and for national defense. On the other hand, most manufacturing may involve significant social and environmental costs, the clean-up costs of hazardous waste, for example, may outweigh the benefits of a product that creates it. Hazardous materials may expose workers to health risks and these costs are now well known and there is effort to address them by improving efficiency, reducing waste, using industrial symbiosis, and eliminating harmful chemicals. The negative costs of manufacturing can also be addressed legally, developed countries regulate manufacturing activity with labor laws and environmental laws. Across the globe, manufacturers can be subject to regulations and pollution taxes to offset the costs of manufacturing activities. Labor unions and craft guilds have played a role in the negotiation of worker rights. Environment laws and labor protections that are available in developed nations may not be available in the third world, tort law and product liability impose additional costs on manufacturing
Manufacturer
–
Textile factory (
Germany, circa 1975).
Manufacturer
Manufacturer
–
Assembly of Section 41 of a
Boeing 787 Dreamliner
Manufacturer
–
A female industrial
worker amidst heavy steel semi-products (KINEX BEARINGS,
Bytča,
Slovakia, c. 1995–2000)
22.
Alfa Romeo
–
Alfa Romeo Automobiles S. p. A. is an Italian car manufacturer, founded as A. L. F. A. on 24 June 1910, in Milan. The brand is known for sporty vehicles and has involved in car racing since 1911. The company was owned by Italian state holding company Istituto per la Ricostruzione Industriale between 1932 and 1986, when it became a part of the Fiat group, in February 2007, the Alfa Romeo brand became Alfa Romeo Automobiles S. p. A. A subsidiary of Fiat Group Automobiles, now Fiat Chrysler Automobiles Italy, the company that became Alfa Romeo was founded as Società Anonima Italiana Darracq in 1906 by the French automobile firm of Alexandre Darracq, with Italian investors. In late 1909, the Italian Darracq cars were selling slowly, on 24 June 1910, a new company was founded named A. L. F. A. Initially still in partnership with Darracq, the first non-Darracq car produced by the company was the 191024 HP, designed by Merosi. Ventured into motor racing, with drivers Franchini and Ronzoni competing in the 1911 Targa Florio with two 24-hp models. In August 1915, the company came under the direction of Neapolitan entrepreneur Nicola Romeo, in 1920, the name of the company was changed to Alfa Romeo with the Torpedo 20-30 HP the first car to be so badged. In 1921, the Banca Italiana di Sconto, which backed the Ing, Nicola Romeo & Co, went broke and the government needed to support the industrial companies involved, among which was Alfa Romeo, through the Consorzio per Sovvenzioni sui Valori Industriali. In 1925, the activities were separated from the Romeo company. In 1933, the ownership was reorganized under the banner of the Istituto per la Ricostruzione Industriale by Benito Mussolinis government. The company struggled to return to profitability after the Second World War, in 1954, it developed the Alfa Romeo Twin Cam engine, which would remain in production until 1994. Alfa Romeo has competed successfully in Grand Prix motor racing, Formula One, sportscar racing, touring car racing and it has competed both as a constructor and an engine supplier, via works entries, and private entries. The first racing car was made in 1913, three years after the foundation of the company, and Alfa Romeo won the world championship for Grand Prix cars in 1925. The company gained a name in motorsport, which gave a sporty image to the whole marque. Enzo Ferrari founded the Scuderia Ferrari racing team in 1929 as an Alfa Romeo racing team and it holds the worlds title of the most wins of any marque in the world. The companys name is a combination of the name, A. L. F. A. and the last name of entrepreneur Nicola Romeo. The company that became Alfa Romeo was founded as Società Anonima Italiana Darracq in 1906 by the French automobile firm of Alexandre Darracq, One of them, Cavaliere Ugo Stella, an aristocrat from Milan, became chairman of the SAID in 1909
Alfa Romeo
–
A 1908 Darracq 8/10 HP assembled by Alfa Romeo's predecessor, Darracq Italiana
Alfa Romeo
–
Alfa Romeo Automobiles S.p.A.
Alfa Romeo
–
The A.L.F.A 24 hp (this is with
Castagna torpedo body) was the first car made by Anonima Lombarda Fabbrica Automobili (A.L.F.A) in 1910.
Alfa Romeo
–
8C 2900B Touring Spider (1937)
23.
Auto Avio Costruzioni 815
–
The Auto Avio Costruzioni 815 was the first car to be fully designed and built by Enzo Ferrari. Legal issues with former associates Alfa Romeo prevented Ferrari from creating the Ferrari marque, the 815 raced at the 1940 Brescia Grand Prix, where both entries failed to finish due to engine problems. One of the cars was later scrapped, while the other is currently in a car collection in Italy, in 1938, Ferrari left Alfa Romeo after running Scuderia Ferrari as their racing division. The agreement ending their association forbade Ferrari from restarting Scuderia Ferrari within the four years. The race, a successor to the Mille Miglia, was to be run in April 1940, the resulting car was named the AAC Tipo 815. The 815 was designed and developed by ex-Alfa Romeo engineers Alberto Massimino and Vittorio Bellentani, the designation 815 was based on the cars eight-cylinder,1.5 L engine. This engine was based on the four-cylinder,1.1 L engine of the 508 C Balilla 1100. The engine used Fiat valve gear, cylinder heads, and connecting rods, the engine was high-tech for the time, with a single overhead camshaft, two valves per cylinder, and a semi-dry sump lubrication system. Four Weber 30DR2 carburettors were specified for an output of 75 hp at 5500 rpm. The 815 used a Fiat four-speed transmission with the Fiat gears replaced by gears made in-house by AAC, the transmission was integral to the engine block. The car had independent Dubonnet suspension with shock absorber at front, with a live axle on semi-elliptic leaf springs. The bodywork was done by Carrozzeria Touring using Itallumag 35, an aluminium/magnesium alloy, the complete car weighed 625 kg and attained a maximum speed close to 170 km/h. Two 815s, numbers 020 and 021, were completed and entered in the 1940 Brescia Grand Prix, Rangoni and Nardi raced in 020, while Ascari and Giuseppe Minozzi raced in 021. After leading the 1500 cc class in the first lap, Ascaris car developed valve problems, Rangoni then took the lead, set the lap record for the class, and had a lead of more than half an hour when his engine failed after seven laps. Lotario Rangoni died during the Second World War and his brother, Rolando, the car was scrapped in 1958. 021, was sold to racer Enrico Beltracchini who raced it in 1947, after selling the car to a museum and then buying it back, Beltracchini sold it again to Mario Righini. As at 2006, Type 815 no.021 was still in Righinis collection, media related to Auto Avio Costruzioni 815 at Wikimedia Commons
Auto Avio Costruzioni 815
–
Auto Avio Costruzioni 815
Auto Avio Costruzioni 815
Auto Avio Costruzioni 815
24.
Auto manufacturer
–
The automotive industry is a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles, some of them are called automakers. It is one of the worlds most important economic sectors by revenue, the term automotive was created from Greek autos, and Latin motivus to represent any form of self-powered vehicle. This term was proposed by Elmer Sperry, the automotive industry began in the 1890s with hundreds of manufacturers that pioneered the horseless carriage. For many decades, the United States led the world in automobile production. In 1929, before the Great Depression, the world had 32,028,500 automobiles in use, at that time the U. S. had one car per 4.87 persons. After World War II, the U. S. produced about 75 percent of auto production. In 1980, the U. S. was overtaken by Japan, in 2006, Japan narrowly passed the U. S. in production and held this rank until 2009, when China took the top spot with 13.8 million units. With 19.3 million units manufactured in 2012, China almost doubled the U. S. production, with 10.3 million units, from 1970 over 1998 to 2012, the number of automobile models in the U. S. has grown exponentially. Safety is a state that implies to be protected from any risk, danger, in the automotive industry, safety means that users, operators or manufacturers do not face any risk or danger coming from the motor vehicle or its spare parts. Safety for the automobiles themselves, implies there is no risk of damage. Safety in the industry is particularly important and therefore highly regulated. Automobiles and other vehicles have to comply with a certain number of norms and regulations, whether local or international. The standard ISO26262, is considered as one of the best practice framework for achieving automotive functional safety. In case of safety issues, danger, product defect or faulty procedure during the manufacturing of the motor vehicle and this procedure is called product recall. Product recalls happen in every industry and can be production-related or stem from the raw material, however, the automotive industry is still particularly concerned about product recalls, which cause considerable financial consequences. Around the world, there were about 806 million cars and light trucks on the road in 2007, consuming over 980 billion litres of gasoline, the automobile is a primary mode of transportation for many developed economies. The Detroit branch of Boston Consulting Group predicts that, by 2014, meanwhile, in the developed countries, the automotive industry has slowed down. It is also expected that this trend will continue, especially as the generations of people no longer want to own a car anymore
Auto manufacturer
–
Thomas B. Jeffery automobile factory in Kenosha, Wisconsin, c.1916
Auto manufacturer
–
Citroën assembly line in 1918
25.
Brand Finance
–
Brand Finance is an independent branded business valuation consultancy. It advises strongly branded organisations, or those with valuable assets, on how to maximise their value through effective management of their brand. Brand Finance has been certified with ISO10668,2010, Brand Finance was founded in 1996 by David Haigh, who qualified as a Chartered Accountant with Price Waterhouse in London. Prior to setting up Brand Finance, he was the Director of Interbrand’s global brand valuation practice in London, Brand Finance opened its first international offices in the USA, Singapore and Australia in 2000 and now has a global network of offices and partners in 20 countries worldwide. ISO10668 specifies three alternative brand valuation approaches - the Market, Cost and Income Approaches, the purpose of the brand valuation, the premise or basis of value and the characteristics of the subject brand dictate which primary approach should be used to calculate its value. For its annual league tables of the most valuable brands, Brand Finance employs a Royalty Relief methodology when calculating the value of a brand. The Royalty Relief approach is based on the assumption that if a company did not own the trademarks that it exploits, ownership therefore ‘relieves’ the company from paying a license fee for the use of the third party trademarks. This is held to represent the brand value, the brand rating is calculated using Brand Finances ßrandßeta® analysis which benchmarks the strength, risk and potential of a brand, relative to its competitors, on a scale ranging from AAA to D. It is conceptually similar to a credit rating, the data used to calculate the ratings comes from various sources including Bloomberg, annual reports, client-commissioned research and Brand Finance internal research. Each year Brand Finance produces a number of Brand League tables and they launch many of these in conjunction with industry leading publications. The BrandFinance® Banking 500 is published in The Banker magazine, Brandirectory is an online encyclopaedia of brands where financial results, visual identities, trademark histories and the latest marketing news is to be compiled and shared. The Brand Finance Institute is the education and training division of Brand Finance plc in which theoretical and practical issues surrounding brands are explored, Brand Finance Website Brandirectory Website Brand Finance Forum Website BrandGenius Website VI360 Website
Brand Finance
–
Brand Finance
26.
Ferrari 250 GTO
–
The Ferrari 250 GTO is a GT car produced by Ferrari from 1962 to 1964 for homologation into the FIAs Group 3 Grand Touring Car category. It was powered by Ferraris Tipo 168/62 V12 engine, the 250 in its name denotes the displacement in cubic centimeters of each of its cylinders, GTO stands for Gran Turismo Omologato, Italian for Grand Touring Homologated. Just 39250 GTOs were manufactured between 1962 and 1964 and this includes 33 cars with 1962-63 bodywork, three with 1964 bodywork similar to the Ferrari 250 LM, and three 330 GTO specials with a larger engine. Four of the older 1962-1963 cars were updated in 1964 with Series II bodies, when new, the GTO cost $18,000 in the United States, with buyers personally approved by Enzo Ferrari and his dealer for North America, Luigi Chinetti. In May 2012 the 1962250 GTO made for Stirling Moss set a record selling price of $38,115,000. In October 2013, Connecticut-based collector Paul Pappalardo sold chassis number 5111GT to a buyer for a new record of around $52 million. In 2004, Sports Car International placed the 250 GTO eighth on a list of Top Sports Cars of the 1960s, similarly, Motor Trend Classic placed the 250 GTO first on a list of the Greatest Ferraris of All Time. Popular Mechanics named it the Hottest Car of All Time, the 250 GTO was designed to compete in GT racing, where its rivals would include the Shelby Cobra, Jaguar E-Type and Aston Martin DP214. The development of the 250 GTO was headed by chief engineer Giotto Bizzarrini, although Bizzarrini is usually credited as the designer of the 250 GTO, he and most other Ferrari engineers were fired in 1962 due to a dispute with Enzo Ferrari. Further development of the 250 GTO was overseen by new engineer Mauro Forghieri, the design of the car was a collaborative effort and cannot be ascribed to a single person. The mechanical aspects of 250 GTO were relatively conservative at the time of its introduction, using engine, the chassis of the car was based on that of the 250 GT SWB, with minor differences in frame structure and geometry to reduce weight, stiffen and lower the chassis. The car was built around a hand-welded oval tube frame, incorporating A-arm front suspension, rear live-axle with Watts linkage, disc brakes, the engine was the race-proven Tipo 168/62 Comp. 3.0 L V12 as used in the 250 Testa Rossa Le Mans winner, an all-alloy design utilizing a dry sump and six 38DCN Weber carburetors, it produced approximately 300 horsepower. The gearbox was a new 5-speed unit with Porsche-type synchromesh, Bizzarrini focused his design effort on the cars aerodynamics in an attempt to improve top speed and stability. The body design was informed by wind tunnel testing at Pisa University as well as road, the resulting all-aluminium bodywork had a long, low nose, small radiator inlet, and distinctive air intakes on the nose with removable covers. Early testing resulted in the addition of a rear spoiler, the underside of the car was covered by a belly pan and had an additional spoiler underneath formed by the fuel tank cover. The aerodynamic design of the 250 GTO was a technical innovation compared to previous Ferrari GT cars. The bodies were constructed by Scaglietti, with the exception of early prototypes with bodies constructed in-house by Ferrari or by Pininfarina, Cars were produced in many colours, with the most famous being the bright red Rosso Cina
Ferrari 250 GTO
–
Ferrari 250 GTO
Ferrari 250 GTO
–
The Tipo 168/62
V12 engine
27.
United States dollar
–
The United States dollar is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent units, the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. The U. S. dollar was originally commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain pure or 416 grain standard silver, the currency most used in international transactions, it is the worlds primary reserve currency. Several countries use it as their currency, and in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean, the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while the country mints its own coins, or also accepts U. S. coins that can be used as payment in U. S. dollars. After Nixon shock of 1971, USD became fiat currency, Article I, Section 8 of the U. S. Constitution provides that the Congress has the power To coin money, laws implementing this power are currently codified at 31 U. S. C. Section 5112 prescribes the forms in which the United States dollars should be issued and these coins are both designated in Section 5112 as legal tender in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, the pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the minting and issuance of other coins and these other coins are more fully described in Coins of the United States dollar. The Constitution provides that a regular Statement and Account of the Receipts and that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the Statements are currently being expressed in U. S. dollars, the U. S. dollar may therefore be described as the unit of account of the United States. The word dollar is one of the words in the first paragraph of Section 9 of Article I of the Constitution, there, dollars is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act, Section 20 of the act provided, That the money of account of the United States shall be expressed in dollars, or units. And that all accounts in the offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. In other words, this act designated the United States dollar as the unit of currency of the United States, unlike the Spanish milled dollar the U. S. dollar is based upon a decimal system of values. Both one-dollar coins and notes are produced today, although the form is significantly more common
United States dollar
–
Series of 1917
$1 United States bill
United States dollar
–
Federal Reserve Notes
United States dollar
–
Spanish silver real or
peso of 1768
United States dollar
–
Obverse of rare 1934 $500 Federal Reserve Note, featuring a portrait of President
William McKinley.
28.
Craig McCaw
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Craig McCaw is an American businessman and entrepreneur, a pioneer in the cellular phone industry. He is the founder of McCaw Cellular and Clearwire Corporation, Craig is the second of four sons of Marion and John Elroy McCaw. McCaws father was a magnate and owner of Gotham Broadcasting Corporation. WINS which became one of the first stations to play rock, alan Freed was the earliest famous personality disc jockey on the show. McCaws father was in the business of buying and selling TV and radio stations, Elroy entered the cable television business in the 1960s, and his four sons worked as linemen and door-to-door salesmen. When Elroy died, the company not sold to repay the debt was the small Centralia cable company with estimated 2,000 to 4,000 subscribers. During his senior year at Stanford, Craig took the helm of the cable company and he used the cash flows from his growing cable company to purchase other remote cable companies, resulting in a profitable conglomerate. By the 1980s, McCaw Cablevision was the 20th largest cable carrier in the US, when the FCC held a lottery for cellular licenses in the early 1980s, many ordinary Americans got rich by winning the right to establish cellular systems in cities across America. In addition to entering the lottery himself, McCaw approached many other winners and bought their cellular rights. Using the same tactic hed used in cable TV, McCaw financed an aggressive expansion by borrowing against. After acquiring MCIs cellular wing in 1986, the McCaw brothers sold the company to Cooke Cablevision. The combined cellular operation was a significant player in the field, in 1990, McCaw was the highest paid CEO in the US. In 1994, the McCaw brothers sold McCaw Cellular to AT&T Corporation for $11.5 billion, the company was renamed AT&T Wireless. AT&T Wireless was sold to Cingular in 2004 to become the nations largest wireless carrier, following the sale of McCaw Cellular, McCaw took interest in Nextel, a then-floundering wireless carrier. By April 1995 McCaw gained effective control of the company contributing, along with his brothers, within four years Nextel grew significantly to become a challenging wireless competitor, servicing 3.6 million customers throughout the U. S. and ten of the largest international markets. In 1999 McCaw formed Nextel Partners, Inc. which was acquired by Sprint Nextel, Inc. for $6.5 billion in 2006. Later that same year, McCaw founded NEXTLINK Communications, planning to enter the broadband, in 2000, the company merged with Concentric Network and was renamed XO Communications. The company filed for protection in 2002
Craig McCaw
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Craig McCaw in May 2008
29.
Fiat S.p.A.
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The Fiat Group contained many brands such as Ferrari, Maserati, Fiat, Alfa Romeo, the Chrysler Group, and many more. On 29 January 2014, it was announced that Fiat S. p. A. was to be merged into a new Netherlands-based holding company Fiat Chrysler Automobiles NV, Fiat Chrysler Automobiles became the new owner of Fiat Group. On 1 August 2014, Fiat S. p. A. received necessary shareholder approval to proceed with the merger, the merger became effective 12 October 2014. Fiat was founded in 1899 by a group of investors, including Giovanni Agnelli, during its more than century-long history, Fiat has also manufactured railway engines and carriages, military vehicles, farm tractors, and aircraft. In 2013, Fiat was the second largest European automaker by volumes produced, and the seventh in the world ahead of Honda, PSA Peugeot Citroën, Suzuki, Renault, and Daimler AG. Fiat Group currently produces vehicles under twelve brands, Abarth, Alfa Romeo, Chrysler, Dodge, Ferrari, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Ram Trucks, and SRT. In 1970, Fiat employed more than 100,000 in Italy when its production reached the highest number,1.4 million cars, in that country. As of 2002, Fiat built more than 1 million vehicles at six plants in Italy, fiat-brand cars are built in several locations around the world. Outside Italy, the largest country of production is Brazil, where the Fiat brand is the market leader, the group also has factories in Argentina, Poland and Mexico and a long history of licensing manufacture of its products in other countries. It also has alliances and joint ventures around the world. He was succeeded briefly by Paolo Fresco, who served as chairman, Umberto Agnelli then took over as chairman from 2003 to 2004. After Umberto Agnellis death on 28 May 2004, Luca Cordero di Montezemolo was named chairman, with Agnelli heir John Elkann becoming vice chairman, on 1 June 2004, Giuseppe Morchio was replaced by Sergio Marchionne as CEO. Giovanni Agnelli, with investors, founded the Fabbrica Italiana Automobili Torino società per azioni. Its acronymous name was changed to upper- and lower-case Fiat in 1906, Agnelli led the company until his death in 1945, while Vittorio Valletta administered the firms daily activities. Its first car the 3 ½ CV strongly resembled contemporary Benz, in 1903, Fiat produced its first truck. In 1908, the first Fiat was exported to the US and that same year, the first Fiat aircraft engine was produced. Also around the time, Fiat taxis became popular in Europe. By 1910, Fiat was the largest automotive company in Italy—a position it has retained since and that same year, a new plant was built in Poughkeepsie, NY, by the newly founded American F. I. A. T
Fiat S.p.A.
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Fiat 3 ½ CV (1899)
Fiat S.p.A.
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Fiat S.p.A.
Fiat S.p.A.
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Corso Dante plant
Fiat S.p.A.
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Fiat tractor in a 1919 American magazine article
30.
Fiat Chrysler Automobiles
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Fiat Chrysler Automobiles NV, also known as FCA, is an Italian-controlled multinational corporation incorporated in the Netherlands. And currently the world’s seventh-largest auto maker, the group was established in late 2014 by merging Fiat S. p. A. into a new holding company, Fiat Chrysler Automobiles N. V. which is incorporated in the Netherlands for tax purposes. The holding company is listed on the New York Stock Exchange, exor S. p. A, an Italian investment group owned by the Agnelli family, owns 29. 19% of FCA and controls 44. 31% through a loyalty voting mechanism. FCA’s mass-market brands operates through two main subsidiaries, FCA Italy and FCA US, the company’s portfolio includes many well-known automotive names including Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram Trucks, Abarth, Mopar and SRT. FCA also owns Maserati, Comau, Magneti Marelli, and Teksid, today FCA operates in four regions. The CEO and executive management including twenty-two employees work between Auburn Hills, Michigan and Turin, Italy, FCA carries out its mass-market automotive operations through two main subsidiaries, FCA Italy and FCA US. Both name changes were announced in December 2014, FCA Italy includes the Italian-based brands that include Abarth, Alfa Romeo, Fiat, Fiat Professional, Lancia and the engine manufacturing subsidiary VM Motori. FCA US includes the American-based brands that include Chrysler, Dodge, Jeep, other companies include luxury car and components manufacturers as well as firms working on production automation and metal foundry. Other joint ventures and subsidiaries are undertaken via the FCA Italy, FCA also operates in the print media and advertising fields through its Italiana Editrice subsidiary and an interest in RCS Media Group. In January 2016, Ferrari became an independent company, after FCA listed 10% of the company on the NYSE in October 2015, the integration between Fiat and Chrysler dates back to 2009 after Chrysler filed for Chapter 11 bankruptcy reorganization on 30 April 2009. On 10 June 2009, Chrysler emerged from the proceedings with the United Auto Workers pension fund, Fiat. Overall, to acquire Chrysler cost Fiat US$4.9 billion, on 29 January 2014 Fiat announced a reorganization and intended merger into a new holding company. Fiat S. p. A. merged into FCA on 12 October 2014 following approval of the board on 15 June 2014, on 29 October 2014 the group announced the intention to separate Ferrari S. p. A. from FCA. The transaction was completed on 3 January 2016, on July 14,2015, Fiat Chrysler Automobiles NV chief executive Sergio Marchionne and Dennis Williams, President of the United Auto Workers entered into negotiations on July 14,2015. As negotiations between the UAW and Detroit Three automakers began, Marchionne leaned in to embrace Williams in a hug seen round the world, on May 6,2014, Fiat Chrysler Automobiles announced its 5-year business plan. The Group updated its business plan targets in January 2016 at the time FY2015 were announced, much of the global growth will be focused around Jeep, due to its high visibility globally as well as the growing SUV market in developing markets. Chrysler will be re-positioned as the companys mainstream North American brand to compete with Ford, Chevrolet, Toyota, and Volkswagen, while Dodge will focus on performance-based vehicles. Alfa Romeo will become the premium marque to compete with Mercedes-Benz, BMW
Fiat Chrysler Automobiles
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Marques
Fiat Chrysler Automobiles
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Fiat Chrysler Automobiles N.V.
8,014 units (2016)
€3.850 billion (2016)
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