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Fiat S.p.A. is an automobile manufacturer, financial and industrial group based in Turin, Northern Italy. The name is the acronym of Fabbrica Italiana Automobili Torino (Italian Car Factory of Turin), founded by Giovanni Agnelli in 1899. His grandson Gianni Agnelli was Fiat chairman from 1966 until his death on January 24, 2003, when he was succeeded by his brother Umberto Agnelli. After Umberto Agnelli's death on May 28, 2004, Luca Cordero di Montezemolo was named chairman, but Agnelli heir John Elkann became vice chairman at age 28 and other family members are on the board. At this point, CEO Giuseppe Morchio immediately offered his resignation. Sergio Marchionne was named to replace him on June 1, 2004. History and activitiesThe group's activities were initially focused on the industrial production of cars, industrial and agricultural vehicles. Over time it has diversified into many other fields, and the group now has activities in a wide range of sectors in industry and financial services. It is Italy's largest industrial concern. It also has significant worldwide operations, operating in 61 countries with 1,063 companies that employ over 223,000 people, 111,000 of whom are outside Italy. Fiat built the famous Lingotto car factory, opened in 1923. Fiat was to make military machinery and vehicles during World War II for the Italian Army and Air Force. Fiat made fighter aircraft, which was one of the most common Italian aircraft used along with the Savoia-Marchetti, and also made light tanks and armored vehicles. These machinery were weak compared to some of the German and Soviet machinery, but were still used often. Fiat corporation, starting from the late 1960s, has bought (or gained control of) a wide range of companies, including:
In the 1970s and 1980s, the company became a pioneer in the use of industrial robotics for the assembly of motor vehicles. Fiat assembly plants are among the most automated and advanced in the world.
Fiat supports the Fondazione Giovanni Agnelli, an important foundation for social and economic research. Palazzo Grassi, a famous ancient building in Venice, now a museum and formerly supported by Fiat, was eventually sold to the Venice casino in January 2005. The group is present in many countries, not only in the West. Notably, it was one of the first companies to built factories in soviet controlled countries, with the best known examples in Vladivostok, Kyiv and Togliattigrad. Being AutoVAZ (Lada), (most notably for the Lada Riva). Fiat also has a subsidiary in Poland at Tychy,(formerly called FSM) where Fiat's small cars (the 126, Cinquecento and now Seicento) are made. Fiat has factories in Brazil, Turkey, China and India, where local variants of Fiats are produced as well as the world car, the Palio. Fiat models imported into the USA were so infamous for poor reliability that the acronym FIAT was said to stand for "Fix it again, Tony". After Fiat ceased importing cars into the United States, however, they continued to be imported into Canada, as did Soviet versions of Fiat models. Fiat Car ModelsFiat Dino 1967 Fiat 1500 convertible 1965 Fiat X1/9 1979 Fiat 2000 spider 1982
European Car of the Year AwardsFiat cars have won the European Car of the Year Award 8 times
Fiat AcronymsFiat's history of cheap cars has left a negative image in many countries, especially Germany, where Fiat cars are considered unreliable and badly built. Among the most common "humorous" acronyms:
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Among the most common "humorous" acronyms:. At all relevant times, the Company stated that its "guiding principle is to consider (its) clients' best interests in all placements," and that it "(does not) represent the (companies)" and held itself out as a "trusted adviser and advocate, in effect representing their best interests in the market place.". Fiat's history of cheap cars has left a negative image in many countries, especially Germany, where Fiat cars are considered unreliable and badly built. Marsh operates by collecting advisory fees from its clients — mainly large corporations but also small and mid-size businesses, municipal governments, school districts and some individuals — in exchange for locating property and casualty insurance coverage for them. Fiat cars have won the European Car of the Year Award 8 times. In 2003, Marsh employed about 40,000 people, with annual revenues of $6.9 billion, up from $4.8 billion in 2001. After Fiat ceased importing cars into the United States, however, they continued to be imported into Canada, as did Soviet versions of Fiat models. It is a subsidiary of MMC. Fiat models imported into the USA were so infamous for poor reliability that the acronym FIAT was said to stand for "Fix it again, Tony". Marsh Inc. is a global risk and insurance services firm. Fiat has factories in Brazil, Turkey, China and India, where local variants of Fiats are produced as well as the world car, the Palio. It was renamed Marsh & McLennan in 1906. Fiat also has a subsidiary in Poland at Tychy,(formerly called FSM) where Fiat's small cars (the 126, Cinquecento and now Seicento) are made. McLennan in Chicago in 1905, becoming the world's largest insurance agency with annual premiums of $3 million ($59 million consumer price index adjusted). Being AutoVAZ (Lada), (most notably for the Lada Riva). Marsh and Donald R. Notably, it was one of the first companies to built factories in soviet controlled countries, with the best known examples in Vladivostok, Kyiv and Togliattigrad. Burrows, Marsh & McLennan was formed by Henry W. The group is present in many countries, not only in the West. MMC is the parent company of. Palazzo Grassi, a famous ancient building in Venice, now a museum and formerly supported by Fiat, was eventually sold to the Venice casino in January 2005. . Fiat supports the Fondazione Giovanni Agnelli, an important foundation for social and economic research. In 2003, it had over 60,000 employees and annual revenues over $11 billion. Fiat assembly plants are among the most automated and advanced in the world. Marsh & McLennan Companies (MMC) NYSE: MMC is a US-based global professional services and insurance broker firm. In the 1970s and 1980s, the company became a pioneer in the use of industrial robotics for the assembly of motor vehicles. Greenberg (- Oct 25, 2004). Fiat corporation, starting from the late 1960s, has bought (or gained control of) a wide range of companies, including:. CEO: Jeffrey W. These machinery were weak compared to some of the German and Soviet machinery, but were still used often. Bonsignore. Fiat made fighter aircraft, which was one of the most common Italian aircraft used along with the Savoia-Marchetti, and also made light tanks and armored vehicles. SVP, Executive Resources and Development: Francis N. Fiat was to make military machinery and vehicles during World War II for the Italian Army and Air Force. Wijnberg. Fiat built the famous Lingotto car factory, opened in 1923. CFO: Sandra S. It also has significant worldwide operations, operating in 61 countries with 1,063 companies that employ over 223,000 people, 111,000 of whom are outside Italy. Cherkasky. It is Italy's largest industrial concern. Chairman, CEO: Michael G. Over time it has diversified into many other fields, and the group now has activities in a wide range of sectors in industry and financial services. Greenberg resigned several weeks later. The group's activities were initially focused on the industrial production of cars, industrial and agricultural vehicles. The Attorney General announced in a release that two AIG executives pleaded guilty to criminal charges in connection with this illegal course of conduct and stated, "There is simply no responsible argument for a system that rigs bids, stifles competition and cheats customers." Former CEO Jeffrey W. . On October 14, 2004 the New York State Office of Attorney General Eliot Spitzer announced that it had commenced a civil action against Marsh for steering clients to preferred insurers with whom the Company maintained lucrative payoff agreements, and for soliciting rigged bids for insurance contracts from the insurers. Sergio Marchionne was named to replace him on June 1, 2004. Marsh also announced a partnership with Control Risks Group LLC to provide political risk assessment. At this point, CEO Giuseppe Morchio immediately offered his resignation. Paul Bremer as Chairman. After Umberto Agnelli's death on May 28, 2004, Luca Cordero di Montezemolo was named chairman, but Agnelli heir John Elkann became vice chairman at age 28 and other family members are on the board. On October 11, 2001 Marsh established a crisis consulting practice specializing in terrorism, with Ambassador L. His grandson Gianni Agnelli was Fiat chairman from 1966 until his death on January 24, 2003, when he was succeeded by his brother Umberto Agnelli. 295 employees were killed in the 9/11 terrorist attacks; they were working in Marsh's One World Trade Center offices located at the impact zone. The name is the acronym of Fabbrica Italiana Automobili Torino (Italian Car Factory of Turin), founded by Giovanni Agnelli in 1899. Cherkasky worked as the CEO of Kroll before the merger. is an automobile manufacturer, financial and industrial group based in Turin, Northern Italy. Current CEO Michael G. Fiat S.p.A. Kroll, a risk and security consulting firm, which was acquired in July 2004. Failure In Automotive Technology. Mercer, Inc., a collection of consulting firms (including Mercer Human Resource Consulting LLC) that generate $2.7 billion of MMC's 2003 revenue. Fehler In Allen Teilen (Mistakes in every part). Guy Carpenter & Company, a reinsurance intermediary, and. Für Italien Ausreichende Technik (Technology sufficient for Italy). MMC Capital, a private equity firm;. Fix It Again Tomorrow. Marsh Inc., a risk and insurance services firm which generated $6.9 billion of MMC's 2003 revenue;. Fix It Again, Tony. Putnam Investments, a money management firm with a well-known mutual fund family;. 2004: Fiat Panda (New). 1996: Fiat Brava/Bravo. 1995: Fiat Punto. 1989: Fiat Tipo. 1984: Fiat Uno. 1972: Fiat 127. 1970: Fiat 128. 1967: Fiat 124. X1/9. Uno. Ulysse. Topolino. Tipo. Tempra. Stilo. Siena. Seicento. Ritmo/Strada. Regata. Punto. Premio. Panda (also New Panda). Palio. Multipla. Marea. Idea. Duna (designed in Brazil). Ducato. Doblò. Dino. Croma. Coupé. Cinquecento. Bravo. Brava. Bianchina. Barchetta. Albea. 1100. 600. 500. 131. 130. 128. 127. 126. 125. Other activities include industrial securitisation (Consorzio Sirio), treasury (Fiat Geva), Fiat Information & Communication Services. Other services Fiat Gesco, KeyG Consulting, Sadi Customs Services, Easy Drive, RM Risk Management and Servizio Titoli are minor companies that work for public services, delivering services in economics and financial fields. Leisure The group owns the Sestrieres skiing facilities (being this village on Alps a creation of Agnelli family). Information technology - Fiat is present in IT fields and in communications with ICT - Information & Communication Technology, Espin, Global Value, TeleClient, Atlanet. Construction - Ingest Facility and Fiat Engineering work in various fields of construction, while IPI is a mediation company that also deals with the management of real estate properties. Financial services - An important insurance company, Toro Assicurazioni, allows Fiat to control a relevant part of this market (also with minor companies like Lloyd Italico, Augusta Assicurazioni) and to interact with some associated banks. A specialised advertising space reseller is Publikompass, supported by the Consorzio Fiat Media Center. Some national and local newspapers are owned or otherwise controlled by the different companies. Publishing - notably, Fiat group also owns important editorial brands, like La Stampa (created in 1926 for the famous newspaper), Itedi, Italiana Edizioni. Steelmaking and metallurgy - Fiat owns Teksid and produces machines for the industry (also for car factories) with Comau (now Comau Systems), which bought the American Pico, Renault Automation and Sciaky. Vehicle components - the major Italian component maker Magneti-Marelli is owned by Fiat, and in turn owns the other brands Carello, Automotive Lighting, Siem, Cofap, Jaeger, Solex, Veglia Borletti, Vitaloni and Weber; other accessory brands include Riv-Skf and Brazilian Cofap. Military vehicles, see Ariete. Aviation - aircraft and related components were produce by FiatAvio (now Avio, an independent company), which also controls EVL, a space industry. Buses - produced with the Fiat, Iveco or Irisbus names. Construction vehicles, produced by Fiat-Hitachi Construction and New Holland Construction. Agricultural vehicles - Fiat group also owns CNH Global, New Holland and the Canadian Flexy-Coils. Fiat also owns some brands of industrial vehicles including OM and Iveco. Car companies - the long list includes well known firms like Ferrari, Lancia, Autobianchi (already bought by Lancia), Alfa Romeo, Maserati and Innocenti. |