Sergio Marchionne, the CEO of Fiat Chrysler Automobiles (Fca) and the Uaw, the American car union, have reached a new contractual agreement in extremis which, if accepted by the grassroots, should avoid the strike plan already proclaimed in Detroit by the workers after the rejection of the first agreement.
Marchionne will have to pay more but can achieve two objectives: maintain social peace which in America is an integral part of his image as a successful top manager, open to dialogue with the unions and in harmony with the Obama presidency, and concentrate on the imminent IPO of Ferrari expected in days to debut on Wall Street.
