Did you know that FIAT is the world's third largest automaker in terms of production?

[Tobin S.]

It sold 4.4 million vehicles last year. Toyota is the world's largest automaker by far having sold around 10 million vehicles last year. But get this. FIAT's market cap is about $14.5 billion. That's basically how much the company is worth. Toyota is worth nearly $200 billion. Toyota is twice as large but worth about 14 times as much as FIAT. Do you remember Renault? That company is still kicking but it is way down the list of automakers in terms of production. However, Renault is worth about the same amount as FIAT.

I'd be willing to bet that many people have never heard of FIAT. It was a rather lackluster automaker with no market presence in America before...da-da-Daaah...it bought Chrysler, I think in 2013. Chrysler was headed for bankruptcy and FIAT swept in, bought the company and acquired a large share of the global automotive market in the process while taking on a huge amount of debt. That's how a company that big can be worth relatively so little in the eyes of investors. FIAT's stock sells for about $9 a share.

That's the kind of thing I've been thinking about all weekend. I just helped write a case study of FIAT for my capstone business course with three other students. Together we produced a 19 page paper with about 4500 words. It's actually harder to write a paper like that with several authors than it is to write it yourself. As well as being one of the authors, I was also the editor, so I had to format the paper and put all of the pieces together. Another student is going to put together a PowerPoint presentation to accompany the paper. I'm probably going to get roped into helping with that as well.

One more month. My final assignment is due by December 14. I will probably actually be done with everything before then. My degree will be conferred on December 31.

[rug]

1. I'm still wondering where the Yugo went wrong.

[Tobin S.]

2. That company might still be around

if their cars didn't fall apart as soon as you drove them off the lot.

[rug]

3. Are you having a graduation party?

[Tobin S.]

5. Several, probably.

There will be at least one in December and probably a couple, actually. One here in my new hometown and one with my folks back in Dayton. IU only has commencement once a year and that's in May. My wife says I should participate. A lot of our friends here are very proud of what I've been able to accomplish and they want to see me walk. Somebody on DU has said that they will throw me a virtual graduation party here.

There is a friend of my wife's family who is 87 years old. She graduated from Earlham, a local prestigious liberal arts school here in Richmond, back in the 40s- one of a few women back then to do so. She went with me when I was inducted into Delta Mu Delta in October of 2013, an honor society dedicated to recognizing academic excellence in business students. While we were eating there at the ceremony she gave me a little box. I opened it and it was her tassel from when she graduated. I'm going to be wearing it at commencement.

[CaliforniaPeggy]

4. I've heard of Fiat, my dear Tobin!

But I'm old, and remember them from decades ago...

One more month?

Congrats!

I knew you would do it.......

[Tobin S.]

7. Thank you!

After surviving that really tough math class from way back in the beginning, I knew I was going to do it, too. But it's still going to be one of the hardest things I have ever done in my life. Probably the second hardest thing, ranked well above quitting smoking, something that a lot of people call their most difficult accomplishment. The hardest thing for me will always be living with mental illness untreated for ten years.

But, yeah, working 50-55 hours a week and taking three classes a semester year round for 2.5 years is a tall order. Especially when you consider that I'm going to graduate with highest honors. I'm on pace to get all 'A's this semester so my GPA will be about 3.97 when I graduate. Only one grade lower than an 'A'- a 'B' in finance. That was one damn hard class.

[Kali]

6. SO excited for you!

[Tobin S.]

8. Thanks, Kali!

I hope all is well out there in the rural desert tonight.

[Kali]

9. Doing good,

had a bit of a fall round-up this weekend, worked about 50 head of big calves that we should have done this spring/summer. Still have some more catching up to do (when do I not? heh)

weather warmed back up to the low 80s - just gorgeous this weekend. only bad thing was coors light. that is what the cowboys drink. ugh.

[MADem]

10. I drove a FIAT for years.

It was actually a very reliable vehicle, notwithstanding the "Fix It Again, Tony" jokes.

[Paulie]

11. Flat is a nice little group of auto brands

Alfa Romeo
Chrysler
Dodge
Fiat
Jeep
Ferrari
Maserati

[Tobin S.]

16. They just announced at the end of October that they will be selling Ferrari.

It's all a part of a grand plan to grab a big chunk the Chinese market. They plan on starting with Jeeps.

[Gidney N Cloyd]

20. I thought the Chinese were making their own (counterfeit) Jeeps.

And when I think of Fiat, I think of the Fiat Spider back in the 70's

[jmowreader]

12. Fiat's market cap is that big because Fiat is a huge industrial conglomerate

[Tobin S.]

15. FIAT's market cap is actually pretty small for a company that size.

That's the point I was trying to make.

[elleng]

13. Great news, Tobin S., and interesting to hear some specifics of your studies.

And we'll all party with you December 31!

[Ron Obvious]

14. I've rented Fiat 500's in Europe

Really a fun little car to drive, but too small if you're arriving with a lot of suitcases, of course. I prefer them to Smart Cars because the latter have too low a ground clearance.

The engine actually shuts off when you're waiting at a traffic light and starts up again automatically when you step on the clutch to take off. Works great. Actually a lot of European cars do that. A bit disconcerting the first time it happens, but very sensible when you think about it.

[Art_from_Ark]

17. Back in the '70s, the joke was that FIAT meant

"Fixing It All the Time"

[alarimer]

18. Used to be known as "Fix-it-Again-Tony."

But I'd buy a Fiat 500, maybe. They're cute and I don't hear much about reliability issues anymore.

[kairos12]

19. Maybe in all the old days the next biggest company was the one that towed FIATS.