Author Archive: joeduncan

Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.

The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.

Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.

Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.

Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.

Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe that totaled 704 million euros ($903 [...]

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NEARLY 75 YEARS OF FAMILY AUCTION EXPERIENCE J oe Duncan was born in the summer of 1925 in Tellico Plains, Tennessee in the foothills of the Great Smokey Mountains and was immediately taken to Harriman, Tennessee as an infant in a horse drawn carriage with his Mother & Father. As a kid, he would listen to the souped up Fords and Chevy’s race moonshine on the back roads throughout the hills around the family farm, which was called Duncan Hollow. His Father was not a wealthy man, but had managed to buy enough property to establish a small farm to make a living and feed his family. At the age of 16, Joe dreamed of owning a 1940 Ford Coupe, but knew that he would never obtain one working on the family farm. Joe Duncan Navy Picture. At the age of 17, WWII was underway, and as most typical Tennesseans from the Volunteer state, he joined the Navy but lied about his age. In the days of very few phones and no internet, his age couldn’t be verified. Joe was shipped off to North Dakota for training, then to San Diego for deployment in the Pacific theater. Just befo [...]