Addressing analysts on a conference call last week, Fiat Chrysler Automobiles CEO Sergio Marchionne made a presentation he called "Confessions of a Capital Junkie: An Insider Perspective on the Cure for the Industry's Value-destroying Addiction to Capital."
Marchionne was making the case for industry consolidation but he also listed five things he insisted the presentation was not:
1. "An excuse for FCA's current ranking in the automotive food chain."
2. "Putting FCA up for sale."
3. "A revision to our 5-year plan (which remains a firm commitment)."
4. "A matter of life or death for FCA."
5. "SM's final big deal."