Chrysler's IPO: Fiat, the Italian car company that currently owns Chrysler Group, has announced that Chrysler Group will delay its plans to sell shares to the public until the first quarter of next year. Initially, Chrysler's IPO was set for later this year but that was later determined to not be feasible. The shares set to be sold belong to a union-controlled trust fund that was set up in 2007 to pay health care costs for Chrysler retirees, one which owns 41.5% of Chrysler shares.
Foxconn in Pennsylvania: Foxconn, the Taiwanese electronics contract manufacturer to tech conglomerates such as Apple, has stated that it will spend $30 million on a new factory in the Harrisburg, Pa., area that will employ up to 500 people. It is also giving $10 million to Carnegie Mellon University, also located in Pennsylvania, as part of a strategic research and development partnership. It currently has plants in Texas and Indiana, but the vast majority of its operations take place in China, where its operations employ as many as 190,000 workers at a single factory.
Bitcoin and Virgin Galactic: Richard Branson announced on Friday that his commercial space travel venture, Virgin Galactic, will allow customers to pay for their flights with the digital currency Bitcoin. Virgin Galactic is a company that plans to provide suborbital spaceflights to space tourists, suborbital launches for space science missions, and orbital launches of small satellites starting next year. Bitcoin is a volatile electronic currency that was created anonymously in 2010 as an experimental form of money that is not regulated by any central authority and is practically untraceable. Branson noted that "One future astronaut, a female flight attendant from Hawaii, has already purchased her Virgin Galactic ticket using bitcoins, and we expect many more to follow in her footsteps."
Tesla Model S: Consumer Reports announced Thursday that the Model S had topped its annual owner satisfaction survey. The all-electric luxury sedan earned a satisfaction score of 99 out of a possible 100, which was the highest score in years. This is the latest in the string of accolades for the Model S. Motor Trend and Automobile Magazine both named it "Car of the Year" in 2012, and Consumer Reports says it's the best car they've ever tested. Tesla Model S prices start at $70,000 in the U.S., and the car was joined near the top of Consumer Reports' owner survey by a number of other expensive vehicles, including the Porsche Boxster and the Audi A6.