he understood that marchionne was never going to come back. yeah. this is the news.carol: as you know better than anyone, sergio marchionne was an incredible auto executive. he was, as you write in your book, he was on the phone constantly. he was on whatsapp messaging people constantly. tommaso: absolutely and this is one of the reasons i personally started to feel worried about his health condition because he was suddenly off-line.

he discovered he had 24 hours to success marchionne.ee companies that were the old fiat when marchionne joined. the two numbers mentioned in my story is that marchionne wrote fiat was almost bankrupt and worth about $6 billion. when he left 14 years later, the three companies were worth about $80 billion. this is what he did in 14 years in terms of value. carol: a look back at sergio marchionne's legacy and it was quite a legacy >> he ran fiat -- -- it was quite a legacy. >> it really was. >> he ran fiat and then fiat and chrysler merged. since he took over in 2014, up 280% and then the shares, hovering in the small trading range as they await the uncertainty of what comes next but this is why in the 2017 annual report, they said he was so critical to company strategy given the performance of the share price. carol: growing market cap, growing revenues. another great chart. taylor, thank you. next, a call to wash your hands. plus, climate change proving cows of future generations get to enjoy steak, as well. >> welcome back to "bloomber

chieferg's milan bureau on sergio marchionne. bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." vonnie: we are getting oil inventories and just a moment. as we know, oil has been rising. at crude right now is $76.17, down $0.13. we got a build of 5.4 8 million barrels, a massive build. the market was looking it hundred thousand barrels of a bid and got 4.5 8 million. distillate saw a drawdown. --oline into stories gasoline inventories drawdown 2.1 3 million barrels. let's take a quick look of what that is doing to oil. time now for muni moment. with a rally and credit, all eyes are now on lower rated credit, particularly illinois. the market has seem to turn or positive on the state, with aaalds trading above munis. as you heard, the market appears to be a little more positive on illinois. you have a great report highlighting some of the concerns, particularly with some structural issues within the budget. what is the biggest concern when it comes to illin

you are looking forward to this new management that was sort of last by marchionne. -- blessed by marchionnewhat was his biggest regret? regret is quite clear and he called me several times. it is the failed combination with general motors. he tried three times with letters to the board from 2014 until 2015. what i say in the book is that in 2015, he was considering going hostile with a $6 billion cash offer for gm. pocket a has in his letter from some banks who were telling sergio they were ready to support him. he never took this project to the board, because he understood the conditions were not there. it is the first ceo of gm, and they felt that she should get her chance. marchionne understood he could not do it, it was his biggest regret. he wanted to create the biggest carmaker in the world. anna: fascinating that he had six cell phones, but it was all about a letter in his back pocket. i was going to say that i am excited to get this book when it comes out in english. i've noticed the italian copy is already on amazon. -- inreau chief in a land milan has been working on this book and

coming up, the crisis fiat faces now that it has lost its indispensable leader in the late sergio marchionnee cover, how generations z is changing online retail. this

what marchionne used to say, he was trying to make the difference every single day.onal. you go through lots of meetings you had with him. was there a particular moment you remember fondly when you saw how he was extremely hands-on? opportunityad the to make his last ever sit-down interview at his home in michigan the night before his last detroit car show. for that story that we ran for bloomberg overnight, he somehow gave me his confessions on the future of the auto industry. that night, when we spoke essentially all night long, marchionne told me that for him, it was time to leave fiat leaveer but he wanted to the carmaker in the right place to be able to survive the tech destruction that was going to come. somehow this is happening. tom: thank you so much, and congratulations on such an important book. much more coming up. we are thrilled to bring you -- whatever your political affiliation, joe stiglitz will join us, a new book, a required read for liberals and conservatives. ♪ ♪ all as wellrning, as money flows into tangible and less tangible assets. the summer