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Old 10-10-2009, 08:25 AM   #1
AVANTI R5
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Default CEO: Chrysler profitable by 2011

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After a four-month deep dive into the workings of Chrysler Group LLC, Chief Executive Sergio Marchionne remains convinced the automaker can be profitable in two years.

The Auburn Hills automaker is on track to divulge its five-year plan on Nov. 4, to make public its quarterly financial statements next year and to offer public stock as early as 2011, he said.

A recent report by analyst Adam Jonas of Morgan Stanley supports Marchionne's forecast. Jonas said Chrysler could report an operating profit of $841 million in 2010, but end the year with a net loss of $169 million. Full profitability is expected in 2011: $2.48 billion in operating profit and $952 million in net income, Jonas said.

In an interview with Toronto's Globe and Mail, Marchionne affirmed Thursday that the automaker could reach profitability in 24 months. Just a week before, the CEO contended that "we're not bleeding as people think we are," noting that "the level of cost consciousness at this house is probably at a historical high."

Joe Phillippi of AutoTrends Consulting Inc. said Chrysler and General Motors Co. have dramatically lower break-even points because bankruptcy allowed them to shed liabilities and emerge with good balance sheets.

Chrysler will flesh out its state of affairs at the Nov. 4 briefing with presentations by Marchionne and his management team, ending a self-imposed period of silence since the new Chrysler was formed with Fiat June 10.

A new era of transparency will include public reporting of financial results in 2010. As a private company, Chrysler does not have to, and did not report earnings under previous owner Cerberus Capital Management LP.

Chrysler is hoping to offer public stock in the company as early as 2011, with stakeholders such as a United Auto Workers health care trust fund eager to divest their shares as soon as possible.

GM, which also emerged from bankruptcy this summer, has said it will resume releasing its financials in November. It hopes to offer public stock next year.
http://www.detnews.com/article/20091...itable+by+2011
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Old 10-10-2009, 11:10 AM   #2
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the only vehicle worth saving is their challenger. outside that who cares.
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Old 10-10-2009, 11:18 AM   #3
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the only vehicle worth saving is their Jeep. outside that who cares.
Fixed!
A ****ing Challenger????? Jubus. Thing is a hog.
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Old 10-10-2009, 11:28 AM   #4
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You have to sell cars to be profitable...and chrysler makes ****ty cars.
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Old 10-10-2009, 01:41 PM   #5
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Bring over Fiats and Alfas. Profit.

I just ordered a new car, but I would have cross shopped a 147 3 door or even Mito if it were here.
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Old 10-10-2009, 03:39 PM   #6
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i guess its good to be optomistic. one can dream. good luck chrysler.
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Old 10-10-2009, 05:14 PM   #7
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well, i should have said the wrangler as well, sry.

and the challenger even though its a huge whale of a car, its still (to me) an american heritage type vehicle... it has some history to it.
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Old 10-10-2009, 08:15 PM   #8
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Chrysler is hoping to offer public stock in the company as early as 2011, with stakeholders such as a United Auto Workers health care trust fund eager to divest their shares as soon as possible.
I'm sure UAW want's to sell out their shares ASAP... but it goes to show their faith in the company future
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Old 10-11-2009, 08:52 PM   #9
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Bring over Fiats and Alfas. Profit.

I just ordered a new car, but I would have cross shopped a 147 3 door or even Mito if it were here.
There's the route to success. After all, Fiat and Alfa have done so great in the US market. I guess not everyone is old enough to remember what they were like when you could buy them new in the States. Both Fiat's and Alfa's quality made Chrysler/ Dodge look like Toyota.
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Old 10-11-2009, 09:23 PM   #10
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Originally Posted by robertrinaustin View Post
There's the route to success. After all, Fiat and Alfa have done so great in the US market. I guess not everyone is old enough to remember what they were like when you could buy them new in the States. Both Fiat's and Alfa's quality made Chrysler/ Dodge look like Toyota.
It's no different than Ford using the Fiesta name on the car. Americans forget quickly.
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Old 10-11-2009, 09:52 PM   #11
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replace ALL Chrysler and Dodge dealerships with Fiat and Alfa dealers. I really would love not to see another Chrysler Sebring for the rest of my life.
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