I don't know if I could link the article (due to another web site), but Autoweek had an article today that Chrysler posted a 1.1 billion $ profit for the first half of 2008. Looks like the reports of their demise was premature. I think Cerberus might know what they're doing. GO CHRYSLER. Walter P would be proud.

 

Huh...I havent heard anything about this.

If this is true then its amazing news...assuming they don't post a $3 billion loss in the next quarter either.

 

Ya gotta read the fine print on this story.....Chrysler sales were down almost 30% over the same month last year, they have almost a third of a billion dollars less cash on hand, and this "profit" is before the deduction of interest, taxes and amortization expenses. Many people think they are trying to make themselves look strong to make themselves more attractive for sale to another company or a partnership........

Dusty

 

You can post the autoweek article.

 

Here is the Detroit paper version http://www.detnews.com/apps/pbcs.dll...10433/1001/BIZ. The article in Autoweek was a blog from one of their staff writers and I had a link in my email and now can't find it. The upshot is this, Chrysler has about $400 million in outstanding debts, but Autoweek said that was only a "paper" debt that was a write-off for finalizing the deal with !@#$* Benz. Dusty, you're giving old news. Chrysler has $11.7 billion in cash and while sales are down, margins off those sales are way up due to last years downsizing. This is ALL good news. Are they back to full strength-no. But are the vultures circling? Read the story.