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As most of us focus on GM paying off its remaining loans to the U.S. And Canadian government, few are paying attention to Detroit's other troubled automaker.
AP
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Today, Chrysler released its first quarter financial results, and they are encouraging. Any other time, this improvement would attract more attention. But Chrysler's decidedly understated approach is making this a stealth turnaround few are recognizing.

Take the news today that the Chrysler group posted an operating profit in the first quarter. This news came with little fanfare and as part of Fiat's financial review for the entire company.

It wasn't buried, but it certainly wasn't played up. CEO Sergio Marchionne has done just a few interviews since taking over Chrysler, and today was no different. That's one reason many are unaware of the groundwork Machionne's team is laying for turning around the company.

In many ways, you have to admire Marchionne's approach. In a nut shell it goes like this: build better vehicles, control your costs, and let the results speak for themselves. I call it a case of walking the walk and not worrying about talking the talk.




Chrysler still has a long ways to go before it gets to the point where GM is right now, with its government loans repaid, profitability in sight, and a fresh line-up of cars and trucks to attract buyers.

The fact Chrysler turned an operating profit with an old line-up is testament to the fact some of the changes at the company are starting to work. Will Chrysler have the new models to actually grow sales over the next 4 years? On paper they look promising, but you never know until they hit the showroom.

Don't be surprised if Chrysler continues to slowly deliver on the benchmarks Marchionne's team has set. if that happens, just don't expect the Chrysler CEO to get carried away trumpeting the performance. You know how he works. Walk quietly and let the results speak for themselves.
 

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There is no way that GM or Chrysler can possibly succeed. After all, Obama basically saved their asses by bailing them out and all the "experts" on the YB will tell you that he can't do anything right. Meanwhile, GM just paid back over $8-billion and Chrysler is turning around under the watchful eye of Fiat (also engineered by Obama). All of this happend on Obama's watch and we all know that he should have let them both go under...

The bailouts worked.
 

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workin it
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they would have turned around under bankruptcy as well, probably been even stronger/leaner and stock holders wouldn't have gotten screwed. Pontiac might still be around, thus more jobs...dealerships wouldn't have been closed because they backed republicans...c'mon George...:confused: the bailouts worked for who???
 

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they would have turned around under bankruptcy as well, probably been even stronger/leaner and stock holders wouldn't have gotten screwed. Pontiac might still be around, thus more jobs...dealerships wouldn't have been closed because they backed republicans...c'mon George...:confused: the bailouts worked for who???
Turned around on their own? Do you mean like Lehman Bros. did?

The stock holders didn't get screwed anymore than the guy that lost money at a crap game in Las Vegas got screwed. Buying stock is "betting", and you don't always win.
 

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they would have turned around under bankruptcy as well, probably been even stronger/leaner and stock holders wouldn't have gotten screwed. Pontiac might still be around, thus more jobs...dealerships wouldn't have been closed because they backed republicans...c'mon George...:confused: the bailouts worked for who???
Yeah, sure. Because everybody knows that 'Strip & Flip' companies like Cerberus Capaital Management (Chrysler's former owner) have a L-O-N-G history of doing anything the can to salvage their holdings as those holdings slide into bankruptcy...

Dude, please! Wake up and smell the carbon dioxide!

If Obama hadn't orchestrated the Fiat merger and bail out, Cerberus would have 'cut & run' and liquidated Chrylser immediately - if not sooner!
 

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There is no way that GM or Chrysler can possibly succeed. After all, Obama basically saved their asses by bailing them out and all the "experts" on the YB will tell you that he can't do anything right. Meanwhile, GM just paid back over $8-billion and Chrysler is turning around under the watchful eye of Fiat (also engineered by Obama). All of this happend on Obama's watch and we all know that he should have let them both go under...

The bailouts worked.
Why are the banks still taking money?:smt102
 

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There is no way that GM or Chrysler can possibly succeed. After all, Obama basically saved their asses by bailing them out and all the "experts" on the YB will tell you that he can't do anything right. Meanwhile, GM just paid back over $8-billion and Chrysler is turning around under the watchful eye of Fiat (also engineered by Obama). All of this happend on Obama's watch and we all know that he should have let them both go under...

The bailouts worked.
You are retarded. Get the UAW's testicles out of your mouth and ask yourself at what expense did these supposed "turnarounds" you speak of come from?????
I'll tell you... our fucking pockets is where. You think Fiat would have bought out Chrysler otherwise? In a perfect world companies that dont make wise business decisions fail, and those that do prosper... Except for in the United states, where Union Lobbies can force the rest of us to pay for said mistakes.

Yay.
 

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There is no way that GM or Chrysler can possibly succeed. After all, Obama basically saved their asses by bailing them out and all the "experts" on the YB will tell you that he can't do anything right. Meanwhile, GM just paid back over $8-billion and Chrysler is turning around under the watchful eye of Fiat (also engineered by Obama). All of this happend on Obama's watch and we all know that he should have let them both go under...

The bailouts worked.
$8 billion is a start but Obama still owns $53 billion worth of GM stock which was NOT a loan.
 

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In order to restructure under Chapter 11 by yourself you need some form of debtor in possession financing. At the time, there wasn't a penny to be lent out in the private sector.

Without emergency coin from the Government Chrysler and GM would have went straight to Chapter 7 liquidation. The only ones with any money to buy their assets would have been the Chinese or Private equity houses that would have parted them out. Judging by how the Chinese fumbled the purchase of Hummer, it wouldn't have been pretty and there would have only been small parts of each company left over by now.

Chevy, Cadillac and Buick would have been separated between continents and the only thing left from Chrysler would have been Jeep and some form of Chrysler Canada which would be trying to sell Chinese shit boxes or some other re badged junk.

What they did was in their and the employee's best interest.

Ford didnt take cash because they had just re mortgaged all their plants and are still some 35 billion in debt because of it. I dont know about GM, but Chrysler owns all of their plants outright and could have done the same...had there been any money in the private sectore to lend them!
 
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