GasBuddy News Article

votes

Chrysler: From bankruptcy to profit in 2 years

CNN Money -- Chrysler Group reported its first annual profit since 2005 Wednesday, capping a comeback a little more than two years after a federal bailout, a bankruptcy filing and a takeover by Italian automaker Fiat.

The automaker, which includes the Chrysler, Dodge and Jeep brands, earned $183 million in 2011, compared with a loss of $652 million in the prior year.

And the company said that even better times are ahead, as it forecast it will make about $1.5 billion this year, with an 18% jump in revenue.

Chrysler took a charge of $551 million during the year related to refinancing in order to pay off the higher-interest loans it received from the U.S. and Canadian governments during the 2009 bailout. Despite the loan repayment, taxpayers lost about $1.3 billion of the $12.5 billion in bailout fund

Read the Full Article

Submitted Feb 01, 2012 By: BurntOrange

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Chrysler: From bankruptcy to profit in 2 years	Post a Reply Back to Topics

REPLIES (newest first)

First

Next Last

1006 Champion Author Birmingham Posts:1,017 Points:1,106,305 Joined:Apr 2008	Message Posted: Feb 4, 2012 7:47:59 AM Ignore 1006 Report Abuse are you kidding me [Edited by: 1006 at 2/4/2012 7:48:33 AM EST]
baconnie Champion Author Dallas Posts:2,681 Points:536,640 Joined:Jun 2008	Message Posted: Feb 3, 2012 1:10:45 AM Ignore baconnie Report Abuse what the
numbers Champion Author North Dakota Posts:2,707 Points:783,125 Joined:Aug 2004	Message Posted: Feb 2, 2012 8:30:39 AM Ignore numbers Report Abuse Let's buy imported from Detroit
mrpc90 Champion Author Illinois Posts:6,308 Points:1,569,665 Joined:Dec 2004	Message Posted: Feb 2, 2012 7:49:55 AM Ignore mrpc90 Report Abuse >hope they will create more jobs in the U.S. With the way that the "gimme, gimme, gimme" UAW operates, I'm not sure why they would.
Ahking Champion Author Orange County Posts:2,006 Points:329,095 Joined:May 2011	Message Posted: Feb 2, 2012 12:20:32 AM Ignore Ahking Report Abuse hope they will create more jobs in the U.S.
SUSANCK Champion Author Chicago Posts:1,877 Points:369,825 Joined:Apr 2011	Message Posted: Feb 2, 2012 12:01:49 AM Ignore SUSANCK Report Abuse Didn't the government bail them out?
bonzoonfmb All-Star Author Florida Posts:539 Points:356,825 Joined:Feb 2010	Message Posted: Feb 1, 2012 11:57:40 PM Ignore bonzoonfmb Report Abuse Good luck Fiat. Known more for their strikes than their ability to run a company.
RonTheRunner77 Veteran Author Michigan Posts:343 Points:119,115 Joined:Dec 2011	Message Posted: Feb 1, 2012 11:56:51 PM Ignore RonTheRunner77 Report Abuse impressive what the right ownership can do, of course bankruptcy wiping out all your debit doesnt hurt either...
LCSTEELERBOB Champion Author Gary Posts:2,249 Points:551,725 Joined:Oct 2008	Message Posted: Feb 1, 2012 11:54:44 PM Ignore LCSTEELERBOB Report Abuse good news for them and maybe even the world.
bif65 All-Star Author Virginia Posts:779 Points:137,025 Joined:Jan 2011	Message Posted: Feb 1, 2012 11:54:29 PM Ignore bif65 Report Abuse ok
Bezalel Champion Author Oklahoma City Posts:10,261 Points:1,931,155 Joined:Oct 2006	Message Posted: Feb 1, 2012 11:54:01 PM Ignore Bezalel Report Abuse reneged on a lot of interest.
cupboy Champion Author Salt Lake City Posts:1,580 Points:780,530 Joined:Nov 2005	Message Posted: Feb 1, 2012 11:53:51 PM Ignore cupboy Report Abuse About time for a strike then.
pse91 All-Star Author Calgary Posts:617 Points:282,240 Joined:May 2011	Message Posted: Feb 1, 2012 11:53:32 PM Ignore pse91 Report Abuse If they can rid themselves of the Union's who have a strangle hold on the throat of GM. Prices will come down and profits will go up and then they can pay for the bail out.
mstearno Champion Author Dayton Posts:6,361 Points:1,387,515 Joined:Jan 2008	Message Posted: Feb 1, 2012 11:51:07 PM Ignore mstearno Report Abuse sure they will and GM rules the world
cimilluca1 Sophomore Author New York Posts:193 Points:158,175 Joined:Aug 2011	Message Posted: Feb 1, 2012 11:50:13 PM Ignore cimilluca1 Report Abuse Never repay.......Always Pay!!
suzmar Champion Author Texas Posts:1,025 Points:545,170 Joined:Jun 2006	Message Posted: Feb 1, 2012 11:35:35 PM Ignore suzmar Report Abuse Okay, so when is the taxpayer going to be repaid?
danreino Champion Author Twin Cities Posts:6,797 Points:1,241,315 Joined:Mar 2008	Message Posted: Feb 1, 2012 11:35:30 PM Ignore danreino Report Abuse 2 days ago I read here that their in big trouble again. It'ould be nice if you could get your story straight man.
GigHarborHound All-Star Author Tacoma Posts:936 Points:166,355 Joined:Sep 2011	Message Posted: Feb 1, 2012 11:33:36 PM Ignore GigHarborHound Report Abuse And the repayment is due when?
CorvairHaven Champion Author Cleveland Posts:2,610 Points:1,096,095 Joined:Sep 2008	Message Posted: Feb 1, 2012 11:29:19 PM Ignore CorvairHaven Report Abuse Glad for them... hope the quality improves.
tippybuddy Champion Author Ontario Posts:1,349 Points:181,560 Joined:Feb 2011	Message Posted: Feb 1, 2012 11:26:11 PM Ignore tippybuddy Report Abuse I agree with Spanky MI....
nwsynthetics All-Star Author Oregon Posts:527 Points:140,220 Joined:Dec 2011	Message Posted: Feb 1, 2012 11:25:21 PM Ignore nwsynthetics Report Abuse Just like Obama said about Govt Motors. They are turning around and paying back the debt...................oh my
sillywagon Champion Author New York Posts:11,725 Points:1,080,370 Joined:Oct 2008	Message Posted: Feb 1, 2012 11:23:17 PM Ignore sillywagon Report Abuse Good news... for the taxpayers? Of course not. It's good news for the UAW.
SpankyMI Champion Author Kalamazoo Posts:1,088 Points:423,410 Joined:Jan 2011	Message Posted: Feb 1, 2012 11:22:21 PM Ignore SpankyMI Report Abuse There should be no profit until the bailout is paid off, whats wrong with this picture?
abcdMA Champion Author Worcester Posts:6,139 Points:1,217,230 Joined:Nov 2008	Message Posted: Feb 1, 2012 11:18:17 PM Ignore abcdMA Report Abuse bailed out by the taxpayers
silverfoxv65 Champion Author Michigan Posts:2,631 Points:868,920 Joined:Sep 2009	Message Posted: Feb 1, 2012 11:17:31 PM Ignore silverfoxv65 Report Abuse Talk about poor management.
RedRam2005 Champion Author San Antonio Posts:6,163 Points:1,159,185 Joined:Dec 2007	Message Posted: Feb 1, 2012 11:16:26 PM Ignore RedRam2005 Report Abuse If I go bankrupt, will the taxpayers bail me out? No likely.
FlogNut Champion Author Chicago Posts:90,600 Points:1,647,050 Joined:Oct 2007	Message Posted: Feb 1, 2012 11:14:51 PM Ignore FlogNut Report Abuse President Obama didn't bail out Chrysler. He bailed out the UAW.
19sheldon43 Champion Author Los Angeles Posts:2,848 Points:621,595 Joined:Jul 2009	Message Posted: Feb 1, 2012 11:13:31 PM Ignore 19sheldon43 Report Abuse I bet they feel they don't owe the taxpayer anything now that Chrysler Group is making a profit
MJIOWA Champion Author Iowa Posts:3,134 Points:743,370 Joined:Nov 2009	Message Posted: Feb 1, 2012 11:11:17 PM Ignore MJIOWA Report Abuse and want don't we really no?
Lukus Champion Author Halifax Posts:6,534 Points:1,320,390 Joined:Nov 2007	Message Posted: Feb 1, 2012 11:09:04 PM Ignore Lukus Report Abuse And yet they want us to believe we are getting a deal on their cars. Just look at the profits.
warlord1 Champion Author Georgia Posts:3,623 Points:706,645 Joined:May 2010	Message Posted: Feb 1, 2012 11:08:15 PM Ignore warlord1 Report Abuse sounds good
monieet All-Star Author California Posts:506 Points:236,410 Joined:Mar 2011	Message Posted: Feb 1, 2012 11:07:36 PM Ignore monieet Report Abuse Ik
skyking19 Champion Author Little Rock Posts:1,574 Points:1,421,595 Joined:Jan 2007	Message Posted: Feb 1, 2012 11:04:53 PM Ignore skyking19 Report Abuse Not impressed, let's see where they are a few years form now.
judgemobile Champion Author Ohio Posts:5,762 Points:2,085,330 Joined:Nov 2005	Message Posted: Feb 1, 2012 11:03:27 PM Ignore judgemobile Report Abuse If I knew a BAILOUT was waiting for me, I could push the envelope to the brink without worrying.
John747 Champion Author Chicago Posts:439,095 Points:3,262,860 Joined:Aug 2001	Message Posted: Feb 1, 2012 11:03:04 PM Ignore John747 Report Abuse They made their profit by selling SUV's. Not by selling "green vehicles" like President Obama wanted. Had they followed Obama's advice and listened to the "green mantra" they would have lost money.
onegiraffeAL All-Star Author Alabama Posts:978 Points:317,335 Joined:Jan 2010	Message Posted: Feb 1, 2012 11:02:53 PM Ignore onegiraffeAL Report Abuse ok
DustyHorse Champion Author Virginia Posts:4,490 Points:1,073,295 Joined:Oct 2008	Message Posted: Feb 1, 2012 11:02:49 PM Ignore DustyHorse Report Abuse I don't think Chrysler will make it in the long run.
garman87 Champion Author Austin Posts:2,583 Points:2,038,320 Joined:Aug 2005	Message Posted: Feb 1, 2012 11:02:25 PM Ignore garman87 Report Abuse Their cars look a lot better.
OGW Champion Author London Posts:3,747 Points:1,201,985 Joined:Sep 2005	Message Posted: Feb 1, 2012 11:01:09 PM Ignore OGW Report Abuse Both GM and Chrysler will be back in debt again as they are incapable of running a corporation without government funding.
Mowerman08 Champion Author Milwaukee Posts:2,988 Points:876,120 Joined:Aug 2008	Message Posted: Feb 1, 2012 10:58:05 PM Ignore Mowerman08 Report Abuse Good for Chrysler.
blah2blah3 All-Star Author Houston Posts:810 Points:243,130 Joined:May 2011	Message Posted: Feb 1, 2012 10:55:34 PM Ignore blah2blah3 Report Abuse good for them
Blue48 Champion Author Illinois Posts:5,489 Points:1,277,050 Joined:Feb 2007	Message Posted: Feb 1, 2012 10:55:06 PM Ignore Blue48 Report Abuse GOOD NEWS FOR THEM!
sammynorge Champion Author Columbus Posts:1,301 Points:329,755 Joined:Jan 2006	Message Posted: Feb 1, 2012 10:54:07 PM Ignore sammynorge Report Abuse As long as they are making everything here in the US, I'm all for it. But I suspect there's a lot of foreign parts coming in. Bring our manufacturing jobs back! Good union jobs that produce a quality American product!
sit Champion Author Cleveland Posts:3,415 Points:1,574,140 Joined:Feb 2006	Message Posted: Feb 1, 2012 10:53:17 PM Ignore sit Report Abuse hmmm.
SparkieMi Champion Author Kalamazoo Posts:1,459 Points:237,455 Joined:Sep 2011	Message Posted: Feb 1, 2012 10:50:08 PM Ignore SparkieMi Report Abuse I must have missed something here... tax payers loaned Chrysler $12.5 billion and repaid it, BUT, the tax payers lost $1.3 billion???? How???
carman11 Champion Author North Carolina Posts:1,460 Points:328,720 Joined:Jun 2011	Message Posted: Feb 1, 2012 10:49:59 PM Ignore carman11 Report Abuse Way to go Chrysler.
tes283 Veteran Author Tampa Posts:359 Points:93,880 Joined:Dec 2011	Message Posted: Feb 1, 2012 10:47:40 PM Ignore tes283 Report Abuse so can we get our money back out??? All of it with interest? [Edited by: tes283 at 2/1/2012 10:48:33 PM EST]
Tonester1 Champion Author New Jersey Posts:10,927 Points:1,964,685 Joined:Oct 2006	Message Posted: Feb 1, 2012 10:44:00 PM Ignore Tonester1 Report Abuse Good for them.
kzza100 Champion Author New Jersey Posts:1,187 Points:236,120 Joined:Sep 2011	Message Posted: Feb 1, 2012 10:41:29 PM Ignore kzza100 Report Abuse aok
WIPACKERFAN Champion Author Chicago Posts:7,010 Points:1,488,685 Joined:Aug 2005	Message Posted: Feb 1, 2012 10:37:45 PM Ignore WIPACKERFAN Report Abuse Great news. Go Chrysler!