Chrysler posts first profit in 5 years

Discussion in 'Stock Market' started by Chris, May 2, 2011.

  1. Chris
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    Chris Gold Member

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    NEW YORK (CNNMoney) -- Chrysler Group on Monday reported its first quarterly profit since 2006, marking an important milestone in the turnaround in the U.S. auto industry.

    The company, which went through a federal bailout and bankruptcy in 2009, earned $116 million in the first quarter, compared to a net loss of $197 million a year ago.

    The last time Chrysler reported a profit was in the second quarter of 2006, when it was a unit of DaimlerChrysler.

    Revenue soared 35% to $13.1 billion, as both sales volume and pricing improved. The company sold 18% more vehicles worldwide.

    Chrysler Group: First profit in five year - May. 2, 2011
     
  2. expat_panama
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    expat_panama Silver Member

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    It was so bad when oil producing companies made profits taking hard earned money from working people, that we ended up with a presidential vengeance commission. Let's hope nobody finds out about Chrysler profiting from the manufacturing of oil consumers.
     
  3. Chris
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    Chris Gold Member

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    People are giving their money to the oil companies by driving gas guzzling SUVs.

    There is very little need for most people to drive huge cars.
     
  4. KissMy
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    KissMy Free Breast Exam

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    It is easy to sell cars when Japan's auto manufacturing is shutdown. Also the weak US dollars are making the domestics cheaper than foreign.
     
  5. expat_panama
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    expat_panama Silver Member

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    We seem to have a disconnect as I'd have thought that needs are obviously being met if that's how some people choose to spend their money.

    Please bear with me here, I believe people should use the wealth they themselves have created as they see fit. Likewise the state should only own and allocate wealth that's owned by the entire commonly such as the air, large bodies of water, materials for community functions, etc.

    Another popular approach is having the state own and allocate all resources and have the state decide what everyone's needs are. This leads to statements like "little need for most people to drive huge cars" or "from each his abilities and to each his needs".
     

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