Chrysler profits surge 80%

Romney continues to run his ad that Chrysler has declared a lie. I guess Willard figures he has nothing to lose.
 
awesome it was 80s% over basically nothing...so it made money?

Now when will Chris bitch they are making too much and want price controls added ASAP?
 
Thanks, President Obama....

NEW YORK (CNNMoney) -- The comeback continues at Chrysler.

The automaker reported third-quarter profits Monday that rose 80% versus a year ago, buoyed by strong sales in U.S.

Chrysler profits surge 80% - Oct. 29, 2012

You going to thank Obama when their Italian CEO Sergio Marchionne starts to take his annual pay again...to the tune of $50 to $100 million per year? He's been working for no salary or bonuses for 3 years now.
 
The auto bailout and the stimulus worked.

If you are looking to buy union votes...it was a stunning success.

Otherwise.....it was huge failure.

Or does the projected UE rate of 7.9% not tell you something ?

Moron.
 
And they might have done even better than that had they gone through a normal, structured bankruptcy...without fucking the bondholders in the ass...or the taxpayers.
 
We have just had the fastest drop in unemployment since 1984....from 10.2% to 7.8%%. All this in spite of the fact that House Republicans have blocked infrastructure spending bills that would have helped. Why? Because Republicans are more concerned with winning the election than helping America.
 
It's not hard to surge 80% when you are starting at a serious low.

I am not sure a 357 Million dollar Profit is something to get all excited about when you are on the Hook for Billions to the Government, and even more in Future Obligations.
 
The auto bailout and the stimulus worked.
When is the treasury getting the $40 billion back from GM, Monica?

Here ya go................from Forbes magazine..................

It’s been three years since General Motors and Chrysler filed for bankruptcy, but with the political season in full swing, the two presidential candidates have put the auto industry bailouts back in the public eye, at least through the November election. Yet there’s only one Detroit automaker still in hock to U.S. taxpayers and – guess what? – it’s not GM or Chrysler.

Ford Motor owes the government $5.9 billion it borrowed in June 2009, the same month GM filed for bankruptcy. By Sept. 15, Ford needs to start paying that money back. In a government filing, the carmaker said $577 million is due within the next year, and the full amount must be paid off by June 15, 2022.

Automakers' Report Card: Who Still Owes Taxpayers Money? The Answer Might Surprise You - Forbes

GM is paid back, Ford is the only one that still owes money.
 
ABS-Did you go to the second page?

GM: repaid $23.1 billion of the $49.5 billion it got from the U.S. Treasury, including all of its outstanding loans. But Treasury still owns 500 million shares, or 32%, of GM stock. To recoup its full investment, GM stock needs to hit $52.80 per share. It’s currently trading around $21. GM also received a $106 million matching grant to build a battery factory in Brownstown, MI, where it is assembling battery packs for the Chevrolet Volt plug-in car using cells imported from Korea.

Chrysler: repaid $9.2 billion, fulfilling its debt obligations to the U.S. and Canadian governments, and is now owned by Italian automaker Fiat (58.5%) and a health care trust for UAW retirees (41.5%). Overall, taxpayers lost $1.3 billion on the Chrysler bailout. In full recovery mode, Chrysler is currently the fastest-growing carmaker in the world.

Ford: used its $5.9 billion loan to convert two truck plants to small-car production and to develop more fuel-efficient vehicles like the Ford Focus EV and C-Max Energi plug-in hybrid, on sale this fall. Loan repayments start in September. Ford says it will spend $14 billion over the next seven years on advanced-technology vehicles.
********************
Looks like Chrysler is the only one paid in full.
 
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I'll be glad to see our tax money repayed.

I'm sure those who had money, 401K's, retirement and other things invested in GM gotta be really glad they got hosed to make GM the success it is.

Of course the UAW is a real winner. Hell. We taxpayers got to bail out their mismanaged legacy pension funds.

I can't tell you how happy I am to be of service to the UAW.

A simple bankrupcy wouldn't have done that I'm sure. Thanks load Barry.
 
Now they love BIG Corporation's I guess as a long as it's one the Dear Leader uses taxpayers monies to bail out..
 

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