Cerberus: Chrysler seen profitable in 3 years

Chrysler, who is now owned 80.1 percent by private equity firm Cerberus, is expected to profit within the next three years, according to Cerberus chairman John Snow.

“I think you’ll see that Chrysler will be in much better shape within three years. This is a plan to get it back to profitability,” the former U.S. treasury secretary told the Financial Times in an interview.
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EnnNorak - 8/8/2007 1:14:41 PM

+1 Boost

PROMISES, PROMISES! I'll believe it when I see it. It normally takes about 3 years for a company to fold anyway, even a company that is down and out. I don't think that Chrysler is down and out yet and it may well be salvageable given some of the planned measures announced by the new owners. I'm waiting to see how Chrysler deals with union issues and which divisions, if any, it plans to sell off. I'm also waiting to see if cost cutting measures will have a negative impact on product quality. I am convinced that comfort, reliability, and durability are the key factors of success for any car manufacturer and these characteristics must not be sacrificed for the sake of a quick return on investment if long-term survival is the goal.