Chrysler will not be sold and heads won't roll over profit warning
When Chrysler revised its profit forecast for the third quarter to an estimated loss of $1.5 billion, we knew there would be speculation as to what ramifications might occur. Analysts, however, began reaching for the stars suggesting that Chrysler management could be shaken up or that the brand itself could be sold.
While analysts aren't optimistic that Chrysler can pull out a profit in Q4, going so far as to say a For Sale sign might be staked in the yard outside the company's HQ in Auburn Hills, Michigan is a skip, hop and a jump away from bonkers. Though Chrysler isn't technically a member of the Big 3 anymore, it's still subject to similar challenges as General Motors and Ford that include big legacy costs, a stubborn UAW and general malaise in the market for domestic vehicles. And from what we know of the man, Chrysler CEO Tom LaSorda seems like a capable guy who, like Rick Wagoner and Bill Ford, is battling incredible odds to make a buck. Regardless, DaimlerChrysler's main man Dieter Zetsche has reportedly told a German newspaper that there will be no management shakeup and that Chrysler is not for sale. And what Dr. Z says goes.
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