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Things are looking up at Chrysler. The smallest of the American Big Three has announced that it managed to turn out a modified operating profit of $198 million for the fourth quarter of 2010. That number gave the Pentastar a modified operating profit of $763 million for the full year, even while fielding a net loss of $652 million in 2010. Modified operating profit excludes taxes, interest and pension costs.

From Monday's 'More Good News' edition, this nugget from Chrysler CEO Sergio Marchionne: "It is clear that if we continue to perform at this rate we're going to be in excess of the guidance that was provided in 2009." What does that mean? It means that Chrysler is making more money and using that money more efficiently than expected. If such performance keeps up, the Pentastar will put up better than expected numbers this year, and could be ripe for an IPO ahead of anyone's schedule.

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