Analysts have been wondering when Chrysler would go public, and new CEO Sergio Marchionne has an answer: not soon. Some have speculated that Chrysler shares would be available on the stock exchange by the end of 2010, but Automotive News is reporting that Marchionne is giving a timetable of "not sooner than 2½ years." Marchionne obviously wants to hold off on going public until he and Chrysler's board of directors feel the company will command the appropriate value.
With both evidence and speculation mounting that General Motors and Tier-1 supplier Visteon Corp. have bleak futures, both companies' stock shares continue to get hammered, with GM's shares trading as low as $1.40 Friday morning and Visteon dropping from 7 cents to 2 cents on Thursday. For GM, that's its lowest price since May 23, 1933, and the price for Visteon is so low that the New York Stock Exchange delisted it – its last day on the exchange was yesterday.