marchionne http://michiganradio.org en Chrysler makes $212 million profit http://michiganradio.org/post/chrysler-makes-212-million-profit <p>Chrysler made a profit in the third quarter of this year.</p><p>The news comes a day after Chrysler workers narrowly approved a new four-year contract.</p><p>The $212 million profit is small compared to Detroit rival Ford, which made $1.6 billion in the same period.</p><p>But it&rsquo;s the second quarterly profit this year for Chrysler, and a sign that its recovery from the 2009 bankruptcy is gathering some steam.</p><p>In fact, Chrysler would have made a profit last quarter too, were it not for one-time costs associated with paying off its federal loans.</p><p>Chrysler CEO Sergio Marchionne said the just-ratified contract with the UAW will support the company in its growth plans.</p><p>The contract includes a much smaller signing bonus than the one Ford union members will get.</p><p>That was likely one of the main reasons the contract was so narrowly approved.</p> Thu, 27 Oct 2011 22:09:18 +0000 Tracy Samilton 4728 at http://michiganradio.org Chrysler makes $212 million profit Marchionne says he expects a Chrysler IPO later this year http://michiganradio.org/post/marchionne-says-he-expects-chrysler-ipo-later-year <p>Michigan Radio's Steve Carmody just attended a press conference with Fiat and Chrysler CEO Sergio Marchionne.</p><p>Marchionne told reporters that his goal is to pay back the government loans by the end of this year.</p><p>Chrysler owes around $7.5 billion to the U.S. government.</p><p>He said he was heartened by the response to GM's IPO last year and the investor interest in the auto industry makes a Chrysler IPO more likely.</p> Mon, 10 Jan 2011 17:28:08 +0000 Mark Brush 818 at http://michiganradio.org Marchionne says he expects a Chrysler IPO later this year