Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
DaimlerChrysler said its U.S. Chrysler division is “not-for-sale,” after the company released a poor third-quarter earnings report results which indicated a 51 percent drop in operating profit. Analysts went on to speculate that Chrysler could by up for sale.
The speculation got a boost after DaimlerChrysler announced a $1.5 billion operating loss in its Chrysler division which played a large role in dragging down the automaker's third-quarter profit by 37 percent. A statement was later released by DaimlerChrysler confirming that the Chrysler Group is “not-for-sale”.
Overall sales fell 8 percent to $44.6 billion (€35.2 billion), after the group experienced a 26 percent decline at Chrysler to $12 billion (€9.5 billion).
“We have taken dramatic steps to reduce production and shipments to address the inventory situation in the U.S. and we continue to work to find new ways to eliminate waste, lower our costs and improve quality,” Chrysler CEO Tom LaSorda said in a statement.
Next weeks G8 may shine the spotlight on the USD as the global standard
The main financial headlines for the day:
Cisco live 2009 website is down and nobody can access the site for the latest in...
|
Come and experience the trading platform that everyone talks about. Simple, fast and exciting.
Effective and Affordable Press Release Distribution Service
Can predict currency pairs movements? Binary option trading is what you need. Click here.
Partners  
|
© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
