During a presentation to analysts and journalists last Wednesday, DaimlerChrysler CFO Bodo Uebber refused to rule out the sale or spinoff of its unprofitable Chrysler group, Automotive News and the New York Times reported. “We don't exclude anything here,” including structural changes,” Uebber said during his third-quarter earnings teleconference. “We will do our analysis. Second, we will talk about measures. And third, we will draw our conclusions,” Automotive News reported. Chrysler group losses dragged down DaimlerChrysler's third-quarter financial results. The Chrysler group lost $1.47 billion, down from a $393 million profit for the same period a year ago, according to AN. The company predicts Chrysler will lose $1.2 billion in 2006. DaimlerChrysler posted quarterly net income of $680 million and projects a companywide operating-profit target of $6.29 billion for the full year, AN said. DaimlerChrysler has assigned a team of senior executives to study seven major facets of the Chrysler group's business. The teams have been asked to improve margins by $1,000 per vehicle. Officials declined to give a timetable for the internal study, AN reported. L&MT
Daimler bought chrysler when they were profitable, sucked out money and killed some good products, and now they are complaining about the chrysler end of it losing money? bastards
