Tuesday, May 05, 2009 - Posts
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Tuesday, May 5, 2009
Chrysler says it will show a profit in 2012. Hey, that's just about when kausfiles is planning to go public! ... P.S.: Here's the part of the WSJ's account that baffles:
The proceedings also revealed the extent of Chrysler's financial troubles. The company lost $16.8 billion in 2008 and expects to lose $4.7 billion this year, according to documents submitted to the court. {E.A.]
How will they lose two-thirds less money this year than last, when this year's sales are so far down 46% from last year (and down even more for April)? I must be missing something, because even if Chrysler were intent on fudging the books, this fudge seems so huge they couldn't possibly think anybody would fall for it. ...Then again, some people may have fallen for this:
A Chrysler spokeswoman said the loss for 2008 is an updated figure. In a previous turnaround plan submitted to the Treasury, Chrysler and its majority owner, Cerberus Capital Management LP, estimated the auto maker's 2008 net loss was $8 billiion.
[Sales stats via TTAC] 1:58 A.M.
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Flexibility Resilience: On HuffPo, Lee Stranahan gives Elizabeth Edwards a blog post she deserves. ... P.S.: Stranahan writes, of Edwards' mistress:
Rielle Hunter is reportedly broke, living with a friend and seems to be biding her time. She could have written her own book ....
Yes, she could! ... 1:57 A.M.
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