Chrysler Aiming for a Two Year Turnaround
As a privately-held company, Chryslerberus doesn't have to reveal its financial information to the general public. However, executive VP of North American sales, Steven Landry, gave us a peek behind the curtain during a talk to students at his alma mater, St. Mary's University in Halifax, Nova Scotia. The Detroit Free Press reports that as he discussed Chrysler's efforts to return to profitability, he revealed they'll fall about $1b short of what they're spending. Their overall plan? "Lose a little money this year, break even next and rake it in during 2009 and 2010," according to a report in the Halifax Daily News."You have to come to the realization that in some instances, you've got to stop spending," Landry opined. "You've got to right-size what you do to the revenue that comes into the company." Of course, Chrysler's spinmeisters were all over his comments, qualifying them by saying Landry was talking in generalities to students. I wonder what Chrysler CEO Boot'em Bob Nardelli had to say to his talkative Veep upon his return to Auburn Hills.