Chrysler CEO: "We Are Still on Plan Relative to… the Targets We Established for 2008"
So, just tell us what those targets are Big Bob and we'll cut you some slack. After all, like you said, times is tough. Over a plate of chilled shrimp [uninformed speculation], Chrysler CEO Bob Nardelli told Automotive News [AN] that "U.S. light vehicle sales in 2008 are running at a seasonally adjusted annual rate of about 15.5 million to 15.6 million, which was in line with the company's expectations." Uh, OK, yes, declining market. Got it. So… what about Chrysler sales, as in actual vs. planned? Crickets chirping. While Chrysler's private equity owner Cerberus doesn't have to tell no one nothing, we'd like to point out that ChryCo's sales are down 15.5 percent year-to-date. I wonder if that was part of Nardelli's plan, why AN didn't press the point and what the automaker's minions project for the rest of the year. You know; other than C11. Oh, Nardelli also said that whole Alfa – Chrysler hook-up thing is a crock of shit [paraphrasing Bob Lutz].
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Pro Forma = projected. You create a projected balance sheet, and a projected P&L. Then you measure actuals against your projected. It's not that hard fellas.
Thanks Alex, I'll send that right nut to you.
The only thing that these guys are on target for is BK or a sales to Renault or someone else. Since they are privately owned, we will never know if he is telling the truth. All I know for sure is that no one wants their bonds, so that should give Bob a good feeling. Put a fork in these guys. Junk cars and a company run by pimpled faced kids that Nardelli and Campi hired to threaten the suppliers. Guess what, their share is so small they don't have leverage.