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Chrysler Predicts $14 Billion in Earnings by 2014.

CEO Marchionne insists he will eventually repay governments.

by on Nov.05, 2009

Just months after the automaker emerged from bankruptcy, Chrysler CEO Sergio Marchionne is predicting an operating profit in 2010.

Just months after the automaker emerged from bankruptcy, Chrysler CEO Sergio Marchionne is predicting an operating profit in 2010.

Less than five months after emerging from bankruptcy, Chrysler Group LLC has laid out an aggressive turnaround plan that will, if successful, more than double its North American sales, restore most of the market share it has lost in recent years, finally position it as a serious global player – and generate as much as $14 billion in profits over the next five years.

During an all-day session that explored the minutia of a far-reaching turnaround plan, Chrysler’s new CEO Sergio Marchionne promised no miracles but insisted that even using conservative estimates for the recovery of the U.S. market, Chrysler could be back in the black on an operating basis next year, and turn a net profit in 2011.

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In a message likely to be particularly well received by taxpayers worried about the $80 billion in money used to bailout Chrysler and General Motors, Marchionne said he expects to pay back the U.S. Treasury by the end of the 5-year bailout program.

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Chrysler’s New Masters to Unveil Turnaround Plan

Inside Chrysler's 5-Year Plan

by on Nov.04, 2009

Chrysler's new CEO, Sergio Marchionne, has promised to streamline the automaker. He's already streamlined the logo, this new one just approved by the U.S. patent office.

CEO Sergio Marchionne has promised to streamline the automaker starting with this new logo, just approved by the U.S. patent office.

Bankrupt in 2009, back in the black a year later?  That’s one of the predictions Sergio Marchionne is expected to make, today, as he lays out his plan to turn around the ailing Chrysler.

Since the smallest of Detroit’s once “Big Three”  emerged from Chapter 11, in June, little has been seen or heard about its plans for the future, other than a couple tentative trial balloons.

In part, insiders say that reflects the mess that Chrysler’s new masters at Fiat discovered when they began digging into the company’s current situation.

But the Canadian-educated Fiat CEO Marchionne, who’s now taken the helm at Chrysler, believes that he can begin a lightning turnaround by slicing-and-dicing the U.S. maker’s product line-up – which will mean returning an Italian brand, Alfa-Romeo, to the U.S,, along with select products from Fiat – and implementing Fiat processes to not only speed up product development but also to cut costs and improve quality.

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At least 300 people are expected to attend today’s briefing at the Chrysler Technology Center, in Auburn Hills, Michigan.  The sprawling facility, with its attached corporate headquarters tower, is both a monument to Chrysler’s past days of glory, as well as a testament to its recent near fatal problems.

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