Nov 4th, 2009 - Bloomberg
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Nov. 4 (Bloomberg) -- Chrysler Group LLC, the U.S.automaker run by Fiat SpA, said it will break even next year onan operating basis and begin to post a net profit in 2011 as itworks to pay off all of its government loans by 2014.
Chrysler has $5.7 billion in cash including $1.7 billionamassed since leaving bankruptcy June 10, Chief ExecutiveOfficer Sergio Marchionne said today. The company expects to endthe year with $5 billion in cash and access to a $2.3 billioncredit line.
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bofa's Moynihan Said to Agree to Testify About Merrill Takeover
Nov 5th, 2009 - Bloomberg
Nov. 5 (Bloomberg) -- Bank of America Corp.’s BrianMoynihan, listed among contenders to succeed Chief ExecutiveOfficer Kenneth D. Lewis, agreed to testify about his role inthe Merrill Lynch & Co...
CVS Plunges After Losing Pharmacy-Benefits Contracts
Nov 5th, 2009 - Bloomberg
Nov. 5 (Bloomberg) -- CVS Caremark Corp. posted its biggestdrop in eight years after saying its unit for managing pharmacybenefits lost $3.7 billion in contracts in the third quarter andforecasting narrower margins next year.
The division...Chrysler's CEO Says Recovery Under Way
Nov 5th, 2009 - Wall Street Journal
Chrysler Group LLC vowed to return to profitability by 2011 and pay back billions of dollars in U.S. bailout loans by 2014, an ambitious set of targets for a company that exited bankruptcy protection just months ago.
'Parsimonious' Chrysler Adds $1.7 Billion Since June
Nov 4th, 2009 - Bloomberg
Nov. 4 (Bloomberg) -- Chrysler Group LLC, the U.S.automaker run by Fiat SpA, has $5.7 billion in cash and added$1.7 billion since leaving bankruptcy June 10, Chief ExecutiveOfficer Sergio Marchionne said.
The third-largest U.S...Chrysler's Marchionne Said to Forecast Profit by End of 2011
Nov 3rd, 2009 - Bloomberg
Nov. 3 (Bloomberg) -- Chrysler Group LLC, the money-losingU.S. automaker run by Fiat SpA, expects to break even next yearand be profitable by the end of 2011, three people familiar withthe matter said.
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