Chrysler made money in the first quarter, a victory for the downsizing of the US car companies and modest vindication of the taxpayer bailouts of the auto industry. The Treasury will still lose money on GM and Chrysler, and no one will ever know what would have happened if they were auctioned off in pieces to the Japanese and European manufacturers. Net income totaled $116 million in Q1 2011 compared to a net loss of $197 million in Q1 2010 and net revenues in Q1 2011 were $13.1 billion, up 35 percent from $9.7 billion in Q1 2010.
Chrysler obviously has benefited from the return of car and light truck buyers. That will help the No.3 US car company for now. The fact that it has no real presence in Latin America or China will hurt it over time.
Chrysler still has a chance to take market share from other companies that sell cars in the US. It has just launched a retooled model line for its flagship brand, Dodge, and Jeep. So, headed toward an IPO, Chrysler has become like any other car company. It has to gamble people will like its products
Douglas A. McIntyre
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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