From the FINANCIAL TIMES:
Chrysler reported first-quarter earnings of $116m, its first net profit since emerging from a state-backed restructuring two years ago under the day-to-day control of Italy’s Fiat.
The Detroit carmaker projected a profit of between $200m and $500m for 2011 as a whole. That excludes $400m in charges, net of interest savings, resulting from a pending refinancing package that will allow Chrysler to replace state loans with lower-cost bank loans and debt securities.
Chrysler’s turnround means that all three Detroit carmakers – including General Motors and Ford Motor – are again profitable…
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