Chrysler is back in the money
If it was not exactly a U-turn, it was a sharper swerve in the right direction than anyone could have expected in, say, 1980, when Chrysler Corp. set a record by losing $1.7 billion. Last week Chrysler reported profits of $170.1 million on sales of $10 billion for 1982, its first year in the black since 1977. Said Chrysler Chairman Lee Iacocca: "We are poised for what I think is a big turnaround as the economy turns around."
Chrysler managed to make money despite a recession-induced 7.9% drop in sales of its cars and trucks (from 1.3...
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