How would you describe a loss of $82 million? Chrysler's Lee Iacocca calls it ) "an outstanding performance." And the tragedy of the U.S. auto industry is: he just may be right.
The third-quarter deficit announced by Chrysler last week joins even worse figures from its domestic competitors. Ford's losses from July through September hit $574.4 million, while during the same time GM's cash tank leaked $1.1 billion. All in all, the Big Three have seen losses since the beginning of the year of $5 billion -- equivalent to the GNP of Luxembourg.
Chrysler is aggressively scrambling for cash. A recent...
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