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Chrysler CEO Sergio Marchionne reaffirms his conviction that Chrysler Group LLC will be a profitable automaker by 2011. Chrysler is set to announce its five-year plan on November 4, make public its quarterly financial statements, and move on an IPO as soon as 2011.

Marchionne told the Toronto newspaper Globe and Mail that, “we’re not bleeding as people think we are,” noting that “the level of cost consciousness at this house is probably at a historical high.”

At the November 4 briefing, Marchionne and his management team will be speaking publicly for the first time since the company emerged from bankruptcy, as they offer presentations outlining their five-year plan.

- By: Stephen Calogera

Source: Detroit News

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