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Chrysler chief says '07 loss may double

December 06, 2007|From Times Wire Services

Chrysler Chief Executive Robert Nardelli told workers the automaker's loss could more than double to $1.6 billion this year, people with direct knowledge of his statements said.

Nardelli disclosed the projection at meetings this week in the Detroit area, the people said. A 2007 loss would be the second in a row for Auburn Hills, Mich.-based Chrysler, acquired in August by private equity firm Cerberus Capital Management. Chrysler had a 2006 deficit of $680 million, its last full year as part of DaimlerChrysler.

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