auto bailout plan

Chrysler: Making a Profit in 2010 Will Be 'Difficult'

As it struggles to boost sales amid an economic slump, Chrysler CEO Sergio Marchionne warns that the automaker will have a "difficult" time making a net profit in 2010. Marchionne offered no guidance for the company%u2019s performance in the third or fourth quarters of the year, Reuters reported. Chrysler, the no.3 U.S. automaker, reported a net loss of $172 million in the second quarter and $197 million in the first quarter.

GM and Spyker Seal a Deal
for Saab

After a year-long search, General Motors finally found a buyer for Saab in Spyker Cars, a Dutch sports-car maker. The offer comprises $74 million in cash and $326 million in preferred shares. Saab workers and customers finally have a strong reason to be hopeful.