Chrysler Group said Wednesday its third-quarter profit jumped 22% amid a surge in U.S. retail sales.The automaker also confirmed its full-year outlook for net income of $1.7 billion and $2.2 billion, while global vehicle shipments are expected to total 2.6 million.Chrysler's profit rose to $464 million from $381 million in the year-ago period. Modified operating profit was $862 million compared to $706 million. Revenue was up 13% at $17.57 billion.Chrysler had negative cash flow of $343 million in the third quarter, leaving it with $11.5 billion at the end of last month. Industrial debt was $888 million, up from $656 million at the end of June.The latest period was Chrysler's ninth-consecutive profitable quarter, as the company continues to benefit from a rebound in U.S. auto demand.Domestic auto sales across the industry have been on a tear. Chrysler, along with larger rival Ford (NYSE:F), bucked an industry-wide trend in September with higher sales . Most automakers saw declines sinc...
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FOXBusiness.com’s Kate Rogers on pensioners across the country now concerned over the safety of their own retirement funds in the wake of Detroit’s bankruptcy filing.
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Manhattan Institute senior fellow Stephen Eide and former Clinton advisor Doug Schoen weigh in on the fallout of Detroit's bankruptcy process.
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Manhattan Institute senior fellow Steve Malanga weighs in on San Jose's pension problems.
Postmaster General Patrick Donahoe on efforts to boost revenue and cut costs for the U.S. Postal Service.
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Oakland County Executive L. Brooks Patterson on the factors that led to Detroit’s bankruptcy as nearby Oakland County prospered.