Chrysler's Rescue Team

Can it stop the bleeding?

It was a sobering New Year's message. Over the holiday weekend, DaimlerChrysler Chief Executive Jurgen E. Schrempp told German media it could take two to four years to turn the tide at Chrysler. Because of weak sales and out-of-control costs, the U.S. auto maker posted a $512 million loss in the third quarter and is expected to lose $1.3 billion in the fourth. It's a debacle--a scenario that couldn't be any further from the global synergies Schrempp had extolled when Daimler purchased Chrysler in 1998.

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