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Sergio Marchionne, the gifted executive who saved Italy's Fiat Group from a destructive meltdown earlier in the decade and then convinced the Obama Administration that he could revive the bankrupt Chrysler Group LLC, tried on Wednesday to dispel speculation that the struggling automaker was beyond help. "We want Chrysler to become a strong public company," said Marchionne, who was dressed in his trademark professorial sweater, as he opened an elaborate presentation of the struggling automaker's business plans for the next five years, which emphasize blending Fiat's small-car and small engines technology with Chrysler's muscular Jeeps...
...Chrysler has introduced only one new vehicle this fall, the Ram heavy truck, and the next new vehicle, the redesigned 2011 Jeep Grand Cherokee, won't appear until next spring. Facing a dearth of new products, Chrysler hands blame the company's previous owner, Cerberus Capital Management LLC, for slashing the product development budget in a failed bid to reach profitability. But it's more than just a lack of new vehicles plaguing the automaker; it's also the vehicles it has in hand. "Chrysler continues to struggle," Consumer Reports said earlier this month. "More than one third of Chrysler...
John Evans, director of wealth management at Truepoint Capital LLC, a wealth-advisory firm in Cincinnati, Ohio, says he's seen a 50% increase during the past six months in the number of clients nervously asking if they'll have enough cash for retirement and if they need to cut back spending or change their investment strategy. (Read "Why It's Time to Retire...
...Will this theater strategy pay off? "I give them credit, because boxing needs to try something," says Marc Ganis, president of SportsCorp LLC, a consulting firm. Overall movie theater attendance has actually risen during the recession, so the timing seems right. But Ganis worries that sports consumption has become too personalized - in the living room, on the computer, on the cell phone - for fans to abruptly change their habits. "The days when a mass audience went to movie theaters to watch a live event have come and gone," he says...
...Department stores cut new merchandise orders for the upcoming holiday season by at least 20% to bring supply in line with demand, and began pressuring fashion houses to offer lower-priced goods. "They needed to get traffic into their stores," says Milton Pedraza, chief executive of the Luxury Institute LLC...