Tom Walsh: Nearly 3 years after bankruptcy, Chrysler soars
When will Sergio Marchionne's gravity-defying Chrysler machine come careening back to Earth?
Not anytime soon, judging by its first-quarter profit of $473 million, more than four times last year's number.
Not yet three years removed from a taxpayer bailout, forced bankruptcy and a Hail Mary restructuring under the wing of Italian automaker Fiat and CEO Marchionne, Chrysler continues to post remarkable numbers.
The auto bail-out worked. And yes, I know there are people here who would rather have seen it not happen because of the concessions the workers had to make. People on the right would rather have seen it not happen because of their oddball commitment to putting free-market ahead of the good of the country.
But... NOBODY can honestly say that the rescue of GM and Chrysler was a failure. It was, in fact, a stunning success -- better than could have been hoped for.