Chrysler to lose $1.6B in 2007

Chrysler LLC CEO Robert Nardelli told a group of workers Wednesday that the automaker will lose $1.6 billion this year, according to a source familiar with the meeting.

Nardelli, addressing a group of designers and engineers at a town hall style session, said the company's 2007 revenues will be less than $63 billion and its costs will exceed $64 billion.

Nardelli is the third current or former Chrysler executive to predict a loss for the automaker, which is majority-owned by Cerberus Capital Management LP. As a privately held company, Chrysler does not release its financial figures.

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