UPDATE 1-Chrysler profitable, no rush to IPO -CEO

Newswire

* Marchionne: Chrysler profitable excluding finance costs * IPO to 'monetize' union stake likely in 2011 * Expects improving US sales, lower fleet mix By David Bailey and Bernie Woodall DETROIT, July 30 (Reuters) - Chrysler, the No. 3 U.S. automaker, would be profitable on a net basis if it were not for the interest costs of loans remaining from its bailout, the automaker's chief executive said on Friday. Sergio Marchionne, who heads both Chrysler and its controlling partner Fiat ...

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