Word: chairman
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Dates: during 1990-1999
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Since leaving Detroit, Iacocca has fooled with an eclectic array of proposals, even serving a brief stint as chairman of Koo Koo Roo Chicken, the health-conscious fast-food chain. He turned down an early invitation to team up with inventor Malcolm Bricklin's electric-bike company. Yet Iacocca has been intrigued by electric propulsion since his early days at Ford, 50 years ago. "Thomas Edison promised Henry Ford he would be able to throw away the internal-combustion engine," he says. "It's 100 years later, and we're just now seeing some progress...
...employees, support from Taiwan's Giant bicycle (which produces the E-Bike) and backing from private Swiss and Italian financiers ("Europe is our next stop," he says). Iacocca has also invested in Energy Conversion Devices, an innovative Detroit batterymaker run by former General Motors chairman Robert Stempel, and in Unique Mobility Inc., which designs some of the world's most advanced electric motors. "We're assembling all the people who want to be part of the electric-vehicle revolution," says Iacocca. "This is how you get it started...
...they laughed when STEVE WYNN brought Picasso and Matisse to his casino in Las Vegas. Was the guy nuts? High art in the high desert? But when Wynn, the chairman of Mirage Resorts Inc., rolls the dice, he usually wins. His tiny two-room gallery at the Bellagio hotel has lured more than 100,000 people since its opening in late October. In the past month, more than 2,000 people a day have been anteing up $10 each to see Wynn's collection of 20 paintings, from Degas to Picasso. Wynn has also made his presence felt...
...hallowed invention--let alone Clinton's fairly substantial changes--would be unacceptable. Many Republicans--who want to use much of the surplus for tax cuts and favor "privatizing" Social Security by letting people control their own investment accounts--also savaged Clinton's proposal. House Ways and Means Committee Chairman Bill Archer's subtle response: "A thousand times...
...most battered part of the plan was the stock-market idea. Corporations hated it. Members of Congress in both parties hated it. And, most important, Federal Reserve Chairman Alan Greenspan--the patron saint of our prosperity--hated it. "I do not believe that it is politically feasible to insulate such huge funds from government direction," he said. That's Greenspanese for a simple concern: by investing some $700 billion in Social Security funds, the government-cum-shareholder would inject politics into the free market and unduly influence corporate decision-making. Would the government, for example, bring an antitrust or discrimination...