Word: forded
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Dates: during 1980-1989
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...auto industry that even before the reporting on this week's cover story % began, TIME's Detroit bureau had amassed a bulging storehouse of information on him. The files date back to 1964, when the magazine produced the first of its four cover stories on Iacocca. Then a Ford executive, he had just launched what quickly became the hottest-selling new car in the U.S., the Mustang. While preparing for this week's cover story, Detroit Bureau Chief Paul Witteman found among the office records some of his own notes on Iacocca from 1978. "When I first...
...Chrysler executive jet, watched Iacocca make decisions in Detroit about new models, and observed him working the crowd at a cocktail party for House Democratic leaders at the Greenbrier in West Virginia. He interviewed Iacocca's two daughters as well as present and former executives at Chrysler and Ford and even joined Iacocca at home for a dinner prepared by his fiancee...
...hotly debated argument. The Reagan Administration carefully refrained from calling the MX a bargaining "chip," which would imply a willingness to trade the system away. Even if the MX were used in the talks, moreover, that would provide no guarantee that its status would remain permanently negotiable. The Ford Administration conceived of the cruise missile largely as a bargaining item, for example, but the U.S. has since been reluctant to place cruise missiles, especially the sea-launched variety, on the table. The only major weapons system ever to serve as true trade-off material was the antiballistic-missile defense, which...
...cars, with higher profit margins, are selling well. "Americans are falling in love with big cars again," Iacocca explains, "and with gas at a dollar a gallon, what the hell, why not?" Chrysler profits last year, $2.4 billion, were higher than those of the previous 60 years put together. (Ford's were $2.9 billion last year, GM's $4.5 billion.) Of the laid-off workers, 41,000 have been rehired. Iacocca last month had the company give a $500 bonus to all 100,000 employees. The morning he announced that Valentine's Day gift, Peggy Johnson remembers, "he was like...
...almost seems like Detroit's go-go days again. And some of the resonances from the old times seem ironic. "In many ways," reckons a member of the Ford family, "Iacocca and Henry Ford are alike." Iacocca, for instance, can be an unreasonably terrifying boss. Says one chewed-out executive: "He's vitriolic and explosive." Ford had Iacocca do his dirty work; former Chrysler executives say that Iacocca has relied on Gerald Greenwald, his vice chairman and suave heir apparent, to deliver the bad news. Iacocca's definition of management by consensus is revealing. "Consensus," he says, "is when...