Word: iacocca
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Dates: during 1970-1979
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Last week Chrysler's voluble chairman, Lee Iacocca, took his corporate aid campaign on the road. In a session with TIME, Iacocca was characteristically outspoken. Excerpts...
Like an auto company showing off its new cars, the beleaguered Chrysler Corp. last week unveiled its shining new 1980 model management. Lee Iacocca, 54, the razzmatazz marketing whiz and former Ford president who joined Chrysler only last November, was elected chairman to replace John Riccardo, 55, who surprisingly retired, citing as a cause his recent heart trouble. Joining Iacocca at the top were several cronies from his 32 years at Ford. J. Paul Bergmoser, 63, former purchasing vice president at Ford, takes over as president; the new executive vice president for finance is Gerald Greenwald, 44, once president...
...leave the taxpayers holding the bag if Chrysler defaulted on loans from private bankers, Miller bridled not only at the size of the financial package but also at the fact that Chrysler's plan did not include aid commitments from unions and local governments. He told Riccardo and Iacocca that about $750 million in loan guarantees was the limit for Government aid and that he wanted wider participation in the rescue operation...
...This is utter speculation. It's an asinine price." -Chrysler President Lee Iacocca...
More skeptical, Detroit's automakers at first showed little interest in the Moodymobile. Chrysler President Lee Iacocca last week announced that he would like to meet Ralph Moody, while Ford Motor executives plan to hold talks with Shetley about supplying cars for further conversion experiments. General Motors sent the director of its new devices section to study...