Word: iacocca
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Dates: during 1980-1989
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...better position to benefit from a recovery in sales than when they pulled out of earlier recessions. That is because of new operating efficiencies. In 1979, for ex ample, Chrysler had to sell 2.4 million vehicles just to cover its costs. Now, boasts Chairman Lee A. Iacocca, that number has been cut to 1.1 million cars, as employment and other costs have been reduced by $1.2 billion...
Enter ecology, inflation. Exit infinite space. In no time flat the American automobile industry is reduced to a tragicomic opera, with Lee Iacocca as chief of the sad clowns, and a cast of thousands unemployed. Art imitates death. The Solid Gold Cadillac disintegrates pathetically into My Mother the Car, then goes nuts entirely. In 1977 Hollywood produces The Car, a movie equally moronic and spellbinding, in which a driverless sedan plays mass murderer. No Freudians necessary. The only medium to keep the faith is television, always a cultural anachronism, with the cop shows half consumed with cars chasing cars. Even...
Analysts also blamed the defeat on the public posturing of Chrysler Chairman Lee Iacocca, 57, who has been working vigorously to convince car buyers and investors that the company is again sound. At Chrysler's new-car introduction in Houston last month, for example, Iacocca boasted that the firm had accumulated a $1 billion hoard of cash and securities. Said he: "That's the most cash we've had on hand in the history of the company." Said David Healy, of Drexel Burnham Lambert: "The popular opinion is that Iacocca's blabbing about the billion dollars...
...unlikely source--Chrysler Chairman Lee A. lacocca. During the Chrysler UAW negotiations, the former Ford executive apparently developed what one local president called "terminal diarrhea of the month," and boasted that rising sales and the recent sale of Chrysler defense factories had left the corporation rolling in the dough. Iacocca's claims may have stoked investor faith in Chrysler stock, but they in turn raised if the company was in such great shape--they weren't reaping the economic benefits rather than being asked to sacrifice even more...
...Iacocca, the brash, cigar-chomping chairman of Chrysler Corp., is an optimist by nature. At the introduction of his company's 1983 model cars at The Woodlands Inn & Country Club near Houston last week, however, he could scarcely disguise a sense of frustration. Said Iacocca: "Chrysler is ready to go; unfortunately the economy is not. There's a lot of fear out there because there's a lot of uncertainty about interest rates, currency values and our economic policy...