Word: iacocca
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Dates: during 1980-1989
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...made out to PTL had gone to the Lynchburg ministry. Bakker loyalists remain unconvinced. Said Robert Zanesky, the lawyer for a group of PTL contributors intent on removing Falwell: "His credibility stinks." Says Ryan Hovis, a bankruptcy lawyer representing Bakker: "No stockholder in Chrysler would sit still if Lee Iacocca were chairman of the board for Ford...
...bargain-basement suits and button-down, short-sleeve shirts, Dukakis offers the Democrats neither charisma nor quixotic causes. Instead, he is running as the Lee Iacocca of state government: the Governor who brought the Massachusetts economy back from the dead. True, a Harvard study concluded that, at most, state government "may have helped sustain the growth once it began." And even Frank Keefe, Dukakis' secretary of administration and finance, claims only that the Governor's policies are responsible for 20% of the drop in state unemployment...
...Chrysler's ebullient chairman Lee Iacocca, it was a humiliating moment. "We're all culpable, and we made a mistake," he declared at a news conference last week. It was "dumb" and "unforgivable," he said, for Chrysler to have allowed employees to test-drive some of the company's new autos with their odometers disconnected and later sell the cars as new. That practice led to a grand-jury indictment against the company and two of its executives two weeks ago. Chrysler had vigorously defended its actions as normal quality-testing procedures in the industry, but amid a storm...
...reform and the insider- trading scandal (see following story). Chrysler, which began considering the AMC purchase last summer, estimates that it missed out on $100 million worth of potential tax write-offs on the deal on Jan. 1 because the advantages were eliminated by the reform legislation. Nonetheless, Iacocca was determined to buy AMC. Said he: "((The merger will)) strengthen both of us in what's already become a tough market...
...last week's announcement was, of course, a milestone. Even though Iacocca said AMC will remain intact as a Chrysler subsidiary, at least for a time, the sale agreement marks the demise of a firm with origins that date back to 1902 and the production at Kenosha of the firstone-cylinder Rambler automobile by the Thomas B. Jeffery Co. A series of mergers culminated in the formation of American Motors in 1954. In the late 1950s and early 1960s, under the chairmanship of George Romney, the company carved out a niche for itself as a groundbreaking producer of small classics...