Word: iacocca
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...more than a decade now, Lee Iacocca has been synonymous with Chrysler Corp. -- for good and for ill. Almost singlehandedly he persuaded Congress in 1979 to bail out the ailing car company with a $1.5 billion loan guarantee, then paid back the money seven years ahead of schedule. After two best-selling autobiographies and 11 years of hawking his cars on TV, he became a household fixture...
Back at the Highland Park, Mich., headquarters of America's third largest automaker, platoons of loyal lieutenants toiled in his broad shadow, the best of them hoping to inherit the Chrysler crown one day. Yet, as the years passed, Iacocca led an elaborate executive-suite game of musical chairs. Somehow, every time the music stopped, Lee was still in the chair -- and eventually no fewer than five leading contenders for his job were left standing idly on the sidelines...
...seemed like deja vu all over again when Chrysler's beleaguered directors last week plucked Robert Eaton, 52, from his post as president of General Motors' profitable European business to become Iacocca's latest heir apparent. No sooner had Eaton arrived than insiders began to speculate privately about his departure. "Eaton's biggest problem is that he's probably a nice guy, and nice guys won't last long," predicted a senior executive. "Lee will kill...
...classic management view of featherbedding autoworkers in the 1960s. While he imagines workers who are doing less and less, the truth is that Americans are working longer and longer hours. Perhaps Miyazawa has the right to strike back at the quality of American effort after listening to Lee Iacocca blame his problems on Tokyo. But are the problems of U.S. companies the result of a lack of effort by the average worker...
...billion by 1994. But they are reluctant to extend assistance to U.S. makers trying to sell American cars. "The Americans themselves have done little to penetrate our market," says Nissan president Yutaka Kume. "They must try harder." Beyond that, Kume would not mind if Americans like Chrysler chairman Lee Iacocca, whose comments about Japanese honesty and fairness Kume calls "outrageous and insulting," would cease their verbal assaults and get on with selling cars...