Word: iacocca
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...Tigers were winning every day in April and May, it occurred to some that they could not possibly have been more in step with the city (unless, of course, they had been losing every day). Chrysler is up, and crime may even be down. Either Anderson or Lee Iacocca is the manager of the year...
Bieber was preceded as a Chrysler director by Douglas Fraser, who retired from the U.A.W. presidency last May. Fraser joined the board when Chrysler needed financial help from the union and soon hit it off with Chairman Lee Iacocca. Iacocca wanted Fraser to stay on as a director after his term ran out; Fraser contended that the seat belonged to the U.A.W., not to him. In contrast, Bieber and Iacocca's relationship was strained when contract negotiations with Chrysler broke down last summer. The two have since warmed a bit toward each other, but it might not last. Bieber...
...their fellows, and intelligent enough to recognize when they need such aid in return. Could there be some national embarrassment in that, a Wallace Beery blush suggesting that Americans risk becoming sissified when they acknowledge normal human dependencies? Who should be called a rugged individual these days? Lee Iacocca? All Iacocca needed was a billion dollars from the Government, and he was ready to stand alone...
...must be said that people like Iacocca add nerve to circumstances, and that it helps to work in a country where individuals have room to stretch. But standing alone often means mere hollow defiance...
...company was slow to convert to fuel-efficient small cars and faced increasingly tough opposition from both the Big Two and Japan; by mid-1979, Chrysler had accumulated nearly $500 million in losses, as well as the industry's largest backlog of unsold vehicles. Chairman Lee Iacocca, hired shortly after being fired as president of Ford, went to Washington with pleas for aid that in December 1979 netted Chrysler $1.5 billion in loan guarantees. The controversial bailout proved to be a good investment. Three weeks ago, Chrysler reported a record $802.9 million in profits for the second quarter...