Word: iacocca
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Wrong-Way Runaway. Rarely, in fact, have Ford and its 167,000 employees been so excited about a new model-and the effect it will have on competition. Into Iacocca's office one day recently strolled Don Frey, triumphantly carrying a grainy photographic print of a competitor's 1965 model, obviously made with a telescopic lens under conditions far from ideal. "You've got to see this, Lee," he said, Iacocca took the picture, studied it, then broke out in a broad smile. "So that's what it's going to look like," he said...
...galloping horse emblazoned on the front grille of the Mustang is running the wrong way. Instead of going in the traditional counterclockwise direction of a U.S. racing horse, Ford's Mustang has bolted off in the wrong direction, like a runaway. That does not seem to bother Iacocca and his men, who know a good deal more about horsepower than about horseflesh. Even in the stable atmosphere of the Ford Division, they know that runaways are hard to catch...
...Ford clearly has a big lead among the new breed. But the market for an inexpensive sports car is potentially so enormous-particularly since nearly one in every five households now shops for a second car -that Ford's competitors have no intention of leaving it to Lee Iacocca. Chrysler has already introduced a Valiant with a convex rear roofline-called a fastback in Detroit-and named it the Barracuda. American Motors is making a fastback version of its Rambler Classic, will bring it out next spring. When word of the Mustang first leaked out, General Motors began...
...People Side. As with the Mustang, much of the credit for whatever gains Ford can make with its new models belongs to Lee Iacocca. "I see this as the start of a new golden age for Ford that will make the peaks of the past look like anthills," he says. Iacocca has had a Ford in his future almost literally since birth...
...fleet of 33 cars, mostly Fords. He returned to Italy at 31 to select his bride, found her in his home town of Benevento and honeymooned at Venice's sultry Lido Beach. Back in the U.S., they called their only son Lido out of sentiment for that spot. Iacocca's father branched into real estate around Allentown, Pa., so increased his holdings that he became a pre-Depression millionaire...