Word: lacocca
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Dates: during 1970-1979
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Riccardo, who will remain as chairman, is scheduled to be replaced as chief executive toward the end of the year by President Lee lacocca, but long lead times and lack of capital will prevent lacocca from making any significant product changes before 1982. So far his much promoted fiveyear, 50,000-mile protection plan has not done much to move Chrysler's top-heavy line of big cars out of the showrooms. Sales of the Omni and Horizon compacts have almost doubled since last year, but their production is limited because of a contract with Volkswagen, which makes...
...saving in research and development costs. Many auto industry experts expect that Chrysler will survive, but as a smaller, less competitive entity. The company's best hopes are that the Government would not allow the industry to be dominated by GM and Ford alone, and that lacocca somehow will improve the company's shabby planning and marketing. Says Sperlich: "We are looking to old General Patton to kick a lot of tail...
...last year. Imports, mostly small and gas thrifty, are taking more than 22% of all sales, a record share. At the same time, sales of gas guzzlers are off so sharply that totals for U.S.-made cars in April ran 11.5% below a year earlier. Says Chrysler President Lee lacocca, assessing the sales performance of his company's large offerings: "The big-car industry is going down like a rock...
...registered sales of $63 billion, roughly equal to the gross national product of Switzerland. GM is able to spread fixed costs across a much greater volume than its competitors can, and it can spend more for experiment and developing new hardware. As Chrysler President Lee lacocca notes: "At Chrysler, if I had three potentially big-selling cars, I would have to choose one to go with. At Ford you'd say 'go with two'. At GM they say, 'Bullshit, let's go with all three...
...Franklin Murphy, an outside director who is chairman of the Ford board's audit committee and also chairman of the Los Angeles Times Mirror Co. Murphy had never authorized the investigation in the first place. The elaborate examination produced no damaging information about Iacocca. According to his friends, lacocca is enraged by the thought that people within the company may be spreading rumors concerning his personal life and finances...