Word: lacocca
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Dates: during 1970-1979
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...number of Ford Motor suppliers. These included U.S. Steel Corp., the Budd Co., the Kenyon & Eckhardt and J. Walter Thompson advertising agencies. The first contractor to be investigated was Diner's/Fugazy Travel and Incentive Inc., which is headed by William Fugazy Sr., a close friend of lacocca...
Lido Anthony lacocca was born in Allentown, Pa., into what can be described as a Ford family. His father drove a Model T, launched one of the nation's earliest rent-a-car agencies, made and lost several pre-Depression fortunes by renting Fords and trading in local real estate. Young Lido decided he wanted to enter the auto business, preferably with Ford. He got an engineering degree at nearby Lehigh University, signed on with Ford as a trainee, earned a master's in engineering at Princeton and then surprised Ford recruiters by rejecting a quiet career...
...years as a salesman, lacocca sold so many cars that Ford Vice President Robert McNamara brought him to Detroit as marketing director for Ford trucks. In 1960, at the precocious age of 36, lacocca attained what was at one time his life's goal, a Ford vice presidency (in charge of the Ford Division). It was not a complete triumph; his plan had been to be there by age 35. "He had a schedule for himself as to what amount of money he would like to be making," his wife Mary once said. "Like maybe in five years...
...Bloomfield Hills, and is active in Detroit area civic and charitable groups. He likes jazz and Big Band music, but has no hobbies. His close friends tend to come from outside the auto industry, and he has made a point of avoiding the social circles of "Mister Ford," as lacocca and other Ford executives respectfully call their ruler. lacocca once explained, "I don't want to be fired for something I said to Mister Ford over drinks at the 21 Club...
...that standard, lacocca will be officially free to buy the boss a drink after Oct. 15, the day he goes off the payroll and, not coincidentally, his 54th birthday. By allowing lacocca to stay on until then, Ford will be swelling lacocca's annual pension to more than $100,000, though the de-hired executive is hardly the retiring type. He has given "no thought to what I'm going to do at all, literally none," he says. "Education, business, government, fishing-I don't know." He would not mind being an independent Ford dealer. "Maybe there...