Word: lacocca
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Dates: during 1980-1989
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Though the good news of Chrysler's second quarter results had become one of the worst-kept secrets in automotive history, Chrysler Chairman Lee lacocca was determined to get all the mileage he could out of the announcement. First, he picked the National Press Club in Washington as a forum to give the second quarter company statement the widest possible coverage. Then, at a pre-speech reception, lacocca presided over the presentation of small bottles of artists' ink to the members of Congress who had voted 19 months ago to give Chrysler up to $1.5 billion in federal...
With all the fanfare complete, lacocca gave out the news: after 27 months and $3.1 billion of losses, Chrysler had made a profit of $12 million during the second quarter. Quipped lacocca: "With our second quarter profits, we too might make a tender offer for Conoco. What the hell, everybody else...
...pressed to stay in the black for the rest of the year. Even though it has sharply reduced the size of its operations and drastically cut costs, the company is headed into the year's slowest selling season. Sales will also be sluggish if interest rates remain high. lacocca last week predicted a good second half of the year for Chrysler and the rest of the industry if interest rates drop to 15% or less. But he added: "If they stay at 20%, look out-it will be disaster...
Frank Trippett points his Freudian finger at 15 world figures, ranging from Lee lacocca to John Lennon, and implies they could all self-destruct because of a "pathetic private weakness." Instead of self-destructing, they have made successful contributions to our world. Self-confidence helped them...
Chrysler Chairman Lee lacocca is now making a bid to expand the company's shrunken dealer base. lacocca, a former president of Ford Motor Co., is even trying to persuade GM and Ford dealers to display Chrysler models alongside their own. He is gambling that his models will outdo the competition and that he can eventually take over some franchises. One St. Joseph, Mo., dealer who has been affiliated with Ford for 24 years is now outselling Fords with Chryslers by 3 to 1 off his showroom floor...