Word: lacocca
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Dates: during 1980-1989
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Baseball Player Reggie Jackson speaks of his importance to his sport: "I am the straw that stirs the drink. It all comes back to me." Chrysler Chief Lee lacocca recalls what happened to him while he was rising in the busi ness world: "I got pretty damn good." Chicago Realty Mogut Evangeline Gouletas awards herself an ovation on the eve of marrying Governor Hugh Carey of New York: "In Chicago, they love me. In Chicago, I am already First Lady." Novelist Gore Vidal confides why the New York Times published a favorable review of his new book Creation: "They...
...executives get older and more mature, Cronin says, they gain confidence and perspective, along with a little humor. Chrysler Chairman Lee lacocca, whose job is hardly a barrel of laughs these days, quipped when a shareholder asked him to comment on his self-imposed $1 a year salary: "Oh, don't worry. I spend it very carefully." Says Cronin: "From what I've seen of him, Iacocca has a sense of humor. God help him if he doesn't." Cronin believes that young executives who show no humor are missing an important lesson. Success in any field...
...innards were those of a utilitarian Ford Falcon, but its shell was sleek and jaunty enough to make it the only auto ever to win a design award from Tiffany & Co. Not even Lee lacocca, the Mustang's chief progenitor and now chairman of Chrysler Corp., expected it to be the most popular new car of the decade. The first weekend the Mustang went on sale, 4 million people visited Ford showrooms. Over the next two years, the company built 1.28 million Mustangs. Young people snapped them up because they looked racy, yet cost as little...
...into souped-up Shelby Mustangs. Price of the new Shelbys: $40,000. Detroit cannot keep its hands off a winner, though, and the classic Mustang died after 1968-of obesity. Ford gradually fattened the car, boosting its size, adding 584 Ibs. to its weight by 1971. Sales slowed, prompting lacocca to confess, "The original Mustang buyer is still there, still wanting a good little car. We walked away from the market...
Like a man waiting for a bad headache to go away, Detroit is stuck with its undesirable cars while looking forward to the new generation of fuel-thrifty cars due to begin arriving on dealer lots this fall. In describing the new Chrysler autos, lacocca says: "We're going to be building three types-small cars, smaller cars and smallest cars." Both Ford and GM will introduce front-wheel drive, so-called world cars, which may be the industry's best prospect for future profits. These will be small, economical vehicles assembled from parts made in several countries...