Chrysler and Iacocca.
May 5th 2009 13:54
Now that it is official, it is timely to remind you that thirty years have passed since Chrysler first entered bankruptcy.
It all happened as ex Ford Motor company man Lee Iacocca, took over the reins at the ailing corporation. Considered by many to be the father of the Ford Mustang, Iacocca admits that he only found out how much trouble Chrysler was in once he joined ailing company.
Iacocca had a clean out of the Chrysler staff ranks, recruited some new guys and came up with a battle plan. He took all this to the Carter administration and asked for money, lots of money! They agreed and guaranteed the loans.
Realising that Chrysler had to lead their recovery with product, programs were pushed forward and the K car was born.
Iacocca was a visionary; he had a plan to form “Global Motors” which would remain unfulfilled. This plan would have seen Chrysler merge or enter into agreements with a Japanese partner and a European partner which would have had them share mechanical packages and sales channels in each others home markets. This was brilliant in its simplicity and would have saved each company millions possibly billions in development costs. All sounds a bit familiar right, did someone say FIAT?
Now remember all this was thirty years ago, Iacocca not only saved Chrysler, he also orchestrated the repayment of the multi million rescue package to the government years ahead of time.
Where is the Iacocca of today? if you are out there please call the White House collect, Autoloud is sure that President Obama will accept the charges!
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