| Lee Iacocca | |
| Born | October 15, 1924 |
|---|---|
| Occupation | Philanthropist, former Chrysler CEO, former Ford President |
| Website www.leeiacocca.com www.iacoccafoundation.org |
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Lido Anthony "Lee" Iacocca (born October 15, 1924) is an American industrialist most commonly known for his revival of the Chrysler Corporation in the 1980s[1], serving as President and CEO from 1978 and additionally as chairman from 1979, until his retirement at the end of 1992. Events 533 - Byzantine General Belisarius makes his formal entry into Carthage, having conquered it from the Year 1924 ( MCMXXIV) was a Leap year starting on Tuesday (link will display the full calendar of the Gregorian calendar. For the song by Billy Joel, see " Allentown (song." For the neighborhood in Pittsburgh Philanthropy is the act of donating money goods services time and/or effort to support a socially beneficial cause with a defined objective and with no financial or material Chrysler LLC is an American Automobile manufacturer that has been producing Automobiles since 1925 Ford Motor Company is an American Multinational corporation and the world's fourth largest automaker based on Worldwide vehicle sales, following Events 533 - Byzantine General Belisarius makes his formal entry into Carthage, having conquered it from the Year 1924 ( MCMXXIV) was a Leap year starting on Tuesday (link will display the full calendar of the Gregorian calendar. The United States of America —commonly referred to as the Chrysler LLC is an American Automobile manufacturer that has been producing Automobiles since 1925 Year 1980 ( MCMLXXX) was a Leap year starting on Tuesday (link displays the 1980 Gregorian calendar) Among the most widely recognized businessmen in the world, he was a passionate advocate of U. S. business exports during the 1980s. The 1980s was the decade spanning from January 1 1980 to December 31 1989. He is the author or co-author of several books, including Iacocca: An Autobiography (with William Novak), and Where have all the Leaders Gone?
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Iacocca was born in Allentown, Pennsylvania to Nicola and Antonietta Perrotta, Italian immigrants (from San Marco dei Cavoti, Benevento) who had settled in Pennsylvania's steel making belt. Iacocca An Autobiography is Lee Iacocca 's best selling Autobiography, co-authored with William Novak and originally published in 1984 Where have all the Leaders gone? is New York Times bestseller book written by the former CEO of Chrysler, Lee Iacocca. For the song by Billy Joel, see " Allentown (song." For the neighborhood in Pittsburgh Italy (Italia officially the Italian Republic, (Repubblica Italiana is located on the Italian Peninsula in Southern Europe, and on the two largest San Marco dei Cavoti is a Comune (municipality in the Province of Benevento in the Italian region Campania. Benevento is a town and Comune of Campania, Italy, capital of the Province of Benevento, 50 km northeast of Naples. Steel is an Alloy consisting mostly of Iron, with a Carbon content between 0 Iacocca graduated from William Allen High School in the city of his birth and Lehigh University in neighboring Bethlehem, Pennsylvania, with a degree in industrial engineering. William Allen High School is one of two public High schools located in Allentown, Pennsylvania, in the United States. Lehigh University is a private, co-educational University located in Bethlehem, Pennsylvania, in the Lehigh Valley region of Bethlehem is a city in Lehigh and Northampton Counties in the Lehigh Valley region of eastern Pennsylvania, in the He is an alumnus of Theta Chi Fraternity. Theta Chi Fraternity (ΘΧ is an international college fraternity. After graduating from Lehigh, he won the Wallace Memorial Fellowship and went to Princeton University, where he took his electives in politics and plastics. Princeton University is a private Coeducational research university located in Princeton, New Jersey. Politics Politics is the process by which groups of people make decisions Plastic is the general common term for a wide range of synthetic or semisynthetic organic solid materials suitable for the manufacture of industrial products He then began a career at Ford Motor Company as an engineer. Ford Motor Company is an American Multinational corporation and the world's fourth largest automaker based on Worldwide vehicle sales, following Eventually becoming dissatisfied with that job, he switched career paths at Ford, entering the company's sales force. He was quite successful in sales, and he moved up through the ranks of Ford, moving ultimately to product development.
Iacocca was married to Mary McCleary in 1956. McCleary died in 1983 after a decades-long struggle with diabetes. Both before and after her death, Iacocca became a strong advocate for better medical treatment of diabetes patients, who frequently faced debilitating and fatal complications. Iacocca married his second wife Peggy Johnson on 17-Apr-1986 and they were divorced in 1987 - he had the marriage annulled after 19 months. He married a third wife, Darrien Earle, in 1991. They were divorced 3 years later in 1994.
Iacocca joined Ford Motor Company in the early 1950s and after a brief stint on engineering, he quickly asked to be moved to sales and marketing where his career flourished. Ford Motor Company is an American Multinational corporation and the world's fourth largest automaker based on Worldwide vehicle sales, following Engineering is the Discipline and Profession of applying technical and scientific Knowledge and While working in a local district for sales, Iacocca gained national recognition in 1956 with his "56 for 56" campaign, offering $56 monthly payment loans for 1956 model year cars. His campaign went national and Iacocca was called to Dearborn where he quickly moved through the ranks to become President of the Ford Division on his 40th birthday, October 15, 1964.
Iacocca was involved with the design of several successful Ford automobiles, most notably the Ford Mustang. The Ford Mustang sports coupe, manufactured by the Ford Motor Company, was initially based on the Ford Falcon Also, he was responsible for the Lincoln Continental Mark III, the Ford Fiesta and the revival of the Mercury brand in the late 1960's, including the introduction of the Mercury Cougar and Mercury Marquis. See Lincoln Mark for a complete overview of the Lincoln Mark Series The Ford Fiesta is a Supermini car designed by Ford Europe, a subsidiary of Ford Motor Company Mercury is an Automobile Marque of the Ford Motor Company founded in 1939 by Edsel Ford, son of Henry Ford, to market entry-level-luxury The Mercury Cougar was an Automobile sold under the Mercury brand of the Ford Motor Company 's Lincoln-Mercury Division The Mercury Marquis was a vehicle produced by the Ford Motor Company under its Mercury brand from 1967 to 1986 He was also the "moving force," as one court put it, behind the notorious Ford Pinto [2]. The Ford Pinto was a subcompact manufactured by the Ford Motor Company for the North American market first introduced on September 11, 1970 He promoted other ideas which did not reach the marketplace as Ford products. These included cars ultimately introduced by Chrysler- the K car and the minivan. The Chrysler Corporation 's K-cars were compact-to-midsize cars designed to carry six adults on two Bench seats and were aimed not only to replace Chrysler's nominally-compact A minivan, multi-purpose vehicle (abbreviated MPV) people-carrier, people-mover or multi-utility vehicle (shortened Eventually, he became the president of the Ford Motor Company, but he clashed with Henry Ford II and ultimately, in 1978, he was fired by Henry II, despite Ford posting a $2 billion profit for the year. Henry Ford II ( September 4, 1917 — September 29, 1987) commonly known as "HF2" and "Hank the Deuce" was the son
After being fired at Ford, Lee was aggressively courted by the Chrysler Corporation, which was on the verge of going out of business (at the time, the company was losing millions due to recalls of the Chrysler F platform vehicles, the Dodge Aspen and Plymouth Volare). Chrysler LLC is an American Automobile manufacturer that has been producing Automobiles since 1925 Chrysler 's Rear wheel drive F platform was used from 1976 to 1980. The Dodge Aspen, produced from 1976 to 1980 was a Compact car from Chrysler Corporation 's Dodge division its Plymouth - branded The Dodge Aspen, produced from 1976 to 1980 was a Compact car from Chrysler Corporation 's Dodge division its Plymouth - branded Iacocca joined Chrysler and began rebuilding the entire company from the ground up, laying off many workers, selling Chrysler's loss-making European division to Peugeot, and bringing in many former associates from his former company. For the article about the bicycle manufacturer see Cycles Peugeot. Also from Ford, Iacocca brought to Chrysler the MiniMax project which turned into a very successful minivan. Interestingly, Henry Ford II wanted nothing to do with the MiniMax, making it a doomed project at Ford. Hal Sperlich, the driving force behind the MiniMax at Ford had been fired a few months before Iacocca and was waiting for him at Chrysler to make automotive history.
Iacocca started as Chrysler's Chairman, and began a heavy restructuring of Chrysler. At the time Iacocca took over, Chrysler was on the verge of bankruptcy, as it was focusing most of its money on large, fuel thirsty cars that the public didn't want due to a fuel crisis at the time. First, Iacocca announced plant closures, job layoffs, and his plans for the company. His next move was cutting several large models, which were heavily unprofitable, and put the subcompact Dodge Omni and Plymouth Horizon into production. The Dodge Omni and the similar Plymouth Horizon were Front wheel drive cars introduced by the Dodge and Plymouth divisions of Chrysler Corporation The Dodge Omni and the similar Plymouth Horizon were Front wheel drive cars introduced by the Dodge and Plymouth divisions of Chrysler Corporation The Omni and Horizon became instant hits, selling over 300,000 units each their debut year, showing what was to come for Chrysler - yet somewhat ironically the Omni and Horizon had been designed by the European division of the company which Iacocca had axed in 1978.
Realizing that the company would go out of business if it did not receive a significant amount of money to turn the company around, Iacocca approached the United States Congress in 1979 and asked for a loan guarantee. The United States Congress is the bicameral Legislature of the federal government of the United States of America, consisting of two houses Year 1979 ( MCMLXXIX) was a Common year starting on Monday (link displays the 1979 Gregorian calendar) While it is sometimes said that Congress lent Chrysler the money, it, in fact, only guaranteed the loans. Most thought this was an unprecedented move, but Iacocca pointed to the government bail-outs of the airline and railroad industries, arguing that more jobs were at stake in Chrysler's possible demise. In the end, though the decision was controversial, Iacocca received the loan guarantee from the government.
After receiving this reprieve, Chrysler released the first of the K-Car line, the Dodge Aries and Plymouth Reliant in 1981, compact automobiles based on design proposals that Ford had rejected during Iacocca's tenure there. The Chrysler Corporation 's K-cars were compact-to-midsize cars designed to carry six adults on two Bench seats and were aimed not only to replace Chrysler's nominally-compact The Dodge Aries was an Automobile sold by the Chrysler Corporation from 1981 to 1989 The Plymouth Reliant (or Reliant K, as it was sometimes called was one of the first two so-called " K-cars quot (the other being the Dodge Coming right after the oil crisis of the 1970s, these small, efficient and inexpensive, front-wheel drive cars sold rapidly. Front-wheel drive (or FF layout) is a form of engine / transmission layout used in Motor vehicles where the engine drives the front Wheels In addition, two years later Chrysler released the minivan, based on a proposal of a key engineering executive Hal Sperlich who joined Chrysler after being dismissed by Ford; to this day, Chrysler leads the automobile industry in minivan sales. A minivan, multi-purpose vehicle (abbreviated MPV) people-carrier, people-mover or multi-utility vehicle (shortened Ford Motor Company is an American Multinational corporation and the world's fourth largest automaker based on Worldwide vehicle sales, following Because of these three cars, and the reforms Iacocca implemented, the company turned around quickly and was able to repay the government-backed loans seven years earlier than expected.
Iacocca was also responsible for Chrysler's acquisition of AMC in 1987, which brought the profitable Jeep division under Chrysler's corporate umbrella. American Motors Corporation (AMC was an American automobile company formed on January 14 1954 by the merger of the Nash-Kelvinator Corporation Year 1987 ( MCMLXXXVII) was a Common year starting on Thursday (link displays 1987 Gregorian calendar) Jeep is an Automobile Marque (and registered trademark of Chrysler. It also created the short-lived Eagle division, formed from the remnants of AMC. Eagle was a Marque of the Chrysler Corporation following the purchase of American Motors Corporation (AMC and aimed at the enthusiast driver By this time, AMC had already finished most of the work with the Jeep Grand Cherokee, which Iacocca desperately wanted. The Jeep Grand Cherokee is a Mid-size unibody Sport utility vehicle produced by the Jeep division of Chrysler. The Grand Cherokee would not be released until 1992 for the 1993 model year, at which time Iacocca left Chrysler.
Throughout the 1980s, Iacocca appeared in a raft of commercials for Dodge and Plymouth vehicles, using the ad campaign "The pride is back" to denote the turnaround of the corporation. Dodge is a United States -based brand of Automobiles Sport utility vehicles and Trucks manufactured and marketed by Chrysler LLC Plymouth ( is a city and unitary authority area on the coast of Devon, England about south west of London.
In May 1982, Ronald Reagan appointed Iacocca to head the Statue of Liberty-Ellis Island Foundation, which was created to raise funds for the renovation and preservation of the Statue of Liberty. Liberty Enlightening the World (La liberté éclairant le monde commonly known as the Statue of Liberty (Statue de la Liberté was presented Ellis Island, at the mouth of the Hudson River in New York Harbor He continues to serve on the board of the foundation.
In 1984, Iacocca co-authored (with William Novak) his autobiography, titled Iacocca: An Autobiography. Iacocca An Autobiography is Lee Iacocca 's best selling Autobiography, co-authored with William Novak and originally published in 1984 It was a hugely successful book, proving to be the best selling non-fiction hardback book of 1984 and 1985. The proceeds of the book's sales benefitted diabetes research.
Iacocca appeared on an episode of Miami Vice, playing Park Commissioner Lido in episode #44 (titled Sons and Lovers) on May 9, 1986. Miami Vice is an American Television series produced by Michael Mann for NBC. The name of the character is a play on his birth name. Also, he was frequently quoted by Izzy Moreno, one of the show's regular characters.
In 1988, Iacocca co-authored (with Sonny Kleinfeld) Talking Straight[3] , a book meant as a counter-balance to Akio Morita's Made in Japan, a non-fiction book praising Japan's post-war hard-working culture. Talking Straight ( 1988 Bantam Books) is a book written by Lee Iacocca, then CEO of Chrysler Motors with Sonny Kleinfeld Akio Morita (盛田昭夫 Morita Akio, January 26 1921 in Tokoname Aichi, Japan &ndash October 3 1999 in Tokyo) was a co-founder of Made in Japan is a book about the Japanese Sony corporation It was written with the assistance of Edwin M World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including Talking Straight praised the innovation and creativity of Americans. [4]
Pennsylvania Governor Robert P. Casey considered appointing Iacocca to the U.S. Senate in 1991 after the death of Senator H. John Heinz III, but declined. Governors Pennsylvania was one of the original Thirteen colonies, and was admitted as a state on December 12 1787 For other people with the same name see Robert Casey. Robert Patrick Casey Sr The United States Senate is the Upper house of the bicameral United States Congress, the Lower house being the House of Representatives Henry John Heinz III (October 23 1938 – April 4 1991 was an American politician from Pennsylvania, a Republican member of the United States
In 1999 Iacocca was the head of EV Global Motors Co. a company formed to develop and market electric bikes with a top speed of 15 mph and a range of 20 miles between recharging at wall outlets. [5]
Politically, Iacocca supported the successful Republican candidate George W. Bush in the 2000 presidential election. George Walker Bush ( born July 6 1946 is the forty-third and current President of the United States. The United States presidential election of 2000 was a contest between Democratic candidate Al Gore, then Vice President, and Republican In the 2004 presidential election, however, he endorsed Bush's unsuccessful opponent, Democrat John Kerry[6]. The United States presidential election of 2004 was held on Tuesday November 2, 2004, to elect the President of the United States. The Democratic Party is one of two major Political parties in the United States, the other being the Republican Party. } John Forbes Kerry (born December 11 1943 is an American Politician who is currently serving his fourth term as the junior United States Senator Most recently, in Michigan's 2006 Gubernatorial race, Iacocca appeared in televised political ads endorsing Republican candidate Dick DeVos,[7] who lost. Dick DeVos (born Richard DeVos Jr October 21, 1955) is a businessman and Republican Politician from Michigan. He has endorsed New Mexico Governor Bill Richardson for President in the 2008 Presidential Election. Governors Governors of New Mexico Territory Governors of New Mexico William Blaine "Bill" Richardson III (born November 15, 1947) is the current Governor of New Mexico and was a candidate for the 2008 The President of the United States is the Head of state and Head of government of the United States and is the highest political official in United States by The United States presidential election of 2008, scheduled for Tuesday November 4 2008 will be the 56th consecutive
Following the death of Iacocca's wife from diabetes, he has become an active supporter of research to find a cure for the disease, and has been one of the main patrons of the innovative diabetes research of Denise Faustman at Massachusetts General Hospital. Diabetes mellitus (ˌdaɪəˈbiːtiːz or /ˌdaɪəˈbiːtəs/ /məˈlaɪtəs/ or /ˈmɛlətəs/ often referred to simply as diabetes ( Ancient Greek: grc Denise L Faustman, (born 1958 is a US Physician and medical researcher Massachusetts General Hospital ( Mass General or MGH) is a Teaching hospital of Harvard Medical School and a Biomedical research In 2000, Iacocca founded Olivio Premium Products, which manufactures the Olivio line of food products made from olive oil. Olivio Premium Products Inc, is a Food manufacturing company based in Boston, Massachusetts, USA. Olivio is the Brand name for Condiments and Cooking oils manufactured by Olivio Premium Products. Olive oil is a fruit oil obtained from the olive ( Olea europaea; family Oleaceae along with Lilacs Jasmine and ash trees He donates all profits from the company to diabetes research. In 2004, Iacocca launched Join Lee Now[8], a national grassroots campaign that will bring Faustman's research to human clinical trials in 2006. For other meanings see Grass roots (disambiguation. A grassroots movement (often referenced in the context of a Political movement
Iacocca has been an advocate of "Nourish the Children", an initiative of Nu Skin Enterprises[9], since its inception in 2002. He is currently its chairman. He takes an active interest in the initiative and helped to donate a generator for the Malawi, Africa VitaMeal plant. The Republic of Malawi (məˈlɑːwi or; formerly Nyasaland) is in southern Africa.
On May 17, 2007, Simon & Schuster published Iacocca's new book, Where Have All the Leaders Gone?[10] co-written with Catherine Whitney [11]. Simon & Schuster Inc, a division of CBS Corporation, is a Publisher founded in New York in 1924 by Richard L An article with the same title, and same two co-authors, has recently appeared. [12] In the book, Iacocca writes:
On December 3, 2007, Iacocca launched a website intended to encourage open dialogue about the challenges of our time, such as what soaring health care costs are doing to America and why the U. S. lags so far behind in developing alternative energy sources and hybrid vehicles. The site also promotes Iacocca's book Where Have All the Leaders Gone and allows users to rate presidential candidates by the qualities Iacocca feels every true leader should possess: curiosity, creativity, communication, character, courage, conviction, charisma, competence and common sense.
Iacocca led the funding campaign to expand Lehigh University into buildings formerly owned by Bethlehem Steel. The Bethlehem Steel Corporation (1857–2003 based in Bethlehem Pennsylvania, was once the second-largest Steel producer in the United States, after Iacocca Hall on the Mountaintop Campus of Lehigh University houses the College of Education, the biology and chemical engineering departments, and The Iacocca Institute, which is focused on global competitiveness.
Center Valley, Pa. The Tv/Film Studios are named for Iacocca for donating generous amounts of money to the University and Tv/Film program.
Iacocca retired as President, CEO and Chairman of Chrysler at the end of 1992. In 1995, he assisted in billionaire Kirk Kerkorian's hostile takeover of Chrysler, which was ultimately unsuccessful. Kerkor "Kirk" Kerkorian (born June 6, 1917) is an Armenian-American Billionaire, and president/ CEO of Tracinda In business a takeover is the purchase of one company (the target) by another (the acquirer, or bidder) The next year, Kerkorian and Chrysler made a five-year agreement that includes a gag order preventing Iacocca from speaking publicly about Chrysler. [1]
In July 2005, Iacocca returned to the airwaves[1] as Chrysler's pitchman, along with stars such as Jason Alexander and Snoop Dogg, to promote Chrysler's "Employee Pricing Plus" program; the ads reprise the "If you can find a better car, buy it" line that was Iacocca's trademark in the 1980s. Jason Alexander (born September 23 1959 as Jay Scott Greenspan) is an American television cinema and Musical theatre comedic actor best known for his role Cordozar Calvin Broadus Jr (born October 20 1971 His mother nicknamed him " Snoopy " as a child because of the way he dressed and because of his love of A trademark or trade mark, represented by the symbols ™ and ®, or mark is a distinctive sign or indicator used by an individual In return for his services, Iacocca and DaimlerChrysler agreed that his fees, plus a $1 donation per vehicle sold from July 1 through December 31, 2005, would be donated to the Iacocca Foundation for diabetes research. Daimler AG ( (formerly DaimlerChrysler AG) is a German car corporation (not to be confused with the British car-maker Daimler Motor Company) and "July 1st" redirects here For the Ayumi Hamasaki song see H (song. Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Diabetes mellitus (ˌdaɪəˈbiːtiːz or /ˌdaɪəˈbiːtəs/ /məˈlaɪtəs/ or /ˈmɛlətəs/ often referred to simply as diabetes ( Ancient Greek: grc Iacocca appeared in a 2005 Iacocca/Chrysler commercial with an actress, not his actual granddaughter,[13] which many people think.
Iacocca's legacy can be noted by parodies and mentions in film and other media. In the 1987 movie, RoboCop, which takes place in future Detroit, one "Mediabreak" reports an incident that took place at fictitious "Lee Iacocca Elementary School. RoboCop is a 1987 Cyberpunk film directed by Paul Verhoeven. The film features Peter Weller, Dan O'Herlihy, Kurtwood " More recently, in the The Office episode "Cocktails", Michael Scott toasts with a glass of 20-year, single malt scotch, "To Mr. Single Malt Scotch is a type of Single malt whisky, distilled by a single distillery in a Pot still, using Malted Barley as the only Iacocca and his failed experiment, the De Lorean. " (Iacocca had nothing to do with the De Lorean car. John De Lorean, the automotive engineer, worked for Packard and GM, but not Chrysler. ) Incidentally, one of the writers, producers, and stars of The Office is B.J. Novak, whose father is William Novak, co-author of Iacocca's autobiography. Benjamin Joseph Manaly Novak (born July 31, 1979) better known as B
Chrysler's loan guarantee controversy was parodied by folk singer Tom Paxton in his song "I'm Changing My Name to Chrysler" as a (not particularly serious) way for individuals to get out of their own financial problems. Thomas Richard Paxton (born October 31, 1937) is a well-known American folk singer and Singer-songwriter who has been writing Part of the chorus of the song goes, "I will tell some power broker/What he did for Iacocca/Will be perfectly acceptable to me. " Iacocca was further referenced in the long-time unreleased Neil Young song 'Ordinary People' refers to 'Lee Iacocca people'. It was released on the album Chrome Dreams II in October 2007. Chrome Dreams II is the 30th studio album by Canadian rock musician Neil Young.