- Great American Business Leaders of the Twentieth Century
Lido (Lee) A. Iacocca
Chrysler Corporation
1979 - 1993
Automotive & Aerospace
b. 1924
| Education |  |
|---|---|
| Undergraduate | Lehigh University |
| Graduate | MS, Princeton University |
| Personal | |
|---|---|
| Born-Died | 1924 |
| Birthplace | Pennsylvania (PA) |
| Race | White |
| Father | Owner, Small Business |
Iacocca, former president of Ford Motor Company, took over Chrysler when it was leaning towards bankruptcy. He asked Congress for a loan, arguing that if Chrysler filed for bankruptcy, the government would have to spend more on unemployment compensation than on keeping the company in business. The loan was granted and a year later, Iacocca announced Chrysler’s first profit in many years. During his turnaround of Chrysler, he brought the convertible back into fashion and introduced the minivan.