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Lido (Lee) A. Iacocca

Chrysler Corporation

1979 - 1993

Automotive & Aerospace

1970 b. 1924
UndergraduateLehigh University
GraduateMS, Princeton University
BirthplacePennsylvania (PA)
FatherOwner, Small Business
Era - 1970

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 Chryslerís first profit in many years. During his turnaround of Chrysler, he brought the convertible back into fashion and introduced the minivan.