Chrysler at it's Best and Worst

Written by: Jimmy Sesto

The best and worst idea in the auto industry involved the same person and company, Lee Iacocca and Chrysler. Lee was President of Ford for a number of years and was the brains behind the Mustang and despite having Ford turn a $2 billion profit in 1978 Iacocca and Ford parted ways. Chrysler on the verge of collapsing under major debt and low sales somehow got Iacocca to come run the company. As first order of business Lee got a publicly frowned upon loan backed by the U.S. government. Then he implemented his minivan and K-car ideas and saved the company while paying back the loan 7 years early. After Chrysler was thriving Lee retired in 1992 but later tried to buy the company as it was on a down slope once again but was stopped by Chrysler executives. Since that time Chrysler has been sold and bought 3 times and needed another bailout. I hope it works out but they would have been better off with Lee Iacocca at the helm once again.