Iacocca, Lee

Iacocca, Lee
orig. Lido Anthony Iacocca

born Oct. 15, 1924, Allentown, Pa., U.S.

U.S. automobile executive.

He was hired as an engineer by Ford Motor Co. but soon moved to its sales department and was noted for his successful promotion of the sporty yet inexpensive Mustang. He rose rapidly, becoming president of Ford in 1970. His brash manner led to his dismissal by Henry Ford II in 1978. A year later he was hired by the nearly bankrupt Chrysler Corp. He persuaded Congress to lend Chrysler $1.5 billion in 1980 and carried out layoffs, wage cuts, and plant closings to make the company more efficient. He also shifted the company's emphasis to more fuel-efficient cars and embarked on an aggressive advertising campaign. Within a few years Chrysler was showing record profits, and Iacocca was a national celebrity with a best-selling autobiography, Iacocca (1984). He retired in 1992.

Iacocca, 1983

UPI/Bettmann

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▪ American businessman
byname of  Lido Anthony Iacocca  
born Oct. 15, 1924, Allentown, Pa., U.S.
 
 American automobile executive who, as president and chairman of the board of the foundering Chrysler Corporation (Chrysler LLC), secured the largest amount of federal financial assistance ever given to a private corporation at that time.

      The son of an Italian immigrant, Iacocca graduated from Lehigh University, Bethlehem, Pa., in 1945 and received a master's degree in engineering from Princeton University in 1946. Hired as an engineer by the Ford Motor Company, he quickly proved that he was better suited for sales. By 1960 he had become general manager of the Ford division and a vice-president of the company. Iacocca's increasing influence at Ford was hastened by his successful promotion of the sporty yet inexpensive Mustang. He was named president of Ford in 1970, but his brash, unorthodox manner led to his dismissal in 1978.

      The following year Iacocca was hired by the Chrysler Corporation, which, having accumulated a huge inventory of low-mileage cars at a time of rising fuel prices, faced bankruptcy. Iacocca appealed to the federal government for aid, gambling that it would not allow Chrysler to fail when the national economy was already depressed. Although his request sparked intense debate over the role of government in a market economy, Congress in 1980 agreed to guarantee $1,500,000,000 in loans if the company could raise another $2,000,000,000 on its own. Iacocca responded by finding new sources of credit and by trimming operations, closing plants, and persuading labour unions to accept layoffs and wage cuts. He then shifted the company's emphasis to fuel-efficient models and undertook an aggressive advertising campaign that included personal appearances on television commercials. By 1981 Chrysler showed a small profit, and three years later it announced record profits of more than $2,400,000,000. Iacocca became a national celebrity. His autobiography, Iacocca (1984), and a second book, Talking Straight (1988), were best-sellers. Iacocca retired as Chrysler's chief executive in 1992.

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Universalium. 2010.

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  • Iacocca, Lee — orig. Lido Anthony Iacocca (n. 15 oct. 1924, Allentown, Pa., EE.UU.). Ejecutivo estadounidense de la industria automotora. Fue contratado como ingeniero por Ford Motor Co., pero pronto fue trasladado al departamento de ventas, donde sobresalió… …   Enciclopedia Universal

  • Iacocca, Lee —  (1924–) American businessman …   Bryson’s dictionary for writers and editors

  • Iacocca — Lee Iacocca Lee Iacocca (Lido Iacocca * 15. Oktober 1924 in Allentown, Pennsylvania, USA) – Sohn italienischer Einwanderer – ist ein wichtiger Manager in der Automobilindustrie, der für verschiedene amerikanische Unternehmen arbeitete. Im August… …   Deutsch Wikipedia

  • Lee — /lee/, n. 1. Ann, 1736 84, British mystic: founder of Shaker sect in U.S. 2. Charles, 1731 82, American Revolutionary general, born in England. 3. Doris Emrick /em rik/, born 1905, U.S. painter. 4. Fitzhugh /fits hyooh / or, often, / yooh ; fits… …   Universalium

  • Lee — Lee, Anna Lee, Nathanael Lee, Robert Edward Lee, Vernon Lee, Yuan Tseh * * * (as used in expressions) Bench, Johnny (Lee) Berners Lee, Tim Chennault, Claire L(ee) De Forest, Lee Frost, Robert (Lee) Glashow, Sheldon Lee …   Enciclopedia Universal

  • Lee Iacocca — Infobox Celebrity name = Lee Iacocca image size = 220px caption = birth date = birth date and age|1924|10|15 birth place = Allentown, Pennsylvania death date = death place = occupation = Philanthropist, former Chrysler CEO, former Ford President… …   Wikipedia

  • Lee Iacocca — Archivo:LeeIacocca.jpg Lee Iacocca. Lido Anthony Lee Iacocca (nacido el 15 de octubre de 1924 en Allentown, Pensilvania, Estados Unidos), de ascendencia italiana, es una de las personas más representativas de la industria del automóvil de finales …   Wikipedia Español

  • lee — lee1 /lee/, n. 1. protective shelter: The lee of the rock gave us some protection against the storm. 2. the side or part that is sheltered or turned away from the wind: We erected our huts under the lee of the mountain. 3. Chiefly Naut. the… …   Universalium

  • Lee Iacocca — (Lido Iacocca; * 15. Oktober 1924 in Allentown, Pennsylvania, USA) – Sohn italienischer Einwanderer – ist ein wichtiger Manager in der Automobilindustrie, der für verschiedene amerikanische Unternehmen arbeitete. In der Liste der besten… …   Deutsch Wikipedia

  • Lee Iacocca — Lee Iacocca, né le 15 octobre 1924, est principalement connu pour avoir été président de Chrysler de 1978 à 1992. Ingénieur de formation, il débute sa carrière chez Ford en août 1946. Il y restera jusqu en juillet 1978. Il en intègre les services …   Wikipédia en Français

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