Lee Iacocca - the man who saved Chrysler, and made $300 million for the government

December 5, 11:28 AMBusiness ExaminerDarrell Proctor

Previous Next

Comment Print Email RSS Subscribe

Subscribe

Get alerts when there is a new article from the Business Examiner. Read Examiner.com's terms of use.

Email Address   Include other special offers from Examiner.com Terms of Use

Lee Iacocca remains active in a variety of causes.

The D.C. Economic Policy Examiner notes that today's auto industry executives could learn some lessons from Lee Iacocca, the man who in 1979 helped orchestrate the federal government's bailout of Chrysler.

And while there were many critics of the bailout - which in that case was a loan guarantee from the government, not an actual loan - the U.S. eventually banked $300 million as it cashed in its Chrysler stock options.

Iacocca, now 84, today is devoted to philanthropy, working on causes including controlling health care costs, developing alternative energy and building more hybrid vehicles. You can visit his Web site here.

And check out this video from November 2007, in which Iacocca and then-N.M. Gov. Bill Richardson - named this week as Commerce Secretary by the incoming Barack Obama administration - talk on Bloomberg TV's Money & Politics show.