Remembering Lee Iacocca, a household name in the 80s and beyond who extolled all-American values of hard work and commitment
At a press conference in Detroit, Michigan, in 1982, the chairman of Chrysler Motors Corporation, Lee Iococca, gestures while he speaks., who became a household name in the 1980s by steering the troubled Chrysler out of bankruptcy and eventually into record profits in a brash, public fashion, died today at 94 at his home in Bel Air. Sources said the cause of death was complications of Parkinson's disease.
Becoming President of Ford in 1970, Iacocca became well-known for taking chances without exhaustive market research or focus groups, instead developing an instinct for knowing what the American public wanted in their new cars, and giving it to them. Chrysler Chairman Lee Iacocca sits in the front seat of a"1982 1/2" prototype Chrysler LeBaron Convertible while curious onlookers examine the new car. Washington, D.C., July 31, 1981.Henry Ford II fired Iacocca in 1978 partially due to the fallout of Ford's disastrously dangerous Pinto and reported personality clashes. Iacocca was then hired by the cash-poor Chrysler who saw record profits of more than $2.4 billion under his stewardship.
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