Chrysler’s Falling Star
I must say I was saddened by the latest news about Chrysler’s former CEO today. My connection to the car company runs deep. My first job out of college was selling cars (and trucks) at a Chrysler dealership. It was the heyday of the minivan, and some K cars and Omnis still dotted the lot.
Although the company’s logo was a star (a Pentastar to be exact), the real star was the company’s then CEO,
Lee Iacocca. I had a copy of his self-titled book in my desk at the dealership. He was credited with turning around the third of the big three with the help of a government guarantee, the minivan, the K car, and his own brilliant ingenuity. He was an icon of innovation, smart marketing strategy, and success itself!
So, being the nostalgic type, it was painful to open my internet browser this morning and read Iacocca losing pension, car in Chrysler bankruptcy. Now, I’m no fan of lifelong guaranteed income for corporate executives or anyone else for that matter. But it is a profound sign of the times to see an icon — a star of sorts — fizzling, fading, burning out.
There is plenty of blame to go around for Chrysler’s demise. You can blame the union leaders who insisted on pay and benefits that were unsustainable and rendered the car giant unable to compete. You can blame the corporate executives who were greedy and shipped jobs outside the U.S. You can likely list a hundred reasons.
But right now, I would like to pay tribute to the father of the Mustang and the minivan, and probably the most famous CEO of all time – Lee Iacocca. May your star shine brightly!


