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FCA Statement Regarding the Passing of Lee Iacocca

July 2, 2019 , Auburn Hills, Mich. -

The Company is saddened by the news of Lee Iacocca's passing. He played a historic role in steering Chrysler through crisis and making it a true competitive force. He was one of the great leaders of our company and the auto industry as a whole. He also played a profound and tireless role on the national stage as a business statesman and philanthropist.

Lee gave us a mindset that still drives us today – one that is characterized by hard work, dedication and grit. We are committed to ensuring that Chrysler, now FCA, is such a company, an example of commitment and respect, known for excellence as well as for its contribution to society. His legacy is the resiliency and unshakeable faith in the future that live on in the men and women of FCA who strive every day to live up to the high standards he set.
 

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FCA Illuminates 'Pentastar' Window

FCA Illuminates 'Pentastar' Window To Honor Lee Iacocca
July 3, 2019 , Auburn Hills, Mich. -



Fiat Chrysler Automobiles announced today it has lit the two-story “Pentastar” window atop the Auburn Hills, Michigan, headquarters tower in tribute to the passing of Lee Iacocca, the former Chairman and Chief Executive Officer of Chrysler Corporation. The window will remain lit until midnight, July 10, to coincide with Iacocca’s funeral, which will take place at St. Hugo of the Hills Church in Bloomfield Hills, Michigan.
 

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Lee Iacocca Chrysler LeBaron Commercial (1982)


1983: K-car

"If you can find a better car, buy it." Iacocca utters his trademark line in this commercial for the K-car series, pointing at the camera with a challenging gaze.








 

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Lee Iacocca

“I began my life as the son of immigrants, and I worked my way up to the presidency of the Ford Motor Company,” Iacocca wrote in his 1984 autobiography. “When I finally got there, I was on top of the world. But then fate said to me: ‘Wait. We’re not finished with you. Now you’re going to find out what it feels like to get kicked off Mt. Everest!'”

He was then hired by Chrysler Corp. in 1978 and became the company’s CEO in 1979. He is credited with saving the company from bankruptcy.

Iacocca urged Congress to authorize the Treasury Department to guarantee $1.5 billion in bank loans for Chrysler. Chrysler needed the bailout to survive back to back recessions in the early 1980s. Chrysler repaid the loans early. Treasury made money on the stock it received as part of bailout packages.

With the help of more fuel efficient and competitive products such as the so-called K-cars — which included the Dodge Aries and Plymouth Reliant — Chrysler became strong and profitable again.
SOURCE
 
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