Iacocca –An

Autobiography
By Lee Iacocca with William
Novak

By
Group 4
Anuj Surana 11/08
Ashmita Chhatwal 19/08
Deepesh Bhatnagar
29/08
Gautam Malhotra 45/08
Chayanika Dutta 89/08
Dileep 129/08
 Iacocca: An
Autobiography
Iacocca: An Autobiography is
Lee Iacocca's best selling
autobiography, co-authored with
William Novak and originally
published in 1984. Most of the
book is taken up with
reminiscences of Iacocca's
career in the car industry, first
with the Ford Motor Company,
then the Chrysler Corporation.
The hugely successful
autobiography was the best-
 Lee Iacocca
Lido Anthony "Lee" Iacocca is
an American businessman most
commonly known for his revival of the
Chrysler Corporation in the
1980s,serving as President and CEO
from 1978 and additionally as
chairman from 1979, until his
retirement at the end of 1992. he was
a passionate advocate of U.S.
business exports during the 1980s. He
is the author or co-author of several
books, including Iacocca: An
Autobiography, and Where have all
the Leaders Gone?
 Early Years
• Lido Anthony Iacocca was born on
October 15, 1924 to Nicola and Antonietta,
Italian immigrants.
• Displayed his passion for hard work
and managerial skills at a young age.
• Graduated from Lehigh University
• Won the Wallace Memorial Fellowship
and went to Princeton University
 Ford Story
• Joined Ford Motor Company in 1946
• After a brief stint on engineering,
moved to sales and marketing where
his career flourished
• His maverick, street-smart, "thinking on
your feet" approach induced
breakthrough programs like "56 for 56”
which won national acclaim
• Another legendary project was 1964
Mustang
• His use of market research, his
willingness to listen and his readiness
to take risks introducing new products
 In the Upper Echelons
• Promoted to head of the company's
Ford division in 1964.
• was responsible for the Lincoln
Continental Mark III, the Ford Fiesta
and the revival of the Mercury brand
• promoted other ideas which did not
reach the marketplace as Ford
products
• was made President of Ford on
December 10, 1970.
 Estrangement
• By the end of 1975 Lee and Henry
Ford II began to have a personality
conflict
• He was fired from Ford in July of
1978, despite Ford posting a $2
billion profit for the year.
After being fired at Ford, Lee was
aggressively courted by the Chrysler
Corporation, which was on the verge
of going out of business
In 1979 he joined forces with
 The Second Innings- Chrysler
Corporation
• Nov 2,1978
– Chrysler losses worst ever
– Lee Iacocca joins Chrysler
• Total chaos
– No coordination
– Liquidity crunch
– Low morale
– Industrial spying
– Losing consumer loyalty
– Poor quality
– Sales Bank
 The Second Innings- Chrysler
Corporation (Contd.)
• Building the team
– Gerald Greenwald (Finance)
– Steve Miller (Brought by Gerald)
– Hal Sperlich (VP Production planning)

• Overthrow of Shah of Iran

– Soaring oil prices
– Japanese Come in
– Down-sizing
– Selling operations
 Second Innings- Chrysler
Corporation (Contd.)
• Decides to approach Govt.
– Failed talks on Loan procurement
– Failed talks on Sell out to Volkswagen
– Asked Govt. for tax credit
– Govt. Loan Guarantee
• Should Chrysler be saved!
– Mass outrage
– Counter arguments
 Second Innings- Chrysler
Corporation (Contd.)
• Chrysler goes to trial
– Majority was opposing
– Small support from McKinney
– Support started growing
– Maintaining consumer confidence
 Second Innings- Chrysler
Corporation (Contd.)
• 1979
– Chrysler at the verge of bankruptcy
– Concession of $655m
– $1.5bn loan from Loan Guarantee Board
• 1980
– K-cars launched
– A poor start
 Second Innings- Chrysler
Corporation (Contd.)
• 1981
– Loss of $478.5 million
– Proposed merger between Chrysler and
Ford
– Nov 1,down to last 1 million dollar
– Bankruptcy situation again
– Additional $600mn concession
 Second Innings- Chrysler
Corporation (Contd.)
• 1982
– Launched LeBaron convertible
• 1983
– May 15-lost his wife
– July 13-paid back the loan
– Appearance in TV commercials
– Signed 3yr contract with Chrysler
• 1984
– Launched T115 Minivan
 Straight Talk
Promotion of unpopular causes: Saving
lives on roads

- Mandatory seat belts

- Interlocking System

- The Air bags

High cost of labor

Three key areas where management gave

in to union demand and now getting
killed

- Unlimited cost of living allowance

- “Thirty and out”

- Medical Benefits
Making America Great again

Iacocca’s six point program

3.Energy independence by taxing foreign

energy
4.Specific limits to Japan’s Market share in
critical industries
5.Cut in costs and funding mechanism for
federal entitlement programs
6.Need for more American Engineers,
Scientists and Technicians
7.Incentive to increase R&D
8.Long term program to re-build
Thank You