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Jim

Lee Iacocca

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Lee Iacocca, the brilliant designer and creator of the Ford Mustang which made its debut in April of 1964 at the Ford pavilion at the  New York World's Fair, died this week.

 Mr. Iacocca also rescued Chrysler from bankruptcy in the 1980s with the introduction of the K car designs and the mini van.  Mr. Iacocca was held in high regard throughout the automotive industry and by tens of millions of Americans.  When Chrysler was provided with a billion dollar loan by the US Congress, in 1979, when Mr. Iacocca became chairman of that nearly bankrupt company, he lead Chrysler to profitability in a little over three years with the new K car model platforms and vastly improved mileage that gave similar imports remarkable competition.  Every penny of the loan was repaid by 1984 plus almost  $350 million more in interest.  

An excellent business leader, a creative designer and an honorable executive and man, Mr. Iacocca deserves mention and remembrance.

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Also, I remember his efforts to raise money for the Statue of Liberty restoration.

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Well said.  Mr. Iacocca often said that his work restoring the Statue of Liberty was his proudest achievement.  

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