The text traces Lee Iacocca's career, from his early days at Ford where he led development of the Mustang, to becoming CEO of Chrysler and leading its turnaround in the late 1970s and early 1980s with government loan guarantees. Core themes are strong leadership, bringing together stakeholders, having a plan, and reinvigorating American industry. Iacocca implemented seat belts at Chrysler, made tough choices on layoffs and salary cuts, introduced successful new models like the minivan, and paid back government loans early. The text concludes by arguing America needs coordinated industrial policy focused on competitiveness, energy independence, and rebuilding infrastructure.
as a teenager including hauling hotel guests' packages and staffing a fruit market on weekends. Sharing his father's passion for cars, Lee decided by age fifteen that his future was in the auto industry. Nicola also owned movie theaters known for creative promotions like free admission for the ten kids with the dirtiest faces. The Iacoccas prospered until losing nearly everything in the Depression. But Nicola had multiple business interests and avoided debt, allowing the family to survive. Among his frequent sayings were "Accept some sorrow in life to better know happiness," "Write down what you borrow to remember repaying it," "This too shall pass," "Why walk when you can run?" and "Outsmart, rather than outfight, those bigger than you." Nicola died of leukemia in 1973.
book.moreChapters
