Lee Iacocca: The last true leader of Chrysler. After him there were only scumbags: Bob Eaton, Jurgen Schremp, Dr. Z (The nickname says all), and Robert Nardelli, all of them incompetent. Sergio Marchionne seems to have good intentions but the company hasn't recovered under his command.
Lee Iacocca retires and leaves the reins of Chrysler to his successor, Robert Eaton.
Little did he know, Eaton would drive Chrysler to the ground and lead it towards it acquisition by Daimler Benz under false pretenses of an equal partnership.
Then the Chrysler side of DaimlerChrysler would be sold to Cerberus Capital Management and then, eventually, the company would basically have to be bailed out AGAIN, with controlling interest of Chrysler held by the UAW and 30% held by Fiat.
@Watcher3223 Iococca had plenty to do with the sale of Chrysler to Daimler. He was a major shareholder at the time. Without his input the sale would never have happened.
@Watcher3223 Some people may have been mislead, but Iococca is a brilliant man. He was at Ford's helm with the design and creation of the Mustang. He saved Chrysler with the K cars. He also was in charge when Chrysler created the very first Minivan. So, I find it hard to believe he didn't know what was going on. Especially since I read the Wall Street Journal every day, have since the 1970's.
Just because he has had good achievements in the past doesn't mean he's impervious to making mistakes in the present and the future.
Second, he can be deceived just like anyone else. It's a matter of being able to sell something to someone, even if what you end up selling isn't what you said it would be, which would be ironic if true considering Mr. Iacocca's reputation. It'd be harder to convince him with BS, but it's nonetheless possible for Iacocca to be duped.
In summary, Mr. Iacocca could've been LIED to just like anyone else to make sure Daimler got its way.
Considering his actions and devotion to American business, particularly one company he and others under him worked hard to get back into relevance, I don't think Iacocca would've looked kindly at a deal where Daimler made Chrysler a 2nd fiddle to Mercedes-Benz, despite the "merger of equals" talk. That man has too much pride to willingly allow that if he knew that's what was going to happen.
@Watcher3223 Anything is possible. Arabs may one day make peace with Israel, they may even draw Israel's borders on their maps. But if you want to think that Iococca went to the merger table blind and ignorant, that is entirely your choice and opinion. He and his team of lawyers, researchers, etc, etc. went in with their eyes wide open. After the so-called merger, he made a bundle.
"He and his team of lawyers, researchers, etc, etc. went in with their eyes wide open. After the so-called merger, he made a bundle."
Believe it or not, there are businessmen of character who don't do it for the money, and it's usually the old school kind of guys like Mr. Iacocca, who famously paid himself a yearly salary of $1 during his time with Chrysler.
Sure, he may have made a bundle from the sale, but he ultimately did not like the deal and was sharply critical of it.
@Watcher3223 Bob Eaton was a dumbass, sorry to say so. I owned 5 Chrysler cars and can tell you that the ones I still own are the ones from Iacocca's tenure. (1984 Reliant and 93 Voyager, built late 92). I owned a 97 Caravan and even though it never needed major repair, his designs were rust magnets. He cut out covers on the shock towers (something more of my other cars had) probably to save a few bucks...yeah they made money but now look at it...
@Watcher3223 Well I couldn't add the rest of this in my first comment, so I'll share it now: I sold that Caravan recently because it was at 243K and I was notified the transmission was dying. (RIP) Anyhow, I was looking at another Caravan and immediately noticed even with 94K (and being an 02) it was showing the beginnings of the same things my former van had (rust, belt issues, engine). I mean I understand making money and saving money, but really?
I also remember when the merger talks were announced that Chrysler had more money on hand than Daimler did (can't remember the number). How else do you account for it, besides cost-cutting measures and shoddy workmanship. Yes Chrysler may have had its faults under Iacocca but as I said of the 4 Iacocca era Chrysler's I owned they were far better built than the Eaton era one. BTW, I ended up buying a Pontiac Montana same year and far nicer even with higher mileage.
I wasn't disputing Iaccoca's efforts and contributions to Chrysler.
In fact, what I was trying to say was hat Mr. Eaton basically took what Mr. Iaccoca achieved, the revival of the Chrysler Corporation back into a relevant and competitive automaker, and tore it all down.
Of course, others in upper management during Eaton's reign had a hand in Chrysler's demise, such as their suppression of work by Paul Sheridan.
@Watcher3223 I'm not disagreeing, friend; I was actually pointing out just how badly Eaton and his cronies turned out to be (based on the vehicle I owned that was made during his leadership as well as the overall demise of Chrysler Corp). I sort of read that it was down to Bob Eaton and Bob Lutz, and because Iacocca and Lutz were two in the same (personality wise) and hence didn't like each other Iacocca picked Eaton. I don't know what kind of background Eaton had (other than being with GM).
Again, I was not placing the blame on Iaccoca except that he selected Eaton as his successor, although I think Iaccoca had good faith in Eaton's abilities which turned out to be untrue, much to Iaccoca's disappointment.
@Watcher3223 But he really didn't know beans about making a company successful (outside of making billions and billions). Hopefully under Fiat's leadership they become even better than they once were.
@Watcher3223 True, I'm not fond of them being owned by a foreign company (or at least majority owned) but I would say at least there's a car guy running the show as opposed to the old Home Depot CEO who only knew about tools and toilets, not the fundamentals of running an automaker.
Cab forward when cab under. LMAO
TheLizardKing1967 4 months ago
Although the quality was iffy, these were very beautiful cars for the 1990s.
October 22, 2011 2:27 am
whattheheck1000 4 months ago
Funnilly enough this is when car design went down hill
BKMlovesVideos 4 months ago
Lee Iacocca: The last true leader of Chrysler. After him there were only scumbags: Bob Eaton, Jurgen Schremp, Dr. Z (The nickname says all), and Robert Nardelli, all of them incompetent. Sergio Marchionne seems to have good intentions but the company hasn't recovered under his command.
briagadaress 4 months ago 2
Eagle Vision. Dodge Intrepid. Chrysler Concorde. 3 cars. 1 great company. Chrysler Division Forever.
Nuva6 6 months ago
Lee Iacocca retires and leaves the reins of Chrysler to his successor, Robert Eaton.
Little did he know, Eaton would drive Chrysler to the ground and lead it towards it acquisition by Daimler Benz under false pretenses of an equal partnership.
Then the Chrysler side of DaimlerChrysler would be sold to Cerberus Capital Management and then, eventually, the company would basically have to be bailed out AGAIN, with controlling interest of Chrysler held by the UAW and 30% held by Fiat.
Watcher3223 10 months ago
@Watcher3223 Iococca had plenty to do with the sale of Chrysler to Daimler. He was a major shareholder at the time. Without his input the sale would never have happened.
itsmegp46 6 months ago
@itsmegp46
"Iococca had plenty to do with the sale of Chrysler to Daimler. He was a major shareholder at the time"
That doesn't necessarily mean Iacocca knew the actual motives behind Daimler's move.
Indeed, Iacocca may have been just as misled by Daimler as other Chrysler shareholders over their intentions with the company.
Watcher3223 6 months ago
@Watcher3223 Some people may have been mislead, but Iococca is a brilliant man. He was at Ford's helm with the design and creation of the Mustang. He saved Chrysler with the K cars. He also was in charge when Chrysler created the very first Minivan. So, I find it hard to believe he didn't know what was going on. Especially since I read the Wall Street Journal every day, have since the 1970's.
itsmegp46 6 months ago
@itsmegp46
It's possible.
Just because he has had good achievements in the past doesn't mean he's impervious to making mistakes in the present and the future.
Second, he can be deceived just like anyone else. It's a matter of being able to sell something to someone, even if what you end up selling isn't what you said it would be, which would be ironic if true considering Mr. Iacocca's reputation. It'd be harder to convince him with BS, but it's nonetheless possible for Iacocca to be duped.
Watcher3223 6 months ago
In summary, Mr. Iacocca could've been LIED to just like anyone else to make sure Daimler got its way.
Considering his actions and devotion to American business, particularly one company he and others under him worked hard to get back into relevance, I don't think Iacocca would've looked kindly at a deal where Daimler made Chrysler a 2nd fiddle to Mercedes-Benz, despite the "merger of equals" talk. That man has too much pride to willingly allow that if he knew that's what was going to happen.
Watcher3223 6 months ago
@Watcher3223 Anything is possible. Arabs may one day make peace with Israel, they may even draw Israel's borders on their maps. But if you want to think that Iococca went to the merger table blind and ignorant, that is entirely your choice and opinion. He and his team of lawyers, researchers, etc, etc. went in with their eyes wide open. After the so-called merger, he made a bundle.
itsmegp46 6 months ago
@itsmegp46 "Anything is possible. Arabs may one day make peace with Israel, they may even draw Israel's borders on their maps."
Don't be ridiculous. Appeals to the extreme does not refute the real possibility of a person falling for a bad deal.
"But if you want to think that Iococca went to the merger table blind and ignorant"
I never said that he went into the deal "blind and ignorant" but saying that it is possible that he was misled despite his best efforts.
Watcher3223 6 months ago
@Watcher3223 I just don't believe he did.
itsmegp46 6 months ago
@itsmegp46
Very well. We agree to disagree.
Watcher3223 6 months ago
This has been flagged as spam show
@itsmegp46
"He and his team of lawyers, researchers, etc, etc. went in with their eyes wide open. After the so-called merger, he made a bundle."
Believe it or not, there are businessmen of character who don't do it for the money, and it's usually the old school kind of guys like Mr. Iacocca, who famously paid himself a yearly salary of $1 during his time with Chrysler.
Sure, he may have made a bundle from the sale, but he ultimately did not like the deal and was sharply critical of it.
Watcher3223 6 months ago
@Watcher3223 Bob Eaton was a dumbass, sorry to say so. I owned 5 Chrysler cars and can tell you that the ones I still own are the ones from Iacocca's tenure. (1984 Reliant and 93 Voyager, built late 92). I owned a 97 Caravan and even though it never needed major repair, his designs were rust magnets. He cut out covers on the shock towers (something more of my other cars had) probably to save a few bucks...yeah they made money but now look at it...
andrewps84 5 months ago
@andrewps84 "Bob Eaton was a dumbass, sorry to say so."
Don't be sorry. For one thing, I agree! Mr. Eaton was either an idiot or a bastard ... maybe both.
Of course, most problems are rarely caused by the actions of one, but Mr. Eaton certainly had to have had his hand in Chrysler's demise post Iaccoca.
Watcher3223 5 months ago
@Watcher3223 Well I couldn't add the rest of this in my first comment, so I'll share it now: I sold that Caravan recently because it was at 243K and I was notified the transmission was dying. (RIP) Anyhow, I was looking at another Caravan and immediately noticed even with 94K (and being an 02) it was showing the beginnings of the same things my former van had (rust, belt issues, engine). I mean I understand making money and saving money, but really?
andrewps84 5 months ago
I also remember when the merger talks were announced that Chrysler had more money on hand than Daimler did (can't remember the number). How else do you account for it, besides cost-cutting measures and shoddy workmanship. Yes Chrysler may have had its faults under Iacocca but as I said of the 4 Iacocca era Chrysler's I owned they were far better built than the Eaton era one. BTW, I ended up buying a Pontiac Montana same year and far nicer even with higher mileage.
andrewps84 5 months ago
@andrewps84
I wasn't disputing Iaccoca's efforts and contributions to Chrysler.
In fact, what I was trying to say was hat Mr. Eaton basically took what Mr. Iaccoca achieved, the revival of the Chrysler Corporation back into a relevant and competitive automaker, and tore it all down.
Of course, others in upper management during Eaton's reign had a hand in Chrysler's demise, such as their suppression of work by Paul Sheridan.
Watcher3223 5 months ago
@Watcher3223 I'm not disagreeing, friend; I was actually pointing out just how badly Eaton and his cronies turned out to be (based on the vehicle I owned that was made during his leadership as well as the overall demise of Chrysler Corp). I sort of read that it was down to Bob Eaton and Bob Lutz, and because Iacocca and Lutz were two in the same (personality wise) and hence didn't like each other Iacocca picked Eaton. I don't know what kind of background Eaton had (other than being with GM).
andrewps84 5 months ago
@andrewps84
Again, I was not placing the blame on Iaccoca except that he selected Eaton as his successor, although I think Iaccoca had good faith in Eaton's abilities which turned out to be untrue, much to Iaccoca's disappointment.
Watcher3223 5 months ago
@Watcher3223 But he really didn't know beans about making a company successful (outside of making billions and billions). Hopefully under Fiat's leadership they become even better than they once were.
andrewps84 5 months ago
@andrewps84
Perhaps, but I do have concerns over the fact that Chrysler isn't truly an American automaker yet again.
First, being owned by a German automaker and now having the majority of its shares basically given to an Italian automaker.
Watcher3223 5 months ago
@Watcher3223 True, I'm not fond of them being owned by a foreign company (or at least majority owned) but I would say at least there's a car guy running the show as opposed to the old Home Depot CEO who only knew about tools and toilets, not the fundamentals of running an automaker.
andrewps84 5 months ago
@andrewps84
Or owned by a capital management group.
Good point.
Watcher3223 5 months ago
@andrewps84
Oh, and in reference to Bob Nardelli, in addition to the fact that his previous post was at Home Depot, he ran that company into the ground as well.
Watcher3223 5 months ago