Iacocca: Get Gov't Out
Eighty-four-year-old former Chrysler boss Lee Iacocca
told reporters last week the company should repay its government loans as quickly as possible.
Iacocca cited the government's capacity for ‘extreme oversight' as the main reason for getting out from under as soon as possible. And he should know - in the early 1990s he used $1 billion in government loans to rescue Chrysler from bankcuptcy. He paid that 10-year loan back in three.
The guy's a legend - he got fired by Henry Ford in 1978, steered Chrysler through the Arab Oil Embargo, survived bankruptcy, launched the whole ‘if you can find a better car, buy it' campaign, and now he's promoting the Mustang. At 84...


