The other bailout: 1979 Chrysler & Lee Iaccoca.
06-02-2009, 01:13 PM
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The other bailout: 1979 Chrysler & Lee Iaccoca.
http://www.bloggingstocks.com/2008/1...d-temporarily/
Here are five reasons why Chrysler came back:
* Lee Iaccoca. Chrysler had available a replacement CEO, Iaccoca, whose reputation for success convinced everyone that he could fix the company;
* Shared sacrifice. All of Chrysler stakeholders -- including unions, shareholders, banks, and dealers -- were willing to sacrifice for the survival of the company;
* New car that met market needs. Chrysler was ready to launch a new front-wheel drive fuel-efficient car that consumers would be wiling to buy;
* Realistic plan. Chrysler had a well thought-out operating plan to survive the crisis; and
* Bank loans. Banks agreed to provide financing to Chrysler if the government would guarantee the loans.
* Lee Iaccoca. Chrysler had available a replacement CEO, Iaccoca, whose reputation for success convinced everyone that he could fix the company;
* Shared sacrifice. All of Chrysler stakeholders -- including unions, shareholders, banks, and dealers -- were willing to sacrifice for the survival of the company;
* New car that met market needs. Chrysler was ready to launch a new front-wheel drive fuel-efficient car that consumers would be wiling to buy;
* Realistic plan. Chrysler had a well thought-out operating plan to survive the crisis; and
* Bank loans. Banks agreed to provide financing to Chrysler if the government would guarantee the loans.
06-02-2009, 06:56 PM
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