Kirk And Lee's Chrysler Adventure
I would like to comment on "Target: Chrysler" (Cover Story, Apr. 24). Finally, your writers and editors have come to the realization, long understood in the auto industry, that Lee Iacocca has never had Chrysler Corp., its stockholders, or employees as his central interest.
The truth is that Iacocca was not the genius behind the Ford Mustang. His contribution to Ford was the Pinto and Maverick and an attempted coup against Henry Ford II that cost him his job there. At Chrysler, he marketed the company in the 1990s quite successfully, but he had, in the end, to be forced into retirement by the board. It was Robert Eaton and Robert Lutz who managed to turn Chrysler into a world-class auto producer with some of the most innovative products on the road in its lineup.
For the customers, suppliers, and employees of Chrysler, a successful endeavor by Kirk Kerkorian and Iacocca would be a disaster.
Geoffrey K. Wascher
"A greedy grab for Chrysler" (Editorials, May 1) is right on. However, you ignore the central issue.
We have a public market for shares and, as such, investors are allowed to bid, and directors and shareholders are faced with decisions. As you point out, there is a lot of greed involved in this issue, but a free market is the most important issue, and it should be allowed to run its course. Damage is a possibility, but damage to the free-market system by short-cutting the process would be far greater.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap’s Market Value
- U.S. Companies Abandon the NRA as Boycott Call Grows
- China Regulator Seizes Anbang, Chairman Faces Fraud Prosecution
- The Two Words That Will Help Get an Airline Upgrade Over the Phone
- Prime-Age Men May Never Return to U.S. Workforce, Fed Paper Says