Auto Bailout

Iacocca on Chrysler's Bankruptcy


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Lee Iacocca Dan Callister/Getty Images

Asked for comment on Chrysler's bankruptcy, former Chairman Anthony "Lee" Iacocca sent the following e-mail:

"This is a sad day for me. It pains me to see my old company, which has meant so much to America, on the ropes. But Chrysler has been in trouble before, and we got through it, and I believe they can do it again.

"If they're smart, they'll bring together a consortium of workers, plant managers and dealers to come up with real solutions. These are the folks on the front lines, and they're the key to survival. Let's face it, if your car breaks down, you're not going to take it to the White House to get fixed.…If your company breaks down, you've got to go to the experts on the ground, not the bureaucrats.

"Every day I talk to dealers and managers, who are passionate and full of ideas. No one wants Chrysler to survive more than they do. So I'd say to the Obama Administration: Don't leave them out. Put their passion and ideas to work."


Steve Ballmer, Power Forward
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