On May 10, 1980, United States Secretary of the Treasury G. William Miller announces the approval of nearly $1.5 billion dollars in federal loan guarantees for the nearly bankrupt Chrysler Corporation. At the time, it was the largest rescue package ever granted by the U.S. government to an American corporation.
Continue reading “THIS DAY IN HISTORY – Government gives Chrysler $1.5 billion loan – 1980”
“He who joyfully marches to music in rank and file has already earned my contempt. He has been given a large brain by mistake, since for him the spinal cord would fully suffice.”
Albert Einstein
“The welfare state is a bribe to stop us from overthrowing the government.”
Scott Horton
“If the Nuremberg laws were applied, then every post-war American president would have been hanged.”
Noam Chomsky
“One of the things the government can’t do is run anything. The only things our government runs are the post office and the railroads, and both of them are bankrupt.”
Lee Iacocca
Guest Post by Eric Peters
Lee Iacocca just died. And with him, an era.
The era of the car guy executive.
Iacocca wasn’t a transplant from a toothpaste company – and he was an engineer, not a “human resources” manager. He smoked cigars, told ribald stories.
Most of all, Lido knew cars – and the car business. Put more precisely, he knew how to sell cars by making cars people wanted to buy; this is an art less practiced today.
He is most famous for two cars – the Mustang and the K-car (which became the basis for the tsunami-successful Caravan and Voyager minivans of the Reagan Years) though he had a hand in many other cars as well.
