Autoblog

Lee Iacocca is a smart man. Father of both the Mustang and the minivan, the well revered auto exec was Chrysler's savior in the '80s. As such, the current Chrysler LLC will be holding a rally to honor its former patriarch on June 26th at its headquarters in Auburn Hills, MI. The rally will be attended by employees and Iacocca himself (no word on whether his BFF Snoop Dogg will make an appearance). Today's Chrysler, of course, bears little resemblance to the strong automaker helmed by Iacocca in the '80s. During the '90s, Chrysler followed its Big 3 brothers down a path of big pickups and SUVs for which now they are all paying dearly, and Iacocca made no bones about his feelings toward Daimler after the German automaker cut and ran away from their "merger of equals", saying in an interview with BusinessWeek last year that "Daimler screwed Chrysler royally." We can't help but wonder how the 84-year-old would run his old automaker today if given the reigns, but chances are he wouldn't want them if they were offered.

[Source: The Detroit News, Photo by Frederick M. Brown/Getty]

There aren't that many people in the world who have a stronger emotional connection to Chrysler Corp. than Lee Iacocca, father of the minivan and savior for Chrysler during the early '80s. In an article featured in BusinessWeek, Iacocca reveals his feelings and thoughts about Daimler AG's sale of Chrysler to Cerberus Capital Managment, a private equity firm.

In no uncertain terms, Iacocca comes right out and says, "Daimler screwed Chrysler royally." He argues that Chrysler was healthy, even powerful, before the merger, and has been left half dead by Daimler, which retreats back across the Atlantic to Germany as we speak (our eloquent prose, not his). Nevertheless, Chrysler's ex-CEO is optimistic about his old employer's fate, and makes a case for Cerberus being exactly the right kind of private equity firm to buy Chrysler.

Thanks for the tip, Alison!

[Source: BusinessWeek]

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It's been a while since we mentioned Lee Iacocca. But he is in the news once again and we feel obliged to pass along the latest chapter in this automotive icon's professional life. While one of his former employers was busy announcing a record $12 billion loss, Lee was meeting with the Nevada Gaming Commission (NGC). It seems Lido is getting into the gambling game.

Apparently Iacocca owns 12% of Full House Resorts, Inc., and Full House was just approved by the NGC to purchase Stockman's Casino in Fallon, Nevada. Iacocca told the Detroit Free Press that running a casino is similar to running an auto company. "Set your priorities, get good people around you and take care of the customers."

And Lee should know, too. Besides being the former President of Ford, CEO of Chrysler, head of the Statue of Liberty-Ellis Island Foundation, and author, he's been an actor, appearing in Miami Vice and some of the funniest fish-out-of-water ads we've ever seen with Snoop Dogg.

[Source: Freep]

So what would you consider the biggest automotive flop of 2006? The Chrysler Sebring? McDonald's Hummer Happy Meals? Schumacher leaving F1 without a ring for every finger? Well, Automotive News thinks it was Chrysler's refusal to face the music and scale back production. Even when faced with a huge loss and plummeting demand for SUVs and trucks.

They remind us that Lee Iacocca had been cautioning Chrysler about creating a sales bank 25 years ago. Not only did they ignore the advice, but Chrysler's management team kept building as many of the vehicles as they could. In the process, the company racked up a $1.48 billion loss in the third quarter of 2006.

More info post jump.

[Source: Automotive News, sub req]

Retired Chrysler chairman (and Snoop Dogg homey) Lee Iacocca will be releasing a book in approximately one year, tentatively titled "Where Have All the Leaders Gone?". It's said to cover several topics, among them the state of the American auto industry and the threat that the US manufacturing economy faces from China and India.

Iacocca is said to be writing the book because he "flunked retirement" and "there is too much to be done to sit on the sidelines."  The octogenarian has not been quiet since leaving Chrysler in 1992, having attempted a $20B buyout of the automaker in 1995 (with Kirk Kerkorian and current GM board member Jerry York), along with campaigning for George W. Bush in 2000 and John Kerry in 2004.

[Source: Houston Chronicle]

We've been too busy throwing down new posts to attend Spike TV's second annual AutoRox awards, but apparently that didn't stop the cable network from going on with the show at Fremont Experience in Las Vegas. Hosted by rapper/actor Ice Cube and featuring a variety of performances and celebrities, the show is America's only nationwide televised automobile awards ceremony.  Chevrolet's Corvette Z06 came away the big winner, netting the night's top honor for "Car of the Year," as well as taking home the "Best Sports Car" and "Deal of the Year" awards.

Other big winners included former Chrysler Chairman and CEO Lee Iacocca, who took home the "Icon Award". Sadly, Snoop Dogg was apparently unable to deliver the award to his golfing buddy, so 24's Kiefer Sutherland stepped in on his behalf.

Other winners include:

• BEST TRUCK - Honda Ridgeline
• BEST LUXURY CAR - Audi A8
• BEST SUV - Land Rover Range Rover Sport
• HOTTEST EXOTIC - Bugatti Veyron
• BEST TUNER - Mitsubishi Lancer Evolution IX
• BEST CONCEPT CAR - Chevrolet Camaro
• BEST MUSCLE CAR (viewers' choice) - Dodge Charger SRT8

Catch the delayed broadcast on Tuesday, April 18th on Spike TV, when it airs from 10pm-11:30pm Eastern.

[Source: Spike TV via PRNewswire.com]

 

In the ongoing battle for street cred among younger buyers, Detroit continues to turn to its gritty urban landscapes for marketing inspiration.

DaimlerChrysler's connection with the hip-hop world has been well-documented, resulting in everything from Snoop Dogg swingin' clubs with Lee Iacocca to 50-Cent jumping the line on the Charger. Other companies have been quick to follow suit, General Motors tapping Ludacris to pitch the Solstice, and with the Blue Oval set to trot out Kanye West to promote the Lincoln's Zephyr in the rapper's unfortunately-named new video, 'Drive Slow' (what rhymes with MKZ, Kanye?).

The marketing shift is being viewed as part of a larger phenomenon, wherein companies are seeking out niche groups instead of putting out mass-market product message-- a development that mimics the auto industry's changing production models.

[Source: The Detroit News]