Lido

Lido!

—“Lee Iacocca, 1924-2019.”
Not much mention in my October 2019 issue of Hemmings Classic Car magazine. Just a small brief with picture.
Iacocca (Lido Anthony “Lee” Iacocca) was immensely important to automobiling in the ‘60s and ‘70s. He then led Chrysler out of the doldrums in the ‘80s.
Iacocca took risks. He saw a gigantic market in the postwar baby-boom: Boomers desiring performance.
People were buying Corvairs as sporty-cars. Corvair was originally intended to parry Volkswagen.
The formula for a sporty-car already existed. Make Ford’s Falcon long-nose, short-trunk, and viola: the Mustang.
Ford Motor Company had just failed with the Edsel. Henry Ford II (The Deuce), grandson of Old Henry, was leery.
“If that thing fails,” he told Iacocca; “your ass is grass!”
Lido’s Mustang went on to become the most successful marketing play in automobiling.
Thereby skonking General Motors, who had to play catch-up with its Camaro. The first Camaro was 1967; Mustang was introduced in ’64.
Iacocca became the president of the Ford, but clashed with The Deuce. After he was fired he became head-honcho of struggling Chrysler Corporation, on the verge of bankruptcy.
The new K-car was developed — a Ford reject — and Lido saw a market for front-drive minivans, an outgrowth of the K-car. Ford had considered minivans, but didn’t bite.
It took Iacocca to take the risk.
Heavy industry in our nation is no longer willing to take risks. What matters is bottom line keep the income steady.
Leaders like Iacocca, with willingness to take risks, are OUT. Investors are more concerned with steady income; resulting in stifling do-nothing conservatism.
Were it not for Iacocca we might still be driving turkeys. The Mustang is still being made in concept = long hood, short trunk, V8 motor, and relatively small.
Are General Motors, or the Japanese and Germans, capable of such insight? Is even Ford capable? (The Deuce fired Lido.)
Do we have such leaders in our country any more?
In looking for that picture, I did a Google image-search. Hundreds upon hundreds of images; many with “rest-in-peace, Lido.”
I think such leadership died with Lido.