Lee Iacocca - ISBN - 9781416532491

Here is a book from the man who "rescued Chrysler" from the jaws of bankruptcy in the 70's. Unfortunately, none of that tale is altogether true. He went to the government and groveled for 1.2 billion dollars to "save jobs." The only jobs he saved were at Chrysler. Instead, Ford and GM took the hit. They all made money, but only because the government simultaneously restricted imports of European and Japanese cars. Americans had few choices but to "buy American." Thus Iacocca became the poster boy for protectionism as Chrysler was "saved" . . . for a while.

The "K" cars weren't revolutionary. They were poorly engineered and badly built. They were less fuel efficient, less reliable, and more expensive both to buy and run than "foreign cars." And did I mention ugly? So, with a multi-billion governmental salvage loan, wrapped in import restrictions, big auto profited. The loan was repaid before it was due, and Iacocca became an icon. Whoopee!