Ep 11. Lee Iacocca

CNBC Titans is a documentary series that delves into the lives of some of the most influential people in the business world. The eleventh episode of season one, titled "Lee Iacocca," focuses on the life and career of one of the most renowned businessmen in American history.

Lee Iacocca was born in 1924 in Allentown, Pennsylvania. He grew up during the Great Depression and developed a strong work ethic from an early age. He attended Lehigh University, where he earned a degree in industrial engineering. After graduation, he landed a job at Ford Motor Company, where he quickly made a name for himself.

Iacocca's rise through the ranks at Ford was meteoric. He was promoted to the position of Vice President of Ford's car and truck group at the age of just 35. In this role, he helped develop some of Ford's most successful models, including the Mustang and the Escort.

However, Iacocca's success at Ford was not without controversy. In the late 1960s, he clashed with Henry Ford II, the company's CEO, over the direction of the company. Iacocca believed that Ford needed to invest heavily in small cars to compete with imports from Japan and Europe, while Ford II favored a different approach. Ultimately, the two men's differences proved irreconcilable, and Iacocca was fired from Ford in 1978.

However, Iacocca's time at Ford was just the beginning. In 1979, he became the CEO of Chrysler Corporation, which was at the time on the verge of bankruptcy. Iacocca immediately embarked on a bold restructuring plan that involved cutting costs, closing factories, and laying off thousands of workers.

The plan was controversial, and many people doubted that Chrysler could be saved. However, Iacocca's leadership and determination proved to be instrumental in turning the company around. He also played a key role in securing a government bailout for the company, which helped stabilize its finances and pave the way for its eventual recovery.

Over the course of his career, Iacocca became known for his charismatic personality, his innovative ideas, and his ability to turn failing companies into success stories. He also became a household name through his appearances in Chrysler's popular advertising campaigns, in which he humorously touted the company's products and extolled their virtues.

Overall, CNBC Titans' "Lee Iacocca" episode offers a fascinating look at the life and career of a true business titan. Through interviews with Iacocca's friends, family members, and colleagues, as well as archival footage and photos, viewers are given a comprehensive overview of Iacocca's achievements and struggles. The episode paints a vivid portrait of a man who was not afraid to take risks, challenge the status quo, and push himself to new heights of success.