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Lee Iacocca, auto executive who saved Chrysler from bankruptcy, dies at 94

Updated : July 03, 2019 09:41 AM IST

Iacocca died Tuesday at his home in Bel-Air, California of complications from Parkinson's disease, his daughter Lia Iacocca Assad told the Washington Post.
During a nearly five-decade career in Detroit that began in 1946 at Ford Motor Co, the proud son of Italian immigrants made the covers of Time, Newsweek and the New York Times Sunday Magazine in stories portraying him as the avatar of the American Auto Age.
Iacocca won a place in business history when he pulled Chrysler, now part of Fiat Chrysler, from the brink of collapse in 1980, rallying support in US Congress for $1.2 billion in federally guaranteed loans and persuading suppliers, dealers and union workers to make sacrifices. He cut his salary to $1 a year.
Lee Iacocca, auto executive who saved Chrysler from bankruptcy, dies at 94

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