Iacocca shows support for Detroit’s Big 3 CEOs

Former Chrysler CEO Lee Iacocca is showing his support not only for the Big 3 but the CEO’s of all three automakers. Iacocca said he does not agree with the Congress setting conditions that ask the management to step down as a condition for getting federal loans.

“You don’t change coaches in the middle of a game, especially when things are so volatile,” Iacocca said in a statement. “The industry has been brutalized by a totally unpredictable series of events over which it had little control and that is beating it unmercifully into the ground.”

Iacocca said he agrees the company’s made mistakes but the people running them are the only once with the experience and knowledge of how their business works.

“They’re by far the best shot we have for success. I say give them their marching orders and then let them march. They’re the right people to get the job done,” he said.

Source: Detroit News