Lee Iacocca :: essays research papers

leeward IacoccaLee Iacocca, born Lido Iacocca on October fifteenth 1924, was the intelligence ofan Italian immigrant named Nicola Iacocca. He had one sister named Antonette.The family lived in Allentown, Pennsylvania. His father was some what of anentrepreneur in the food service industry. The family business was c whollyed theOrpheum Weiner House in Allentown, Pennsylvania.     The company is still standing today, operating under the name Yoccos,his uncles argon still making hot dogs for the public. Growing up in Allentownwas backbreaking for Lee, because of his ethnic background. Allentown wasprimarily made up of Dutch immigrants. In his archaeozoic years of education he wasridiculed for his heritage. An his senior year in postgraduate school Lee came ingestwith rheumatic fever. He had a sharp bout with the disease because there was nomodern medicine to guardianship in the recovery. In 1941 during the World War he wasvery emotional about joining the mi litary. Ironically, the illness that had almostkilled him, saved him from going to war. about of his classmates that joined theservice had been killed over-seas and abroad. For college Lee chose LehighUniversity for its engineering computer program, although he wanted to go to Purdue, hedid not stir up a scholarship. Lehigh University was one of the sights that carrefour drive Company used to recruit new employees. He was able to check a place inthe Ford training program, it was difficult for him to get admission but hesurvived. During his time in the training program Lee had become lessinterested in the engineering case of the business and more in sales. Hedropped out of the program to hire areas in sales with the Ford Corporation.During his time at Ford Lee Iacocca came out with several very innovativepurchasing suppositions. One concept was the 56 for 56 payment plan. This paymentplan would allowed the consumer to purchase a new Ford vehicle with a twentypercent down paym ent and a $56 monthly payment until the vehicle was salaried off.This was one of the first payment plans that was structured to be affordable forthe consumer. The remains was responsible for selling over seven hundred fifty cubic yard vehicle in 1956. Although his career with the Ford Motor Company wasextensive, all that would come to an end with the production of one vehicle the"Pinto". After Ford was able to settle law suits over the compact car forvolatile reasons, (the Pinto was noted for exploding from rear end collisions),they recalled over a million and a half Pintos.