Former chairman Lee Iacocca gave a closed pep rally to Chrysler employees yesterday in Auburn Hills, once again sharing the stage with a K-car, a minivan...and rumors of Chrysler's imminent bankruptcy. While current CEO Bob Nardelli was praising Iacocca as "Chrysler's most dynamic leader" and "a great American," Chrysler spokesman David Elshoff was telling reporters that rumblings about a forthcoming bankruptcy filing by the automaker were "without merit." Presumably addressing the present state of the industry, Iacocca said, "We'll live through it. Don't panic. Things are going to be OK." To fix the current management problems, Iacocca suggested outfitting Nardelli with wire wheel covers and a vinyl landau roof, then sending him back into the boardroom and hoping everyone would think he was a totally new CEO.
Kinja is in read-only mode. We are working to restore service.