Iacocca Gets New Wheels

The former Chrysler chairman wants to be back in business-- on an electric bike

Lee Iacocca, father of the Mustang and the minivan, the impresario who engineered one of the most audacious corporate comebacks in capitalist history, left Detroit with a historic legacy. But no sooner had the Chrysler chairman stepped down in 1992 than the wheels began to fall off. His third marriage disintegrated. His 1995 partnering with Las Vegas financier Kirk Kerkorian in an abortive bid to take over Chrysler ended in a fiasco of lawsuits, not to mention accusations of treachery and avarice by his former colleagues.

The John Wayne of the automobile business was down and out in, of all...

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