Human Events reports that Lee Iacocca, the iconic former CEO of Chrysler, has endorsed Mitt Romney for president.
Mr. Iaccoca engineered the turnaround of Chrysler after its near-bankruptcy in 1980. His new, fuel efficient “K-cars” captured the attention of consumers and provided the catalyst for the company’s revival. The federal government, then controlled by Democrats, assisted the effort with a controversial loan package. So Mr. Iacocca is not your stereotypical country club Republican, being a son of immigrants who rose to the top. And he has a track record of supporting Democrats:
He backed George W. Bush for president in 2000, but then backed John Kerry in 2004. Four years ago, he endorsed then-Gov. Bill Richardson of New Mexico for the Democratic nomination for president. In 1991, following the death of Sen. John Heinz (R-Ill.), Pennsylvania’s then-Democratic Gov. Bob Casey Sr. publicly voiced a desire to appoint Keystone State son Iacocca to fill the vacancy in the Senate. But Iacocca declined, and the appointment went to Democrat Harris Wofford.
He also supported the Obama auto industry bailout. But apparently the ongoing economic malaise under the president is too much for this results-oriented CEO. The endorsement should give Romney a boost in the battleground states of Michigan and Iacocca’s native Pennsylvania. (Fans of Bill Joel’s song classic about hard times, “Allentown”, may enjoy this factoid: Mr. Iacocca is a graduate of Allentown High School.)
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