Kudos for Chrysler
Remember the gloom about Chrysler three years ago? Remember the skepticism about letting the US government help save the company from bankruptcy? We won't hide the fact that we shared some of that concern. All the more reason for us to join in the cheering now that the automaker has made such an impressive recovery. Chairman Lee Iacocca says Chrysler will soon pay off the remaining $ 800 million of its federally guaranteed loans - seven years early.Skip to next paragraph
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This goes to show what determination, courage, and creative management can accomplish. By closing down unproductive plants, winning cooperation from unions, suppliers, and banks, and launching new lines, Mr. Iacocca has made Chrysler a profitable operation once again. Indeed, Chrysler joins GM and Ford in what now looks to be a new boom in car sales.
Of course optimism should be tempered with awareness of the problems ahead. But a continuing spirit of cooperation can keep the momentum of progress going. As the ebullient Mr. Iacocca commented, ''We learned that people working together can make anything happen.'' That is a lesson for every department of life.