Breaking News. Lee Iacocca, Father of the Mustang and K car dead at age 94

It is with a heavy heart that we announce the death of Lee Iacocca.

Born Lido "Lee" Iacocca on October 15th 1924 in Allentown, Pennsylvania. Iacocca was one of the last giants of the auto industry. He began his career at Ford Motor Company in 1946. In the early 1960s he spearheaded what would become the Ford Mustang. Pushing Henry Ford II to take a risk he was not willing to take after the failure of the Edsel a few years earlier. The gamble paid off for Ford and in 1970, Iacocca was named President. In 1978, Iacocca was fired from Ford and went across town to Chrysler Corporation and was named CEO in 1979.

He found Chrysler in a bad way, losing money at every turn. He would go hat in hand to the United States Government and was able to secure loans to keep Chrysler alive while developing a series of new cars to revolutionize the industry. The Chrysler K platform cars had some of the same Iacocca magic sprinkled on them as the Mustang and they proved to be a hit with American car buyers. Small, economical cars that was just what buyers were looking for. Cars like the Dodge Aries, Chrysler LeBaron and the Dodge Caravan were right sized vehicles. The Caravan would go on to essentially create a market. The Minivan. Iacocca took a big risk going on television in Chrysler ads proclaiming; "If you can find a better car, buy it". It worked. It saved Chrysler from the brink of extinction.

President Ronald Regan asked Iacocca to serve as chairman of the Statue of Liberty-Ellis Island Centennial Commission. With the goal raising money to restore the Statue of Liberty Iacocca took this to heart as the son of Italian immigrants. Iacocca would retire from Chrysler in 1992 after a nearly 5 decade run in Detroit. Though he still was involved in other projects after retirement including electric bicycles and a specially designed Mustang that bore his name. Lee Iacocca was a household name in America and will be deeply missed.