Lee Iacocca, the son of a poor immigrant, has become one of America's most respected business men. From lowly beginnings and through many adversities, he worked his way up to President of the Chrysler Corporation.
Just out of college, he began working for the Ford Motor Company as a student engineer. On the assembly line, he learned every aspect of how automobiles were put together.
Although he was awkward and bashful, Lee was promoted to a salesman. It was there that he met a man who took him under his wings and taught Iacocca how to be the best salesman he could.
In 1956 sales were slumping at Ford. Iacocca suggested offering a new 1956 Ford for a modest down payment, followed by three years of $56 payments. The "56 for 56" idea took off like a rocket.
After 10 long years of hard work, Lee had become an “overnight success.”
Soon he was promoted to work as manager for Ford's national truck marketing, then another promotion to head the company's car marketing.
Not stopping there, Iacocca set out to develop his own style of car. In 1964 Ford introduced the Mustang. Ford dealerships were literally mobbed with people wanting to buy the car and a new yearly sales record was established.
In 1970, Lee was promoted to the ultimate position, president of Ford Motor Company, second in command under Henry Ford II.
Never wanting to stop at success, he kept coming up with innovative and cost cutting ideas.
But, trouble lay ahead.
Ford was in control, like it or not, and he liked to exercise that control whatever the consequences might be. Ford began to worry about this “son of an immigrant” taking over the family business.
It was salami slicing time at Ford. And Henry did it one slice at a time. Finally, Lee learned through a friend that he too had gotten the axe.
Under the terms of resignation, Iaccoca was given an office until he found a job. It turned out to be in an obscure warehouse. A little cubicle with a small desk, one telephone, and cracked linoleum on the floor.
For Iaccoca it was like being sent to Siberia.
It wasn't long before he was offered the presidency of Chrysler Corporation. Not exactly a cushy position. Chrysler was in trouble, big trouble. The same day Chrysler announced the hiring of Lee Iaccoca, they also announced their worst deficit in history.
The internal affairs at Chrysler were a mess. This was a company that was going to the dogs, and going there fast.
Rolling up his shirt sleeves, Lee went to work trying to bring some manner of cohesion to the upper level management. Then he hired a top notch public relations firm to get back customer confidence.
Things still didn't get any better. To make matters worse, the world economy in 1979 was falling apart. Gas prices were doubling and the fuel efficient import cars were taking over domestic sales.
Chrysler got hit hard.
Iaccoca's company was going under and he knew it. There was only one course for him to take. He went to the US Government seeking loans for a bail out. Congress was not impressed, but Lee had done his homework. He argued that if Chrysler collapsed it would cost the country $2.75 billion dollars alone in unemployment benefits.
His speech before the US Congress was so convincing that Iacocca and Chrysler got their loans.
In his fight for survival, Lee cut his own salary to $1 a year. Everybody in management got a salary cut except for the secretaries, who Iaccoca believed deserved every cent they made.
Next he took on the union and said: “Look boys, I've got a shotgun to your head. I've got thousands of jobs at seventeen bucks an hour. I've got no jobs open at twenty.”
The company began an all-American ad campaign to promote their new fuel efficient K-car. The car soon began to sell like hot cakes.
His persistence and "never give up" attitude and his willingness to do whatever measures it took to ensure the viability of the company worked. Chrysler paid back the loans a full seven years ahead of their due date.
Lee Iacocca had become a roaring success.
His thoughts are:
Cybersurfers may soon get their own patron saint. Reuters News reported that Pope John Paul is considering naming St. Isidore of Seville the patron saint of Internet users and computer programmers.
St. Isidore lived in the seventh century and was believed to have written the world's first encyclopedia and the Entymologies.
The Vatican went online in 1996. Their site is powered by 3 computers named after archangels - Raphael, Michael, and Gabriel.
Zig Ziglar, motivational speaker, writer, and personal coach, says this. “The Ten Commandments are a back-to-basics guide for moral and ethical behavior.”
He says, “If we followed the Ten Commandments, we could eliminate the few million other laws that are on our books.”
Online auctioneer eBay, based in San Jose, California, started out as a Web hobby for Pierre Omidyar. He was a techie whose girl friend collected Pex dispensers and was having trouble finding other collectors online.
His idea was to have a place where common and hard to find items could be found by people looking for these items.
Since then, eBay has grown to become one of the Internet's most profitable and largest businesses. Soon to become even bigger.
The Wall Street Journal reported that eBay is in advanced discussions to acquire the French online auction leader iBazar Group SA for a mere 100 million euros ($92 million) in stock.
Last month eBay agreed to acquire a majority stake in the dominant Korean Internet auctioneer, Internet Auction Co.
Ebay already operates sites in the United States, Australia, and Japan. World wide eBay has 22 million registered users.
“Always bear in mind that our own resolution to succeed is
more important than any other thing.”
Back in 1969 a small group of computer whizzes was hired by the US Department of Defense to work on a secret project called the ARPAnet. Their work yielded the first e-mail message, the first encryption technology, the first router, and is the forerunner of what we now call the Internet.
Right now the Internet is big. Really, really big. At last count, the Google Search Engine indexed a staggering 1.3 billion pages. According to Franck Jeannin, owner of LinkGuard, there are over 100 billion links on the Web.
His idea is to develop a gigantic map of these links. He figures it will take a 40 terabyte hard drive to store all the imformation. That's 2,000 times the size of a typical 20 gigabyte hard drive.
He's already signed for Dell Computer to build him the network needed to manage the map.
In other computer related news, IBM unveiled the fastest server hard drive on the market. Their Ultrastar 36Z15 operates at 15,000 revolutions per minute.
IBM's rival, Seagate Technology, says it will soon release a new hard drive that is even faster. Seagate holds a 44% market share for server drives, IBM holds about 25%.
The average adult Internet user will spend 23.5 months of his or her life span online. 23.5 million million US households have made online purchases.
If facts like this interest you, then you need to visit:
Click on "e-trends" and you will be taken to a virtual storehouse of statistics.
As always, enjoy your life and your day, it's God's great gift to you.
We certainly wish to thank and welcome all new subscribers for joining us and hope that your reading will not only be fun, but also an adventure.
Every reader is encouraged to send a copy of this e-zine to any person they feel would be interested in reading it. It is always a FREE publication to any one wishing to subscribe.
Please feel free to write me with any comments or questions you may have regarding any part of this publication or the Prosperity course.
To subscribe: send a blank email with PROSPERITY in the subject or go to our web site. http://www.choosetoprosper.com
Subscriber's email addresses are held in strictest confidence, and will not be made available to any party.
If you have received this mailing by mistake, please forgive us and send an email to the above un-subscribe address.