A black and white photograph of Lee A. Iacocca below white text on a black background.
In 1983 and 1984, a small contingent of Americans supported a presidential bid from Republican Lee A. Iacocca. Iacocca was the CEO, Chairman, and President of the Chrysler Corporations, an automobile company, at the time. Supporters believed Iacocca's ability to bring Chrysler back from the brink of bankruptcy with the assistance of guaranteed government loans would help the sluggish American economy. Automobile dealers from across America contributed finances for a campaign, however at the urging of his mother and friends, Iacocca decided against running. President Ronald Reagan was reelected in the 1984 election and Reagan offered a cabinet position to Iacocca. He refused the appointment but accepted Reagan's offer as chairperson of the Statue of Liberty-Ellis Island Foundation.
Iacocca was born and raised in Allentown, Pennsylvania. He received his undergraduate degree from Lehigh University, and attended graduate school at Princeton University.