I wrote about Milliken & Company the other day- a great American company,  which managed to grow and innovate due in a large part to its CEO.  There are other companies like that.  Corning under the Houghton’s – that managed to convert itself from a glass company- with the ubiquitous Corningware- into a high tech powerhouse that specializes in medical equipment and fibre-optics, among others.  (Thanks for the opportunity, Corning.)  But today, I will discuss another company, one that has been having a race with the mythical phoenix.

Chrysler is that car company that made its name due to  its outstanding engineering.  Walter Chrysler, with three ex-Studebaker engineers, set the tone for innovative, highly engineered products.   Its first offering came about some 4 years after they joined together- with a high compression, six cylinder engine and four wheel hydraulic brakes.  Sounds trite now- but it certainly wasn’t in 1924.

By 1935, the world knew that Chrysler was the engineering company.  By 1951, it offered the ‘Hemi’ – the hemispheric V-8 engine- the name of legends.  The Hemi^® delivered higher compression, lower heat loss, and better combustion- in other words, more horsepower than other V-8’s.  And, then Chrysler followed this up with the first fully automatic transmission.

I admit it.  My family was a Chrysler family.  My uncles, my aunts- everyone had a Chrysler, Plymouth, or Dodge.  My parents had a 1948 DeSoto, a 1954 Plymouth Belvidere, and a 1960 Dodge Dart Phoenix.  (Note- this Phoenix was NOT a small car, but a full-sized behemoth of a vehicle.) My first car would have been a Chrysler, too- but my parents wanted me to buy a flashier car- not the Dodge Dart (by now a mid-sized, rectangular car)- and promised to help me pay for it.  (And, didn’t, by the way.)

My next car- and next car- and my next six cars- and all our corporate vehicles- were all Chryslers from 1975 until 2000.  I also owned a car leasing company, that exclusively offered Chrysler products.

And, you know the story about Lee Iacocca.  The brilliant Ford man who was convinced to join Chrysler and turn it around, when the company floundered, offering big cars when the world wanted small ones (plus the debacle of the Aspen-Volare twins).    Convinced the US Congress to bail out the firm- not with free money, but a loan guarantee.  Loans that Chrysler paid back- in full- seven years ahead of schedule.

Introduced the Omni-Horizon compact cars and the minivan.  The car/truck (minivan) that revolutionized Chrysler and family transportation, killing the station wagon for good.  Chrysler was in great shape during Iacocca’s 14 year reign.  And, Iacocca became a cult hero to America.  One of the first cult leaders of an American company.

In 1998, after being put in play by Kirk Kerkorian (and Iacocca, as well), Daimler (Mercedes Benz) bought Chrysler.  In my opinion, it stripped Chrysler of its engineering innovations, using them for its own vehicles- only to dump the company to Cerberus (one of the “private equity” firms), which it paid to take over the firm in 2007.  Cerberus never put a penny into Chrysler and it forced the company into Chapter 11 bankruptcy two years later.

But, then in 2009, America bailed out Chrysler AND General Motors (GM).  Two car companies that, had they filed bankruptcy, would have led to the bankruptcy of countless other firms- large and small- firms that supplied these companies with parts and services.  And, with their demise, would have probably wiped out Ford, too.  (This is true since these suppliers are critical to Ford, as well.)

But, as anyone in the world knows now, Chrysler and GM are back.  GM is once again the largest car company in the world.  Chrysler turned its first profit since 2005 in 2011.  And, while I was sharing a birthday dinner for the daughter of my friend, we did not watch the Super Bowl.  (I never have.  I don’t mind being the only person in America to have that distinction.)  But, I missed this ad.  One that sets the tone for the next few years.  Narrated by Clint Eastwood (Dirty Harry).

[jwplayer mediaid=”5786″]

Take heart…It is half time.  Where will you be when the game is over?

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