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1988 Press Photo Lee Iacocca Chrysler CEO Businessman



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Caption: Chrysler Corp. Chairman Lee Iacocca apologized for a quote in Fortune magazine that critics said cast a bad light on Detroit: "Should I go to Iowa to build a plant and screen the workers to make sure they're young and they haven't been on drugs? Do that kind of screening in Detroit, and you have anybody working for you." Said Iacocca: "I was trying to make the simple and well-known point that companies with a mature, urban work force have a competitive cost disadvantage against the young, carefully screened workers being hired by the transplants located in rural areas.".

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