Lee Iacocca Endorses Bill Richardson for President Publisher: Governor Bill Richardson Dateline: Santa Fe, New Mexico Date: 1 November 2007 Subject: American Government Topic: Lee Iacocca

Former Chrysler CEO cites Richardson's leadership, management experience as primary factors behind endorsement

SANTA FE, NM-- New Mexico Governor and Democratic Presidential candidate Bill Richardson today was endorsed by former Chrysler CEO Lee Iacocca. Iacocca also appears in a new online ad on behalf of Governor Richardson's candidacy."Richardson's been a successful Governor," Iacocca said in a statement on his blog. "He's been a successful CEO. He's demonstrated that he knows how to negotiate with foreign leaders and lead on issues like global warming. Unlike others on the stump, he's offering bold plans, not just pandering talk. I like his jobs plan, his healthcare and energy plan, education plan and his plan to get us out of Iraq. I also just plain like the guy.

"While I believe every citizen should vote their own mind and conscience, I'd encourage you to take a long hard look at Bill Richardson for yourself. With his experience, character and vision, I believe he's the President we need right now."

Lee Iacocca is the founder of the Iacocca Foundation for diabetes research. A graduate of Lehigh University with a master's degree from Princeton University, he began his career at Ford Motor Company as an engineer but moved to sales shortly thereafter. Iacocca's innovative approach to the automotive industry led to his becoming President of Ford in 1970.

After a seven-year stint, he moved to Chrysler Corporation and became CEO at a time when the company was on the verge of bankruptcy. By taking short-term loans from the federal government and shifting the company's inventory to more fuel-efficient models, Iacocca had Chrysler turning record profits within six years. Since his retirement as CEO in 1992, Iacocca has been active in philanthropic projects around the world.

Governor Richardson thanked Iacocca for his support and promised to promote economic growth and the development of renewable energy sources as President.

"Lee Iacocca has lived the American dream," Richardson said. "He went to school, worked hard, and, with a bit of luck, brought his creative ideas to fruition. I am glad to have the support of such a legendary problem-solver.

"I want every child in America to have a chance to be the next Lee Iacocca, and education is the first step. I have proposed a comprehensive plan that spans from pre-kindergarten to career training to improve our children's competitiveness in the global economy. Next, we need to grow our economy and provide jobs. We do not need new taxes to keep Social Security viable; increasing the economy's growth rate will do the trick. Finally, to save our planet and decrease our dependence on fossil fuels, we must research and develop renewable energy sources. Global warming is a serious threat to the livability of our planet; America must lead the world by adhering to the Kyoto Protocol and working to improve fuel efficiency standards.

"As President, I will be a leader, even when it is unpopular. America will rejoin the international community. Together, we will take on the problems of the day and defeat them."

To see the new online ad featuring Lee Iacocca, click here.

To see the full text of Iacocca's endorsement of Governor Richardson, click here.