“They’re on you day and night. Their oversight is just too extreme,” he was quoted as saying by The Associated Press. “That’s why our 10-year loan, we paid it back in three years. We couldn’t stand the government. The bureaucracy kills you. GM’s got more serious problems,” he said. “They’re just big. They’re huge. They’ve got many more problems than Chrysler has with just sheer size.”
Iacocca recently talked about Sergio Marchionne's arrival at the helm of Chrysler, explaining that the Italian will receive his full support as he's confident Fiat's CEO is capable to bring the American bankrupt automaker back in business.
"Welcome to your new family, Mr. Marchionne," Iacocca wrote in a letter published in mid-June.
"As you begin the arduous task of bringing the new company out of bankruptcy, we offer our assistance as advisors in any capacity that you might require. As a first step, we would be willing to meet with the Chrysler human resources team to determine where help is needed and to identify historically top-producing volunteers to assist you," the letter also reads.
Iacocca worked as Chrysler CEO for a period of 13 years, being the main responsible for the American automaker avoiding bankruptcy during the '80s. At that time, the Chrysler quickly repaid a federal loan which helped the company stay out of Chapter 11 protection and continue operations as an independent company. Iacocca finally retired in 1992.
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