Have you ever wondered how automobile businesses make so much money or how they have been so successful for such a long time? Alfred P. Sloan and Lee Iacocca were a part of this impact on the automobile industry for two of the biggest companies in the world. Alfred P. Sloan was born in 1875 and became a part of the Hyatt Rolling Bearing Company where he became the president and general manager in 1899. After 17 years, the company merged with the United Motors Corporation that soon became General Motors Corporation. Lee Iacocca was born in 1924 and began working for Ford in 1946. He was Vice President in a few operations in the corporation until he was fired in 1978. By 1981 he was hired by Chrysler in desperation that he could help them from
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Alfred was born on May 23, 1875 in New Haven, Connecticut to Alfred Sloan Sr. and Katherine Sloan. His family invested in a few businesses, including a coffee shop, as his father was a machinist and an investor. Katherine was a stay at home mother with Alfred and his five siblings. Lee Iacocca was born October 15, 1924 in Allentown, Pennsylvania to Italian immigrants, Nicola Iacocca and Antonietta Perotta. His family owned a restaurant, car rental agency and a theatre. Lee learned his love for automobiles and business from his father who had the same interests. Nicola, however, hung out behind the scenes and took care of Lee and helped out in the family restaurant (“Alfred P.”; “Lee” Childhood). Alfred and Lee had more differences when it came to school. Alfred went to public schools in Brooklyn as a child. He then went to Brooklyn Polytechnic Institute and Massachusetts Institute of Technology for college where he got an education in electrical engineering and academics. Lee attended Allentown High School and went to Lehigh University from where he studied industrial engineering. Iacocca also won Wallace Memorial Fellowship to attend Princeton University where he took politics and plastics (“Alfred P.”; “Lee” …show more content…
Under Alfred’s supervision, General Motors became one of the biggest automobile corporations in the world. In 1931, he sponsored the world’s first University based program “The Sloan Fellows” which started at MIT. Sloan also has an award names after him, the Alfred P. Sloan Prize. This is given by his foundation for science/technology every year to students. Lee designed the Ford Mustang, Escort and Mercury Marquis, models that are still being produced today. Iacocca saved Chrysler from bankruptcy with the designs of the Dodge Aries, Plymouth Reliant in 1981 and the Dodge Caravan and Plymouth Voyager in 1983. He also directed Chrysler to acquire AMC, bringing Jeep into the company. The Lee Iacocca Award is given every year for Dedication to Excellence in Perpetuating an American Automotive Tradition (“Alfred P.”;”Lee”
Alfred was born on May 23, 1875 in New Haven, Connecticut to Alfred Sloan Sr. and Katherine Sloan. His family invested in a few businesses, including a coffee shop, as his father was a machinist and an investor. Katherine was a stay at home mother with Alfred and his five siblings. Lee Iacocca was born October 15, 1924 in Allentown, Pennsylvania to Italian immigrants, Nicola Iacocca and Antonietta Perotta. His family owned a restaurant, car rental agency and a theatre. Lee learned his love for automobiles and business from his father who had the same interests. Nicola, however, hung out behind the scenes and took care of Lee and helped out in the family restaurant (“Alfred P.”; “Lee” Childhood). Alfred and Lee had more differences when it came to school. Alfred went to public schools in Brooklyn as a child. He then went to Brooklyn Polytechnic Institute and Massachusetts Institute of Technology for college where he got an education in electrical engineering and academics. Lee attended Allentown High School and went to Lehigh University from where he studied industrial engineering. Iacocca also won Wallace Memorial Fellowship to attend Princeton University where he took politics and plastics (“Alfred P.”; “Lee” …show more content…
Under Alfred’s supervision, General Motors became one of the biggest automobile corporations in the world. In 1931, he sponsored the world’s first University based program “The Sloan Fellows” which started at MIT. Sloan also has an award names after him, the Alfred P. Sloan Prize. This is given by his foundation for science/technology every year to students. Lee designed the Ford Mustang, Escort and Mercury Marquis, models that are still being produced today. Iacocca saved Chrysler from bankruptcy with the designs of the Dodge Aries, Plymouth Reliant in 1981 and the Dodge Caravan and Plymouth Voyager in 1983. He also directed Chrysler to acquire AMC, bringing Jeep into the company. The Lee Iacocca Award is given every year for Dedication to Excellence in Perpetuating an American Automotive Tradition (“Alfred P.”;”Lee”