Iacocca endorses Romney, saying 'America is in deep trouble'
Iacocca: "We just aren't doing the things that would get our country back on the right track."
DETROIT -- Former Chrysler Corp. chairman and CEO Lee Iacocca, saying "America is in deep trouble," is endorsing Republican presidential candidate Mitt Romney.
In an opinion piece published in The Detroit News, Iacocca, 88, said Romney has a plan that "will enable a stronger America."
Iacocca said "America is in deep trouble," and "hope and speeches won't get our people back to work," adding: "We just aren't doing the things that would get our country back on the right track."
In a 2010 interview with the News, Iacocca said he supported the Obama administration's bailouts of General Motors Corp. and Chrysler Corp., which Romney opposed.
A 2008 essay Romney wrote for the New York Times ran under the headline "Let Detroit Go Bankrupt."
"Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course -- the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses," Romney said in the Times essay.
Iacocca's endorsement last week made no mention of the auto bailout.
Iacocca retired from Chrysler in 1992 and lives in California.