I was more or less too young to realize what Iacocca did for Chrylser at the time, didn't care really. I can respect him for what he did, but the company in general didn't care, it was just another example of why the US Taxpayers should let all of Detroit fail during the multiple times each one was bailed out in some form or fashion. I suspect we're about to see round 14 or 19 of that situation again, really soon.
Those big automakers in Detroit have no intent on making it by themselves, they've been bailed out so many times, not many pay attention anymore. Look at GM and Chrysler/Fiat/whoever they are called today. While there are some people like myself that vowed to never buy another GM product ever again in their life after 2008, very few saw the reason why we did. But look at human behavior in the streets today in the US and you don't have to think about it long....
To get back on topic, I'm not sure the current crop of CEOs in this country could figure their way out of a paper bag, but I don't think most of the population could, either. Again, look at human behavior in the streets today. I think the university systems have concentrated too much on a path of political indoctrination instead of wholesome education and learning, especially learning things the hard way. Your CEOs today are just like any celebrity or star of a sport, etc. - they are heavily financed since birth, they are sent to the ultimate boarding schools, they are in "business schools" in middle school, they are sent to high-grade business schools at the time of College, then sent to Ivy-League universities to get multiple graduate degrees.
IOW, they are groomed since birth, they know hardly anything outside an elite lifestyle, they have zero experience figuring things out during their 20's, 30's and 40's. Heck, most of them are some over-educated, do-nothing CEO or other C-suite officer by 35. Tell me how many second or third jobs they've worked so they could pay the power bill, buy groceries and save for a down payment by 35?