Lee Iacocca on Borrow Money, Pay it Back
on Thursday, October 10, 2013Lee Iacocca Money Quotation saying suggesting that others don’t repay their debts, Iacocca states the obvious about how to borrow money responsibly. Lee Iacocca said:
“We at Chrysler borrow money the old-fashioned way. We pay it back” — Lee Iacocca
In this quote, Lee Iacocca is emphasizing Chrysler’s commitment to fiscal responsibility and integrity. As the company’s CEO in the 1980s, Iacocca oversaw Chrysler borrowing government loans to avoid bankruptcy. His statement conveys assurance that, unlike other businesses, Chrysler intends to honor its debt obligations.
By saying it borrows money “the old-fashioned way” and “pays it back,” Iacocca is appealing to traditional values of self-reliance and accountability.
The quote suggests Iacocca wanted to reassure taxpayers and investors that Chrysler viewed the loans as a temporary lifeline, not a long-term entitlement, and would work diligently to return the funds through economic recovery and success.
Birthday: October 15, 1924 – Death: July 2, 2019