The siamese twins take a bath

Auto industry executive Lee Iacocca discusses challenges to the industry in this speech to the 4A's (the American Association of Advertising Agencies) 1972 Annual Meeting.

The siamese twins take a bath

Lee IacoccaFord

Seven years ago. I spoke to the Eastern Annual Conference on the subject of “The Four Freedoms of Advertising.” As I remember, I sort of left my listeners with the impression that – shoulder to shoulder – the American auto mobile and advertising industries were about to march triumphantly towards a rising sun of prosperity.

There has been some prosperity all right. But there has been more rising sum than we bargained for. Take a look. Main street's got so many signs reading Toyota, Sony, Yamaha, Nissan, and Honda, it's beginning...

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