But ‘Osama bin Laden is dead and General Motors is alive’

After a lifetime of voting for and supporting Democrats — and even declining appointment to the U.S. Senate from a Democratic governor — Lee Iacocca Thursday endorsed Republican Mitt Romney for president.

The blessings of the onetime Chrysler chairman are expected to help Romney in two highly competitive states: Pennsylvania, where the 88-year-old Iacocca was born and raised and is still widely respected, and in Michigan, where Iacocca rose to become a major figure in the auto industry and won international praise for cobbling together the government-backed loans that saved Chrysler in 1980.

via Lee Iacocca endorses Romney for president 

So what is the reason that the former Chrysler CEO Iacocca endorsed Romney and not Obama, Seems Obama doesn’t listen to advice from experts

In a Detroit News 2010 interview, Iacocca praised the Obama administration for its handling of the auto industry.

“Two years ago, it looked like Detroit and Michigan and the car business was in the toilet,” Iacocca said. Now, with all three companies on the upswing, he says, “things have turned out pretty well.”

But he said the Obama auto task force didn’t listen to him. They “called me for my advice, but they didn’t follow it too well,” he said of his chat with top federal officials in the spring of 2009. “Keep your hands off of (the auto companies),” Iacocca said he told task force co-chairman Larry Summers, who was President Obama’s top economic adviser. “You can’t run a business out of Washington, D.C.”

From The Detroit News: Former Chrysler CEO Iacocca endorses Romney