Iacocca Sees Weak Quarter for Big 3:...

Iacocca Sees Weak Quarter for Big 3: Chrysler Corp. Chairman Lee A. Iacocca said he expects the auto industry to report weak results in the third quarter. “It would be weak for the industry as a whole,” Iacocca said at Chrysler’s relaunch of the luxury, four-door Imperial. He declined to be specific but said the entire auto industry will be stretched if Congress imposes stricter emission standards for cars similar to the requirements in California. Several analysts have said Detroit’s Big Three may report operating losses in their core North American auto businesses in the quarter for the first time since 1982. However, Chrysler, Ford Motor Co. and General Motors Corp. are expected to report an overall profit due to earnings from other businesses.