At the end of October and into November 1999, Chrysler was much in the news. The Chrysler Corporation USA unit of DaimlerChrysler "Shifts US Managers to Increase Local Control," said the New York Times, while co-chairman Robert Eaton "was a little testy," according to Automotive News when asked about his retirement.

Before there was a DaimlerChrysler and before Mr. Eaton became CEO of Chrysler Corporation, Robert A. Lutz was living Chrysler's later history. His experiences were recounted in an engaging 1998 memoir, Guts (not to be confused with another book about another corporate maverick, Nuts).

Part history ("The Story of Chrysler's Second Turnaround"), part managerial text ("Lutz's Immutable Laws of Business"), part reflection on "The Acquisition" (in the last eight pages of the 220-page book), it's written in a breezy, informal style that's never pedantic.

Factors leading up to Chrysler's last `80s-early `90s crisis include, in his view, an artificially strong Japanese Yen, the unforeseen consequences of the "energy shortage," and an aging and narrow product line, the 1983 advent of the minivan notwithstanding. Key elements of the "Second Turnaround:" the use of platform teams to bring fresh designs to market faster and more efficiently, and the development of more competitive products, as in the LH cars. François Castaing, acquired with American Motors in 1987, is credited with being central to the success of those efforts. Space prohibits going into Lutz's "Seven Laws," but students of management as well as history will find them fascinating and provocative.

The Lutz on display here is generous and mellow. The index lists three topical references to Lee Iacocca: "As emotional leader," "and Neon development," and "Viper, support of." Nothing on "clashes with." Being denied a top position he felt he had earned is obviously painful, but he hides discomfort well.

Readers in search of a full-color portrait of Mr. Lutz are referred back to Ingrassia and White's great 1994 Comeback, beginning on page 258. In Guts, in his own words, Bob Lutz is no less real; a smart, complex, entertaining gentleman, with miles more to go.

• Reviewed by Pete Whittier