September 30, 1987 |
The last Ford to have run Ford Motor Co. is now dead. Today, the world's second-largest auto company, once passed down the generations like a Ford family heirloom, is in the hands of a cadre of professional managers with no familial or historical ties to the legendary Henry Ford I. Ford Chairman Donald E. Petersen, 60, who succeeded Philip Caldwell as chairman in 1985, is widely hailed as the architect of Ford Motor's recovery in the mid-1980s and is firmly in control.
September 29, 1987 |
Henry Ford II, who took over his grandfather's foundering company at President Franklin D. Roosevelt's urging in 1945 and over 37 years restored Ford Motor Co. to profitability, died today after a battle with pneumonia. He was 70. Ford had been admitted to Henry Ford Hospital on Sept. 12 for treatment of pneumonia, but his condition had deteriorated as he developed heart and kidney problems. He had become ill while in Europe.
November 6, 1987 |
Another bidder has entered serious negotiations to acquire Financial Corp. of America, a spokesman for the Federal Home Loan Bank Board said Thursday. The new entry thus becomes a rival to the current leading contender, First Nationwide Bank in San Francisco, a subsidiary of Ford Motor Co. First Nationwide officials have publicly confirmed their interest in buying Irvine-based FCA, whose operating subsidiary is American Savings & Loan, the nation's biggest S&L.
November 30, 1990 |
The Defense Logistics Agency said Ford Motor Co. has failed to supply necessary information about an overfunded pension fund at the car maker's former aerospace division in Newport Beach. When New York-based Loral Corp. acquired Ford Aerospace earlier this year, Loral allowed Ford Motor to keep about $100 million of surplus funds in Ford Aerospace's employee pension program.
August 24, 2006 |
Shares of Ford Motor Co. surged 4.6% on Wednesday after a news report that Chief Executive William Clay Ford Jr. had approached Carlos Ghosn, CEO of Nissan and Renault, about forming a global alliance. The report in the Wall Street Journal cited "a person wellpositioned to know." It was part of a commentary in the paper's opinion section by Paul Ingrassia, vice president for news strategy of Journal publisher Dow Jones & Co., and Joseph B. White, the paper's Detroit bureau chief.
July 20, 1990 |
Ford Motor Co. said Thursday that it has received three offers for its Ford Aerospace Corp. defense subsidiary, including one from Hughes Aircraft Co. in El Segundo. Ford spokesman Tom Rhoades in Dearborn, Mich., declined to disclose the bid prices, but sources have estimated the going price may be about $600 million. The company said it expects to select the final bidder by next week. Rhoades said one of the three bids was a joint offer from Hughes Aircraft Co. in El Segundo and Alcatel Co.
October 6, 1987 |
The will of Henry Ford II, who reportedly shredded personal papers to protect his privacy, doesn't include a single dollar sign indicating the size of his immense estate, it was reported today. Few specific details are included in the seven-page will filed Monday in a Palm Beach County probate court, according to the Palm Beach Post and the Detroit News.
May 14, 1999 |
Presiding over the Ford Motor Co. annual meeting for the first time, Chairman William Clay Ford Jr. on Thursday outlined a vision of creating the leading automotive consumer concern, one that is both highly profitable as well as socially and environmentally responsible. The shareholders gathering, held at the refurbished Detroit Opera House, was tinged with historical significance.
July 27, 2001 |
After months of bad news and billions of dollars spent on the Firestone tire crisis, Ford Motor Co. realigned the relationship of its two top executives Thursday to put more power in the hands of family scion William Clay Ford Jr. The move confirms longtime rumors of a management shift that would more deeply involve the 44-year-old chairman, a great-grandson of company founder Henry Ford, in corporate decisions that have been dominated by 53-year-old President and Chief Executive Jacques Nasser.