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BUSINESS
November 30, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
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.
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BUSINESS
June 12, 2012 | By Jerry Hirsch
The 50th anniversary of the Ford Mustang is still two years away, but Ford is starting to ramp up the marketing and promotion machine. Ford Motor Co. is saying now is the time to begin restoration projects of the classic pony car, and it wants enthusiasts to know that it has virtually every part -- door handles to entire bodies -- for sale. For example, the automaker put a replacement body for the 1965 Mustang convertible on sale for $15,000 earlier this spring. Ford said it “aggressively supports” restorations and that about 95% of all the parts needed to build a “new” 1964 to 1966 Mustang are available today.
BUSINESS
August 24, 2006 | From Times Wire Services
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.
BUSINESS
July 20, 1990 | From Staff and Wire Reports
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.
NEWS
October 6, 1987 | Associated Press
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.
BUSINESS
May 14, 1999 | DONALD W. NAUSS, TIMES STAFF WRITER
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.
BUSINESS
July 27, 2001 | TERRIL YUE JONES, TIMES STAFF WRITER
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.
BUSINESS
January 10, 2005 | John O'Dell, Times Staff Writer
Stung by environmental groups' complaints that they weren't living up to their promises, General Motors Corp. and Ford Motor Co. said Sunday that they would add a total of six gas-electric-powered hybrid cars and trucks to the market by 2008. Ford made the biggest commitment, promising to add four new models to the hybrid sport utility vehicle it began selling last year. GM said it would add a new type of hybrid system to two large SUVs, the Chevrolet Tahoe and the GMC Yukon, in late 2007.
BUSINESS
July 11, 1990 | RALPH VARTABEDIAN, TIMES STAFF WRITER
Hughes Aircraft and Martin Marietta have submitted final bids for the Ford Aerospace subsidiary of Ford Motor Co., defense industry sources said Tuesday. The bid by Los Angeles-based Hughes Aircraft, a unit of General Motors, was submitted in conjunction with the French aerospace firm Alcatel, the sources said. Alcatel reportedly is seeking to acquire Ford's communications satellite business in Palo Alto and Hughes the remainder of the Newport Beach-based aerospace company.
BUSINESS
December 23, 2005 | From Bloomberg News
Ford Motor Co. employees represented by the United Auto Workers narrowly ratified a healthcare agreement that diverts pay raises to help cut company spending on medical coverage by an estimated $850 million a year. The vote was 51% in favor, the Detroit-based union said. Ford and UAW officials reached the agreement Dec. 9. Active workers will divert 99 cents an hour in future wage increases to a healthcare fund, and retirees will pay as much as $752 a year per family for medical coverage.
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