Bloomberg News reports: Ford Motor Needs a Partner as Much or More Than GM: Doron Levin. Maybe not a Kerkorian kinda friend, but someone who can help 'em whip things into shape*. But it looks like Ford is going to have trouble finding suitors because of the way the stock is set up:
The Fords, now led by Chief Executive Officer William Clay Ford Jr., own only about 4 percent of the company' equity, but they control 40 percent of the voting shares through a special Class B stock created in initial public offering of stock in 1956.Wow, gonna be tough to find a buddy based on that info....
The extended family keeps its Class B shares in a trust, votes them as a bloc and has been intent on making sure no non- family investor can gain meaningful power.
We're think Ford is going to go back to being a private company.
*Making little movies about your problems isn't going to help. Making better products is going to help.
DON'T BUY GENERAL MOTORS VEHICLES. THEY DON'T BACK THEIR WARRANTIES.
Posted by: SHERRY | Tuesday, July 18, 2006 at 09:07 PM