Ford Motor Company
Category : Articles
Ford Motor Company was founded by Henry Ford in Michigan in June 16, 1903. The first Ford, a Model A, was being sold in Detroit. According to Ford Motor Company (2011) ???At the height of Henry Fords fame and business power, his company operated or sold in more than 30 countries around the world, including such far-reaching places as Indonesia, China, Brazil and Egypt, as well as much of Europe.??? In 1917, he and his son, Edsel, founded the Fordson (“Ford” and his “son”) division to manufacture tractors that, like the Model T, would be lightweight and inexpensive. (Ford Motor Company, 2011).
In 1929, Ford founded The Edison Institute, a combination school and museum to allow for education through the studying of artifacts and cultural history, not just books. Henry Ford retired (for the first time) in 1919, when he handed over leadership of his company to his son, Edsel. Also In 1919, Henry, along with his wife and Edsel, acquired the stock of the companys minority shareholders for the astonishing (for 1919) sum of $105,820,894 and became the sole owners of Ford Motor Company??”truly making it a family-owned business for the first time.(Ford Motor Company, 2011).
The stock first traded on the New York Stock Exchange on March 7, 1956. The stock “split” six times since it was issued. The splits and their payment dates, which appear on the actual certificates, were May 31, 1962: 2 for 1, May 24, 1977: 5 for 4, December 1, 1983: 3 for 2, June 2, 1986: 3 for 2, January 12, 1988: 2 for 1, and July 5, 1994: 2 for 1.”Old” Ford Motor Company common stock was replaced by “new” Ford common stock, based on the Value Enhancement Plan recapitalization of the company which occurred on August 2, 2000.(Ford Motor Company, 2011).