Word: automen
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...young Henry Ford II who decided that his grandfather had got the short end of the Ferguson bargain. He canceled the deal, and set up his own Dearborn Motors Corp. to make and sell tractors and implements (TIME, July 21). When the new Ford tractors came out, automen thought they looked much like Ferguson...
...leaving the nonvoting stock to the tax-free Ford Foundation, the company got around paying the huge inheritance taxes on it. They will have to pay only on the voting stock. Total estate taxes may run as high as $66,000,000. But most automen thought the company had the cash on hand to pay. No valuation was put on the estate. The guesses ran from $200,000,000 to $700,000,000. There was not much doubt that the Ford Foundation, with assets of over $200,000,000. is the wealthiest private charitable organization in the world...
Even with the reductions, Fords would cost slightly more than Chevrolets, except for one Ford which was $2 cheaper. But few automen would dare think of boosting prices now. And the start downward had begun months before most automen had expected, or consumers had hoped...
...usual, all this set other automen to speculating on how much longer K-F's cash would last. The only figure came recently from the always optimistic Joe Frazer. He said that they had $27,000,000 of their roll left...
...increase, when OPA decides on the amount, to the price of their car. Reflecting auto wage increases, the first boost may be 5%. Price of a Ford Tudor Sedan, for example, would be increased by $45. Eventually, as the new wage policy boosts costs all along the line, automen expect the increases to run as high...