Word: breeching
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Dates: during 1950-1959
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Young Henry brought in Ernest R. Breech, a crack production man who had run three General Motors subsidiaries, and made him executive vice president. When he joined Ford, said Breech, "there was no second team. We had nothing but top bosses and workers. We had no real research. Even the new [postwar] engine was no good; the Rouge was obsolete, and the company had lost $55 million in the first half of '46. About all we had that was any 'good was the name of Ford...
...Solutions. Together, Breech and HF II performed radical surgery. They shucked off all Old Henry Ford's peripheral enterprises, such as his Brazilian rubber plantations, his money-losing deal to make Harry Ferguson's tractors,* his experimental farms. They had another big problem: the inheritance taxes on the $208 million estates of Henry and Edsel. Luckily, Old Henry himself left $28 million in cash, and the family got the rest by loans from the company and sales of property. They kept control in the family by keeping the 172,645 shares of voting stock (now held in equal...
After reorganizing the company from top to bottom, Ford and Breech began to plow back profits and cash on hand into modernization and expansion...
...never given a hoot about either ("Give them any color they want as long as it's black"). Edsel, who had a flair for design, brought out the Lincoln Continental in 1939. But he made little progress in getting the company to set up its own design department. Breech and young Henry made that a first order of business. They also hired George Walker, a noted independent Detroit designer...
Largely because of the years of missionary pacification by Brazil's Indian Protective Service, whose motto is "Die if you must, but never kill." the Chavantes have given no trouble. In fact, recently a party of breech-clouted braves joined with the roadbuilders in a fiesta so festive that their chief wound up taking a flight in a foundation airplane. The chief circled ecstatically over his village of dome-shaped huts, roaring with laughter and shouting greetings to his people below...