Word: edsel
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Dates: during 1950-1959
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FORD'S NEW EDSEL will swing into production about July 1, go on sale in September. Car will blanket entire medium-price field with 18 models, including two-and four-door sedans, hardtops, station wagons, convertibles. Like competitor Buick, Edsel will sell in four different price classes. Names of Edsel models, from lowest-priced to highest: Ranger, Pacer, Corsair, Citation...
...Ford does not now compete with General Motors (Buick, Oldsmobile) and Chrysler (De Soto). Ford has budgeted $250 million to bring the six-model line into production, will spend up to $150 million more to build a 1,400-dealer sales and service force, may call the car the "Edsel...
...civic center (see above) was approaching reality. On a 76-acre site along the Detroit River, the first buildings of the $100 million project, a 20-story City-County Building and a Veterans Memorial Building, were open to the public. A 2,800-seat auditorium named for Henry and Edsel Ford and a 700-car underground garage were almost finished, and a convention hall and exhibits building, seating 14.000 people, was about to be started...
Although the Ford family will become minority stockholders in their own company, they will be well rewarded for the loss of privacy. The Ford stock held by each of Henry Ford's surviving heirs (Mrs. Edsel Ford, Henry Ford II, Benson, William and Josephine Ford) will now have a market value of at least $388 million if, as Wall Street expects, the shares go on sale for around $60 apiece...
Ford hopes that the new Continental will become as famed as the original, which was first styled by Edsel Ford and custom-built as a personal car. On a trip to Florida Edsel got so many requests for a car like his that he put the Continental into production in 1940. Though Ford collected dividends in prestige for the 5,322 Continentals it built, it lost money on every car. When the company skidded into the red after World War II, it stopped making them. Three years ago, after Ford moved solidly back in the black, Benson Ford proposed that...