Word: edsels
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...Ford stock he held-55%-was disposed of in two ways: his 94,955 shares of voting stock which control the company were left to his four grandchildren, Henry, Benson, Josephine and William, and their mother, Mrs. Edsel Ford. (Together they already hold 41.5%; Mrs Henry Ford holds 3.5%.) The 1,804,140 shares of nonvoting stock were left to the Ford Foundation, a charitable organization set up in 1936. (It had already been left the nonvoting stock of the late Edsel Ford...
...Edsel Ford now holds 12% of the voting stock-and will be trustee of the shares left to William and Josephine until they are 25-she holds technical control of the company. But in a few years, her children will hold control, thanks to their 84.5% of voting stock...
...Ancient. When World War II came he was an old man. He was as tough as his Tin Lizzie. Theoretically he had retired and handed the business over to his only, beloved son, Edsel. But he was still the real boss, striding along the great assembly lines, sitting, birdlike and domineering, among the empire's reverent executives. Once again he cried out against the stupidity of war. He was an America Firster. But when the Japs attacked Pearl Harbor, he turned his Rouge plant into an arsenal. He put his company on a seven-day week...
...before the war ended, Edsel died and a spirit died in the old man. He was 80. One day, trotting in his usual fashion from his car to the Administration Building, he tripped and fell face down on the grass. Thereafter he walked. Edsel's son, Henry II, came home from the Navy to run the empire. An attack of acute indigestion almost finished the old man. He puttered around his Georgia plantation and Greenfield Village and the museum...
Then, the 71,650 shares of voting stock were split equally among Mrs. Edsel Ford and. the four children. Until Billy and Josephine, now married to Walter Buhl Ford II (no blood relation), reach the age of 25, Mrs. Edsel Ford is trustee for their shares. The 1,350,000 shares of non-voting stock were turned over to the Ford Foundation, a tax-free charity (Ford Hospital, Greenfield Village, etc.), which the family organized ten years ago. Thus the inheritance tax was comparatively light, although the exact sum is still in dispute between the Ford family and the state...