Word: forde
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Dates: during 1980-1989
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Giant corporations today are seldom headed by someone whose name is on the building, since hardly anybody has a moniker like Exxon, Primerica or Unisys. But at Ford, Detroit's fastest moving automaker, the fourth generation of a family dynasty is moving up. Last week the company elevated two young executives to its board of directors: Edsel B. Ford II, 39, and William Clay Ford Jr., 30, both great-grandsons of the founder. Edsel II is general sales manager of the Lincoln-Mercury division, and William Jr. heads Ford's operations in Switzerland...
...cousins, who deny any rivalry, will have to struggle if they want the top job. The last Ford to hold it, Henry II, who stepped down in 1980, said that the company would have "no crown princes." Since Henry's death last September, his younger brother William Sr., 62, has been the only family voice on the board...
...Jessica A. Dorman '88 Shari Rudavsky '88 Seth A. Gittell '91 Jonathan M. Moses '88 Benjamin R. Miller '89 Laurie M. Grossman '89 Michael D. Nolan '88 Features Editor: Shari Rudavsky '88 Sports Editor: Geoffrey H. Simon '88 Business Editor: Robert Q. McManus '88 Copy Editor: Liam T. A. Ford...
Kenwood expects to sell the first DAT machine in the U.S. next month. It will be a combination radio and tape player for cars. Ford has announced that similar units, made by Sony, will be in some Lincoln Continentals by June. While those two machines will only play tapes, other models that record music as well have been promised for the summer by Harman/Kardon, Marantz and Casio...
Although last year was tough for all American automakers, GM fared especially poorly. While GM car sales in the U.S. fell some 21%, from 4.7 million in 1986 to 3.7 million in 1987, Ford sales declined only 1%, to 2 million cars. In just one year, GM's U.S. market share shrank from 41% to 37%, while Ford's grew from 18% to 20%. Moreover, by earning more on each car, Ford continued to rack up bigger profits than its much larger rival. Through the first nine months of 1987, GM earned $2.7 billion on revenues of $75.4 billion...