Kirchner course project Essay

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Page 1

James Kirchner, SR.

Financial management-12 Week 12.docx

Everest University

DR. John Halstead

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Abstract

This paper will discuss how Ford Motor Company started the business, with founder

Henry Ford in 1903. The paper will further discuss how Henry Ford departed the

Business and returned a few years later with investors, where he and fellow investor

Alexander Y. Malcomson controlled 51% of the stock in Ford Motor Company. Ford

Continued to grow, but issues existed within the business. Henry Ford was growing old

Making bad business decisions. In 1947 his health was declining, so Ford’s wife and

Daughter In-law demanded Mr. Ford sign the business over to Henry Ford II. In 1956

Ford Motor Company became a publically traded company. Ford expanded into Europe

In 1967 making them the fifth largest automobile manufacturer. In the 1970’s Ford had to

Make changes with oil crisis in the 1970’s, creating fuel-efficient automobiles. By the

Early1990s Ford acquired Jaguar, a British manufacturer of luxury automobiles. To help

Reduce debt and create some cash flow Ford sold some brands. In 2007 Ford sold Jaguar

And Land Rover to Tata Motors Ltd. of India. Moving forward into the future, last this

Paper will discuss how ford is making huge strides to make fuel-efficient automobiles,

Remaining ahead of the market and meeting the customer’s demands.

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Main

Henry Ford Motor Company is the fifth ranked largest automaker in the world.

Ford headquarters currently in Dearborn, Michigan, just outside Detroit, went into

Business manufacturing and selling automobiles in 1903. The Ford Motor Company went

On to become one of the largest and most successful automobile companies worldwide.

Ford Motor Company had many obstacles along the way like, surviving the Great

Depression. The largest family-controlled business worldwide, Ford Motor Company has

Been in the Ford family control for more than110 years. Ford currently encompasses two

Brands: Ford and Lincoln. Ford Motor Company at one time owned five-luxury brand

Automobiles; Volvo, Land Rover, Jaguar, Aston Martin and Mercury. With the problems

That existed over time Ford decided to sell all the luxury brands except Mercury, which

Was discontinued. Henry Ford's initial foray into the automobile manufacturing business

Was the Detroit Automobile Company that was founded in 1899? The company flopped

And in 1901 was reorganized as the Henry Ford Company. By March 1902, after a

Dispute with financial backers, Ford departed the Ford Motor Company with the rights to

His name and 900 dollars. Henry Ford had a meeting with an old friend, coal dealer

Alexander Y. Malcomson. Ford persuaded Malcomson to help finance another

Automobile business. Mr. Malcomson was asked by Ford to front the money for a new

Partnership to begin, "Ford and Malcomson”. Ford and Malcomson went to work right

Away, they designed an automobile and started to order parts. By February 1903, Ford

And Malcomson had spent more money than planned, and the manufacturing business of

John and Horace Dodge, who had made parts for Ford and Malcomson, was asking for

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Payment. Malcomson, busy with his coal business demands, asked his uncle John S.

Gray, the president of the German-American Savings Bank and a good friend to invest

Into his new business venture. Malcomson then decided to incorporate Ford and

Malcomson so additional investors could join the group and additional capital would be

Available to cover expenses. Ford and Malcomson wanted Gray to become a member

Of the business, hoping Gray's name may attract investors. At first Gray was not

Interested, but in time Gray agreed to join the business. On June 16, 1903, the Ford

Motor Company was incorporated, with twelve more investors that owned 1000

Shares. Ford and Malcomson retained 51% of the new company due to their earlier
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