Ford family loses $581 million in 5 1/2 years

Discussion in 'OT Driven' started by GucciGucci, Apr 2, 2007.

  1. GucciGucci

    GucciGucci Active Member

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    The Ford family's $581 million loss

    Family stake in the U.S. auto giant has lost half its value since 2001. Some members of the Ford family are starting to worry about their share, says Fortune's Alex Taylor.

    By Alex Taylor III, Fortune senior editor

    April 2 2007: 3:47 PM EDT

    (Fortune Magazine) -- What would you do if $581 million of your family's fortune had been vaporized in just 5 1/2 years? That's a question that Bill Ford and the other 46 fourth- and fifth-generation members of the Ford auto dynasty are grappling with these days.

    The family's class B stock was valued at $1.14 billion when Bill took over as CEO of Ford Motor (Charts) in 2001. Today the shares are worth less than half that. To make matters worse, the clan's once-lucrative dividend stream has dried up: Payouts that amounted to more than $28 million annually as recently as 2005 have been slashed to zero this year.

    Some of the heirs are concerned about their stake, and they've begun talking with investment banks about their financial options. One of those they've consulted is the boutique strategy firm Perella Weinberg, where co-head Peter Weinberg is the nephew and grandson of two former executives at Goldman Sachs (Charts), Ford Motor's longtime investment bank. So far, the family has yet to retain anyone.

    The move to seek outside investment advice raises some questions, many stemming from the possibility that the descendants of Henry Ford might sell some of their stake to raise money or diversify.

    Will the family, which has controlled the automaker for its entire 103-year history, continue to hold enough special class B stock to maintain its 40 percent control of the company's shareholder votes? And could the family's interests be diverging from those of the company's other shareholders?.................

    MORE:

    http://money.cnn.com/magazines/fort...4/16/8404294/index.htm?postversion=2007040215
     
  2. Monstar

    Monstar OT > Work OT Supporter

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    Sell! Sell! Sell!
     
  3. Kelvin96GSR

    Kelvin96GSR OEM>YOU

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  4. Light Speed

    Light Speed Guest

    in 2009 they will return to profitability, the media just wants to talk about something
     
  5. Kelvin96GSR

    Kelvin96GSR OEM>YOU

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    stop making shitty cars?
     
  6. Baldwizzle

    Baldwizzle New Member

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  7. Patrick Bateman

    Patrick Bateman Active Member

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    Horrible cars. Of course theyre going to fucking lose money.
     
  8. Ingen

    Ingen New Member

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    By 2009, everyone but ford will have returned to profitability.

    Daimler will own ford.
     
  9. maks

    maks Bah! t(-_-t)

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  10. m3 bavaria

    m3 bavaria Come again?

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    Billy likes to live on the Edge!
     
  11. GENERAL LEE

    GENERAL LEE Too school for cool OT Supporter

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    Ford AND Chevy need to drop a few of their shitty brands that aren't going to ever be popular again.
     
  12. The Great Deceiver

    The Great Deceiver 21st Century Schizoid Man

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  13. t8thgr8

    t8thgr8 evry day im hustlin'

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  14. GENERAL LEE

    GENERAL LEE Too school for cool OT Supporter

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  15. Light Speed

    Light Speed Guest

  16. BlazingAltoids

    BlazingAltoids New Member

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    either gm or some of their cars are made in mexico
     
  17. Mr_Spanky

    Mr_Spanky New Member

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    lol owned
     
  18. TehMarko

    TehMarko The Course of Natural Life...

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  19. Got Boost???

    Got Boost??? New Member

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    lol looks like some of the Ford family are gonna have to start driving Toyotas
     
  20. jazzmine

    jazzmine Let the rivers fill, let the hills rejoice

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    1. Fire Bill!
    2. Stop marketing big ass Trucks & SUV's as family vehicles to soccer moms.
    3. Reorg & get non union labor..it's not 1887 anymore.
    4. Focus on better engines, not bigger engines.
     
  21. victimizati0n

    victimizati0n New Member

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    :werd: make them look like a fucking mach 3 razer also
     
  22. Light Speed

    Light Speed Guest

    the fusion and edge are selling like crazy
     
  23. victimizati0n

    victimizati0n New Member

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    yeah that blue circle is pretty old/ugly
     
  24. Got Boost???

    Got Boost??? New Member

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  25. Ingen

    Ingen New Member

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    And the new f250... :barf:
     

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