Fords exercise family clout; power rests in stock shares, board seats

Article Abstract:

Ford Motor Corp.'s control by the Ford family represents a clout rarely understood by the people. William Clay "Bill" Ford, who already holds a board seat will become chairman on Jan. 1, 1999, to replace Alex Trotman. Counting William Clay Ford Sr., Bill's father, and his cousin Edsel Ford II, there are three board seats belonging to the family in the corporation. A sizeable chunk of power is attached to the three board seats. The Ford family managed to keep control after the company became public in 1956 through Class B stocks, that earn them 40% of the voting power in the carmaker.

Comment:

Its control by the Ford family represents a clout rarely understood by the people

Securities issued, listed, Ford Motor Co.

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GM plans to restart six more plants

Article Abstract:

General Motors (GM) has plans to resume operations at 10 of the company's 29 assembly facilities by the middle of October 1998. The company's move is geared to circumvent strikes in Flint, MI, by the United Auto Workers. The Flint strikes have resulted in the closures of 25 of GM's 29 assembly facilities. The 10 assembly facilities on the company's list for planned resumption of operations are truck factories in Pontiac, MI, and Oshawa, Ontario, a car factory in Ramos Arizpe, Mexico and Saturn in Spring Hill, TN.

Comment:

Has plans to resume operations at 10 of this co's 29 assembly plants by middle of 10/98

Production management, General Motors Corp.

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