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Ford family keeps special voting rights

Ford Motor Company has a dual-class stock structure of Class A and Class B shares. The roughly three billion Class A shares are for the general public like you and me, while the roughly 71 million Class B shares are all owned by the Ford family. Each Class A share gets the shareholder one vote, each Class B share is worth 16 votes, the result being that Common Stock holders control about 60 percent of the company while the Ford family controls 40 percent even though it holds far fewer shares. The only way that could ever change would be if the Fords sell their Class B shares, but even so, Class B shares revert to Class A when sold outside the family, so they'd have to sell a whole bunch of them.
A contingent of Class A shareholders think the dual-class system is unfair, and for the past few years a vote's been held during the annual shareholders meeting to end it. It has failed every time, as it just did again during the meeting held this week. A smidge over 33 percent voted to end the dual system, outvoted by the 67 percent who are happy with the way Ford is going - unsurprising in view of a corporate turnaround that will be part of business-class curricula for years to come.
On the sidelines, Ford elected Ellen R. Marram to the post of independent director, the first woman to hold the job. The former Tropicana CEO and 20-year Ford board member replaces retiring board member Irvine Hockaday who helped bring Alan Mulally to the CEO position.

Amid Mulally rumors, Bill Ford praises company's deep bench

Bill Ford went on the offensive to combat the rumors that CEO Alan Mulally would leave Dearborn for Steve Ballmer's vacated position leading Microsoft, adding that even if the 68-year-old, former Boeing exec were to depart, the Ford executive team is in a good place.
"I'm happy [Mulally] is going to stick around. But we also feel really good about where we are in terms of succession," Ford told Bloomberg TV, according to Automotive News. Rumors first cropped up about Mulally leaving Ford when AllThingsD speculated that he was in the running, early last month. In that same report, which you can read here, Ford's board of directors reportedly okayed the CEO stepping down ahead of his planned retirement in 2014.
That opened the floodgates, culminating in a report from a few days ago that the rumors over Ballmer's successor just might be true. The story is especially troubling, as Ford hasn't had Mulally under contract, according to AN. "He's here as long as he and I would like it to happen," Ford said, "We're also cognizant of training the next generation and getting them ready to go as well."

2016 Ford Mustang gets new packages, trim and hood-vent turn signals

Ford just introduced the 2015 Mustang last year, but the iconic pony car is already getting a few minor updates for the 2016 model year consisting primarily of new options packages and trim. For starters, Ford is bringing back the turn indicators integrated into the hood vents, first launched on the Mustang nearly half a century ago, which will now be fitted as standard on the Mustang GT. The feature was apparently requested by customers, and signals to the driver when the turning indicator is on. Premium models also get the new Sync 3 system. The Blue Oval automaker is also offering racing stripes in black or silver on the Mustang GT and Mustang EcoBoost, along with a black roof option. There's a new Pony Package available for the EcoBoost Premium model as well, with 19-inch polished alloys, special grille, side stripe and chrome window surround. Customers ordering a Mustang GT fastback or convertible can opt for the Black Accent Package with murdered-out wheels, spoiler, taillamp trim and logos. There's a California Special Package being offered on the Mustang GT Premium with such touches as 19-inch black machined alloys, hood and side stripes, black spoiler, mirror and hood vents, dark taillamp accents, a front splitter, special grille and gas cap, strut tower brace and an interior decked out in black leather with suede inserts and red stitching. Finally, Ford is offering a Performance Package for the Mustang GT convertible with the manual transmission, similar to the kit available for the fastback but catered to the drop-top. The package includes upgraded suspension, Brembo brakes, 19-inch black-painted alloys, a larger radiator, strut tower brace and K-brace, retuned electronics, a Torsen limited slip differential, machine-turned aluminum instrument panel, a new splitter and the removal of the rear spoiler.