1965 Ford Ranchero, on 2040-cars

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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.

Autoblog Podcast #387

Episode #387 of the Autoblog podcast is here, and this week, Dan Roth, Steven Ewing and Michael Zak talk about more General Motors recalls, upgrades and a diesel for the 2015 Ford Focus ST, and the BMW M235i scoring ahead of the Porsche 911 and Chevrolet Corvette Stingray in Consumer Reports testing. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #387: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: GM recalls 8.4M more cars in North America Ford Focus ST upgrades and diesel CR says M235i is better than 911 In the Autoblog Garage: 2014 Jeep Grand Cherokee EcoDiesel 2014 Honda Accord Coupe V6 6MT Long-Term 2015 Subaru WRX 2014 Subaru XV Crosstrek Hybrid Hosts: Dan Roth, Steven Ewing, Michael Zak Runtime: 01:35:26 Rundown: Intro & Garage - 00:00 GM Recalls - 26:26 2015 Ford Focus ST - 41:56 BMW M235i - 50:24 Q&A - 59:16 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Government/Legal Podcasts BMW Ford GM Honda Jeep Subaru Safety Diesel Vehicles Performance bmw m235i

Ford pulls official support from top-level NHRA teams

As the smallest team in the sport, it wasn't really a surprise when Dodge decided to pull out of NASCAR, but Autoweek is reporting that Ford is looking to pull the plug on its professional-level NHRA sponsorships following the 2014 season. With attendance and television ratings down, the article reports that Ford is just backing out of the top series but will remain active in the Sportsman classes of racing, which are geared more toward the grassroots and semi-professional racers.
This means that one of drag racing's biggest names, John Force, will be left looking for new sponsorship after next season. Force, 64, has been with Ford for 17 years, winning 15 championships in that time and winning almost half of all Funny Car events in his Mustang since he started working with Ford in 1997, but after 2014, there could be some big shakeups at John Force Racing.
According to the report, Force would consider is moving over to the Top Fuel dragster series, although he could also move to another manufacturer to remain in the Funny Car series. With Ford on the way out, this leaves just Toyota and Dodge as the remaining active automakers in the highest levels of drag racing.