Ford F-250 Lariott on 2040-cars

Auto blog

Submit your questions for Autoblog Podcast #329 LIVE!

We're set to record Autoblog Podcast #329 tonight, and you can drop us your questions and comments via our Q&A module below. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
Discussion Topics for Autoblog Podcast Episode #329
Subcompact sales slump, yet again

FBI Seizes Computers, Listening Devices From Ford Headquarters

FBI agents searched Ford Motor Company's headquarters in Dearborn, Michigan, this month as part of an investigation into possible corporate espionage. Eight devices, along with documents, computers and financial records, were among the items seized by federal agents on July 11, according to documents obtained by The Detroit News. The FBI searched Leach's home on June 20 and seized more than two dozen items in that search, Reuters reported. Former engineer Sharon Leach, a 17-year Ford veteran of company, was fired last month, according to The News, which first reported the story. She admitted to placing recording devices under conference tables before meetings. She told Ford security she used the recordings to assist in her meeting notes. She couldn't remove the devices after meetings without drawing attention to herself, leaving the devices to record other meetings. Leach has not been charged for any wrongdoing. Former federal prosecutor and Wayne State University law professor Peter Henning told The News that using a search warrant, rather than a subpoena, shows the FBI suspects more employees could be implicated. "If it's an economic espionage case or trade-secrets case, that rarely involves one individual," Henning told The Detroit News. "So the concern is if you send a subpoena and ask for recording devices, those things can be erased." Leach, Ford and the FBI declined to comment on the investigation. Related Gallery AOL Autos Test Drive: 2014 Ford Fiesta ST Auto News Ford espionage corporate

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.