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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.

Road tripping in a Ford Fusion Energi PHEV

Following my earlier Chevy Cruze Diesel trip and recent press-launch drives of Volvo XC90 and Hyundai Sonata plug-in hybrids, an opportunity arose for another road trip. I wanted to do it in a plug-in hybrid, primarily to learn whether its higher price vs. gas-powered and conventional hybrid versions of the same vehicle – is justified by its capability to operate as an EV, burning no fuel at all with its engine off, at least for short distances. I've been skeptical of plug-in parallel hybrids. As I've written before, I've been skeptical of plug-in parallel hybrids because they are generally good for very limited electric miles (typically 10-15, depending on driving style, terrain, and temperature) at fairly leisurely speeds before their engines kick in. But I've recently spent time in two new examples – the 2016 Volvo XC90 T8 and the 2016 Hyundai Sonata PHEV – that offer more EV range, mostly because they tote bigger (thus more expensive) batteries. Both promise 24-25 miles of battery-only range, and the latter can recharge on the fly. Unfortunately, neither was yet available for my July road trip, nor was a Honda or Toyota plug-in, but Ford anted up a Fusion Energi borrowed from its Marketing department. "The state-of-the-art lithium-ion battery and electric motor combined with the gasoline engine offers maximum efficiency," says Ford about it. "This strategy offers the best of both worlds, providing the 2016 Ford Fusion Energi the capability to be driven as an electric vehicle for short trips and as a hybrid for longer trips." I've been a fan of Ford's Fusion since the first-generation debuted a decade back, and the handsome Gen II version launched for 2013 has been Detroit's best answer to the Honda Accord/Toyota Camry/Nissan Altima Japanese juggernaut in the popular US mid-size sedan segment. Beyond its leading-man looks, it offers an array of highly-functional features (some exclusive), a choice of three gas engines (a base 2.5-liter four and 1.6-liter and 2.0-liter direct-injected, turbocharged EcoBoost fours) and both parallel and plug-in parallel hybrid versions. The regular hybrid originally boasted 47 mpg before Ford adjusted it to be more realistic. The gas engines drive through a 6-speed automatic transmission (a 6-speed manual is standard with the 1.6-liter EcoBoost), the hybrids through an electric continuously variable transaxle (eCVT), and all-wheel drive is available with the 2.0-liter EcoBoost four.

Xcar gets the scoop on Ford's strategy for the GT at Le Mans in 2016

Ford's plan to return to the 24 Hours of Le Mans in 2016 with the latest GT might have been one of the worst kept secrets in motorsports in recently memory. Even before the road car debuted at the 2015 Detroit Auto Show, rumors were flying about the Blue Oval's strategy. The wait for the official announcement just before this year's race was certainly a long one, but it was probably worthwhile just to see the competition version's spectacular looks. Xcar recently got the chance to interview Ford about the company's objectives for the new racer's development. Both the GT racing and street programs are meant as ways to advance cutting-edge technology and potentially let it trickle down to less-expensive models in the future. This is especially the case when it comes to finding ways to make carbon fiber cheaper and better. Of course, the supercar is also a showcase of what Ford can do competitively, and apparently there are patent-pending suspension parts the company isn't even talking about yet. Ford would love to score a class victory at Le Mans next year, and is pretty clear here and in its earlier promo video that it sees Ferrari as a major rival in the race. While that makes sense historically, the cross-town competitors at Corvette could be an even bigger challenger. That squad has a more recent legacy of success in the 24-hour challenge, including a victory in the GTE-Pro class this year. Related Video: