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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.

Introducing the 1965 Ford Mustang

Put on your space suits and diving bell helmets, for it's time to step into a time capsule. The 50th anniversary of a historic model, like, say, the Porsche 911 this year, is certain to bring flights of nostalgia. This historical trip with the 1965 Mustang, though - preliminary hype for next year's anniversary, we know - is a swell museum exhibit for anyone who enjoys bygone days of the automobile.
Lee Iaccoca gave a speech to motoring journalists on April 1, 1964 at the New York World's Fair to introduce a sporty car for younger drivers. His opening line: "Good morning, ladies and gentlemen. Welcome to one of the proudest moments of our lives." The company was so excited by what it had made that the Mustang was Ford's first "International Press Introduction," being introduced to some 2,000 journos around the world on the same day in the US and 11 European cities. Even through its difficult points, no one at the time could have known how well the Mustang would acquit that pride.
After the intro, the press drove Mustangs 750 miles from New York to Dearborn, MI, reading press kits that touted features like the "vertical, three-sectional taillights/turn signals," "170" six-cylinder engine with 101 horsepower and the available Cruise-O-Matic transmission.

Ford starts GoDrive carsharing service in London

Automaker-supported carsharing services like BMW's DriveNow and Daimler's Car2Go are already well established in many cities around the world. Ford is no stranger to this business, either, with collaborations with companies like ZipCar in the US and Flinkster in Germany. Now, The Blue Oval is taking a new step by establishing its own dedicated offering in London called GoDrive. The operation is actually the expansion of an earlier 100-person pilot program and allows the automaker to test out ideas on a small scale. GoDrive is now growing to support 2,000 people in London, and they can share 50 vehicles that are scattered around 20 locations in the city. The fleet is split between Focus Electric models and Fiesta 1.0 EcoBoosts. One of the major selling points for the service is that users can take one-way trips through the city and have a guaranteed parking spot at their destination. Like any high-tech service today, much of the user interface for GoDrive works through a smartphone app that allows users to book cars and pay for trips. The driving is covered under an all-inclusive, pay-by-the-minute model, which includes London's congestion charge, and the first five minutes are free. To entice new users, the company is currently offering a free membership and 20 pounds ($31) in credit to sign up. GoDrive's small size also lets it gather and adjust to customer feedback quickly. For example, users reportedly enjoy getting to try out a vehicle with the latest infotainment and safety features. The company is already working on different pricing plans and parking options for the future, as well. The video below shows a little more the service in action. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. FORD BRINGS DYNAMIC CAR-SHARING EXPERIMENT TO LONDON; FIRST SERVICE TO OFFER ONE-WAY TRIPS WITH GUARANTEED PARKING Ford will offer Londoners flexible, practical, and affordable GoDrive car-sharing service; invites 2,000 members to register free for service that offers 50 cars across 20 locations GoDrive is unique in offering one-way trips with guaranteed parking. Pay-as-you-go approach with pay-per-minute pricing covers all fees. Drivers book and access cars via smartphone app Zero-emission Focus Electric makes up half of the GoDrive fleet; fuel-efficient Fiesta 1.0-litre EcoBoost available.