How Ford Started

Ford Motor Company

HISTORY - Henry Ford was an engineer from Detroit, Michigan who had an idea. By 1902, Ford had attempted several times to produce a gas powered vehicle, but with little capital, he realized that his attempts were futile. Ford approached a man by the name of Alexander T. Malcomson about the possibility of manufacturing an automobile. Malcomson, a friend of the family and wealthy coal merchant was reluctant at first but finally agreed with Ford, and decided to assit Ford financially with his endeavor. With Malcomsons investment and Ford's engineering skills a partnership was formed and in mid June of 1903, papers of incorporation for the Ford Motor Company were filed in Dearborn, Michigan.

Despite nearing bankruptcy on a few occasions, the company finally took off with the launch of their first car- the Model A, and by 1920 approximately 60% of all automobiles on the road were Ford. Today Ford is the largest truck maker and the number two manufacturer of cars in North America, producing an average of eight cars or trucks per minute. The Ford Motor Company employs 371 702 people at over 2400 branches in 33 countries and sells automobiles in over 200 markets.

The current situation of the Ford Motor Company, revenue of $44 billion, 6 percent above second quarter 2006. The company net income of $750 million, or 31 cents per share, for the second quarter of 2007. Profit of $258 million, or 13 cents per share, from continuing operations excluding special items. There was a significant year-over-year improvement for all automotive operations. Ford Motor Credit pre-tax profit of $112 million. Cost reductions of $600 million; $1.1 billion through the first half of 2007. There was automotive gross cash at June 30, 2007 of $37.4 billion.
Ford Motor Company sales and revenue over the last three years has fluctuated tremendously, 2005 was 176.8 billion, 160.1 billion and for the year of 2006 and 172.5 billion for 2007. The current return on...