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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.

Shelby Mustang stars with Ethan Hawke, Selena Gomez in Getaway movie

Car movies. We keep watching them, they keep making them. Despite Fast & Furious 6 still blowing up the box office (No. 1 in theaters for the second straight week) and production on Transformers 4 being well underway (check out the Bugatti Veyron and Corvette Stingray as new cast members), there's still room on the marquee for more car movies. Next one up is an Ethan Hawke joint called Getaway, which prominently co-stars a Ford Shelby GT500. The first trailer for Getaway, which opens in theaters on August 30, was released yesterday and can be watched below.
The movie's plot centers around Hawke's character, former race car driver Brent Magna, who must somehow use this car, what appears to be a generation-old Shelby GT500 Super Snake he "commandeered," to save his wife. The movie's third co-star is Selena Gomez, whose character we're told is the owner of said Shelby. A 20-year-old having a car like this seems a bit far-fetched - especially in Europe - and on paper, this plot looks like it cribs liberally from Charlie Sheen's 1994 The Chase. But all we've got to go on is a brief plot description and the trailer below, so we'll withhold judgment until the studio firmly has our ticket money in its grasp.
The Shelby GT500 is, of course, no stranger to acting. Before this jump to celluloid, the most fearsome of all Mustang models starred in the return of Knight Rider to television on NBC back in 2008. That gig didn't pan out for the car, the show lasting only one season and 17 episodes. In fact, with its casting in Getaway, the Shelby GT500 is one of the few actors who escaped that debacle with a future in show biz.

Ford celebrates 1 millionth Mustang built at Flat Rock

Yesterday, the Ford Mustang turned 49 years old, and Ford didn't miss the opportunity to celebrate the one millionth version of the Mustang rolling off the assembly line at the Flat Rock Assembly plant. Production of the Mustang at Flat Rock coincided with the fifth-generation design launching in 2004, and the one millionth car was the car shown above, a 2014 GT convertible painted in Ruby Red.
In total, Ford has sold more than 8.5 million Mustangs since the original car went on sale, but some of the key milestones over the car's nine years at Flat Rock include the Shelby GT-H, Bullitt, Boss 302 and, of course, the 662-horsepower Shelby GT500. Scroll down for a press release celebrating Flat Rock's milestone Mustang.