Who’s in?
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The train station was an obvious boondoggle when it was purchased in 2018. Now $740 million has been spent, and thanks to Covid, no one wants to work in an office, regardless where it is. Timing is everything.
There are 71 million Class B shares held by descendants of company founder Henry Ford. The Ford family’s voting power diminishes once their Class B shares fall below about 60.8 million.
Chair Bill Ford has been slowly amassing more shares, and control, of the automaker his great-grandfather founded in 1903. The 64-year-old is the company’s biggest individual shareholder with 2.3 million shares of Ford’s common stock. More importantly, he’s also the biggest holder of the automaker’s Class B shares that carry super-voting powers that have allowed the Ford family to retain control of the company. While the Class B shares account for 2% of Ford’s outstanding stock, they control 40% of the voting power.
Bill Ford directly owns 16.1 million, or 23%, of the Class B shares, which are only available to family members. That’s quadruple the roughly 4 million, or 5.7%, he owned in 2012, according to FactSet. Ford directly owns about 20.3 million shares, including restricted, common and Class B stock.
The Ford Family's preferred shares give them 40% voting rights
Buy up all the stock to call the shots? ROFL
Apparently you are clueless to the way Ford stock works. Buy up all the available shares, heck you could buy 100% of the public shares. And it won't allow you to call a single shot! The Ford family holds preferred shares. Which means they get to call the shots no matter how much you invest. You could be Warren Buffet and buy every share of publicly traded stock, and all it will get you is a bunch of shares saying you gave the Ford family all that money.
Don't be a nitwit.
If you want to call the shots, buy up all the stock. Shouting from the sidelines will get you nowhere. Nobody give a rip if you don't like Bill or the train station.
Me, I'm in!
Yes do it! Oh and make them sell the Lions too!
Good luck with that. Henry set up the Class A stock for a reason.
Then what?