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Bill Ford augments his power by nearly doubling stake of supervoting shares

Bill Ford Jr. has more sway than ever over the automaker that bears his surname, as the great-grandson of Ford's founder has reportedly doubled is holdings of Class B Ford stock. According to a report from Reuters (which cites a newly discovered securities filing), he acquired some 3.7 million Class B shares from an unnamed family member.
Class B shares of Ford stock are held by descendants of Henry Ford and offer expanded voting power to their holders - Bill Ford Jr. now controls roughly 11.5 percent of the total Class B pool. Ford Jr. is also a one of five trustees that manage a voting trust that oversees the majority of these "supervoting" shares. In total, Reuters reports there are 71 million Class B shares that account for 40 percent of the voting power in the company, despite making up just 2 percent of the total volume of all Ford stock.
Ford Jr. served as Ford's CEO until 2006, when he stepped down to hire and make space for current CEO, Alan Mulally. The move to consolidate Ford family voting power, at least somewhat, is seen by many as a comforting sign with Mulally's departure from the company likely to happen in the next several years.

Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

Ford and Lincoln owners can personalize their Alexa commands

Ford and Lincoln owners whose vehicles have hands-free access to Alexa don't have to stick to using standard voice commands if they don't want to. The automaker has rolled out enhanced Car Control capabilities, and with it comes the option to teach Alexa commands that reflect their natural way of speaking. For example, they can program in "Alexa, I'm cold," and then teach the voice assistant to respond by asking what course of action it should take, such as "I can increase the temperature by 5 degrees or turn off the AC. What should I do?" Another example of a personalized phrase would be: "Alexa, set the AC to full blast." The assistant can then ask the owner what they mean by "full blast." Training Alexa to respond to personalized phrases is made possible by the assistant's teachable AI technology. All vehicles with Alexa Built-in will get access to enhanced Car Control when it becomes available to them. At the moment, the models with access to the hands-free experience are the 2022 F-150, Bronco, Mustang Mach-E, Edge, the new Expedition, Lincoln Nautilus and revised 2022 Lincoln Navigator. The long-awaited 2022 F-150 Lightning will also come with the capability when it launches. Ford debuted the hands-free Alexa capability for its vehicles last year, marking the beginning of its six-year partnership with Amazon. As part of that partnership, it's giving its customers complimentary access to Alexa for up to three years that begin on the new vehicle's warranty start date. Ford Lincoln Technology Infotainment