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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.

Ford F-100 'Snakebit' shown off by Gene Simmons and Shannon Tweed at SEMA

Ford, along with KISS bassist Gene Simmons and his wife, Shannon Tweed, used SEMA as a backdrop to pull the covers off Snakebit, a 1956 Ford F-100 pickup truck that's been updated with Shelby Mustang-derived styling bits and a 5.4-liter supercharged V8 engine. All 550 horsepower are funneled through a six-speed manual gearbox to the rear wheels.
Underneath the custom bodywork sits a chassis that's been stretched five inches and a bed widened and bedecked with billet machined pieces that are supposed to look like wood. The 20-inch rear and 18-inch front wheels ape those of past Shelby Mustang models. The interior is swathed in two-tone leather with a bench seat designed to look - try to act surprised - like a Shelby Mustang.
Like what you see? Bidding for the truck will take place in 2014 at an unspecified Barrett-Jackson event (we'd assume Scottsdale). Proceeds will be used to help build a children's hospital in Saskatoon, in the province of Saskatchewan, where Ms. Tweed grew up. See the high-res gallery above and the press release down below for more.

Shelby to auction 2012 GT350 No. 1 in Vegas

With Shelby preparing to wind down production of its brutal GT350, a 624-horsepower Mustang that's meant to go up against the Roush Stage 3 in the world of tuned Ford ponycars, the Las Vegas-based tuner is looking to give back to one lucky customer. It'll auction off the very first GT350 ever produced, at the 2013 Barrett-Jackson auction in Las Vegas, a three-day event that runs from September 26 through September 28.
The GT350 is a monster, with a 5.0-liter, supercharged V8 that's been tuned well past 600 horsepower in a time when Ford's own Shelby-branded GT500 barely reached 550 horsepower. The GT350 is much louder than Ford's effort, too, both visually and audibly. The wide body look isn't what we'd call conventional, but on a car that sounds and goes like this, something extreme is needed. According to Shelby American's vice president of production, Gary Davis, "Carroll was very excited about the new wide body option, so that was included on this car. It's the first 2012 GT350 serial number from our anniversary year. It is a very special car." Wilwood brakes, a massaged suspension, and some very fat, sticky tires add to the Shelby experience.
This particular GT350 will be lot number 750, and will cross the Barrett-Jackson stage on Sunday, September 28.