- Title: USA: FORD MOTOR COMPANY MARKS 100TH ANNIVERSARY OF ITS FOUNDING
- Date: 18th June 2003
- Summary: (W8) DEARBORN, MICHIGAN, UNITED STATES (RECENT - JUNE 12, 2003) (REUTERS) SLV EXTERIORS OF FORD HEADQUARTERS (2 SHOTS)
- Embargoed: 3rd July 2003 13:00
- Keywords:
- Location: DEARBORN, MICHIGAN, UNITED STATES
- City:
- Country: USA
- Topics: Business,Industry,Transport
- Reuters ID: LVA5UGUVETDZUEKQSXZ6KLP5F7R4
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- Story Text: Ford Motor Company, the world's second biggest automaker, has marked the 100th anniversary of its founding with an upbeat annual shareholders meeting.
The Ford shareholders' annual meeting on monday (June 16, 2003) capped a gala, five-day celebration of the Dearborn, Michigan-based Ford Motor Company's centennial.
When the Model T Ford was introduced in 1908 the simple car ultimately became the best selling car in the world.
3,200 of the company's classics were on display over the weekend, including such icons as the 1929 Model A, the 1956 Ford Thunderbird and the original "Pony Car", the "1964½" Ford Mustang.
The company's past met its fiscal future on Monday, as 1,294 shareholders attended the annual shareholders meeting in Dearborn, Michigan, William Clay Ford reminisced fondly about his grandfather, company founder Henry Ford, telling shareholders "He left a great legacy to the world, he left a great legacy to the company, and he left a great legacy and feeling of love to me, personally."
The anniversary comes at a difficult time for the world's second-largest automaker, which is struggling with belt-tightening and layoffs and saw its stock drop to a more than 10-year low earlier this year after losing $6.4 billion in 2001 and 2002.
Ford executives sounded an optimistic note at the meeting, saying the company is on track with its profits and new vehicles, and William Clay Ford told the company's investors not to lose heart.
"I do know one thing, the company is presently in very good hands, we have a darn good management team, and even though the present is tough, I'm sure that this group will prevail over it and their brighter days are coming, and that's in spite of all the doomsayers on Wall Street who claim the sky is falling. Don't believe it for a second, this company is very vital and it's going to do just fine," Ford said.
The company's celebrations over the weekend also included tours of its plant, concerts, and fireworks displays. - Copyright Holder: REUTERS
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