21 June, 2009

You've got to wonder what Henry Ford would think

The Detroit News
You've got to wonder what Henry Ford would think.

Two of Detroit's three automakers are bankrupt. General Motors Corp. and the Chrysler Group LLC are operating largely on aid from the federal government, which now owns a big chunk of the latter and will soon own a controlling stake in the former. The president of the United States has even sacked GM's CEO and forced the company to pick new board members.

"Most of this wouldn't shock him because a lot of this happened during his lifetime," Henry Ford's great-grandson, Ford Motor Co. Executive Chairman Bill Ford Jr., told The Detroit News in a recent interview. "He failed a couple times. He saw a lot of car companies come and go. And he saw his own company go bankrupt and then go on to the verge of bankruptcy several times during his lifetime."

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