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Henry Ford apparently knew more about economics than George Bush. ... But the Henry Ford principle was lacking, for if production was increased people would need the money to buy what was produced. ... shtml)
The same year, Henry Ford shocked the world with what probably stands as his greatest contribution ever: the $5-a-day minimum-wage scheme. ... Ford not only doubled that, he also shaved an hour off the workday. ... The critics were too stupid to comprehend that because Ford had lowered his costs per car, the higher wages didnt matter--except for making it feasible for more people to buy cars.
When Ford stumbled, it was because he wanted to do everything his way. ... Ford controlled rubber plantations in Brazil, a fleet of ships, a railroad, 16 coal mines, and thousands of acres of timberland and iron-ore mines in Michigan and Minnesota. ... Although people told him to diversify, Henry Ford had developed tunnel vision. ...
In a sense Henry Ford became a prisoner of his own success. ...
Naturally, Ford, and only Ford, determined that policy. ... That left Ford in the dust, its management in turmoil. ...
In the prewar years there was no intelligent management at Ford. ... Ford had done so many screwy things--from terrorizing his own lieutenants to canonizing Adolf Hitler--that the companys image was as low as it could go.
It was Henry Ford II who rescued the legacy. He played down his grandfathers antics, and he made amends with the Jewish business community that Henry Ford had alienated so much with the racist attacks that are now a matter of historical record. Henry II encouraged the "whiz kids" like Robert McNamara and Arjay Miller to modernize management, which put the company back on track. Ford was the first company to get a car out after the war, and it was the only company that had a real base overseas.
Approximate Word count = 1562
Approximate Pages = 6.2
(250 words per page double spaced)
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