Today, the company's executives will meet with stockholders to detail Ford's plans to outrun the collapsing economy without turning to the US for help. This plan put Bill Ford in a particularly tricky situation, as his family may lose the special Class B shares of their super-voting power, detnews.com reported.
To avoid that awkward position, Ford has asked the shareholders not to accept a perennial proposal to that end. The proposal was made by an investor who claims Ford does nothing than "take shareholders' money, but does not give shareholders a voice in the company."
Bill Ford has recognized in the opening of the 54th annual shareholders meeting the merits of Allan Mulally and the board of directors, who up until now steered the company away from the treacherous waters of the industry.
In turn, one of the shareholders praised the decision made by Ford and Mullaly not to ask for help from the US government. "I appreciate what
you and Mr. Mulally have done to not become a TARP company," the shareholder was quoted as saying by the source.
Ford's shareholders have some reason to be content with the company's current route. The manufacturer's stock has increased since February, largely thanks to the agreements it managed to reach in order to cut its debt to the UAW, Autonews reported.
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