Quote:
PackardV8 wrote:
"Henry Ford was driven out of the original Henry Ford Company. After he was gone, the company was renamed Cadillac."
I don't quite undestand that statement. As i understand it it was Henry LELAND founded Cadillac and then Lincoln.
But i'm not sure what any of that has to do with Ford and Packard nor the hearse that the old man was carried in.
CADILLAC
With the intent of liquidating the firm's assets, Ford's financial backers, William Murphy and Lemuel Bowen called in engineer Henry M. Leland of Leland & Faulconer Manufacturing Company to appraise the plant and equipment prior to selling them. Instead, Leland persuaded them to continue the automobile business using Leland's proven single-cylinder engine. Henry Ford's departure required a new name, and on August 22, 1902, the company reformed as the Cadillac Automobile Company. Leland & Faulconer Manufacturing and the Cadillac Automobile Company merged in 1905.
The Cadillac automobile was named after the 17th-century French explorer Antoine Laumet de la Mothe, Sieur de Cadillac, who founded Detroit in 1701.[2][3]
LINCOLN
The company was founded in August 1917 by Henry M. Leland, one of the founders of Cadillac (originally the Henry Ford Company). He left the Cadillac division of General Motors during World War I and formed the Lincoln Motor Company to build Liberty aircraft engines with his son Wilfred. After the war, the company's factories were retooled to manufacture luxury automobiles.
[edit] Purchase by Ford
The company encountered severe financial troubles during the transition, coupled with body styling that wasn't comparable to other luxury makers, and after having produced only 150 cars in 1922, was forced into bankruptcy and sold for USD 8,000,000 to the Ford Motor Company on February 4, 1922, which went to pay off some of the creditors. The purchase of Lincoln was a personal triumph for Henry Ford, who had been forced out of his second (after Detroit Automobile Company) company by a group of investors led by Leland. Ford's company, renamed Cadillac in 1902 and purchased by rival General Motors in 1909, was Lincoln's chief competitor.
Now, if you were Henry Ford, would you want to ride in a Cadillac?
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