Ford Motor Company

At age 40, Ford, with 11 other investors and $28,000 in capital, incorporated the Ford Motor Company in 1903. A newly-designed car, driving one mile in 39.4 seconds, setting a new land speed record at 91.3 miles per hour (147.0 km/h).

Ford astonished the world in 1914 by offering a $5 per day wage which more than doubled the rate of most of his workers. The move proved extremely profitable; instead of constant turnover of employees, the best mechanics in Detroit flocked to Ford, bringing in their human capital and expertise, raising productivity, and lowering training costs. Ford called it "wage motive." The company's use of vertical integration also proved successful when Ford built a gigantic factory that shipped in raw materials and shipped out finished automobiles.

Ford Airplane Company

Ford, like other automobile companies, entered the aviation business during World War I, building Liberty engines. After the war, it returned to auto manufacturing until 1925, when Henry Ford acquired the Stout Metal Airplane Company.

Ford's most successful aircraft was the Ford 4AT Trimotor—called the “Tin Goose” because of its corrugated metal construction. It used a new alloy called Alclad that combined the corrosion resistance of aluminum with the strength of duralumin. In 1933, the Ford Airplane Division shut down because of poor sales during the Great Depression.

Other famous people

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