HENRY FORD II

See {637904} for another example of his racism.

This quotation illustrates how out of touch with reality a CEO of a large company can get. At the time, leading insurance companies were urging auto manufacturers to at least offer seat belts as an option. The Department of Transportation test also showed that airbags would save many lives and reduce injuries. Ford was not alone in refusing the examine the experiments seriously. Thousands of Americans died and were maimed while Airbags became an issue that had to be mandated politically rather than leaving it to the leaders of the automotive industry. This quotation is often used to show that the Private Sector simply cannot be trusted to place the public’s health and lives above their profits and hence regulation is needed.

Ford had asked Iacocca, then the President and the number 2 executive to Ford, if he paid any income tax. Iacocca paid about 50 percent of his income as the maximum bracket at the time was over 70 percent. Ford wanted to help him out. At the time Ford earned millions of dollars every month. One of the things that this quote illustrates is that it would not have mattered with Ford whether the maximum tax rate was 30%, 50% or 70%. He and the other super-rich people were not going to pay much anyway because of the loopholes, the deductions, and gaming the system.

This belief held by Ford and most other American auto executives, left the small car market open for the Japanese and the Europeans. This was one of the poor decision that caused the American auto companies to almost go under in 2008 and the Government bailed them out and forced them all to make smaller cars which use less gasoline or use electricity. Then then thrived and paid back bailout funds early. Ford and the others made decisions that almost destroyed the American automobile industry.

See {637905} for another example of his racism.

This quotation illustrates how out of touch with reality a CEO of a large company can get. At the time, leading insurance companies were urging auto manufacturers to at least offer seat belts as an option. The Department of Transportation test also showed that airbags would save many lives and reduce injuries. Ford was not alone in refusing the examine the experiments seriously. Thousands of Americans died and were maimed while Airbags became an issue that had to be mandated politically rather than leaving it to the leaders of the automotive industry. This quotation is often used to show that the Private Sector simply cannot be trusted to place the public’s health and lives above their profits and hence regulation is needed.

This belief held by Ford and most other American auto executives, left the small car market open for the Japanese and the Europeans. This was one of the poor decision that caused the American auto companies to almost go under in 2008 and the Government bailed them out and forced them all to make smaller cars which use less gasoline or use electricity. Then then thrived and paid back bailout funds early. Ford and the others made decisions that almost destroyed the American automobile industry.

See {637905} for another example of his racism.

See {637904} for another example of his racism.

Ford had asked Iacocca, then the President and the number 2 executive to Ford, if he paid any income tax. Iacocca paid about 50 percent of his income as the maximum bracket at the time was over 70 percent. Ford wanted to help him out. At the time Ford earned millions of dollars every month. One of the things that this quote illustrates is that it would not have mattered with Ford whether the maximum tax rate was 30%, 50% or 70%. He and the other super-rich people were not going to pay much anyway because of the loopholes, the deductions, and gaming the system.