[Steve Cassani]

The Ford family owns a majority of the company. The remainder of the stock is dispersed among too many individuals for anyone to be able to influence the direction management decides to take. Kirkorian came as close as anyone might to being in a position to maker demands on the family. He chose to sell, at a loss. I doubt his block will be purchased by an individual, further diluting the influence anyone might have.

If you're interested in a company with assets in excess of the total value of the shares outstanding Ford is a reasonable choice. Shareholders are the last to be compensated in the event of a failure and most frequently are left with nothing. Ford is more of a concern than other companies because the family's fortune is well distributed over many assets, not just the company that carries their name. Shareholders though are not similarly buffered against what may become more a matter of resignation for the Ford family.

A merger of GM and Chrysler, with the current owners of Chrysler compensated in cash and preferred stock in the new company, promises to have sufficient sales worldwide to leave Ford a distant second among domestic manufacturers. The new GM will be able to hold off Toyota's ascendence for a least a few more years. Ford has no comparable strategy available to it.

Two or three years ago Ford and Renault took a close look at eachother. I don't recall who blinked... The precedent does not bode well for Ford and the company is worth less as a manufacturer today. The decline in value of Ford's inventory of buildings and machines has been less but this 'identity' has no future.