Henry Ford (1863 – 1947) His first two starts
in the automobile industry were the Detroit
Automobile Company (1899) and Henry Ford
Automobile Company (1902) both of which failed.
His third start was the Ford Motor Company (1903)
capitalized at $150,000 with him retaining 25-1/2%
of the company. His first car was the Model A (1903).
By 1906 he had acquired over 50% and became
president of the company. In 1919 he obtained
complete ownership of the company at a cost of
$126,633,000. By the 1920’s Henry had also
acquired the Lincoln car company. In 1908 the
Model T was selected as the only car Ford would
produce. Focusing on one model would lower costs
to both Ford and the car buyer. He standardized the
color of all cars to be black in 1915 or 1916. The
black paint only required two coats which dried
faster and, therefore, speeded up the production line.
Colored paints took seven coats including a varnish c
oat. Ford settled on using only the 4-cylinder engine
after experimenting with the 2-, 4- and 6-cylinder
in-line engine blocks and an 8-cylinder “X” engine block