Ford family feud, will they let go of controlling interest?
But this gathering, held at Greenfield Village not far from Ford's world headquarters, was quite different from previous family summits because of the presence of two of Wall Street's hottest dealmakers, Joseph Perella and Peter Weinberg.
The Detroit News has learned that Ford family members invited Perella and Weinberg and considered hiring them to advise the family about its huge stock holdings in Ford Motor — a clear sign of growing concern about the automaker's long-term prospects.
At the end of the meeting, the family voted not to hire Perella Weinberg Partners as independent outside advisers.
But with their stock sinking in value and the automaker on the skids as shareholders convene Thursday in Wilmington, Del., for their annual meeting, the Ford family's resolve to retain its 103-year ownership position is being tested as never before.
People close to the situation told The News that the tense meeting highlighted differences within the family, particularly between Ford Motor Executive Chairman Bill Ford Jr. and his older sister, Sheila Hamp, and her husband, Steven Hamp, who became Bill Ford Jr.'s chief-of-staff in 2005 and left the company last year. More at Detroit News