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April 27, 2011

India’s third-largest software exporter, family-controlled Wipro, announced on 26 April that its total revenues for 2010 saw a rise of 15% year-on-year, while fellow family-controlled automobile maker Ford reported its best first quarter results in 13 years.

India’s third-largest software exporter, family-controlled Wipro, announced on 26 April that its total revenues for 2010 saw a rise of 15% year-on-year, while fellow family-controlled automobile maker Ford reported its best first quarter results in 13 years.

Wipro, which also manufactures consumer goods and electrical products, said that its total sales rose to $6.98 billion from $6.11 billion the year before. The company’s consumer care segment contributed 9% to the total revenue, while its IT services sector accounted for 76% of the revenues.

October 27, 2010

Ford Motor, controlled by the Ford family, said net earnings were $1.7 billion in the third quarter, an increase of $690 million.

Ford Motor, controlled by the Ford family, said net earnings were $1.7 billion in the third quarter, an increase of $690 million.
 
The Detroit-based carmaker said the strong performance brings the company's net profits in the year to date to $6.4 billion, compared with a loss of $14.6 billion in 2008.
 
Despite the improved profitability, Ford is still grappling with a high debt burden totalling $26.4 billion at the end of September.
 

August 9, 2010

Bill Ford, executive chairman of family-controlled carmaker Ford, last week sold 3.4 million common shares and stock options in the company, worth around $28 million.

Bill Ford, executive chairman of family-controlled carmaker Ford, last week sold 3.4 million common shares and stock options in the company, worth around $28 million. 

He also received his first wage in five years, according to an email to Ford employees reported in the Wall Street Journal. Ford (pictured) pledged he would forgo his salary until the company was once again in a strong financial situation.

July 1, 2010

Family-controlled Ford Motor Co has announced it is reducing its debt by more than $4 billion in order to further strengthen its balance sheet.

Family-controlled Ford Motor Co has announced it is reducing its debt by more than $4 billion in order to further strengthen its balance sheet.

The US-based business, the only US automaker not to receive state aid to stave of bankruptcy during the financial crisis, is retiring debt owed to the UAW Retiree Medical Benefits Trust, whose members count on the Trust for their health care benefits, ahead of schedule.

May 14, 2010

The Ford family, who control the US-based automaker of the same name, retained their multiple voting shares through which they control the business at the company’s annual shareholder meeting yesterday

The Ford family, who control the US-based automaker of the same name, retained their multiple voting shares through which they control the business at the company's annual shareholder meeting yesterday.
 
The proposal to reconsider the two-tier share system was put forward by activist investor Ray Chevedden and was rejected by a 70.8% majority. This is the sixth year in which the resolution has been voted on and this year saw it gain the most support so far with 29.2%.
 

April 28, 2010

Further evidence that businesses are beginning to turn the corner has been provided three family companies this week, all of which have reported stronger than expected growth for the first quarter of 2010.

Further evidence that businesses are beginning to turn the corner has been provided three family companies this week, all of which have reported stronger than expected growth for the first quarter of 2010. 

March 29, 2010

Ford’s sale of Volvo yesterday to China-based Zhejiang Geely Holding Group Company Ltd for $1.8 billion represents a loss of $4.7 billion and finally draws a line under the excesses of the past.

Ford's sale of Volvo yesterday to China-based Zhejiang Geely Holding Group Company Ltd for $1.8 billion represents a loss of $4.7 billion and finally draws a line under the excesses of the past.

Bill Ford Jr, great-grandson of founder Henry Ford and current executive chairman, was just getting his feet under the table as chairman of the board of directors when Ford paid $6.5 billion for Volvo in 1999.

March 23, 2010

The 2010 list of the world’s most ethical companies includes many family-owned or –controlled businesses, confirming the sector’s commitment to corporate social responsibility.

The 2010 list of the world's most ethical companies includes many family-owned or –controlled businesses, confirming the sector's commitment to corporate social responsibility.

The list, compiled by the Ethisphere Institute, includes 100 companies from a wide range of countries and industries.

January 28, 2010

The release of full year financial statements by some of the world’s largest family companies reveal a diverse range of fortunes for both the businesses and their founding families.

The release of full year financial statements by some of the world's largest family companies reveal a diverse range of fortunes for both the businesses and their founding families.

Ford, the family-controlled automaker, today posted better-then-expected full year results, recording a pre-tax operating profit of $454 million – its first for four years. This figure represented a $7.3 billion improvement on last year's losses which totalled nearly $15 billion. 

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