Lincoln
Leland founded Lincoln, later purchased by the Ford Motor Company. Leland formed the Lincoln Motor Company, got a $10,000,000 contract and started building the V12 Liberty engine. After the war, the company was reorganized, and the Lincoln Motor Company Plant was retooled to manufacture luxury automobiles. The V8 engine used in the first Lincoln automobiles is said to be influenced by the Liberty engine's design.
In 1922, Lincoln became insolvent and was bought out by Henry Ford's Ford Motor Company. Ford's bid of $8 million was the only bid at a receivers sale. Ford had first offered $5 million, but the judge would not accept it for a well-equipped company whose assets were conservatively estimated at $16 million. Ford deliberately low-balled his offer as revenge against Leland's role in the creation of Cadillac.
After the sale, Leland and his son Wilfred continued to run the company, believing they would still have full control to run the company as they saw fit. Ford assigned a number of their people to Lincoln, they said to learn. However, it soon became clear they were there to streamline their production and stop the loss of money that had bankrupted Lincoln. Relations between the Henry Ford and Leland workers continued to deteriorate.
On June 10, 1922, Ford executive Ernest Liebold arrived at Lincoln to ask for the resignation of Wilfred Leland. When it became clear that Leibold had the full authority of Henry Ford, Henry Leland resigned as well. That afternoon both men were shown out of the factory they had created.
The Lincoln continues to be part of the luxury line of Ford to the present. Leland had no connection to the Lincoln Motor Car Works, a marque sold by Sears-Roebuck from 1905-1915.
Read more about this topic: Henry M. Leland
Famous quotes containing the word lincoln:
“So long as I have been here I have not willingly planted a thorn in any man’s bosom.”
—Abraham Lincoln (1809–1865)
“In the hope that it may be no intrusion upon the sacredness of your sorrow, I have ventured to address you this tribute to the memory of my young friend, and your brave and early fallen child. May God give you that consolation which is beyond all earthly power.”
—Abraham Lincoln (1809–1865)
“In using the strong hand, as now compelled to do, the government has a difficult duty to perform. At the very best, it will by turns do both too little and too much. It can properly have no motive of revenge, no purpose to punish merely for punishment’s sake. While we must, by all available means, prevent the overthrow of the government, we should avoid planting and cultivating too many thorns in the bosom of society.”
—Abraham Lincoln (1809–1865)