04-02-2013, 06:05 PM
"L" designates 1963. The letter system started with "A" in 1953. "I" was skipped to avoid confusion with one.
Philco was not bankrupt. I am not sure where that originated. It was simply bought by Ford motor in late '60. Henry Ford 2 had a vision to build Ford into another GM. Philco provided a quick entry into home appliances, electronics, aerospace and car radios.
Some Ford executives opposed the purchase. Ultimately Ford chose not to divert investment from the auto business to consumer goods and sold off various divisions. Other businesses were merged into Ford Motor.
Henry Ford sat on the GE board so he probably understood the enormous cost to become a serious player in that industry.
Philco was not bankrupt. I am not sure where that originated. It was simply bought by Ford motor in late '60. Henry Ford 2 had a vision to build Ford into another GM. Philco provided a quick entry into home appliances, electronics, aerospace and car radios.
Some Ford executives opposed the purchase. Ultimately Ford chose not to divert investment from the auto business to consumer goods and sold off various divisions. Other businesses were merged into Ford Motor.
Henry Ford sat on the GE board so he probably understood the enormous cost to become a serious player in that industry.
