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Universal Credit Corporation
The Universal Credit Corporation (UCC) was a car financing entity for Ford cars that existed in the US in the 1930s. It was established in 1928 and was capitalised by Ford in conjunction with the Union Guardian Trust Company of Detroit. It was set up in response to GMAC (now Ally Financial) through the efforts of Edsel Ford and Ernest Kanzler at Ford to allow customers to buy Ford cars on credit. In 1932, Henry Ford Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist, business magnate, founder of the Ford Motor Company, and chief developer of the assembly line technique of mass production. By creating the first automobile that ... sold the corporation for $US 50 million in order to finance his manufacturing operations during the 1932 Bank Moratorium. Ford's share of the company was sold to Commercial Investment Trust (CIT) Corporation and UCC continued to serve Ford dealers and customers. References Ford Motor Company {{US-finance-comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Car Finance
Car finance refers to the various financial products which allow someone to acquire a car, including car loans and leases. Car purchases The most common method of buying a car in the United States is borrowing the money and then paying it off in installments. Over 85% of new cars and half of used cars are financed (as opposed to being paid for in a lump sum with cash). Roughly 30% of new vehicles during the same time period were leased. There are two primary methods of borrowing money to buy a car: direct and indirect. A direct loan is one that the borrower arranges with a lender directly. Indirect financing is arranged by the car dealership where the car is purchased. Legally, an indirect “loan” is not technically a loan; when a car buyer obtains financing facilitated by a dealership, the buyer and dealer sign a Retail Installment Sales Contract rather than a loan agreement. The dealer then typically sells or assigns that contract to a bank, credit union, or other financi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ford Motor Company
Ford Motor Company (commonly known as Ford) is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln luxury brand. Ford also owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom and a 32% stake in China's Jiangling Motors. It also has joint ventures in China (Changan Ford), Taiwan (Ford Lio Ho), Thailand ( AutoAlliance Thailand), and Turkey ( Ford Otosan). The company is listed on the New York Stock Exchange and is controlled by the Ford family; they have minority ownership but the majority of the voting power. Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines; by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ally Financial
Ally Financial is a bank holding company organized in Delaware and headquartered in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and an electronic trading platform to trade financial assets. Ally is one of the largest car finance companies in the U.S., providing car financing and leasing for 4.5 million customers and originating 1.4 million car loans annually. It is on the list of largest banks in the United States by assets and has 2.0 million depositors. Its electronic trading platform has approximately 350,000 funded accounts. The company has sold more than 5 million vehicles, including 270,000 vehicles sold in 2019 via its SmartAuction online marketplace for auto auctions, launched in 2000. The company was known as GMAC, an acronym for General Motors Acceptance Corporation, until 2010. History The company was founded in 1919 by General Motors (GM) a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edsel Ford
Edsel Bryant Ford (November 6, 1893 – May 26, 1943) was an American business executive and philanthropist who was the son of pioneering industrialist Henry Ford and his wife, Clara Jane Bryant Ford. He was the president of Ford Motor Company from 1919 until his death in 1943. He worked closely with his father, as sole heir to the business, but was keen to develop cars more exciting than the Model T ("Tin Lizzie"), in line with his personal tastes. Even as president, he had trouble persuading his father to allow any departure from this formula. Only a change in market conditions enabled him to develop the more fashionable Model A in 1927. Edsel also founded the Mercury division and was responsible for the Lincoln-Zephyr and Lincoln Continental. He introduced important features, such as hydraulic brakes, and greatly strengthened the company's overseas production. Ford was a major art benefactor in Detroit and also financed Admiral Richard Byrd's polar explorations. He died of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Ford
Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist, business magnate, founder of the Ford Motor Company, and chief developer of the assembly line technique of mass production. By creating the first automobile that middle-class Americans could afford, he converted the automobile from an expensive luxury into an accessible conveyance that profoundly impacted the landscape of the 20th century. His introduction of the Ford Model T automobile revolutionized transportation and American industry. As the Ford Motor Company owner, he became one of the richest and best-known people in the world. He is credited with "Fordism", the mass production of inexpensive goods coupled with high wages for workers. Ford had a global vision, with consumerism as the key to peace. His intense commitment to systematically lowering costs resulted in many technical and business innovations, including a franchise system that put dealerships throughout North America and major citie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Causes Of The Great Depression
The causes of the Great Depression in the early 20th century in the United States have been extensively discussed by economists and remain a matter of active debate. They are part of the larger debate about economic crises and recessions. The specific economic events that took place during the Great Depression are well established. There was an initial stock market crash that triggered a "panic sell-off" of assets. This was followed by a deflation in asset and commodity prices, dramatic drops in demand and the total quantity of money in the economy, and disruption of trade, ultimately resulting in widespread unemployment (over 13 million people were unemployed by 1932) and impoverishment. However, economists and historians have not reached a consensus on the causal relationships between various events and government economic policies in causing or ameliorating the Depression. Current mainstream theories may be broadly classified into two main points of view. The first are the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buckminster Fuller
Richard Buckminster Fuller (; July 12, 1895 – July 1, 1983) was an American architect, systems theorist, writer, designer, inventor, philosopher, and futurist. He styled his name as R. Buckminster Fuller in his writings, publishing more than 30 books and coining or popularizing such terms as " Spaceship Earth", "Dymaxion" (e.g., Dymaxion house, Dymaxion car, Dymaxion map), "ephemeralization", " synergetics", and "tensegrity". Fuller developed numerous inventions, mainly architectural designs, and popularized the widely known geodesic dome; carbon molecules known as fullerenes were later named by scientists for their structural and mathematical resemblance to geodesic spheres. He also served as the second World President of Mensa International from 1974 to 1983. Fuller was awarded 28 United States patents and many honorary doctorates. In 1960, he was awarded the Frank P. Brown Medal from The Franklin Institute. He was elected an honorary member of Phi Beta Kappa in 1967, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nine Chains To The Moon
''Nine Chains to the Moon'' is a book by R. Buckminster Fuller, first published in 1938. The title refers to the observation that, when the book was written, the world population of humans (Fuller calls them "earthians"), if stood one atop another, could form chains that would reach back and forth between Earth and the Moon nine times. The book presents Fuller's overview of technological history. It proposes the author's vision of future prosperity driven by ephemeralization, Fuller's term for the process of doing more with less. Fuller believed that this would lead to ever-increasing standards of living and ever-growing population despite finite resources. Fuller uses Henry Ford Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist, business magnate, founder of the Ford Motor Company, and chief developer of the assembly line technique of mass production. By creating the first automobile that ...'s assembly line as an example of how ephemeraliza ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Random House
Random House is an American book publisher and the largest general-interest paperback publisher in the world. The company has several independently managed subsidiaries around the world. It is part of Penguin Random House, which is owned by German media conglomerate Bertelsmann. History Random House was founded in 1927 by Bennett Cerf and Donald Klopfer, two years after they acquired the Modern Library imprint from publisher Horace Liveright, which reprints classic works of literature. Cerf is quoted as saying, "We just said we were going to publish a few books on the side at random," which suggested the name Random House. In 1934 they published the first authorized edition of James Joyce's novel ''Ulysses'' in the Anglophone world. ''Ulysses'' transformed Random House into a formidable publisher over the next two decades. In 1936, it absorbed the firm of Smith and Haas—Robert Haas became the third partner until retiring and selling his share back to Cerf and Klopfer in 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
