Henry Ford II with Mazda was well developed even before the end of HF2's period of influence. However, in Iacocca's view, it lagged several years behind GM and Chrysler, due to Henry Ford II's unappealable influence, before others led it forward despite his resistance. HF2's management style caused the company's fortunes to fluctuate in more ways than one. For example, he allowed the offering of public stock in 1956, which raised $650 million for the company, but the "experimental car" program instituted during his tenure, the Edsel, cost the company almost half that. Likewise, HF2 hired the creative Lee Iacocca, who was fundamental
Henry Ford Company Mack Avenue Plant. In August 1902, Henry M. Leland was brought in by the investors to appraise the plant and equipment prior to selling them. Instead, Leland persuaded them to continue in the automobile business. The Henry Ford Company reorganized that year as Cadillac in honor of Antoine de la Mothe Cadillac, the founder of Detroit. Cadillac's first car was completed on October 17, 1902, the 10 horsepower (7 kW) Cadillac. Based on Henry Ford's design (except for the engine, designed by Leland & Faulconer), it was practically identical to the 1903 Ford Model A. Located in Detroit at 450