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 new company. Ford & Malcomson was reincorporated as the Ford Motor Company on June 16, 1903, with $28,000 capital. The original investors included Ford and Malcomson, the Dodge brothers, Malcomson's uncle John S. Gray, Malcolmson's secretary James Couzens, and two of Malcomson's lawyers, John W. Anderson and Horace Rackham. Ford then demonstrated a newly designed car on the ice of Lake St. Clair, driving in 39.4 seconds and setting a new land speed record at . Convinced by this success, the race driver Barney Oldfield, who named this new Ford model "999" in honor of the fastest locomotive of the