This Day in Financial History - January 18 . . .

1956 - The Ford Foundation sells 20 percent of its Ford Motor stock to Wall Street investors, permitting the public to buy into Ford for the first time and bringing in some $643 million to the Foundation, which announces that it will give away more than $500 million in the next 18 months, $150 million more than in the 20 years since 1936. Source:

1986 - The Willys-Overland Company, the primary contractor that built the Jeep for the U.S. military during World War II, reentered the commercial automobile market on this day. It offered the Willys Aero, a sporty two-seater. Source:

1991 - Eastern Air Lines goes out of business after 62 years, citing financial problems. The company had been operating under bankruptcy protection since March 9, 1989. Over 18,000 employees lost their jobs and pensions in one day, not including the thousands laid off or furloughed prior to the collapse. Source:

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