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Ford thus became a figure of legend, the native genius that could work miracles. He had considerable mechanical ability but his conclusions were reached intuitively rather than logically. He ran as a Democratic candidate for the U.S. Senate in 1918 and was narrowly defeated. In 1936 he and his son Edsel established the Ford Foundation, to which they bequeathed much of the company's stock.
Henry Ford became a victim of his own success in that he clung to the Model T too long, refusing to recognize that its popularity was fading, and consequently lost first place in the automobile industry to General Motors in 1926...
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