Local History: Ford "Whiz Kid" J. Edward Lundy

J. Edward Lundy was a Clarion man behind the scenes, but his influence was amazingly profound. After WW II, the Ford Motor Co. had not shown a profit for many years, and was losing money at the rate of one million dollars a day. At that time, the president of the company was Henry Ford II, commonly called the “Duce.”  He was 29 years of age and was publicly searching for answers. Almost immediately, an answer came from 32 year old Charles B. “Tex” Thornton, a former Colonel of the Army Air Force.  He represented a group of associates who served under him in the office of statistical control in the Air Force. The offer was “either hire all ten members of the group, or get none.”

After a visit with the group, young President Ford promptly employed the group of ten to be known as the “Whiz Kids.” They saved the Ford Co. by updating internal controls. The company became one of the most celebrated success stories in history of American business. Besides Tex Thornton, two other members of the group were J. Edward Lundy of Clarion and Robert McNamara. After leaving Ford, McNamara, became Defense Secretary for President John Kennedy.

Ed Lundy was quick, methodical, and well known for his intellect and academic demeanor.   He installed discipline and accountability to the Company. The format and language he instituted for financial reporting are still used at Ford today.  Staff members call them “Lundyisms.”  Believing the finance function was the heart of “management with facts, Lundy focused the function on forecasting thereby making information useful and actionable.  During his 33 years of service, Ed was credited with re-writing the rules of finance in the auto industry.  It was said, “No one in America can rival him.”

In 1979, J. Edward Lundy retired from Ford, as Executive Vice President and Chief Financial Officer. He continued to serve on the company’s Board of Directors until 1985. Lundy was inducted into the Automotive Hall of Fame in 2003.  He died October 5, 2007. His interment is at Holy Sepulcher Cemetery, Southfield Oakland County, Michigan.

Ed was an extremely private person preferred no publicity about himself and a vastly generous person. As a devout Catholic, he gave a new “top of the line” Ford passenger car to the last four Nuns teaching at St. John’s Parochial School in Clarion. Ed gave $32 million for the J. Edward Lundy Pavilion Mercy Medical Center in Cedar Rapids, Iowa, which opened in May 2002. His oldest sister, Henrietta, married a physician and they lived in Cedar Rapids. Ed was very close to her making regular visits to Cedar Rapids.

Joseph Edward Lundy was born in 1915 to Verne and Mary Lundy.  He had three older sisters, i.e., Henrietta, Margaret and Kay. The three boys were John, Ed and “Jim,” who was the youngest sibling.  For Jim’s military service, see Chapter 5 of my book, “Ordinary Heroes.”  

Ed earned a B.A. degree from the University of Iowa in 1936, graduating Magna Cum Laude.  He was a Fellow in economics at Princeton University from 1936 to 1943. In 1943, Princeton’s senior class elected Ed “the most inspiring teacher on Princeton’s faculty.”  Ed enlisted as a private in the Army Air Forces. In two years, he attains the rank of Major. He was director of research and analysis for the Statistical Central Headquarters in the Pentagon, serving from 1943 to 1946. 

 My sister, Melvene, graduated in 1931. Starting in high school, she and Ed were close distinguished friends for many years.  She drove pickups and Ed always told her what Ford pickups to buy.

After completing his high school sophomore year, Ed stopped at our house and announced to Melvene that he was going to be “famous some day!”

For more about Lundy, see the Monitor’s May 29 issue!