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Murray Corporation of America run from 1600 Clay Street, Detroit Michigan was, from 1925 until 1939, a major supplier of complete automobile bodies to the Ford Motor Company. Non-automotive stamped steel products were added during the Great Depression of the 1930s.
On December 19, the cost of credit default swaps to insure the debt of Ford was 68 percent of the sum insured for five years, in addition to annual payments of 5 percent. That meant $6.8 million paid upfront to insure $10 million in debt, in addition to payments of $500,000 per year. [ 56 ]
Over the decades the business has continued to grow and has now evolved into a group that consists of 30 Canadian dealerships from coast to coast. Today, The Murray Automotive Group has over 1,500 employees and sells nearly 15,000 vehicles each year. Claire’s sons, Doug, Paul, Dan and Chris are 3rd generation Murray’s in the business.