While it is common knowledge that Henry II killed the Continental Division and OK'd McNamara's plan to dump the 2-seat T-Bird as (some would say wrongheaded) economy moves in order to pump up the stock price before he took the company public (supposedly to raise operating capital?) in '57 (?), I have always wondered how all that money was divvied up since I thought the company was wholly owned by the family? Does an IPO create new stock out of whole cloth that is then owned by the company? Any economist or stockbroker Y-Blockers out there who might throw some light on the subject?

6 VOLTS/POS. GRD. NW INDIANA