According to the New York Times (NYT), the Ford Motor Company board of directors on Thursday announced that it had formed a committee to look into the allocation of shares of Goldman Sachs to William Clay Ford Jr., the company's chairman and chief executive. The newspaper said Goldman Sachs allocated 400,000 shares to Bill Ford in 1999 as part of its initial public offering. Ford and Goldman have a longstanding business relationship and John L. Thornton, a president and co-chief operating officer of Goldman Sachs, has been a Ford director since 1996, the NYT noted.