I have always heard it was actually for Ford Engine. I had a 1957 Fairlane with the 332 P.I. in it and I asked the dealer then what the Fe meant and he told me Ford Engine as it came from some foundry, so that more or less fits what Ron (CW) posted. In Ernie's case it wouldhave to stand for Frigging Expensive. With his history of working on cars and then burning them up that would also fit.
Ron
