Tag: divorce

By on November 17, 2010

Mazda is passing the hat around to collect the money to buy out most of Ford’s remaining share, and what looks like half of Japan is chipping in. As many as 10 firms will purchase the Mazda shares that are still held by Ford, says The Nikkei [sub]. Ford plans to cut its 11 percent stake in Mazda to a symbolic 3 percent. (Read More…)

By on October 18, 2010

Most divorces are a bit messy, and the Ford/Mazda separation is no exception. Sometimes, it tales a while for reality to sink in.  Here are the latest dispatches from divorce court. (Read More…)

By on October 16, 2010

Yesterday, we reported that Ford and Mazda will be parting ways completely, after having lived married, but separated for a while. Ford will retain a token “3 percent or less” interest, why is anybody’s guess. Question for Mazda: What now? In January, we said: “What Mazda needs are strong partners in strong markets.” Back when, the Nikkei [sub] thought Mazda could get closer with Toyota, based on the fact that Mazda decided to procure a hybrid system from Toyota. That alone doesn’t make for a marriage. You won’t marry Safeway, just because you shop there. Toyota wants to become the systems house for hybrids, just like BMW will sell its engines to anyone with money. (Read More…)

By on October 15, 2010

End of 2008, Ford was in dire need of cash and decided to sell off a 20 percent chunk of their  33.4 percent holdings in  Mazda. Both promised that their cozy relationship would not suffer over something mundane like money. Of course, it wasn’t so. Their relationship disintegrated in record time. And now, they will make it official. Ford Motor Co. has decided to reduce its stake in Mazda by selling a large portion of its remaining shareholdings to Sumitomo group firms and other companies with which Mazda enjoys close business ties, The Nikkei [sub] just learned. (Read More…)

By on August 12, 2010

We had been reporting for quite a while that estranged Ford and Mazda had filed for divorce that would annul their three-way ménage with China’s Changan. If you’ve ever been through a divorce (don’t remind me) you know that that can take a while and can drive you bonkers. Time for a celebration: (Read More…)

By on May 29, 2010

Actually, he’s been broke for since last October.

“About four months ago, I ran out of cash,” Musk wrote in a court filing with the Superior Court of Los Angeles on Feb. 23. “I had to obtain emergency loans from personal friends. These loans are the exclusive source of cash I have. If I did not take these loans, I would have no liquid assets left.” Tough when you make only 8 grand a month and have two high maintenance women. (Read More…)

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