Nothing says “Buy a Ford!” like unhappy kids and a failed marriage, apparently.
Ford Motor Company is making waves in advertising circles — and confusing everyone else — after creating a car commercial in the form of a 16-minute short film that centers around the breakup, and sort-of reunification of an average Danish family.
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…)
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…)
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…)
“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…)