Someone was listening (or possibly just following sound economic ideas).
Mazda Motor Corp bought back 6.87-per-cent of its outstanding shares for 17.8 billion yen (184.26 million dollars) through off-hours trading at the Tokyo Stock Exchange Wednesday, it said.
The Mazda shares were sold by the second-largest US automaker Ford Motor Co, which decided to cut its 33.4-per-cent stake in Mazda to 13 per cent to raise funds.
The rest of the shares are to be sold to other investors.
The two companies retain their business partnership, with Ford still being Mazda’s largest shareholder.
They got it mostly right. Now they need to pawn off the other 13%.
In other auto news, Mitt Romney wrote an OpEd that is slightly kinder to the big three than I was, though not by much. Definitely a short RTWT piece.