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Ford cuts Mazda stake at a cut-rate price (from Corporate Dealmaker)

Big 3 automakers Ford Motor Co., Chrysler LLC and General Motors Corp. are running out of cash amid plunging auto sales and economic turmoil... and the government doesn't seem likely to give them the $25 billion piece of the Wall Street bailout pie they're asking for. In the meantime, Ford said it is cutting its 33.4% stake in Japan's Mazda Motor Co. by about 20%. The deal should net Ford about 52 billion yen ($540 million)...

Posted on November 18, 2008 8:47 AM

GM sells Suzuki stake for $230M (from Corporate Dealmaker)

Desperately in need of cash, struggling U.S. auto giant General Motors Corp. is selling its entire 3% stake in Suzuki Motor Co. back to the minicar specialist for ¥22.37 billion ($230 million).Working with each other since August 1981, the companies said in a statement that they will continue with existing...

Posted on November 17, 2008 8:55 AM