Re: Not looking good for ford!!!
8/18/2006 10:36 PM
What kind of person gets his jollies off on this kind of news?
Did you even read this before posting?
Bank of America analyst Ron Tadross said the cuts are a sign that "Ford is getting more realistic about its share trajectory." He said he would not rule out similar cuts at rival General Motors Corp., which is in the midst of its own restructuring.
Looks like GM beat Ford to it,
General Motors to close 9 plants, slash 30,000 North American jobs
All told, GM will reduce output by some 1 million units. Wagoner also said more white-collar job cuts were planned for next year. Since 2000, GM has cut its salaried work force by 32 percent—to 36,000. By the end of next year, Wagoner said, the reduction will reach 40 percent—or another 2,500 jobs.
The downsizing measures are the most extensive since GM announced in the early 1990s that it would close 21 assembly plants and manufacturing operations, and cut 74,000 hourly and salaried jobs by the middle of the decade. With the new round of cuts, GM will reduce its blue-collar workforce to 86,000 US workers by the end of 2008, roughly the number of people it employed in Flint, Michigan alone in the 1970s. At its peak, GM employed more than 600,000 American workers.
The virtual collapse of GM highlights the general decline in the position of US industry in the world market. Founded in 1908, GM grew to become the world’s largest industrial concern, dominating the global auto market in the 1950s and 1960s. By the 1970s, however, more efficient and higher-quality Asian and European competitors challenged GM and other US auto makers, not only on the world market but within the US market itself.
http://www.wsws.org/articles/2005/nov2005/gm-n22.shtml
I suppose this is some real funny stuff to you.