As one powerful nation fades away:
Ford Motor Co. plans to eliminate about 4,000 white-collar jobs in North America early next year as part of what the automaker has called a painful but essential restructuring plan. [AP story]
General Motors Corp is expected to unveil sweeping plant closures and job cuts in coming days, in response to falling market share and revenues, analysts say. [Economic Times]
Others rise to take its place:
Toyota Motor Corp. grabbed more U.S. retail market share than Ford Motor Co. in early November and it was less than one share point behind General Motors Corp., J.D. Power and Associates said on Friday. [Reuters]
Automobile exports from India moved up 33 per cent in the seven months of this fiscal, boosted by healthy demand for two-wheelers and commercial vehicles... [Economic Times]
China will buy 70 Boeing 737 airliners, a U.S. official said Saturday as President Bush arrived on a visit expected to include discussion of Beijing's surging trade surplus with the United States. [AP story]
2 comments:
Our Ford Plant here in Lorain is closing on 12/23/05. There have been reports that HUNDAI is looking to move in.
According to The Morning Journal Ford might be negotiating with Hyundai or Kia to sell the plant.
750 jobs will be lost in that closing, and Lorain will lose about $3 million in tax revenue. They had to pass an emergency tax hike to cover the shortfall.
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