Ocrane
09-15-2006, 01:11 PM
didnt know if anyone else saw this....
DETROIT - Ford Motor Co. said on Friday it will slash $5 billion in costs and one-third of its work force as it warned its auto business would not make a profit in North America for another three years. The automaker also ruled out an immediate sale of its Jaguar brand, disappointing investors who wanted Ford to press ahead with asset sales to raise cash. Ford shares dropped as much as 15 percent Friday, the biggest single-day percentage decline in almost four years.
http://news.yahoo.com/fc/business/automobiles_and_driving
DETROIT - Ford Motor Co. said on Friday it will slash $5 billion in costs and one-third of its work force as it warned its auto business would not make a profit in North America for another three years. The automaker also ruled out an immediate sale of its Jaguar brand, disappointing investors who wanted Ford to press ahead with asset sales to raise cash. Ford shares dropped as much as 15 percent Friday, the biggest single-day percentage decline in almost four years.
http://news.yahoo.com/fc/business/automobiles_and_driving