For all the good Bush says our economy is doing, it sure seems like we hear
alot of bad news:

Ford Motor Co., the nation’s second-largest automaker, said Monday that
it will cut 25,000 to 30,000 jobs and idle 14 facilities by 2012 as part of
a restructuring designed to reverse a $1.6 billion loss last year in its
North American operations.

The cuts represent 20 percent to 25 percent of Ford’s North American work
force of 122,000 people. Ford has approximately 87,000 hourly workers and
35,000 salaried workers in the region.

Ford shares rose 68 cents, or 8.6 percent, to $8.58 in morning trading on
the New York Stock Exchange.

Earlier Monday, Ford reported earnings of $2 billion in 2005, down 42
percent from last year’s profit of $3.5 billion. It was the third straight
year the automaker has reported a profit, but gains in Europe, Asia and
elsewhere were offset by a loss of $1.6 billion in North American
operations.

Plants to be idled through 2008 include the St. Louis, Atlanta and
Michigan’s Wixom assembly plants and Batavia Transmission in Ohio. Windsor
Casting in Ontario also will be idled, as was previously announced following
contract negotiations with the Canadian Auto Workers. Another two assembly
plants to be idled will be determined later this year, the company said.

The other seven facilities that will be idled were not immediately
identified.

A total of 14 facilities, including seven assembly plants, will cease
production by 2012, Ford said.

Article continues

here.

If people don’t think this will have a hard impact on local economies then
they better think again. One of those plants, Batavia Transmission, is in my
area and I know quiet a few people that work there. This is not the first time
they have been hit but this is by far the hardest hit.

Remember when we were told we should retrain for tech jobs? Now those are
also going overseas. Basically all that is left for the American worker is
service sector jobs. Would you like fries with that Whopper?