Ford announced that they are offering early retirement and employment buyouts to all of their hourly employees, of which there are approximately 75,000.
Stock was down 10 cents on the news.
Yahoo News item through AP:
http://news.yahoo.com/s/ap/
20060915/ap_on_bi_ge/ford_cuts
In addition, Ford is considering selling off its Aston Martin division (this was the car that was made famous by James Bond).
BBC news here:
news.bbc.co.uk/2/hi/business/5302310.stm
(In the interest of full disclosure, I own stock in Ford. This news item is not a recommendation to buy, sell, hold or short Ford stock.)
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