Another Iraq Casualty: U.S. Auto Industry
by Jesse Jackson
One casualty of the debacle in Iraq seldom gets much press, but the inevitable focus on the mess in Iraq too often overshadows other vital challenges.
The American automobile industry is hemorrhaging. Today, Ford will announce that it will offer buyouts to 85 percent of its salaried work force. Ford is looking to lay off a staggering 52,000 employees by September 2007. Chrysler has already been merged with the German automaker Daimler-Benz. General Motors is gushing red ink. (more…)
