American Auto-Makers Cut Jobs

With the recent announcement by Ford Motor Company that it will cut 30,000 jobs and close many plants in the U.S., Newsweek has an interesting column about how the American Jobs Creation Act of 2004 allowed the company to get tax breaks, while at the same time laying off workers. The article, entitled "Tax Holiday" can be accessed by clicking here. Ford is not the first American auto-maker to cut jobs recently as DaimlerChrysler will also eliminate 6,000 jobs and GM announced in November that it will cut 30,000 jobs and close 12 North American plants by 2008.

--Tom Hayes