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Record losses for US automaker Ford
by wsws (reposted)
Ford Motor Company announced last week that it lost $12.7 billion in 2006, making it the worst year in the company’s 104-year history. The massive losses are a further blow to Ford, which is already engaged in a retrenchment program that includes a series of plant closings, mass layoffs and employee buyouts designed to transform the former US industrial icon into a relatively marginal competitor in the US and world auto market.

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