Ford chairman William Clay Ford Jr. has said that his company would announce a plan for its American operations in January that includes significant plant closings and job cuts. The news follows on the heels of GM's problems, as well as issues with both companies' part suppliers. Both Ford and GM, the only two domestically owned automakers, have been buffeted by high labor costs and the continued defection of American customers to rivals like Toyota.
See "Ford Reports a Loss and Expects 'Significant Plant Closings'", Danny Hakim, The New York Times, October 20, 2005