It's become commonplace recently to read headlines of massive layoffs at American car makers GM and Ford. So it's refreshing when you hear of jobs created in this ailing sector like Japanese carmaker Honda Motor's June 28th announcement it will create nearly 2,000 jobs in Decatur County in Indiana, where it will build a $550 million auto plant. The site is expected to produce nearly 200,000 cars a year. The new plant will be Honda's sixth in North America and is expected to open in the fall of 2008. The new auto plant is part of Honda's aggressive growth strategy to increase U.S. sales by 16% by the end of the decade. Looks like Honda is well on its way to its ambitious goal. The American public is purchasing Honda automobiles at a frantic pace for its durability and affordability. Honda had its ninth straight year of record annual U.S. sales, with 1,462,472 units in 2005. Meanwhile, its American competitors GM and Ford are floundering. Credit rating agency S&P downgraded on June 28 Ford's debt rating one notch to a lower junk status of B+. Sadly, S&P rates Ford's debt one notch higher than GM. — Gerald Magpily
See TheRepublic.com article
See Washington Post article
See Bloomberg article via Los Angeles Times
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