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BUSINESS BRIEFS.(TO THE POINT)

Investor's Business Daily

| October 01, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

TRANSPORTATION

Ford cutting 2,800 by year's end

The automaker will cut 1,500 contract workers and 1,300 salaried positions as part of a plan to save 10% in labor costs this year. It's already cut $1.9 bil in costs by revamping production and lowering warranty estimates. Also, union members OK'd a labor deal with Ford and supplier Visteon that lets Ford shut plants employing 4,600.

ArvinMeritor cuts Q4 EPS views

The car parts maker expects to earn 36-39 cents a share in Q4 ex-items, citing higher than expected costs. Analysts expected 44 cents, down 28% vs. a year ago. ArvinMeritor, which is mounting a hostile bid for larger rival Dana Corp., sank 12%.

RETAIL

Wal-Mart, lawyers in tobacco deal

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