How do I enable automatic folding in Vim? set foldmethod=syntax doesn\'t seem to do much of anything.
The way to enable folding in new versions of Vim has changed (I'm using vim 7.4). Now you should create the file ~/.vim/ftplugin/javascript.vim (on linux) and add your code folding instructions as explained in Eric Johnson's answer. File type detection and loading plugins for specific file types must be enabled by putting this into your .vimrc:
filetype plugin on