Dana Corp files for Bankruptcy

[CHUD]

http://quote.bloomberg.com/apps/news?pid=10000103&sid=a6I_XTCVHya0&refer=news_index

Thanks Ford, GM

 

[Dave]

Yea... I read this (diff article) the other day and was going to post it but didn't get around to it. What i read said said chapter 11 (reorganization) Not chapter 7. Anyway, it's not Ford or GM that is causing the problem but the waning demand due to lower truck sales due to increased gas prices and all the bad press they get when compared to the foreign brands. Also Ford, GM, and DC have been pressuring Dana for lower prices over the past several years. And i'm sure there's a lot more to it also. I hope they can pull out of it as it will keep rippling down through the economy. We've lost too much industry in this country already. They (DC-GM-Ford) all need to sell more vehicle units.

I hope the new vehicles they're coming out with ( Caliber - Patriot etc Ford fusion etc. etc) sell well. If they don't there won't be any Jeeps either. (it's too bad some of these vehicles arn't even made here any more and some Honda's and Toyotas are)... And.......we won't be able to afford anything but a beater or we'll all be in China and India looking for a job..............Sorry - didn't mean to ramble on -

Dave

 

[ohioviper]

Yes this is a shame. I worked for Dana almost 5 years in Columbus Ohio building heavy truck axle and brakes and also drive shafts. The plant was closed 9 months after 911. The stock prices fell from $50 something a share to $17 a share right after 911. They had plans to close 36 plants in 02. Trying to stay profitable. I seen this on the news and its a shame because Dana was a great company to work for and they build top notch stuff. So many imports killing American companys. Wake up America and buy American while you still have a job to buy something.

 

[JeepJeepster]

Gosh... All of this is so true... Reminds me of the Great Depression weve been studying in History lately. I hate to see so many great companies go down b/c of gas prices and terrorists, such a shame.

 

[MoladoGuy]

(it's too bad some of these vehicles arn't even made here any more and some Honda's and Toyotas are

Time to look into buying an FJ!!