DANA files for bankruptcy

[powerboatr]

msn.com
so who will build our axles now???

http://moneycentral.msn.com/detail/stock_quote?Symbol=DCN

Dana Corporation: All Recent NewsAll recent news Earnings news Dana seeks bankruptcy protection for US operations 02:24 PM Auto and truck parts maker Dana Corp. filed on Friday for bankruptcy protection, the latest U.S. supplier to succumb to declining production at large U.S. customers and high materials costs. Reuters Auto Part Maker Dana Files Chapter 11 01:55 PM TOLEDO, Ohio (AP) - Auto parts maker Dana Corp. filed for bankruptcy protection for its U.S. operations on Friday, joining a growing list of suppliers forced to make major restructuring moves because of the slumping U.S. auto industry. AP Market Report -- In Play (DCN) 11:22 AM Dana Corp confirms its U.S. operations file for chapter 11 reorganization to address financial and operational challenges Co announces that in order to address financial and operational challenges... Briefing.com Dana Corporation's U.S. Operations File for Chapter 11... 11:21 AM ' All Dana Facilities Open, Normal Operations Continue; Company Obtains $1.45 Billion DIP Financing Commitment from Bank Group TOLEDO, Ohio, March 3 /PRNewswire-FirstCall/ --... PRNewswire Market Report -- Short Stories (DCN) 09:31 AM Dana Corp UBS reiterates Neutral. Target $6 to $1. Firm is saying Dana appeared to have sufficient liquidity exiting Q3. The firm says DCN will not achieve significant pension or labor... Briefing.com Auto Makers, Suppliers Down As Woes Grow 03/02/06 NEW YORK (AP) - Lackluster February auto sales and the continuing financial woes of supplier Dana Corp. combined Thursday to pull down the shares of companies ac

 

[95_stroker]

Chapter 11 is re-organization, not liquidation. Looks to me like DANA is still in the axle business.

 

[powerboatr]

one would think with truck sales big and small being what they are that this would not be an issue.

plus all the military trucks parts is parts

 

[JimmyDee]

God bless NAFTA. Not.
Jim

 

[slickrick]

well DANA took a big hit in 03 when DODGE went to AAM for all there axles... all the trucks and jeeps all now have AAM axles.... think of how many jeeps run some kind of Dana axle.... you can still get Dana 44's in wranglers and I think a cherokee or 2 but not for much longer....


This will certainly be a trend.... the "ripple" effect, all those outsourced jobs are going to really cost us in one way or another.... now look at Dana the first thing they cut is pension and benefits.... and now its going to be a bigger strain on the government/taxpayers/social security....... bad times to come..... unfortunately....
SUX

Slick

 

[threejacks]

This could get interesting locally. DANA employees about 1200 at one plant in town and has another plant 100 miles away. Two or three months ago J L French (HQ in Mich.) has two plants here employing 700-800 at one and 400-500 at another filed for bankruptcy. It came out in Newspaper last night that J L French locally owed the City Electric supplier $120,000 and the County supplier about $400,000 and BB & T Bank $25 million.

 

[94f450sd]

i guess its time to start hoarding dana axles and parts

 

[Crumm]

i guess its time to start hoarding dana axles and parts

Don't look behind my shop