Dana Corp.

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Dana Corporation
Type of Company	Public
Founded	1885
Headquarters	Toledo, Ohio
Products	Automotive
Slogan	People Finding A Better Way
Website	www.dana.com

Dana Corporation is an auto parts and systems company currently being reorganized under Chapter 11 bankruptcy law. Suffering from a slump by General Motors, Ford and other carmakers, Dana declared bankruptcy on March 3, 2006. The company, which has 46,000 workers, is listed on the Fortune 500. Originally incorporated in New Jersey in 1905 as the 'Spicer Universal Joint Manufacturing Company', named after Clarence W. Spicer, engineer, inventor, and founder of the company; it was renamed the 'Spicer Manufacturing Company' in 1909. It relocated to Toledo, Ohio in 1928 and was renamed the Dana Corporation after Charles Dana, who joined the company in 1914 and became president and treasurer in 1916. Key products include axles, drivetrain products, pickup frames, engine bearings, gaskets, and brake lines. The stock has traded on the New York Stock Exchange since 1922; stock prices were as high as $60 per share in 1998 but fell to about $1 by the time bankruptcy was declared. Dana Corp. was dropped from the Standard & Poor's 500 index on March 2, 2006.