DEARBORN, MI – Why is an industry that spent the late 1990s claiming it no longer was cyclical laying off thousands of workers during a mild economic downturn? Because many companies are carrying too much debt and reacted too late to warning signs, says the top executive of a major automotive supplier. “If it’s such a mild downturn, why all the fuss? Well, the industry has changed in 10 years,” says BorgWarner Inc. Chairman and Chief Executive John F. Fiedler. “Many companies got caught ...
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