A few years ago, predicting Delphi Corp. and Visteon Corp. would face severe difficulties did not require a graduate degree in economics. Most of their sales were to General Motors Corp. and Ford Motor Co., respectively, and both were suffering the effects of deep cuts in vehicle production. But declaring in 2004 that Dana Corp., a fundamentally strong company, would be bankrupt within 18 months would have required the kind of crystal ball any automotive forecaster would sacrifice a ...
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