Dana Incorporated (2006)

Dana Incorporated's 2006 bankruptcy collapsed a 102-year-old auto parts manufacturer serving the Big Three. The company made axles, driveshafts, and structural components. When GM and Ford cut production, Dana's revenue evaporated while fixed costs remained. The company emerged from bankruptcy in 2008 after restructuring $2 billion in debt and closing multiple plants. Dana survived, but the 2006 bankruptcy demonstrated how auto supplier economics transmit OEM problems instantly.