ECONOMIC ANALYSIS: Fate of U.S. auto industry is controlled by investors

On the same black Thursday that Borg Warner announced it would close its 780-worker Muncie manufacturing facility in 2009, the price of its stock surged 6 percent. Are the traders on Wall Street heartless, or prejudiced against Muncie, or do they simply like bad news? In truth, none of these answers is probably correct, although we really have no way of knowing. But the divergent reactions of stockholders and workers and their families to the news that nearly a century...

 

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