Document Ex0n8E9xLqQR7eNXk8bv5w09L

Dana Corporation - History Page 8 of 14 "New orders,1 answered Spicer. `And where are your bills?' For answer Spicer opened a drawer and showed Dana a bare handful of invoices. The huge plk of orders next to the small stack of bills was all the encouragement Dana needed to become involved In the business. In exchange fora controlling interest in the company, Charles Dana lent $25,000 to Spicer, ther dedicated himself to leading the company through its hard time. Dana was no engineer, but he was a great salesman. Convinced that Spicer's universal Joints were without equal, he proceeds to share his opinion with the leaders of the automotive world, with dramatic success. Dana a)30 knew how to motivate people and win their loyalty. He set up a range of benefits for Spicer people, including a group-insurance plan, an employee-stock-purchase plan, and an inhouse publication, The Drive-Shaft. In addition, plant and equipment was invested in, cafeteria facilities were improved, houses were built and sold cheaply to Spicer employees, food was bought in bulk and sold at cost, and a course of seven lectures in Modem Production Methods was offered at no cost to management, foremen and supervisors. With Charles Dana in charge, and with a surge in demand in the automotive industry because o World War I, Spicer was soon back in the black. In 1916, with the help of Charles Merrill of Mart Lynch, the company was re-organized as the Spicer Manufacturing Corporation. The new corporation boomed and Dana took advantage by acquiring a series of complementary automotive Suppliers, including Chadwick Engine Company, Salisbury Axle, Sheldon Axle, Paris Pressed Steel, Snead & Co, Almetal and Brown-Upe. In the twenties, Dana also led the company overseas, expanding a licensing agreements and acquiring interests in Hardy Spicer in England, Societe Spicer Glaenzer in France and Hayes Wheel and Forging in Canada. Lawyer, rancher, soldier The only son of a successful banker, Charles Dana was an active man, with wide interests. Afte studying liberal arts at Columbia University, Dana entered Columbia Law School, then practiced law in New York. He was deeply interested in politics, running campaigns for Teddy Roosevelt, and himself being elected three times as Republican member to the Assembly of the New York Legislature. By 1908, at the age of 27, Dana was already president of two companies, the New York & New Jersey Water Company and the New Jersey Suburban Water Company. Dana also served for eleven years as a farrier in the New York National Guard, and wa8 an exp marksman. He made a habit of going each year to the Corralitos Ranch in Chihuahua, Mexico, t work as a cowhand at roundup and branding time. Driveshaft The Driveshaft, Spicer's in-house magazine for the South Plainfield workforce, arrived in Jenuai 1917 with the following explanation of its purpose: 'Each month it is planned to issue this sheet keep us informed as to what those in other departments are doing, social doings, the Company' plans, and information that otherwise it would be difficult to pass around, and in general to add t the fellowship, good will, comfort and pleasure of those connected with this Company.* As the company expanded with acquisitions and new plants, the Driveshaft kept Spicer people i the know. The magazine also undertook a campaign to promote safety in the workplace, which paid off handsomely a3 the number of injuries decreased. The Driveshaft was succeeded by the Drive Line, and then by the Dana Digest Today more than twenty in-house magazines are published by Dana people. http://www.dana.com/overview/history/history 1 .shtm 3/19/2004