DOCTORING THE DOW

IT'S A NEW AGE: LOSERS, METAL BENDERS NEED NOT APPLY

The Dow Jones industrial average checked in for cosmetic surgery last week and had four stocks liposuctioned from its bottom end. Is it time for a face-lift too? The "industrial" description is starting to look a little odd atop this svelte new body. Maybe it should be renamed Dow Lite.

Of course, no name change is really forthcoming. The Dow keepers--editors at the Wall Street Journal--have been softening the average's smokestack image for years, and no one seems terribly confused. Still, it's notable that today only half the Dow companies are true metal benders, a testament to sweeping changes in the...

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