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Tenneco Inc. Message Board

  • axelmy axelmy Nov 19, 2009 8:35 AM Flag

    TEN stock manipulation.. SEC filing

    http://www.sec.gov/complaint/selectconduct.shtml

    Maybe all who thinks that there is something not right should file a complain here, who knows.

    I am sure the MM are reading this forums too.

    Any comments?

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    • ...................

    • When you don't report the true scrap count each day or monthly the only thing that rises is the productivity and adding in false 5%-10% productivity plant wide , Your raising stock prices it may make the share holders happy, and of course the plant manager and his little followers look good to corporate but figure this, your making 10-20k pieces of scrap a month so figure each part goes through the process of being made .Which also it depends on the part that is being made as well. So it costs the company 5.00 to make the part now you have 5.00x 10,000 scrap pieces so thats 50,000k a month lost and more if you have to rework it all again which you usually do..so your looking at 500k loss a year just from one line in the plant. So you don't add in the true scrap count you drop it down to 1,000 bad parts and fudge the numbers by 5%-10%. So now it looks like each month that line is making profit when instead its losing one hell of alot and noone see this. Share holders don't see it they just see their investment rising so the company just covers their ass each month hoping to get a break when the final result and at the end of the day you now you dont have just a black hole your chances are huge with the securities commsion if they looked deep enough.

      • 1 Reply to dunkaroo54
      • I agree not counting stock is stock manipulation , I have always wondered how the company can promote profit when each and everyday they have 2 Towmotor drivers dropping scrap and if someone looked in salvaged area they would see hundreds of thousands of dollars wasted. How about we make good product instead of scrap and bring back Rodger Raja so we can win awards again. If the securities and exchange commission looked at everything they would file a judgement that is forsure. I agree with axlemy comepletely.

 
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