You hit the nail on the head with this statement. I don't think it can be summed up any better!
Is it too late? I hope not! There are a lot of good and talented people with the desire to make something of this organization. All we need is LEADERSHIP and some cohesive management effort to get us there. A VISION FOR THE LONG TERM FUTURE would help.
I know that "the street" is important, but we gotta have something for people to buy into. Products and service and value are the key. WHAT DOES the customer need and want? This IMHO is the key to being successful.
Market share is one measure, but what is the size of that market? Going back to the early '80's, 50MM units + was the ride control market in US. It's now down to less than 32MM. Granted the market share has increased, but in an ever declining market. Replacement rates have also declined. Call it a double whammy.Exhaust has good product lines, but using a lower gauge metal in the muffler puts an average on vehicle life of 24 months for the product all for the sake of short term profit vs. the reputation of the product.Automotive has had several chances to diversify or expand their base from ride control and exhaust to motion control and noise cancellation technology. They have not capitalized on the opportunities to expand their base companies. Analysis paralysis and egos always get in the way.There are opportunities, but the management is too busy focusing on narrow issues rather than the big picture. This is made even more interesting since sales and marketing upper management (day to day guys) has limited aftermarket experience and won't listen to the folks who know the markets.Tenneco Inc. has no track record running companies in the long term for profit. Look for more acquisitions or spins this year so as to cover up the effects of mismanagement in transition and reorganization costs.
I agree with your observation. I also have to wonder how the rest of the operations are performing in automotive. Word is that Europe is not making the numbers either. Don't know the bigger picture with packaging, but automotive will not have much to offer.