Isn't it a total marical how these clowns have managed or mis managed this once great company into almost total ruin. All the spinoffs are doing better than the parent company. Look at cse nns and elpaso gas. Meade,Evans(who by the way left cse because he didn't get the presidents job)thank God. Its time to BACK UP THE TRUCK AND GET RID OF THESE MORONS. Value to us shareholders.
Yes!!! I have been calculating my losses on a daily basis. From where I stand I don't see things getting any better for quite some time. Sad to say that the company you work for looks like nothing but a good short. Good Luck ex-Mobil employees!!!
And which management might lead us to that--Surely not the likes of those now! Wambold, Lazaredes,Morris, and Hart? We need to be sold to a company or get a manager that will rid us of this incompetence. Staff meetings here are like a freak farm at the circus.
I remember the dark days at Tenneco Energy before the deal with El Paso closed.
We had these monitors in the building that showed the Tenneco stock price and the EPG stock price, updated throughout the day.
Every day for three or four months we watched as Tenneco's stock fell and EPG's climbed.
I remember vividly the day EPG's common share price overtook Tenneco's. It was like a stab in the back after all we had worked for. That was the worst day of the whole sorry ordeal. The gloom in the air was so thick you could taste it.
Now, almost three years later, Tenneco continues to slide into the abyss while NNS, EPG, Case, et. al. have prospered. Dana and his overpaid cronies destroyed a company and a brand that meant something all in the name of greed and that elusive "shareholder value."
When they moved to Greenwich, Dana allowed a guy to stay on payroll with a unique job description: write a book glorifying the "Tenneco Story." It never got written, probably because there was no happy ending to be found anywhere inside Tenneco Inc.
automotive with as much debt as possible, automotive goes bankrupt, can't repay debt,and packaging walks away with a clean balance sheet. Other than the bankers who lose, the only others that lose are the employees of automotive who quickly become unemployed, as no new contracts are awarded. No severance needs to be paid because automotive went belly up. NO CASH!!
These comments are purely speculative and for entertainment purposes only.