The whole aftermarket is in trouble. If you look for a reason, look at who they are selling to. When the traditional market was stong everyone made money. Then the manufactors decided to sell to the discounters at lower prices. Then to the two stepper. It seems that everyone was and is concerned with volume, that everyone has lost sight of profit.
Mead came to tenneco with a record of finacial genius. Mead came in as Walsh's right hand. The things that Walsh was weak in Mead knew well. Unfortunately Walsh died of brain cancer soon after taking over Ten. He was a very great man who believed in employee empowerment. His stradegy made good reading and during the time he was there he did wonderful things. Walsh came to Ten. with a clear record of turning around companies and building them into greatness again. Now I don't have a clue where Tenneco will go from here, but I think the stock is a speculative play at its current level. I think maybe its time to buy the next dip under 3 and Look to hold awhile or swingtrade for pennies. I cannot be sure but I do see a potential here for in at 2.85 - out at 8.00.....within 18-36 months. Note the words speculative and potential. all my opinion and what do i know?