Tenneco, like most other automotive suppliers, is suffering from the economic downturn. The company was once a huge conglomerate and slowly sold off all parts of the business except for the automotive group. Somehow along the way they were stuck with a great amount of debt. I don't know if the allocation of debt between the packaging group (now Pactiv) and the automotive group was fair or not - why look back. Debt is not a bad thing for a company because of the tax advantage. The company is trying to get to a comfortable debt/equity ratio and as soon as they do the excess risk burden will go away and the stock price will rise. Or if the economy turns suddenly the stock price will follow. Do a comparison with Tower Automotive (TWR) and you will see their trend follows along with Tenneco's.
People that litter this website with their useless "opinions" don't seem to know much about stock valuation. They certainly know how to complain about how the world cheated them though.
Now_out_of_ten - I am certainly glad you are some other company's problem. Please recruit all the other crybabies along with you.
Hey, why the hostility directed at me at the end of your posting. There are other things aside from the raw numbers that tell a stocks story. The historical perspective I presented is factual. I dare you to prove me wrong. It happened at last years layoffs, with the sears announcement, with the third quarter annoucement. The stock pops up and then just pops.
AS far as the other information I posted, the character of the management is critical to an organizations success. I feel like it is 1992 again and I am saying "Character matters" again. It is undeniable to anyone who has worked there that the management is in a constant reactionary mode. Again I defy you to prove otherwise.
I did not deserve you comment and as far as being someone elses problem. I am now working for one of the OEMs Tenneco suppliers and to date I have met and exceeded every expectation put in front of me and been given an unscheduled, and un requested, pay raise for my work.
Criticize me when I am wrong, fine. Get nasty when I P#SS you off, I deserve it. But your snide comment was un called for.
Why the hostility? Because I have been reading this message board on and off for six months and I get tired of seeing your ID, as well as others, next to negative comments about Tenneco. If we could only get the rest of the whiners "out of ten" we would have a much better company. I happen to be a happy Tenneco employee and work my tail off everyday to protect my job as well as the other 20,000 employee's jobs. It's about attitude, what I do counts!!!
All companies have problems; they are inherent in the size and scope of our operation. Please do yourself a favor and step outside the box you live in...you'll see Tenneco has a bright future.
Tenneco has the best brand names in the auto supply chain. Seeing how customers rate ride comfort number two in importance and our exhaust systems are well ahead of environmental standards, we sit in a nice position to succeed.
Regarding the stock price, you act like price fluctuation is exclusive to Tenneco and the management team is always at fault for negative trends. The beauty of the stock market lies in the foundation that it is all based on speculation (estimated earnings, market risk beta...). If you don't know what these things are, library cards are free. Anyway, if the market was easy to analyze or manipulate, we would all be rich or poor depending on how you look at it.
Sure management is reactionary; this industry has changed tremendously over the last decade. You try new ideas and decide which ones work and which ones don't. MF has been preaching the same tools since I have been working here. Do you think Ford's recent decision to oust Nasser was reactionary?
As you and all the rest of the complainers have the right to criticize Tenneco, I am entitled to criticize you for the comments you have made against the company that provides me with a future. You are all a bunch of backseat drivers who were never smart enough or ambitious enough to take responsibility for making decisions...it's easy to sit back and point the finger. You can take the easy road and be part of the problem or you can step-up and be part of the solution. You are right, character matters...I question the character of all those that accept a paycheck everyweek from the company they vilify at every chance!!! Was it your decision to leave Tenneco???