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By 1988, the company was losing $2 million per day. After being pressured by the banks, it was decided to sell off the oil business. Tenneco Oil Exploration Company was split up and sold off to multiple buyers. By 1994, Tenneco decided to begin getting out of the agricultural business and agreed to sell 35% of the now named Case Corporation.
Discounts and allowances are reductions to a basic price of goods or services.. They can occur anywhere in the distribution channel, modifying either the manufacturer's list price (determined by the manufacturer and often printed on the package), the retail price (set by the retailer and often attached to the product with a sticker), or the list price (which is quoted to a potential buyer ...
Tenneco was named one of the 100 Best Managed Companies in the World four times during his tenure. At Tenneco he was elected chairman of both the Business Roundtable (1998–1999) and the National Association of Manufacturers (1994–1995). Before Tenneco, Mead was executive vice president and a member of the board at International Paper.
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