You mentioned Caterpillar was difficult to work with due to their willingness to accept lower prices from offshore. Was Dana Off-Highway typically a premium or value player? I'm familiar with Allison's business, which charges a premium for a quality product. Is Dana similar, or are they more on the value side?

That was true. Dana has been around for over a hundred years, and they have a great brand image. There are many customers in different markets who recognize Dana as the industry leader. In some early negotiations, customers wanted a premium product. We weren't going to provide them with a premium product, knowing that down the road, they might pull it in-house or outsource it. That's why we insisted on exclusive rights for a certain period because they were getting a premier product, and they knew it. The only way to protect our interests was through exclusivity agreements. Dana, whether it was an axle, a transmission, or a torque hub, had competitors, but there were only a few of us, Dana and a few others, who were the go-to providers for a premier product.

We were thinking the same thing. Have you thought through that or found answers as to why you might believe that's the case? Is it just your view on this? We're trying to answer the same question.

The rumor on the street, and I've had many conversations with some of my colleagues who are still there or have recently left, is that Dana needed that cash to support their automotive side of the business. That was a real surprise to me. I thought, why not just sell off the automotive division that's not making money and hasn't been profitable for probably the last decade? Just get rid of it and keep the profitable business to grow it.