Submitted by Dad2Three on Fri, 08/01/2008 - 15:34.
The Knoxville News Sentinel is reporting the following: "Newell Rubbermaid Inc., which has operations in Blount County, is in a “precarious situation” due to exposure to rising costs, after second-quarter profit dropped 35 percent, an analyst said Friday.
On Thursday, the maker of Sharpie pens and plastic storage products backed plans to raise prices to help cover rising oil and natural gas prices that have boosted the cost of resin used in many of the company’s plastic products.
Newell Rubbermaid also offered a third-quarter profit outlook that missed Wall Street expectations."
Complete story here.
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