Sunday, December 28, 2008

No joy in Dow-ville as K-Dow goes kaput

Early this morning we were reading that Dow Chemical Co. had taken out full-page newspaper ads in Kuwait that were characterized as an "open letter" to the citizens there, telling them that the partnership between that country and Dow was a wonderful, wonderful, honorable and good thing.

That's always the last gasp of just about any corporate endeavor about to head south.

And sure enough, some 12 hours later, we read via Bloomberg that all bets are off on the $9 billion venture known as K-Dow.

This isn't good news for the local workforce in the Greater Brazosport Area as a number of Dow employees avoided getting whacked cause they were working for the new K-Dow operation.

And if you own Dow stock, fasten your seatbelt.

The stock market watchers at 24/7 Wall Street say, "Look for Dow to drop below $15 this week, and it may not recover for months."

1 comment:

Anonymous said...

This is really, really bad news. I'm worried about lots of buddies out there.