Our thrust is to keep bringing out new products.
Most of our businesses performed exceptionally well in spite of higher raw material costs and weak European currencies, with 11 of 18 strategic business units delivering double digit earnings growth.
A company can operate successfully for 200 years only by continually reinventing itself.
We expect the challenges we faced in the second quarter to continue, exacerbated by slowing volumes from the growing effects of the General Motors strike and the Asian financial crisis.
Given the success of our discussions to date, we expect to be able to conclude one or more of these alliances by the end of this year.
Although the polyester industry and U.S. agriculture markets remain weak, most of our other businesses began to see some volume improvement.
This is very early in this industry, ... It's like that first telephone call -- try to imagine the cell phones (of) today. We don't know exactly how it will play out, but we know the technology is powerful.
Taking actions that result in people losing their jobs is the hardest decision we as leaders will ever have to make, ... these actions will enable us to more rapidly achieve our goal of sustainable growth.
It's a great time to reinvest in our company, ... This action is yet another reflection of our commitment to enhance shareholder value.
Industries important to many of our customers -- electronics, automotive, textiles and chemicals -- have been particularly affected by the economic downturn, ... This has temporarily reduced fundamental demand for our products.