Dow Chemical Raises Prices for Second Time in a Month

[tpsbmam]

Source: NY Times

The Dow Chemical Company said Tuesday that it was raising prices for the second time in a month to offset a “relentless rise” in energy costs, a sign that companies may increasingly have to pass on price increases to their customers.

The increase of as much as 25 percent — the largest in the company’s history — comes after a 20 percent rise last month that the company said did not go far enough given the continuing surge in energy prices.

Dow, which makes products ranging from pesticides to plastic wraps, also said it would impose freight surcharges of $300 for each truck shipment and $600 for each rail shipment beginning Aug. 1 in the United States. In addition, it will scale back production in plants across North America and Europe.

.........

Analysts said they expected other companies to follow suit. When Dow announced last month’s increases, it spurred a series of similar increases by other chemical manufacturers, including DuPont and BASF.

Read more: http://www.nytimes.com/2008/06/25/business/25dow.html?ref=business

[fasttense]

1. Hmmm, so can we raise our wages as much as 25% to keep up

with inflation costs? I guess only corporation CEOs can get paid more and maybe our congress.

[bluerum]

2. You should be ashamed! A good corpo citizen would be willing to GIVE UP 25%

of their salary to help improve the corpo bottom line.

Never mind that the dollar and everything you own has already been devalued by 25%. That's right. Your net worth and salary dropped while you were sleeping.

Yay! Republo-conservo economics 101 - republo-conservo economics in action! Perhaps murca has finally absorbed this critical learning about republo-conservo values. Nothing like on the job training.

[uppityperson]

3. Wondering if rising oil prices is affecting their material costs too.

It is going to be wild.

[taught_me_patience]

4. The fed has really lost it.

Inflation is creeping in everything in life. But according to Bernanke, inflation is ok as long as worker pay doesn't inflate.

I'm getting sick of this shit...:eyes:

[Tashca]

5. Jeebus!!

45% increase in two months????.....all three of these companies manufacture many things we just take for granted......this is gonna hurt!!!

[skoalyman]

6. I know we'll have a slim Christmas shopping sales this year.

:popcorn: cue the tumbleweed's rollin cross walfarts empty parkin lot.