“ Questions continue about the possibility of Whirlpool Corp. losing its contract to manufacture refrigerators for Sears, with Whirlpool officials continuing to manufacture vague answers to the questions. In February, Whirlpool employees told The City Wire they were told the Sears contract was in jeopardy. During a Feb. 12 series of meetings at Whirlpool’s Fort Smith plant, Whirlpool managers, including plant chief Ken Thompson, told Fort Smith employees that 2009 marks the last year of the refrigerator contract with Sears. Whirlpool spokesman Jill Saletta said in February that Whirlpool would continue to produce products for Sears but refused to say if that would include refrigerators. Whirlpool makes several products for Sears in addition to refrigerators. Now comes David MacGregor, a research analyst at Independence, Ohio-based Longbow Research, who asked Whirlpool officials during a July 22 second-quarter earnings conference call about the Sears contract. “I wonder if I could just get you to address a point that you didn’t cover in the call, and that is the Sears relationship and what happens with Kenmore in 2010? That’s probably the issue on most investor’s minds these days and just wondering if you could give us some sense of magnitude with respect to earnings and revenue impact,” MacGregor asked in this transcript from Seeking Alpha. Michael Todman, the president of Whirlpool-North America, said the “relationship with Sears is strong” but that the company does not have a contract in place for 2010. „
Questions linger about Whirlpool, Sears relationship - The City Wire
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