Wednesday, June 06, 2012

Whirlpool is a major recipient of corporate welfare

This is not new information, but it's good to see it reported on TV:

"Whirlpool Corporation with global sales of $18 billion in 2010 paid $0 in
federal taxes and received a refund of $64 million.

Whirlpool received $19 billion in federal stimulus funds and then closed
plants in the U.S., including the one in Benton Harbor MI."

----Democracy Now, 5/10/12

Whirlpool Falls to Levels Below Book Value

In trading on Monday, shares of Whirlpool Corp (NYSE: WHR) crossed below their last reported book value — defined as common shareholder equity per share — of $56.56, changing hands as low as $55.82 per share. Whirlpool Corp shares are currently trading down about 3.4% on the day. The chart below shows the one year performance of WHR shares, versus its 50 and 200 day moving averages:

Whirlpool Corp Moving Averages Chart

Looking at the chart above, WHR’s low point in its 52 week range is $45.22 per share, with $82.99 as the 52 week high point — that compares with a last trade of $55.81.