Hedging Pays Off at Honeywell as Dollar Surge Punishes P&G
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Procter & Gamble Co., by holding off on currency hedges, missed the benefits reaped by Honeywell International Inc. -- which heeded warnings at a crucial time.
Back in October, Honeywell Chief Executive Officer Dave Cote reversed his policy and started using hedges because he was -- rightly so, it turned out -- concerned the euro may sink further against the dollar.