The Revolving Door At Rubbermaid

It's been a scorcher of a summer, and a particularly uncomfortable one for Rubbermaid Chief Executive Wolfgang R. Schmitt. On July 18, Schmitt announced that earnings at one of the most admired pillars of Corporate America plummeted by 49% in the second quarter, to $29 million. Worse, the maker of those ubiquitous plastic housewares and toys predicts that its earnings could be flat this year because of soft household spending and increased resin prices. It's the first earnings setback since 1980 at Rubbermaid Inc., which has long been held up as a model of predictable growth, creative management, and rapid product innovation.

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