The CEO of manufacturing company Polaris is calling an impending tariff increase a catastrophe for his business.
Polaris Industries CEO Scott Wine is flagging major financial implications of the White House's plan to increase tariffs.
In a phone call with CNBC Tuesday, Polaris CEO and Chairman Scott Wine flagged major implications of the White House's plan to up tariffs on Chinese goods to 25%, effective Friday night if the U.S. and China aren't able to strike a trade deal. The CEO also said the increased tariffs could erase a third of the company's net income. The company has an employee stock ownership plan, and in this case employees own 5% of the company. Wine underscored the effect it could have on Polaris's stock, and therefore employees.
Shares of Polaris dropped sharply on Monday after the Trump tweet. The stock is up roughly 21% this year. In the last 12 months, Polaris shares are down roughly 15%.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Bridgewater Co-CEO Eileen Murray Weighs Leaving World’s Largest Hedge FundBridgewater co-CEO Eileen Murray has held repeated conversations inside and outside of the firm about leaving the world’s largest hedge fund.
Lire la suite »
Judge approves Musk, SEC agreement over Twitter use by CEOA federal judge on Tuesday approved a deal struck between Tesla Inc Chief Execut...
Lire la suite »
Watch CNBC's full interview with Dunkin' CEO David Hoffman'Dunkin' is about being bartenders,' Dunkin' CEO David Hoffmann said, elaborating that the difference between a bartender and barista is that bartenders are more authentic and 'gritty.'
Lire la suite »
There are times managers shouldn't panic when their employees quit, says Oracle's CEO'I think if you don't have passion, and you're not excited about the task at hand,' then you're not going to be successful, said Oracle CEO MarkVHurd
Lire la suite »
Glenview’s Larry Robbins says he’s shorting 3M shares, likes healthcare stocks: SohnGlenview Capital Management CEO Larry Robbins said at the Sohn Investment Confer...
Lire la suite »
'Unsophisticated' investors are overreacting to Democrats' calls for 'Medicare for All,' warns ex-Aetna CEOHealth-care stocks are underperforming the market because of investor alarm over political 'slogans' from Democrats, says former Aetna CEO Ronald Williams.
Lire la suite »
Adidas CEO: Beyonce will be a great addition to our 'dream team''With the signing of Beyonce in addition to Kanye West, we believe we have a dream team,' Adidas CEO Kasper Rorsted said, discussing the company's latest earnings report.
Lire la suite »
5 habits keeping you from getting a promotion — and 5 things you can do today to change them5 habits you never knew were keeping you from getting promoted, and changes you can do today to change them.
Lire la suite »
How Tender Greens CEO Denyelle Bruno Is Making Sure Women In Food Get PaidCould intentionally creating gender parity in the restaurant industry close the pay gap in a post MeToo world? Denyelle Bruno is CEO of Tender Greens, a fast-casual chain. They set a goal to reach 50% gender parity by 2020 in an industry that's known for being a boy's club.
Lire la suite »
Tesla shares pop on plan to raise $2 billion from investors, including CEO Elon MuskTesla said in a filing on Thursday that CEO Elon Musk plans to buy about $10 million of the company's stock.
Lire la suite »
Beyond Meat CEO: We're focused on the meat industry, not other vegetarian optionsOn Thursday, Beyond Meat made its public market debut on the Nasdaq, trading under the symbol 'BYND.'
Lire la suite »