An Iowa financial expert says Whirpool’s decision to close the Maytag plant in Newton will have some short-term impact on the company and its stock. Jim Tausz is a financial planner with the Bradford Financial Center in Clarion.
Tausz says, “What they’re doing is hurtful, but the other side of it is, it’s business.” Tausz says they’re trying to make the company a well-run business that can make money and says in his opinion “Whirlpool is a great stock.”
Tausz though doesn’t recommend you rush to buy Whirlpool stock. Tausz says the negatism and the changeover is still not a good thing for the company, and he says they company has a black eye because they’re doing this.
Tausz says this could end up being a good move long-term for the company from a pure business standpoint. Tausz says they’ll probably come out stronger as a company, but nobody, not even the company, knows what the bottom line is going to be. Tausz says they do have a plan to merge operations and try to do things better. Whirlpool stock dropped nearly one dollar early Wednesday after the Newton announcement.