In going through my e-mail this morning I noticed we had purchased 35 shares of Whirlpool (investment advisor) for $5,124.89 at $146.4254 a share (I may own more, but don’t have that information at hand). Whirlpool is the number one major appliance manufacturer in the world, with approximately $20 billion in annual sales, 100,000 employees and 70 manufacturing and technology research centers throughout the world in 2014. So I took a look at what had been going on and see that Whirlpool had slumped to its 52-week low Friday after it reported weaker-than-expected quarterly revenue, but beat earnings expectations in its latest quarter, thanks to cost cuts and acquisitions that drove European and Asian sales. So I guess to professionals, that’s the time to buy—don’t buy high?
I like the idea of investing in something I know, use, can see, and touch, even though I’m not the one who placed the order. The headquarters are in the mid-west—Benton Harbor, Michigan. In the past year we remodeled our kitchen and replaced the appliances. I now have a Whirlpool microwave and refrigerator/freezer, a GE double oven and a Kitchen Aid dishwasher. I suppose it would be better to have all the same company to get a color match, but in all cases since these were replacements, we had to go with what would fit. The double oven replacement was a nightmare—don’t ever spec one unless you absolutely need it. I wasn’t happy that the new microwave sticks out so much further than the old one which was flush with the cabinets, but after looking at other models, magazine ads, and other homes (my daughter’s), I see they are all that way.
Also, Kitchen Aid is owned by Whirlpool which owns 13 brands, including: Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht, and Gladiator. With the housing market rebounding, sales to new housing installers should rebound in the coming years after a slow down in 2008. If the construction trucks in our condo complex are any indication, remodeling is booming also.