The Senate on Tuesday unanimously confirmed former Procter & Gamble CEO Robert McDonald as the new Veterans Affairs secretary, with a mission to overhaul an agency beleaguered by long veterans' waits for health care and VA workers falsifying records to cover up delays.
CINCINNATI - Procter & Gamble Co.'s fourth-quarter revenue and net income jumped by double digits on strong sales in emerging markets such as China and India. But the world's largest consumer products company sees things slowing down this quarter as the U.S. and other developed economies struggle.
The Cincinnati-based maker of Tide detergent, Pampers diapers and Gillette shavers on Friday reported earnings per share of 84 cents, as net income rose 15 percent to $2.51 billion. Revenue jumped 10 percent to $20.86 billion. Analysts expected 82 cents on $20.57 billion.
P&G expects earnings for the year ahead to be in a range of $4.17 to $4.33 per share. Analysts forecast $4.29 per share.
In the current quarter, P&G expects earnings in a $1-$1.04 range; analysts were looking for $1.14.
Three out of 10 families that use Children's Hospital's health clinic have trouble getting enough food on a monthly basis, posing an acute danger to newborns and babies.
If Bob McDonald is confirmed to lead the Veterans Administration, and indications are he will be, he'll be the latest P&G chief executive called on to turn around a sprawling organization that lost its way.
A.G. Lafley got a hero's welcome last May when he returned to the CEO post at Procter & Gamble Co. But investors are increasingly skeptical of his plans for restoring profit and revenue growth.
Procter & Gamble has been tight-lipped about plans for entering a new product category. But speculation is increasing that adult incontinence is the category and the Always brand is the launch vehicle.
From Soap Operas to Ivory's 99 and 44/100 percent purity, Procter & Gamble has always been about the big idea. Female empowerment could be the next one.
A Wall Street analyst predicts the company will enter the adult incontinence market as its next new category.
Those who worked with Bob McDonald call him the perfect choice to run the U.S Department of Veterans Affairs
Procter & Gamble Co. could soon lose patent protections on Crest Whitestrips. That would be bad for P&G's bottom line but good for consumers.
Median pay for Cincinnati CEOs increased 12.5 percent to $2.6 million in 2013, in line with national trends. At most local companies, shareholders did much better than that.