Is the economic turmoil overseas a crisis–or an opportunity? Here’s a look at a few savvy American companies reaping the benefits of European market instability.
Doing business in Europe right now is a scary thought: The euro has pretty much crashed through the floor, the Greek government is pleading for a second bailout, and European stock markets have tanked.
So it’s no surprise that plenty of American companies are feeling the shockwaves of a turbulent economy overseas. Fourth quarter earnings reports confirm this. One company, Schnitzer Steel Industries, a steel manufacturer, announced on Monday that it expects its fourth quarter results will be lower than expected “due to weaker than anticipated global market conditions.” It’s a phrase we’ll probably start hearing often.
But not all American firms are hurting. Some entrepreneurs say the Euro crisis has been downright good for business.
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