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February 24, 2022 08:23 AM

Kickstart: Expect economic impact of 'more of the same, only more intense' following Ukraine invasion

Rhoda Miel
Managing Editor
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    Soldiers patrol the airport in Crimea during an earlier struggle between Russia and Ukraine.
    Expect economic impact of 'more of the same, only more intense' following Ukraine invasion

    It's still too early to make any specific predictions about the impact of the Russian invasion of Ukraine on the global economy, but Bill Wood, Plastics News' economics editor, says the new pressures will only add to problems already out there for individual businesses.

    "One thing I know, the uncertainty we're dealing with at the moment probably won't result in lower costs," he said during a Feb. 23 Numbers That Matter Live video discussion.

    With existing issues related to resin prices, inflation and labor shortages, the crisis in Europe will likely complicate an already difficult balancing act.

    "Expect more of the same, only more intense," he said.

    Plastics businesses must take a careful look at where they are most vulnerable to those uncertainties, rather than trying to wrap their arms around everything.

    "If you get caught up worried about all the myriad possibilities, you're going to end up in more trouble than you started with," he said. "Keep it focused, stay balanced, think about one or two different things.

    "We've seen bad actors before on the global stage," he added. "That doesn't mean this is going to be worse or better, but don't be complacent and think this is just going to go away."

    Wood and Editor Don Loepp also talked about inflation, labor and resin prices during the 45-minute event. The video is archived here for PN subscribers.

     

    Our latest on the Ukraine crisis
    Ukraine crisis could mean higher resin prices
    Decks, fences and an IPO

    Barrette Outdoor Living Inc. has been making a lot of news in the past year, with a new plant in Florida, an expansion in Tennessee and the acquisition of Nephi, Utah-based National Vinyl Products as well as picking up an award for its polypropylene privacy screens at the International Builders' Show earlier this month.

    The maker of composite fencing and railing, composite decking and other outdoor products may be about to launch its biggest news yet, with Bloomberg reporting the company is considering an initial public offering that would value Barrette at $1 billion.

    At this point, Bloomberg notes, the IPO talks are in the preliminary stages.

     

    Dog-friendly business travel?

    Maybe you added a pup to your household during the early days of the pandemic. Now that business travel is returning, what do you do with Fido?

    Why not bring him along?

    Our sister paper Crain's Detroit Business notes that some hotels have adopted pet-friendly policies to help compete.

    "First, observers have said anecdotally, hotels strapped for cash and seeking additional revenue — however little — having been relaxing their pet policies and charging a little more for guests to bring their pets, within reason. Second, hotels are becoming more experiential and one way to up the game is to allow pets and offer special accommodations for them," CDB's Kirk Pinho writes.

    Detroit's Element Hotel, part of the Marriott chain, even has a "V.I.Pup" gift bag when you check in.

     

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