When Inc. first discussed doing a story about the weak dollar last fall, we were a little hesitant. The story wouldn't come out until January or February--what if the dollar had rebounded by then? Turns out, we had nothing to worry about. The dollar hit a new low against the euro yesterday; one euro is now worth $1.50. That's bad news for my summer travel plans. It's also bad news for some businesses. Companies that have major expenses in Europe or Canada are suffering, as wages, rent, and other bills have become increasingly expensive. Companies that earn most of their revenue in the U.S., but have expenses overseas, are hurting most of all. If you moved an office to Canada, hoping to save money on health care costs, the dollar's fall may have already wiped out all your gains.
In our story, we profiled four companies who have taken steps to counteract the effects of the falling dollar. Have your margins suffered as the greenback has weakened? If so, what have you done about it?