Sherwin-Williams' hurting, but not too badly

Cleveland-based paint-maker Sherwin-Williams' sales and profits are hurting " but not as badly as analysts expected. The company says the global recession cut sales by 13 percent in the second quarter and cut profits by 7 percent. Analysts had expected profits to drop by nearly 10 percent. To fight problems caused by weak demand and exchange rates, CEO Christopher Connor says Sherwin-Williams has cut costs by consolidating stores and cutting other costs. Click to Listen Other options: Realplayer / Windows Media / MP3 Download (0:13)

Connor says the cuts should help Sherwin Williams as the world economy starts to stabilize, but he warned sales are likely to continue to drop at least through September.