712034--3/2/2009--ACCO_BRANDS

related topics

{customer, product, revenue}

{condition, economic, financial}

{debt, indebtedness, cash}

{cost, regulation, environmental}

{product, market, service}

{cost, operation, labor}

{operation, international, foreign}

{loss, insurance, financial}

{property, intellectual, protect}

{personnel, key, retain}

{stock, price, share}

{tax, income, asset}

{product, liability, claim}

Risks Related to Our Business Our business, operating results, cash flows and financial condition are subject to various risks and uncertainties, including, without limitation, those set forth below, any of which could cause our actual results to vary materially from recent results or from our anticipated future results. Sales of our products may be adversely affected by issues that affect business, commercial and consumer spending decisions during periods of economic downturn. Our substantial indebtedness could adversely affect our results of operations and financial condition and prevent us from fulfilling our financial obligations. We are subject to restrictive debt covenants, which may restrict our operational flexibility. We require a significant amount of cash to service our debts. Our ability to generate cash depends on many factors beyond our control. Failure to maintain compliance with the listing standards of the New York Stock Exchange could ultimately result in the delisting of our common stock. Our business is dependent on a limited number of customers, and a substantial reduction in sales to these customers could significantly impact our operating results. A bankruptcy of one or more of the Company s major customers could have a material adverse affect on our financial condition and results of operations Our pension costs could substantially increase as a result of volatility in the equity markets or interest rates. Impairment charges could have a material adverse effect on our financial results. Our industry is subject to further consolidation, and further consolidation of our customers could cause a reduction to our margins and sales. If we do not compete successfully in the competitive office products industry, our business and revenues may be adversely affected. Our business is subject to risks associated with seasonality, which could adversely affect our cash flow, financial condition or results of operations. The raw materials and labor costs we incur are subject to price increases that could adversely affect our profitability. We are subject to supplier credit and order fulfillment risk. Risks associated with our foreign operations could harm our business. Risks associated with outsourcing the production of certain of our products could harm our business. We depend on certain manufacturing sources whose inability to perform their obligations could harm our business. Our inability to secure and maintain rights to intellectual property could harm our business. Our success depends on our ability to attract and retain qualified personnel. We are subject to environmental regulation and environmental risks. Product liability claims or regulatory actions could adversely affect our financial results or harm our reputation or the value of our end-user brands. We may not realize expected benefits from our cost reduction initiatives.

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712034--3/2/2009--ACCO_BRANDS_CORP