There are no safe havens in the stock market. Every stock carries risk. But some less than others. This column features stocks that have shown one or more of the following characteristics: less volatility, better earnings, larger market caps, safe and increasing dividends. In these times of turmoil, our goal is to show readers better opportunities for investing with fewer risks.

January 21, 2011 - The Procter & Gamble Company (PG-NYSE) provides consumer packaged goods in the United States and internationally. The company offers beauty products, such as cosmetics, female antiperspirant and deodorant, female personal cleansing, female shave care, hair care, hair color, hair styling, pharmacy channel, prestige products, salon professional, and skin care products under the Head & Shoulders, Olay, Pantene, and Wella brands; and grooming products, including electronic hair removal devices, home small appliances, male blades and razors, and male personal care products under the Braun, Fusion, Gillette, and Mach3 brands.

The company sells in approximately 180 countries through retail operations, including mass merchandisers, grocery stores, membership club stores, drug stores, department stores, salons, and high-frequency stores. The Procter & Gamble Company was founded in 1837 and is based in Cincinnati, Ohio.

Latest News:
P&G has decided to outsource 2,700 jobs involving the delivery and placement of P&G products on store shelves. The decision will impact about 2,600 part-time employees, the vast majority of whom are expected to be hired by P&G's retail vendors.

P&G said those retail vendor partners include Acosta, Convergence, Premium, Driveline, CPM and Crossmark. The vendors have "scale and expertise" that will help P&G improve productivity. They also have "established relationships with customers" and "the latest retail technology" at their disposal.

The outsourcing decision also impacts 100 full-time employees. Those employees will be given an opportunity to transfer to other P&G jobs or work for retail vendors.

Expectations:
For fourth quarter 2011 earnings per share (EPS): $1.08 vs $1.13 in 2010
For full year 2011: $4.18 compared to $3.95 in 2010
For first quarter 2012: $1.07 vs 96 cents in first period of 2010
For full year 2012: $4.55

Important Numbers:
- Trailing P/E: 16.74
- Forward P/E: 14.49
- Price to sales ratio: 2.16
- Price to book: 2.84
- Operating margin: 18.55%
- Profit margin: 13.92%
- Return on equity: 18.23%
- Return on assets: 7.24%
- Revenues (last 12 months): $84.35 billion
- Total cash: $3.58 billion
- Total cash per share: $1.30
- Total debt: $33.85 billion
- Total debt/equity: 51.57%
- Current ratio: .83
- Book value per share: $23.27
- Beta: .5
- 52 week chang: .26%
- Total shares outstanding: 2.75 billion
- Held by institutions: 32.4%
- Annual dividend: $2.10
- Yield: 3.2%

Company Web site: www.pg.com