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Keyword: caterpillar

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  • Muslim student: “Hamas & Sharia law have taken over UC"

    02/01/2015 7:09:05 AM PST · by Reverend Saltine · 26 replies
    JihadWatch.org ^ | January 31, 2015 | Robert Spencer
    Azka Fayyaz was probably being ironic, but what she said was closer to the truth than she would probably be willing to admit. Islamic Jew-hatred has taken over UC Davis, with the willing collusion of the administration. But in this, UC Davis is not different from most campuses in the U.S. today: the Brownshirts rule. “Student Leader: ‘Hamas & Shariah Law Have Taken Over UC Davis,'” by Daniel Mael, Truth Revolt, January 30, 2015: A resolution calling for the University of California at Davis to divest from “corporations that aid in the Israeli occupation of Palestine and illegal settlements in...
  • Dow hit by Microsoft, Caterpillar; data disappoint

    01/27/2015 11:20:09 AM PST · by Mad Dawgg · 23 replies
    CNBC.com ^ | 1/27/2015 | Kate Gibson
    U.S. stocks dropped sharply on Tuesday, with the Dow positioned for its worst hit since October, as corporations reported earnings that disappointed and orders for U.S. business equipment unexpectedly declined in December. "If you live in the northeast, and you work from home, you're trying to figure out why the market is down 400 points," Art Hogan, market strategist at Wunderlich Securities, referring to the snowstorm that halted transit in and around New York City overnight before ending earlier Tuesday. It's a combination of an increase in volatility when you have a decrease in volume, and a transition period between...
  • This Report Is A Terrible Sign For The Economy

    01/27/2015 7:35:52 AM PST · by blam · 39 replies
    BI ^ | 1-27-2015 | Myles Udland
    Myles Udland January 27, 2015It is officially a horrible morning for the economy. After the global manufacturing giant Caterpillar had poor fourth-quarter results and gave a gloomy outlook for 2015, economic data from the US has added to more bad news for the economy Tuesday morning. Durable goods orders were a HUGE miss, declining 3.4% against expectations for a 0.3% increase. Durable goods orders excluding defense and transportation orders, referred to as "core" capex, declined 0.6% in December. Last month's numbers were also revised sharply lower, with November's orders revised down to -2.1% from a prior number of -0.7%. Following...
  • Caterpillar is latest victim of sliding oil price

    01/17/2015 7:05:54 AM PST · by thackney · 67 replies
    Market Watch ^ | Jan 5, 2015 | Ciara Linnane
    Caterpillar Inc. shares tumbled Monday as the company became the latest victim of the sliding price of oil. Caterpillar’s stock CAT, -0.55% tumbled almost 6% after J.P. Morgan downgraded it to underweight from neutral on concerns about the company’s direct exposure to oil and gas, and indirect exposure to mining, U.S. construction and emerging markets. The maker of diggers and dozers’ direct exposure to the sector is equal to about $6.5 billion, or 12% of revenue, while its indirect exposure may be as much as 15% of revenues, analysts wrote in a note. That means almost 30% of its total...
  • Here's Why Warren Buffett and General Electric Are Betting Big on Natural Gas

    04/07/2014 5:33:14 AM PDT · by thackney · 7 replies
    Motley Fool ^ | March 30, 2014 | Jason Hall
    "Our confidence is justified both by our past experience and by the knowledge that society will forever need massive investments in both transportation and energy." -- Warren Buffett, 2013 letter to Berkshire Hathaway shareholders According to the company's most recent fact sheet, Berkshire Hathaway subsidiary BNSF Railways ships enough coal every year to power 10% of America's houses, and enough crude oil to fill the gas tanks of nearly 650,000 cars every day. Transporting energy is pretty important to BNSF, and BNSF is pretty important to Berkshire, having generated some $3.8 billion in net income in 2013. At the same...
  • Sen. Paul: Give Caterpillar award for tax strategy

    04/02/2014 4:16:21 AM PDT · by PaulCruz2016 · 51 replies
    Mail ^ | 04-01-2014 | Associated Press
    WASHINGTON (AP) — Caterpillar Inc. executives defended a tax strategy Tuesday that has saved the manufacturing giant billions in U.S. taxes. They got support from Republican senators, including one who said the company deserves an award. Caterpillar has avoided paying $2.4 billion in U.S. taxes since 2000 by shifting profits to a wholly-controlled affiliate in Switzerland, according to a report released by Sen. Carl Levin, D-Mich. Levin chairs the Senate investigations subcommittee. On Tuesday, Levin grilled Caterpillar executives and their accountants at a hearing on the company's tax strategy. "Caterpillar is an American success story that produces iconic industrial machines,"...
  • Caterpillar avoided $2.4B in taxes, charges Sen. Levin

    03/31/2014 4:18:22 PM PDT · by jazusamo · 54 replies
    The Hill ^ | March 31, 2014 | Peter Schroeder
    Caterpillar avoided $2.4 billion in taxes thanks to a reorganization that housed its most profitable business in Switzerland, according to a Senate report. While the report, from the Senate Permanent subcommittee on Investigations, said Caterpillar had done nothing illegal, it criticized the manufacturing giant for trying to avoid paying U.S. taxes. “Caterpillar is an American success story that produces tremendous industrial machines,” Sen. Carl Levin (D-Mich.), the head of the investigatory panel, said Monday. “But it’s also a member of the corporate profit-shifting club that has shifted billions of dollars in profits offshore to avoid paying U.S. taxes,” Levin said....
  • No Dead CAT Recovery On This Sales Chart

    08/20/2013 7:45:56 AM PDT · by Perdogg · 4 replies
    Zero hedge ^ | Submitted by Tyler Durden on 08/20/2013 09:25 -0400
    No Dead CAT Recovery On This Sales Chart (Where Caterpillar Asia Sales Post Biggest Drop Since November 2009) There was some hope two months ago when CAT global retail sales posted a modest uptick between February and May, rising from a recent low of -13% Y/Y to "only" declining -7%. Alas, it turned out to be nothing but a dead CAT bounce, as a month ago hopes the global recovery would continue were dashed after the -7% global dealer retail sales dipped once again to -8%. Moments ago, the downward trend continued its acceleration, when the company reported global retail...
  • Florida Boycott Extended to Coca Cola, Lemonade, Foot Locker, Dixie Cups

    07/23/2013 9:13:29 AM PDT · by kevcol · 72 replies
    Frontpage Mag ^ | July 23, 2013 | Daniel Greenfield
    Currently the left is boycotting Nestle, Caterpillar, BP, Bank of America, Florida, Arizona and every company on earth. Not to mention Israel.
  • Caterpillar drops Boy Scouts support over gay ban

    06/13/2013 2:46:59 PM PDT · by Red in Blue PA · 69 replies
    CHAMPAIGN, Ill. (AP) -- Caterpillar Inc. is no longer giving money to the Boy Scouts because the organization discriminates against homosexuals, a spokeswoman for the Illinois-based heavy equipment manufacturer confirmed Thursday. The company's move wasn't directly tied to the recent Boy Scouts decision to continue to bar homosexual adults from roles within the organization while allowing openly gay children to be scouts. Instead, spokeswoman Rachel Potts said, the company decided to cut off funding while reviewing a request for $25,000 that came in last year from a local group in Illinois. That decision was never announced publicly or communicated to...
  • Caterpillar drops Boy Scouts support over gay ban (no to Homo Scouts)

    06/13/2013 7:03:44 PM PDT · by max americana
    AP (Associated Pukes) ^ | JUNE 13, 2012 | David Mercer
    Caterpillar Inc. no longer giving money to Boy Scouts, cites ban on gay leaders Caterpillar Inc. is no longer giving money to the Boy Scouts because the organization discriminates against homosexuals, a spokeswoman for the Illinois-based heavy equipment manufacturer confirmed Thursday. The company's move wasn't directly tied to the recent Boy Scouts decision to continue to bar homosexual adults from roles within the organization while allowing openly gay children to be scouts. Instead, spokeswoman Rachel Potts said, the company decided to cut off funding while reviewing a request for $25,000 that came in last year from a local group in...
  • Boy Scouts Disappointed Caterpillar Drops Support

    06/13/2013 11:38:35 AM PDT · by mirvin · 68 replies
    ABC News ^ | June 13, 2013 | AP
    Boy Scouts of America says it is disappointed Caterpillar Inc. will no longer give money to the group. But public relations director Deron Smith on Thursday thanked the Peoria-based heavy equipment manufacturer for its past support. Caterpillar spokeswoman Rachel Potts said Thursday that the Caterpillar Foundation has decided to withdraw its supports for Boy Scouts of America. Potts says the company believes the group's policy barring homosexual adults from serving as scout leaders is discriminatory.
  • Caterpillar North America Sales Collapse Suggests US Economy Back To 2010 Levels

    05/20/2013 10:52:46 AM PDT · by blam · 33 replies
    Zero Hedge ^ | 5-20-2013 | Tyler Durden
    Caterpillar North America Sales Collapse Suggests US Economy Back To 2010 Levels Tyler DurdenZero Hedge 05/20/2013 11:50 -0400 While we have wondered on numerous occasions previously if the collapse in lumber prices is the far more accurate indicator of end demand for housing (as confirmed by the recent collapse in multi-family housing starts), perhaps an even better indicator of trends in housing (and by implication the broader economy) is private sector intermediate end demand, such as Caterpillar North America sales, which unlike government data, are far less subject to political intervention, interpolation, guesswork, seasonal adjustments and otherwise, general manipulation. And...
  • CATERPILLAR: Here's What The World Will Do This Year

    04/22/2013 6:45:33 AM PDT · by blam · 9 replies
    TBI ^ | 4-22-2013 | Sam Ro
    CATERPILLAR: Here's What The World Will Do This YearSam Ro April 22, 2013 Global economic bellwether Caterpillar just announced Q1 revenue and earnings that fell short of analysts expectations. Management also reduced its guidance for the year. Because CAT is so closely tied to the economy, it has unparalleled insight into what's really going on. Fortunately for us, CAT provides a pretty comprehensive and granular outlook for the global economy with its earnings announcements. Here are a few key points: Global GDP will grow 2.5% this year. Central banks will lower interest rates further. Copper prices will average $3.25 per...
  • Caterpillar Laying Off 460 Workers at Illinois Plant

    04/07/2013 6:43:10 AM PDT · by tobyhill · 27 replies
    fox news ^ | 3/5/2013 | Dow Jones
    Caterpillar Inc. (CAT) plans to lay off more than 460 workers at a central Illinois plant that produces big mining trucks. The layoffs will shrink the work force at the Decatur plant by about 11%. The company said the reduction is needed to bring production at the plant in line with lower demand for mining equipment caused by falling prices for mined commodities and decisions by mining companies to shelve expansion projects. "While some cost-reduction measures such as temporary layoffs, shutdowns and shortened work weeks have already been implemented, more permanent measures must be taken in the near term," the...
  • Caterpillar permanently cuts 460 jobs at Illinois plant

    04/05/2013 2:57:28 PM PDT · by mdittmar · 23 replies
    The Business Journal ^ | Apr 5, 2013 | Jeff Engel
    The gloomy headlines for Caterpillar Inc. continue. The Peoria, Ill.-based equipment manufacturer (NYSE: CAT) said Friday it’s laying off 460 workers at its plant in Decatur, Ill., or 11 percent of the work force there, according to various media reports.The announcement comes a week after Caterpillar said it would temporarily cut up to 300 production jobs in South Milwaukee, or about 40 percent of the unionized work force there.But the Decatur cuts are permanent, Reuters reported.The company has cited a need to “bring production in line with demand” in both decisions.The series of actions include “some short-term temporary layoffs and...
  • A Tale Of Two Charts (CAT, Copper)

    04/02/2013 11:21:30 AM PDT · by blam · 11 replies
    A Tale Of Two Charts (CAT, Copper)Karl DenningerMarket TickerApril 2, 2013 This needs little explanation, really. Simply put, CAT (Caterpillar) is almost-certainly right given Copper's (Dr Copper) view of the economy on a forward basis and the rest of the equity market is probably wrong. Sell in May? You might be a bit late by then.
  • Caterpillar Punked By Chinese Fraud, To Write Off Half Of Q4 Earnings

    01/19/2013 8:22:27 AM PST · by Former Proud Canadian · 25 replies
    Zerhedge ^ | January 19, 2013 | Tyler Durden
    Fraudulent Chinese corporations are nothing new - we have been warning about them since late 2010, spurring the creation of a cottage industry focused exclusively on unmasking such public reverse merger companies (and generating trading profits along the way). One company, however, which apparently was completely unaware of the how pervasive Chinese corporate fraud, is industrial machine titan Caterpillar. This was made clear when, after hours on Friday night of course, the company revealed that it had been misled by "deliberate, multi-year, coordinated accounting misconduct" at a subsidiary of a Chinese company it acquired last summer, leading it to write...
  • Companies plan massive layoffs as Obamacare becomes reality

    11/09/2012 8:58:44 AM PST · by Evil Slayer · 70 replies
    The Washington Times ^ | 11/9/12 | Kerry Picket
    Freedom Works has put together a list of companies that will be laying of employees as a result of President Barack Obama's health care law: Welch Allyn Welch Allyn, a company that manufactures medical diagnostic equipment in central New York, announced in September that they would be laying off 275 employees, or roughly 10% of their workforce over the next three years. One of the major reasons discussed for the layoffs was a proactive response to the Medical Device Tax mandated by the new healthcare law. Dana Holding Corp. As recently as a week ago, a global auto parts manufacturing...
  • Layoffs

    11/08/2012 4:55:44 AM PST · by TigerClaws · 32 replies
    Various Sources
    Boeing Announces Big Layoffs in Defense Division http://www.cnbc.com/id/49729998 ING Layoffs In State Are Unrelated To Massive Staff Reduction In Europe http://www.courant.com/business/connecticut-insurance/hc-ing-layoffs-20121107,0,5645363.story Caterpillar’s Layoffs Parallel A Falling Monthly Copper Price Index http://agmetalminer.com/2012/11/07/caterpillars-layoffs-parallel-a-falling-monthly-copper-price-index/ More Layoffs May Be In Store for Alcatel-Lucent http://www.fool.com/investing/general/2012/11/06/more-layoffs-may-be-in-store-for-alcatel-lucent.aspx Boeing Telegraphs Layoffs in Defense, Space & Security Unit http://247wallst.com/2012/11/07/boeing-telegraphs-layoffs-in-defense-space-security-unit/ Umatilla Chemical Depot plans layoffs this month, in 2013 http://www.tri-cityherald.com/2012/11/06/2160493/umatilla-chemical-depot-plans.html#storylink=cpy Hawker Beechcraft to close plants in Arkansas, Texas, Arizona, cut more jobs http://www.therepublic.com/view/story/52f3fff526904fc68717a1cf890c9f9c/KS—Hawker-Beechcraft-Layoffs
  • Layoffs

    11/07/2012 3:30:02 PM PST · by Lorianne · 54 replies
    various
    Boeing Announces Big Layoffs in Defense Division http://www.cnbc.com/id/49729998 ING Layoffs In State Are Unrelated To Massive Staff Reduction In Europe http://www.courant.com/business/connecticut-insurance/hc-ing-layoffs-20121107,0,5645363.story Caterpillar’s Layoffs Parallel A Falling Monthly Copper Price Index http://agmetalminer.com/2012/11/07/caterpillars-layoffs-parallel-a-falling-monthly-copper-price-index/ More Layoffs May Be In Store for Alcatel-Lucent http://www.fool.com/investing/general/2012/11/06/more-layoffs-may-be-in-store-for-alcatel-lucent.aspx Boeing Telegraphs Layoffs in Defense, Space & Security Unit http://247wallst.com/2012/11/07/boeing-telegraphs-layoffs-in-defense-space-security-unit/ Umatilla Chemical Depot plans layoffs this month, in 2013 http://www.tri-cityherald.com/2012/11/06/2160493/umatilla-chemical-depot-plans.html#storylink=cpy Hawker Beechcraft to close plants in Arkansas, Texas, Arizona, cut more jobs http://www.therepublic.com/view/story/52f3fff526904fc68717a1cf890c9f9c/KS--Hawker-Beechcraft-Layoffs
  • Rachel Corrie - Peace Activist, Israel Whitewash Or Islamic Jihad Propaganda Tool?

    09/03/2012 8:25:11 PM PDT · by IsraelBeach · 16 replies
    Israel News Agency / Google News ^ | September 1, 2012 | Joel Leyden
    Rachel Corrie - Peace Activist, Israel Whitewash Or Islamic Jihad Propaganda Tool? (photo of ISM members carrying automatic weapons) "Peace activists" do not carry automatic weapons. By Joel Leyden Israel News AgencyJerusalem, Israel --- September 1, 2012 ... Part of the following was communicated by the Israel Ministry of Foreign Affairs to the Israel News Agency. Whether from Hamas, the PA or an Israeli living in Sderot, we would all agree on one thing - the death of Rachel Corrie was tragic. Where we disagree is that a free and democratic court in Haifa, Israel believes that this accident never...
  • Former Congressman 'Unsurprised' by Corrie Verdict

    09/01/2012 11:45:31 PM PDT · by Eleutheria5 · 31 replies
    Arutz Sheva ^ | 31/8/12 | Elad Benari
    A former congressman who represented Rachel Corrie's district said on Thursday he was unsurprised by an Israeli court verdict to dismiss a civil suit filed by the family. Speaking to the Bethlehem-based Ma’an news agency, Democrat Brian Baird of Washington said the trial was undermined by Israel's failure to conduct a transparent investigation into Corrie’s death in 2003. “The verdict was not a great surprise” because the outcome resulted from “a process that seemed designed to obfuscate the facts rather than clarify,” the ex-lawmaker said. “Sadly, as I've come to understand, this is standard operating procedure” for many complaints alleging...
  • Caterpillar, Westport Team For Natural Gas Engines

    06/05/2012 9:27:54 AM PDT · by shove_it · 10 replies
    Investors.com ^ | 5 Jun 2012 | REINHARDT KRAUSE
    Earth-moving equipment maker Caterpillar (CAT) said it plans to develop natural gas engines for mining trucks and off-road machines with Westport Innovations (WPRT). Commercial production is expected to begin in about five years, the companies said. Westport Innovations shares were up 18.2% in early trading Tuesday to 26.32. Caterpillar shares were up 0.9% to 84, but are still down 7% for the year. Caterpillar will fund the project. Progress Rail Services, a subsidiary of Caterpillar, plans to build natural-gas powered locomotives. Westport says it will sell engine components. ~snip~
  • Union Workers Strike At Illinois Caterpillar Plant (Joliet, Il)

    05/07/2012 12:24:07 PM PDT · by robowombat · 103 replies
    AP ^ | Tue, 05/01/2012 - 9:46am
    <p>JOLIET, Ill. (AP) — About 800 union workers who rejected Caterpillar Inc.'s latest contract offer walked off the job Tuesday at a plant in Joliet.</p> <p>Workers with picket signs lined up outside the plant early Tuesday, just hours after their contract expired. The employees, part of the International Association of Machinists and Aerospace Workers, are asking for better wages and health care. They voted Sunday to reject the Peoria-based company's latest contract offer.</p>
  • Caterpillar will build new plant outside Illinois due to negative business climate

    02/09/2012 4:07:40 PM PST · by ak267 · 7 replies
    Legal Insurrection ^ | 2-9-2012 | David Mercer
    Caterpillar has ruled out building a planned new plant in Illinois due to the negative business climate, via AP: “Please understand that even if your community had the right logistics for this project, Caterpillar’s previously documented concerns about the business climate and overall fiscal health of the state of Illinois still would have made it unpractical for us to select your community for this project,” the email, a copy of which was obtained by The Associated Press, says. Caterpillar CEO Doug Oberhelman last year complained to Gov. Pat Quinn about the state’s business climate after Illinois raised income taxes. Oberhelman...
  • Caterpillar won't build North American plant in Illinois

    02/09/2012 6:52:11 AM PST · by 1rudeboy · 33 replies
    PEORIA -- Caterpillar Inc. will not be building its new North American plant anywhere in the state of Illinois, officials with the company told local leaders Tuesday, with part of the reason being continued concerns about the business climate in the state. The company will instead focus on a location closer to its division headquarters in Cary, N.C., Peoria County officials were told in an email sent to them shortly after the close of business and later obtained by the Journal Star. The plant stood to bring with it from Japan roughly 1,000 jobs manufacturing track-type tractors and mini hydraulic...
  • Caterpillar locks out workers in Canada

    01/02/2012 6:38:28 PM PST · by MamaDearest · 15 replies
    nytimes ^ | January 2, 2012 | Ian Austen
    Snips from Excerpt only website: A lockout late Sunday of about 465 workers at a Canadian locomotive factory owned by a Caterpillar unit has renewed debate in Canada about the labor impact of foreign ownership. The action came after the employees in London, Ontario, rejected a contract proposed by Electro-Motive Canada. The Canadian Auto Workers union said the proposal would cut wages in half, substantially reduce benefits and end the current pension plan. But some of the union’s executive members have suggested that Caterpillar’s contract demands were intended to provoke a shutdown of the Canadian factory as a prelude to...
  • Sears and CME Group threaten to leave Illinois

    12/06/2011 5:47:00 PM PST · by george76 · 60 replies · 1+ views
    CNNMoney ^ | Dec. 06 ,2011 | Charles Riley
    Without a fresh round of tax incentives, two iconic Illinois companies might soon be on the move. The companies -- Sears Holdings and CME Group -- are the latest in a series of Illinois firms to threaten departure after the state temporarily raised corporate taxes earlier this year. Sears Holdings, which has 6,100 employees at its corporate headquarters and operates both K-Mart and Sears stores, is looking for its current package of tax incentives to be extended. ... The stakes are high. Earlier this year, Caterpillar threatened to leave Illinois, an announcement that sparked something of a relocation competition among...
  • Caterpillar to Shift Some Production to U.S.

    11/13/2011 8:05:26 PM PST · by MinorityRepublican · 9 replies
    The Wall Street Journal ^ | Sunday 13 November 2011 | BOB TITA
    Caterpillar Inc. said it plans to shift production of small construction machinery from Japan to a new plant in North America that is expected to employ more than 1,000 people. The new plant, whose location wasn't identified, will become the company's global source for small bulldozers and mini-hydraulic excavators. It also will export partially assembled mini-excavators to Europe to improve delivery times for European customers. Caterpillar, which is based in Peoria, Ill., said it expects to begin construction during the first half of 2012.
  • Presbyterian Church Accuses Companies of 'Non-Peaceful' Support of Israel

    09/19/2011 4:06:13 AM PDT · by Cronos · 18 replies
    Christian Post ^ | 16 September 2011 | Luisa Oleszczuk
    The Presbyterian Church USA (PC USA) has accused Caterpillar, HP and Motorola of supporting the Israeli government in a "non-peaceful way." As a result of those claim, the Church has now indicated that it will divest of the companies' stock. The Church has been trying to convince Caterpillar to cease its indirect engagement in the Israeli-Palestinian conflict for years, a PC USA representative wrote in a statement.Caterpillar, a producer of mining equipment, has “profited from sales of its products to Israeli military and civilian authorities, including its D-9 bulldozers which are used to demolish Palestinian homes and construct settlements and...
  • Caterpillar Inc. to Pay $2.55 Million to Resolve Clean Air Act Violations

    07/28/2011 7:15:43 PM PDT · by Rabin · 39 replies
    Environmental Protection Agency ^ | July 28, 2011 | Re: Stacy Kika
    The U.S. Environmental Protection Agency (EPA) and the U.S. Department of Justice (DOJ) today announced a settlement with Caterpillar Inc. to resolve alleged Clean Air Act violations for shipping more than 590,000 highway and non-road diesel engines without the correct emissions controls. Caterpillar also allegedly failed to comply with emission control reporting and engine-labeling requirements. Caterpillar will pay a $2.55 million penalty, continue a recall of non-compliant engines, and reduce excess emissions… Caterpillar (must also recall the) non-compliant engines to install the correct ATDs and correct the fuel injector and fuel map settings. In addition to the recall.
  • Caterpillar Accused Of Tax Dodging

    07/11/2011 11:29:43 AM PDT · by Still Thinking · 28 replies
    Manufacturing.Net ^ | July 11, 2011
    PEORIA, Ill. (AP) -- Caterpillar Inc. avoided paying more than $2 billion in federal income taxes from 2000 to 2009 by accounting fraudulently for billions in dollars of profits, according to a lawsuit filed by a manager of the heavy equipment maker. Daniel Schlicksup, who was a global tax strategy manager for the company from 2005 to 2008, alleges that the company wrongly attributed at least $5.6 billion in profits from sales through an Illinois-based warehouse to its unit in Switzerland in order to lessen its tax burden and increase earnings. A spokesman for Caterpillar, which reported $2.7 billion in...
  • Caterpillar CEO says Obama business friendliness has improved to … a slightly better F

    05/13/2011 2:19:14 PM PDT · by SeekAndFind · 3 replies
    Hotair ^ | 05/13/2011 | Ed Morrissey
    Greg Hengler reminds us why, as a politician, it’s wise to pick your friends and economic examples carefully. Early in his presidency, Barack Obama made an appearance at Caterpillar to claim that passing his Porkulus bill would keep the manufacturer of heavy equipment from conducting layoffs. Jim Owen, their CEO at the time, responded that Obama was wrong. Thanks to that dustup, the firm gets plenty of attention when it comes to Obama’s economic policies and friendliness towards the business and investment community.CNBC asked Caterpillar’s current CEO, Doug Oberhelman, to evaluate the changes made at the beginning of the year...
  • Caterpillar Fungus Making Tibetan Herders Rich

    04/29/2011 12:50:56 PM PDT · by Red Badger · 26 replies · 1+ views
    National Geographic ^ | 04-27-2011 | John Roach
    Profitable medicinal fungus a cash cow in rural communities. Harvesting of a parasitic fungus that grows high on the Tibetan Plateau in China is infusing hordes of cash into rural communities, scientists say. The fungus, Ophiocordyceps sinensis, takes over the bodies of caterpillar larvae then shoots up like finger-size blades of grass out of the dead insects' heads. (See related pictures: "'Zombie' Ants Found With New Mind-Control Fungi.") Known as yartsa gunbu—or "summer grass winter worm"—by Chinese consumers, the nutty-tasting fungus is highly valued for its purported medicinal benefits, for instance, as a treatment for cancer and aging and as...
  • Caterpillar Letter Impact [The Governor Says CAT Not Leaving. Entering, Rosie O'Donnell to HARPO]

    03/30/2011 8:24:16 AM PDT · by fight_truth_decay · 9 replies
    Crain's MultiMedia ^ | March 30, 2011 | Lisa Leiter
    Lisa Leiter talks with UIC finance professor Robert Chirinko about the chances of Caterpillar leaving Illinois and what impact that would have on the state.
  • Would the last business leaving Illinois please turn out the lights? Caterpillar Inc. might move...

    03/27/2011 11:03:09 AM PDT · by SeekAndFind · 44 replies
    American Thinker ^ | 03/26/2011 | Rick Moran
    Caterpillar, Inc, one of the largest employers in the state of Illinois and an iconic symbol of heartland solidity, is seriously considering a move to another state. CEO Doug Oberhelman sent a letter to Illinois Governor Pat Quinn, saying that "the pressure was on" from other states who are trying to woo the tractor maker and their 23,000 jobs away from their home in East Peoria. The Pantagraph: "I want to stay here. But as the leader of this business, I have to do what's right for Caterpillar when making decisions about where to invest," Oberhelman wrote in the letter...
  • Caterpillar Urges Illinois to Roll Back Tax Increases

    03/26/2011 1:09:14 PM PDT · by reaganaut1 · 44 replies
    Wall Street Journal ^ | MARCH 26, 2011 | JAMES R. HAGERTY and BOB TITA
    Caterpillar Inc., suggesting that it could shift jobs out of Illinois, is prodding its home state to cut government spending and roll back tax increases. Doug Oberhelman, chief executive officer of the giant Peoria, Ill.-based maker of construction and mining equipment, protested against the state's tax and spending policies in a March 21 letter to Illinois Gov. Pat Quinn, a Democrat who took office in January 2009. In the letter, first reported Friday by the Lee Enterprises newspaper chain and provided to The Wall Street Journal Saturday, Mr. Oberhelman said other states have stepped up their efforts to lure Caterpillar...
  • Caterpillar CEO's letter talks of leaving Illinois (Taxes too high)

    03/25/2011 8:10:52 PM PDT · by Islander7 · 65 replies
    Pantagraph ^ | March 25, 2011 | By Kurt Erickson | Lee Springfield Bureau
    SPRINGFIELD -- The chairman and CEO of Peoria-based Caterpillar Inc. is raising the specter of moving the heavy equipment maker out of Illinois. In a letter sent March 21 to Gov. Pat Quinn, Caterpillar chief executive officer Doug Oberhelman said officials in at least four other states have approached the company about relocating since Illinois raised its income tax in January. "I want to stay here. But as the leader of this business, I have to do what's right for Caterpillar when making decisions about where to invest," Oberhelman wrote in the letter obtained Friday by the Lee Enterprises Springfield...
  • Three Major Firms Pull Out of Climate Change Alliance [ConocoPhillips, BP America and Caterpillar]

    02/16/2010 1:53:41 PM PST · by Sub-Driver · 36 replies · 1,341+ views
    Three Major Firms Pull Out of Climate Change Alliance ConocoPhillips, BP America and Caterpillar pulled out of a leading alliance of businesses and environmental groups pushing for climate change legislation on Tuesday, citing complaints that the bills under consideration are unfair to American industry. The sudden pullout of three corporate giants from a leading alliance of businesses and environmental groups could be the death knell for climate change legislation languishing on Capitol Hill. ConocoPhillips, BP America and Caterpillar's announced Tuesday they will pull out of the U.S. Climate Action Partnership, citing complaints that the bills now in Congress are unfair...
  • Why Must CAT Put Plants In China?

    10/07/2010 5:27:05 PM PDT · by Kaslin · 19 replies
    IBD Editorials ^ | October 7, 2010 | Investors Business Daily staff
    Free Trade: While blaming corporate greed for jobs fleeing overseas, the administration remains silent on foreign tariffs that block our exports and make possible the looting of American technology. It's enough that corporations such as Caterpillar, one of the premier manufacturers of heavy equipment in the world, already are forced to operate under the world's second-highest corporate tax burden. They also face the looming threats of higher costs under ObamaCare and ever-more-stringent environmental regulations by the Environmental Protection Agency. Despite these burdens, which are reason enough to flee these shores for friendlier business climates, such companies still manage to make...
  • Caterpillar to install factory in China: company

    09/29/2010 10:01:57 AM PDT · by Hoodat · 79 replies
    Yahoo!News ^ | 29 Sep 2010 | unk
    NEW YORK (AFP) – Caterpillar, the world's largest manufacturer of construction equipment, will build a factory in China to produce mini hydraulic excavators, the company said in a statement. Construction will begin in Wujiang, near Shanghai, at the end of 2010 and the facility should be ready in 2012 to begin production of mini excavators of less than eight tons, the company said Tuesday. Caterpillar did not say how much the project will cost. It is part of a long-term plan for investments in China that will make Caterpillar one of the leading manufacturers of construction equipment in the country....
  • WTO helping China Loot Caterpillar

    10/04/2010 1:00:25 PM PDT · by goldendays · 52 replies
    americanthinker.com ^ | 10/04/2010 | Howard Richman & Raymond Richman
    Caterpillar is one excellent company. It is building new factories now in Texas, Arkansas, and North Carolina, from which it will export products made by American workers all around the world. Its excellent worldwide parts distribution network gives its used equipment a very high resale value. But on September 29 Caterpillar announced it is building its twelfth factory in China -- this one to produce mini-excavators. Why can’t Caterpillar make a profit exporting mini-excavators to China? The answer is simple: China has a 30% tariff on all excavators. In fact it has a similar high tariff on just about every...
  • Cat tells workers to leave Mexico

    09/11/2010 3:55:25 PM PDT · by Graybeard58 · 55 replies
    Peoria Journal-Star ^ | Sep 10, 2010 | Paul Gorden
    Caterpillar Inc. is telling its American employees in Mexico, particularly those with children, to return to the United States because of escalating violence there, the company said Thursday. About 40 American employees of Caterpillar facilities in Mexico, including in Monterrey, are affected by the company's order. Those employees all are salaried or management, said company spokesman Jim Dugan. "We have been and will continue to monitor and assess the security situation in Mexico and communicate with our employees in order to improve their safety. Based on recent guidance from the (U.S.) State Department, Caterpillar has informed expat employees in some...
  • The Iranian Web of Influence in the United States

    04/02/2008 9:46:09 AM PDT · by K-oneTexas · 2 replies · 73+ views
    FrontPage Magazine ^ | 2 April 2008 | Hassan Daioleslam
    The Iranian Web of Influence in the United States   By Hassan Daioleslam FrontPageMagazine.com | Wednesday, April 02, 2008 On March 21, 2008, the U.S. Commerce Department’s Bureau of Industry and Security (BIS) announced its decision to penalize three Iranian-connected companies as "they knowingly exported three U.S. origin aircraft to Iran in violation of the Export Administration Regulations (“EAR”) and are preparing to re-export three additional U.S. origin aircraft to Iran in further violation of the EAR."1The principal firm among these is Balli Group PLC based in London. Iranian brothers Vahid and Hassan Alaghband own the company. Balli owns...
  • Caterpillar: The Rest Of The World Is Coming Back Fast, But Boy, America Is Horrible

    04/26/2010 7:03:04 AM PDT · by blam · 19 replies · 903+ views
    The Business Insider ^ | 4-26-2010 | Joe Weisenthal
    Caterpillar: The Rest Of The World Is Coming Back Fast, But Boy, America Is Horrible Joe Weisenthal Apr. 26, 2010, 8:27 AM Shares of Caterpillar (CAT) are up 3% pre-market after the earth-moving company reported strong earnings and raised its outlook. The numbers seem to be providing a lift to the overall market, but check out the internal numbers, and you see a WIDE disparity between what's going on globally, and what's going on domestically. Not surprisingly, Caterpillar loves Asia Pacific and Latin America. Here's Asia-Pacific: Asia/Pacific – Sales increased $469 million, or 40 percent. * Sales volume increased $356...
  • Obamacare Starts Squeezing the Private Sector

    03/30/2010 10:13:19 AM PDT · by Behind Liberal Lines · 33 replies · 1,504+ views
    American Spectator ^ | 3.30.10 @ 6:09AM | By William Tucker
    The news on healthcare reform this week is that right off the bat, the major corporations are discovering they will be losing stunning amounts to taxes as a result of Obamacare. Caterpillar, the first to speak out, reported it will take a one-time write-down of $100 million in order to account for the elimination of a federal tax refund it has been receiving for providing drug benefits to its retired employees. In the following days, AT&T, Verizon, 3M, Deer & Co., and AK Steel Holdings announced they would take similar write downs. AT&T's new tax bill will come to over...
  • A War On Reality

    03/29/2010 4:21:18 PM PDT · by Kaslin · 11 replies · 663+ views
    Investors.com ^ | March 29, 2010 | INVESTORS BUSINESS DAILY Staff
    Politics: Rep. Henry Waxman vowed to haul CEOs into hearings after they revealed just how much ObamaCare will cost their firms. It's an absurd war on bookkeeping, from a Congress desperate to avoid heat for this fiasco. In the wake of President Obama's presidential signature on the gargantuan Patient Protection and Affordable Care Act last Thursday, big companies have crunched their numbers and come up with an ugly picture. In legally mandated filings, AT&T reported that ObamaCare will cost it $1 billion. Deere & Co. reported $150 million in new costs. Caterpillar must cough up $100 million. 3M must pay...
  • AT&T Announces $1 Billion in Expenses Due to New Health Care Law

    03/27/2010 7:46:04 AM PDT · by JoeGar · 26 replies · 833+ views
    Top News ^ | 3/27/2010 | Amit Pathamia
    The latest addition to the mounting list of U. S. companies that have been hit by the new health care law is AT&T Inc. The company stated on Friday that it would incur $1 billion in non-cash expenses in the first quarter of the year. The announcement made by AT&T has been the largest amount reported till now. On comparison, Deere & Co. stated that it will be shelling out a one-time expense of $150 million and Caterpillar Inc. reported a first quarter charge of $100 million. Among the many changes that have come about since its enactment, the health...
  • Deere (And Others) In The Headlights

    03/26/2010 5:06:50 PM PDT · by Kaslin · 27 replies · 1,286+ views
    Investors.com ^ | March 26, 2010 | INVESTORS BUSINESS DAILY Staff
    Health Reform: As major businesses lay out the impact of ObamaCare in dollars and jobs, two things are clear: the costs will be enormous, and the president's vow to focus on "jobs, jobs, jobs" can no longer be believed. Early returns on ObamaCare are coming in, and they belie proponents' claims of job creation and cost reduction. The costs will increase. They are merely being shifted to the states and to America's businesses, large and small. AT&T, the country's largest telephone company, announced Friday it will take a $1 billion first-quarter charge related to the new health care law. The...