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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)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.

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...

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...

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

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? (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...

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...

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~

<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 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...

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...

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...

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 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.

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...

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.

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...

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...

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...