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| Caterpillar cuts another 2,454 jobs |
| 2009-03-18 |
| Caterpillar Inc, the world''s largest maker of construction and mining equipment, notified an additional 2,454 workers in three states on Tuesday that they were losing their jobs as the company continues to try to bring production in line with plummeting demand. |
| Posted by:Fred |
| #7 The stimulus provides about $40 billion for construction projects. Construction spending in the U.S. dropped about $30 billion in January alone. The stimulus construction will be performed by equipment currently sitting idle. China is a one party kleptocracy and will continue to build to keep money flowing to companies controlled by the ruling elite. Think of the Democratic party and ACORN, SEIU, PMA, etc. |
| Posted by: DoDo 2009-03-18 11:18 |
| #6 Yes. And buying up the world's resource companies with the dollars they know will depreciate shortly. |
| Posted by: ed 2009-03-18 09:07 |
| #5 I thought China was overbuilt, at least in terms of housing, and they've finished the Three Gorges Dam. Are they building roads and bridges now? |
| Posted by: trailing wife 2009-03-18 09:05 |
| #4 Well, there is hope for CAT in China. Their stimulus is actually building things instead of shoveling billions $ to Deutsche Bank. |
| Posted by: ed 2009-03-18 08:39 |
| #3 There's a downturn in the construction industry, and that's bad news for people who make construction equipment--more than any boycott by a bunch of Palestinian sympathizers. |
| Posted by: Mike 2009-03-18 08:36 |
| #2 I have a relative who works at Cat Peoria. Like many, he didn't go down to the Obama function. He did tell me that CAT CEO Jim Owens was a little put off with Barry's statement about the "stimulus package would stopping the 22,000 layoffs." Owens had to correct Barry's statement by later saying "I think realistically no. The truth is we're going to have more layoffs before we start hiring again." "It is going to take some time before that stimulus bill means re-hiring." |
| Posted by: Besoeker 2009-03-18 07:45 |
| #1 Is there any evidence that the boycott is having an effect? |
| Posted by: Formerly Dan 2009-03-18 07:36 |