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(Forbes)   Caterpillar emerges from its budgetary cocoon, shocks the Stock Market after emerging as a butterfly with cash wings in the second quarter   (forbes.com) divider line 13
    More: Cool, caterpillars, stock markets  
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788 clicks; posted to Business » on 25 Jul 2012 at 1:22 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-25 01:38:57 PM
Strained metaphor is retarded.
 
2012-07-25 01:47:20 PM
So their strategy of giving their CEO a huge raise while trying to force all of their employees to take massive pay cuts seems to be working. Good for them.
 
2012-07-25 01:47:25 PM
This is good news for my stepdad.
 
2012-07-25 01:48:04 PM

Arthen: Strained metaphor is retarded.


I don't know. I read it fairly fast. Are you sure you aren't a little slow?
 
2012-07-25 01:49:23 PM

Arthen: Strained metaphor is retarded.

....after emerging has a butterfly....


And f'd up to boot.
 
2012-07-25 02:28:04 PM
So their strategy of union busting is paying off for shareholders; hooray for job creators!
 
2012-07-25 03:28:36 PM
I'm hard-pressed to think of a company that I hate more than Caterpillar. Even reading their name in the headline to this article made me utter 'fark Caterpillar' under my breath.

There was a locomotive factory in London, ON. The government gave Caterpillar a bunch of money to keep the factory open after Caterpillar purchased it. Caterpillar basically gave the union one extension on their contract, then demanded that people with 30+ years of machinist experience reduce their wages to below what an entry-level machinist would earn, give up their pensions and health benefits, and locked out all the workers when they refused. Both Caterpillar and this factory were reporting record profits at the time, so reducing costs in such an extreme manner wasn't necessary.

After a few months of the lockout, Caterpillar closed the factory and shipped all the manufacturing equipment to a newly built factory south of the border. At no point was Caterpillar negotiating in good-faith with the workers and my tax money helped to pad their bottom line while they left 500 Londoners waiting in the unemployment line.
 
2012-07-25 03:30:00 PM
Damn... What happened to them since ~march?

/haven't followed them since I sold my Cat stock in march.
 
2012-07-25 04:07:43 PM
Just as long as all businesses do this so the aggregate wealth goes down and all domestic business eventually collapses.
 
2012-07-25 04:31:26 PM

CrowdSceneExtra: I'm hard-pressed to think of a company that I hate more than Caterpillar. Even reading their name in the headline to this article made me utter 'fark Caterpillar' under my breath.

There was a locomotive factory in London, ON. The government gave Caterpillar a bunch of money to keep the factory open after Caterpillar purchased it. Caterpillar basically gave the union one extension on their contract, then demanded that people with 30+ years of machinist experience reduce their wages to below what an entry-level machinist would earn, give up their pensions and health benefits, and locked out all the workers when they refused. Both Caterpillar and this factory were reporting record profits at the time, so reducing costs in such an extreme manner wasn't necessary.

After a few months of the lockout, Caterpillar closed the factory and shipped all the manufacturing equipment to a newly built factory south of the border. At no point was Caterpillar negotiating in good-faith with the workers and my tax money helped to pad their bottom line while they left 500 Londoners waiting in the unemployment line.


So very much this.

/Why, yes, I do live in London
 
2012-07-25 05:13:00 PM

CrowdSceneExtra: I'm hard-pressed to think of a company that I hate more than Caterpillar. Even reading their name in the headline to this article made me utter 'fark Caterpillar' under my breath.

There was a locomotive factory in London, ON. The government gave Caterpillar a bunch of money to keep the factory open after Caterpillar purchased it. Caterpillar basically gave the union one extension on their contract, then demanded that people with 30+ years of machinist experience reduce their wages to below what an entry-level machinist would earn, give up their pensions and health benefits, and locked out all the workers when they refused. Both Caterpillar and this factory were reporting record profits at the time, so reducing costs in such an extreme manner wasn't necessary.

After a few months of the lockout, Caterpillar closed the factory and shipped all the manufacturing equipment to a newly built factory south of the border. At no point was Caterpillar negotiating in good-faith with the workers and my tax money helped to pad their bottom line while they left 500 Londoners waiting in the unemployment line.


Replace *where you are talking about* and *that company* with anywhere not china/india and any other company and it still fits.
 
2012-07-25 08:35:16 PM
Dear Caterpillar,

GO F*CK YOURSELF
 
2012-07-26 09:52:18 AM
Meanwhile, the strike in the US continues and is heading for three months now. The company refuses to negotiate with the union, and is insisting on increasing healthcare costs, freezing pay, reduced pensions, and crippled seniority. So CAT has been scabbing out the work, yet nobody has cared.

Damn, what happened to union power? I guess that's what three decades of bad mouthing unions in the national press gets you. People who should be in solidarity with the blue collar guys instead look at them like leeches, while they lionize CEOs who don't do anything but f*ck the poor for the bottom line.
 
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