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(Reuters)   Special Report: How Caterpillar got bulldozed in China - "Wang was sacked"   (reuters.com) divider line 13
    More: Interesting, Caterpillar Inc., special reports, electrical equipment, startup company, holding company, coal mines, American Chamber of Commerce  
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1560 clicks; posted to Business » on 23 Jan 2014 at 9:03 AM (30 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



13 Comments   (+0 »)
   
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2014-01-23 02:43:38 AM
"Well, c'mon, that Wang wasn't going to sack itself."
 
2014-01-23 09:34:59 AM
Who the fark trusts ANYTHING said by a mainland Chinese company?

It's like believing, "This time, I'm sure our Sicilian trash removal contract will be free of mafia influence".
 
2014-01-23 09:40:29 AM
Wunning also told the board that Siwei's average receivables had grown to an extraordinary 371 days, according to filings in connection to the court case.
....
Unsold goods were also a problem for Siwei. At the end of 2010, the average number of days Siwei's products sat in storage was 414, double what it was during China's economic slowdown in 2009.



Sounds like a solid investment.  Buy Mortimer BUY.
 
2014-01-23 09:50:33 AM
Did he tell them that he was Jewish?
 
2014-01-23 10:17:16 AM

Cubicle Jockey: Who the fark trusts ANYTHING said by a mainland Chinese company?

It's like believing, "This time, I'm sure our Sicilian trash removal contract will be free of mafia influence".


A few years ago the company my buddy works for was doing business in China. First question I asked him was "Why?" Last I heard they are GTFO of there as fast as they can, it's costing them way more than it is worth. I think they are going to try Vietnam now.
 
2014-01-23 11:17:04 AM
Isn't Cat the company that spent the last 5 to 10 years farking over their US and Canadian workers while they were making record profits, you know, for the most valuable of all people in the universe, the shareholders?  Now they are getting farked by the Chinese AND getting sued by the major shareholders.

Hold my coffee while I laugh at the them, yet cry for the workers that are going to get even more farked over now.
 
2014-01-23 12:23:53 PM
I bet Caterpillar isn't the only company to get screwed over in China.
 
2014-01-23 01:09:18 PM
Volvo lost its ass in China too.
 
2014-01-23 01:10:48 PM

wingnut396: Isn't Cat the company that spent the last 5 to 10 years farking over their US and Canadian workers while they were making record profits, you know, for the most valuable of all people in the universe, the shareholders?  Now they are getting farked by the Chinese AND getting sued by the major shareholders.

Hold my coffee while I laugh at the them, yet cry for the workers that are going to get even more farked over now.


My thoughts exactly
 
2014-01-23 01:16:12 PM

wingnut396: Isn't Cat the company that spent the last 5 to 10 years farking over their US and Canadian workers while they were making record profits, you know, for the most valuable of all people in the universe, the shareholders?  Now they are getting farked by the Chinese AND getting sued by the major shareholders.

Hold my coffee while I laugh at the them, yet cry for the workers that are going to get even more farked over now.


this is true. there was a protest recently over closing a factory in london ont.
 
2014-01-23 01:55:22 PM

wingnut396: Isn't Cat the company that spent the last 5 to 10 years farking over their US and Canadian workers while they were making record profits, you know, for the most valuable of all people in the universe, the shareholders?  Now they are getting farked by the Chinese AND getting sued by the major shareholders.


Cat was also the totem company everyone used as a counter-example to me when, five years ago or so, I'd say "American companies getting into bed in China are uniformly getting fleeced for cash, IP, or both".  They'd say, "No... Caterpillar is doing gonzo".
 
2014-01-23 04:50:06 PM

Lawnchair: wingnut396: Isn't Cat the company that spent the last 5 to 10 years farking over their US and Canadian workers while they were making record profits, you know, for the most valuable of all people in the universe, the shareholders?  Now they are getting farked by the Chinese AND getting sued by the major shareholders.

Cat was also the totem company everyone used as a counter-example to me when, five years ago or so, I'd say "American companies getting into bed in China are uniformly getting fleeced for cash, IP, or both".  They'd say, "No... Caterpillar is doing gonzo".


Now we can add Caterpillar to such greats as "American Semi-conductor."

They are still around, but getting all your technology and manufacturing processes blatantly stolen drove them into bankruptcy.

Anybody who opens a plant on Mainland China at the expense of western jobs deserves what's coming.

Michelin is next.
 
2014-01-23 09:49:52 PM

wingnut396: Isn't Cat the company that spent the last 5 to 10 years farking over their US and Canadian workers while they were making record profits, you know, for the most valuable of all people in the universe, the shareholders?  Now they are getting farked by the Chinese AND getting sued by the major shareholders.

Hold my coffee while I laugh at the them, yet cry for the workers that are going to get even more farked over now.


Yup. Meanwhile, families were destroyed, over on this side of the pond.  LOLFREEMARKETWUNDERBARLAND
 
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