Caterpillar CEO Contradicts President on Whether Stimulus Will Allow Him to Re-Hire

Discussion in 'Economy' started by KMAN, Feb 13, 2009.

  1. KMAN
    Offline

    KMAN Senior Member

    Joined:
    Jul 9, 2008
    Messages:
    2,683
    Thanks Received:
    268
    Trophy Points:
    48
    Ratings:
    +269
    This Obama guy needs to go back to community organizing....

    EAST PEORIA, ILL. -- President Obama today repeated the claim we asked about yesterday at the press briefing that Jim Owens, the CEO of Caterpillar, Inc., "said that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off."

    Caterpillar announced 22,000 layoffs last month.

    But after the president left the event, Owens said the exact opposite.

    Asked if the stimulus package would be able to stop the 22,000 layoffs or not, Owens said, "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, he said.


    Political Punch: D'oh! Caterpillar CEO Contradicts President on Whether Stimulus Will Allow Him to Re-Hire Laid Off Workers
     
  2. WillowTree
    Offline

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,121
    Thanks Received:
    10,159
    Trophy Points:
    2,030
    Ratings:
    +14,669
    Uh, oh,,, somebody didn't do their homework.. the DUmmies been DUped again.
     
  3. indago
    Offline

    indago VIP Member

    Joined:
    Oct 27, 2007
    Messages:
    1,049
    Thanks Received:
    98
    Trophy Points:
    85
    Ratings:
    +180
    Is anybody really surprised?
     
  4. Valerie
    Offline

    Valerie Gold Member

    Joined:
    Sep 17, 2008
    Messages:
    24,624
    Thanks Received:
    5,980
    Trophy Points:
    290
    Ratings:
    +10,295
    It's not surprising since that type of restructuring is not so simple.

    CATERPILLAR LAYOFFS: Caterpillar layoffs due to 4Q profit falls 32 pct -- chicagotribune.com
     
  5. auditor0007
    Offline

    auditor0007 Gold Member

    Joined:
    Oct 19, 2008
    Messages:
    12,566
    Thanks Received:
    2,255
    Trophy Points:
    255
    Location:
    Toledo, OH
    Ratings:
    +3,218
    Hmmm, looks like my original post was on the money. I must be smarter than the average Yogi Bear.
     

Share This Page