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

[KMAN]

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

 

[WillowTree]

Uh, oh,,, somebody didn't do their homework.. the DUmmies been DUped again.

 

[indago]

Is anybody really surprised?

 

[Valerie]

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

It's not surprising since that type of restructuring is not so simple.

Caterpillar layoffs
Caterpillar layoffs due to 4Q profit falls 32 pct

12:35 PM CST, January 26, 2009


" In response to worsening conditions, Caterpillar disclosed nearly 20,000 job cuts, most of which have already been made. They include 5,000 new layoffs of white collar workers, which will occur globally by the end of March.

Earlier actions include the elimination of 2,500 workers through a buyout offer announced in December, termination of about 8,000 contract and temp agency workers and the earlier reduction of 4,000 full-time factory workers through firings and buyouts."

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

 

[auditor0007]

More pay to play by Democrats?

Obama: Caterpillar will rehire if stimulus passes

Hey, that's great news. So if they hire more workers back, they'll be able to produce more tractors and whatever else they produce. Ummm, who's going to buy the excess inventory? Don't they need buyers first? Maybe I'm confused about this process. I thought comapanies produced more goods based on demand.

Auditor = again makes sense...cepting that if the stimulus passes - guess what it includes?

road building - hmmm road building...

sinatra - your like unhinged loon. The CEO told Obama catepliar would rehire...how the hell is this a pay to play?

Hmmm, looks like my original post was on the money. I must be smarter than the average Yogi Bear.