Disir
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- Sep 30, 2011
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A day after federal authorities raided Caterpillar's headquarters, surprising executives, agents were concluding an on-site investigation Friday, and the heavy machine-maker's share price hadn't fully recovered.
Nevertheless, experts say the Caterpillar brand will likely emerge largely unscathed.
Authorities from three agencies, including the Internal Revenue Service, descended on three of the Peoria-based company's facilities Thursday morning to gather information tied to a parts subsidiary based in Switzerland and other records.
That subsidiary has drawn scrutiny for eight years, sparking a whistleblower suit, a Senate investigation, shareholder lawsuits, and billions of dollars in proposed taxes and penalties that Caterpillar continues to fight. But besides snagging national headlines and causing a slight dip in its share price, the raid seems to have had little immediate impact on the company's reputation.
Despite raid by feds, Caterpillar reputation may emerge unscathed, experts say
A dip does not a dent make. This should have been investigated way earlier but no, let us wait 20 years afterwards to really get into it.
Nevertheless, experts say the Caterpillar brand will likely emerge largely unscathed.
Authorities from three agencies, including the Internal Revenue Service, descended on three of the Peoria-based company's facilities Thursday morning to gather information tied to a parts subsidiary based in Switzerland and other records.
That subsidiary has drawn scrutiny for eight years, sparking a whistleblower suit, a Senate investigation, shareholder lawsuits, and billions of dollars in proposed taxes and penalties that Caterpillar continues to fight. But besides snagging national headlines and causing a slight dip in its share price, the raid seems to have had little immediate impact on the company's reputation.
Despite raid by feds, Caterpillar reputation may emerge unscathed, experts say
A dip does not a dent make. This should have been investigated way earlier but no, let us wait 20 years afterwards to really get into it.
