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Caterpillar Crawling Along. Barely

Back in February of this year, when a hyperventilating President Obama claimed that the Stimulus bill must pass with the utmost urgency, he had a pow-wow with James Owens, CEO of the machinery giant Caterpillar, Inc.

From msnbc.com:

President Barack Obama said [...] that heavy-equipment maker Caterpillar has informed him it will rehire some of the thousands of workers it has laid off in recent weeks if Congress passes an economic stimulus bill.

"The time for talk has passed," Obama said.

The world's largest maker of mining and construction machinery announced more than 22,000 job cuts last month (January) amid waning demand for its products.

Well, it's a good thing that Obama and the Congress rushed to pass that bill, 'cause the future's looking mighty bright for the company.

From centralillinoisproud.com:

Caterpillar Thursday reported a decline of 50 percent in worldwide machinery sales for the three months ending in October. The world's largest construction manufacturer said sales for the three month period in North America were down 58 percent since last year while sales in Europe, Middle East sales were down 41 percent while Asia Pacific sales were down 39 percent from the same period a year ago. Engine sales , according to a company release, dropped 30 percent from a year ago.

Heck of a job, Barry!


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Comments (22)

Hope and change, right?... (Below threshold)
GianiD:

Hope and change, right?

Anyone who voted for Fauxbama thinking he had the credentials to run a country is a friggin moron. They deserve whatever happens to them because of this idiot.

Are you saying Caterpillar ... (Below threshold)
Steve Green:

Are you saying Caterpillar would have been better off not receiving stimulus money?

Of course not -- you obviously haven't thought this through that far.

I'm looking forward to the day this blog stops celebrating bad news. Americans are still struggling, with thanks to the do-nothing Republicans, and seeing you folks celebrating America's struggle is kinda disheartening.

Someday you folks will join the rest of the country in rebuilding what was destroyed by the Bush administration.

Someday, but obviously not today.

I'm looking forwar... (Below threshold)
iwogisdead:
I'm looking forward to the day this blog stops celebrating bad news.

Cry me a river, dufus. Any reports on the Obama economy are "bad news," so you'd better get used to it. The Child President has plunged us into a debt that will take decades to recover from, all on claims like this one--"we gotta save Caterpillar!!!"

Obama has set up the destruction of the dollar and the economy because he and his band of libtards have no fricking idea of what to do. Except to blame Bush, of course, just as you keep doing. Tells me you and Barry are plum outta ideas. Let's do a "listening tour!!"

Steve,1) Who said ... (Below threshold)
Shawn:

Steve,

1) Who said anything about Caterpillar receiving any stimulus funds? Did they? I didn't suggest that. Nobody has. If you have proof they did, then let us know.

2) The Congress has been under the control of Democrats for 34 months. Obama's had the White House for almost a year. The "do-nothing Republicans" don't have the power to pass or stop anything.

3) Pointing out things this Administration and this Congress have or have not done isn't "celebrating."

You may cower in denial all you like, but, the current situation belongs to you and your ilk.

The current problems in this country may not be able to have been fixed over the past 10 months, but they sure as hell have been made far worse.

You obviously haven't thought this through that far.

Steve Green: "I'm lookin... (Below threshold)

Steve Green: "I'm looking forward to the day this blog stops celebrating bad news."

No one is "celebrating" bad news...but many of us ARE eager to see the REAL news get reported and acted upon.

During Bush's Presidency the media MADE UP bad news. When unemployment was 6% under Bush the NY Times led the charge declaring us on the brink of a DEPRESSION!! That was 2004. Why that year? They wanted to help Kerry get elected.

Now that unemployment is 10.2% the NY Times has coined the term "FUNemployment"!

And the Obama Regime has invented the term: "Saved OR Created!" to mask the failure of their Orwellian named: "Stimulus Package".

Obama lied...the economy died!

8.7 million jobs lost since... (Below threshold)
GianiD:

8.7 million jobs lost since that Cali *unt has been the Speaker.

If I was in a position to p... (Below threshold)
AStoner:

If I was in a position to pick between Caterpillar and another company that did not push for the stimulus package equipment, I would add some points to the other company in purchasing dicisions, even if it is just a +1 out of 1000 points, it could drive +17% fall in US sales compared to the rest of the world.

I'm sure Mr. Owens has assu... (Below threshold)
Nancy's Nazi:

I'm sure Mr. Owens has assured the CAT board things will be much better, revenue and EBDIT improving dramatically, as soon as the next stimulus passes.

Steve Greens dumbass postin... (Below threshold)
914:

Steve Greens dumbass postings here are an exact replica of Barry's handling of the economy.

In other words, their both useless idiots!

Hmmm . . . Obama used the s... (Below threshold)
Jim Addison:

Hmmm . . . Obama used the second half of the TARP money to buy GM and Chrysler, the stimulus to save SEIU government jobs at the state and local level, plus a bit for the old cronies like ACORN. Now they're talking about MORE "stimulus"???

Oh, sorry, they DARE NOT use that word against, lest they find themselves slowly twisting in the wind along K Street. Now it's called a "jobs package."

Man, this Obama recovery sure is coming along just swimmingly, isn't it?

I can understand how the wistfully naive might have voted for Obama, given the widespread disapproval of W at the end of his term and his moderate-sounding campaign, despite his complete lack of accomplishment or experience.

Those who still support him have to be stupid or so anti-American they wish to see the nation destroyed. There can be no other rational explanation.

IIRC, the CEO of Caterpilla... (Below threshold)
Poole:

IIRC, the CEO of Caterpillar not only denied the statement that was attributed to him by President Obama, he said that Caterpillar would have more layoffs before they could start re-hiring furloughed employees.

"The time for talk has pass... (Below threshold)
GarandFan:

"The time for talk has passed," Obama said.

Yeah, Barry. It has.

As for little Stevie "Echo Chamber" Green. Same shit, different day.

I'm looking forward to t... (Below threshold)
James Cloninger:

I'm looking forward to the day this blog stops celebrating bad news.

Okay, I have some good news...

I just switched to Geico!

Happy?

I looked up Steve Green in ... (Below threshold)
BluesHarper:

I looked up Steve Green in the dictionary and it said "Dikhed".

Sorry Steve, I don't have the vocabulary as these other folks and I resorted to profanity, but you bring out the worst in me.

When you say, "I'm looking forward to the day this blog stops celebrating bad news." I'm wondering why was okay for you and your kind to celebrate bad news when Bush made an alleged miss-step or any time our soldiers died you and your kind celebrated that like it was a triumph - something to brag about. I had the feeling you and your kind were happy that our soldiers died which proved the liberals were right about being against the war (before they were for the war) that was HIGHLIGHTED day in and day out by your kind and the main stream media - you know, Oprah, The View, Comedy Central, Late Night Talk Shows and other prestigious News outlets like that.

You say we haven't "thought this through". That is rich coming from someone who can't think at all. If Oprah wants you to have a thought she will give it to you.

I wish I was as smart as the people who comment on this blog but I'm not so I just want to say - fuk U and the horse you rode in on.

Pass the beer nuts.

Maybe Caterpillar could hol... (Below threshold)
Rachel:

Maybe Caterpillar could hold a pancake feed to help raise money.

Shall we take stock of all ... (Below threshold)
sam:

Shall we take stock of all the good news since Obama took over?

1. $787 bn stimulus has taken unemployment from 7.2% to 10.2%, extra 3m unemployed

2. Annual fed deficit quadrupled, to $1.4 trillion

3. Housing - forclosures still rising

4. Iraq? - yep, still there

5. Afghanistan? - yep, still there, while sucks his own d*ck

6. Gitmo? - yep, still there

7. GM, Chrysler? - still bankrupt


Can't take all this happy news, Steve?

sam :"5. Afghanistan? - ... (Below threshold)

sam :"5. Afghanistan? - yep, still there, while sucks his own d*ck"

If Obama demonstrates that at the State of the Union then , and only then, will I cut him some slack!

I expect, however, that he will merely IMAGINE it happening, like the 1 million jobs "saved or created"

Note: No presence indicat... (Below threshold)
Ray:

Note: No presence indicated for Steve Green...

stevie green laments "se... (Below threshold)
zaugg:

stevie green laments "seeing you folks celebrating America's struggle is kinda disheartening" when we had Socialists like him tearing down anything Prez Bush did for 8 years. A 40,000 job loss was a disaster blah, blah meanwhile Odufus destroys our economy in the name of "fairness" and we are supposed to sit idly by.
No.
We are taking back our country from the Marxists in control now. The Socialist projected for years about Dubya and martial law. 2012. It can be a peaceful exchange or it may not.

Never ever trust a liberal ... (Below threshold)
Flu-Bird:

Never ever trust a liberal lunkhead lying demacreep OBAMA is a absolute disgrace

Caterpillar stock is up<... (Below threshold)
Just John:

Caterpillar stock is up 40% since inauguration.
Would that we all had such problems.

"Are you saying Caterpil... (Below threshold)
914:

"Are you saying Caterpillar would have been better off not receiving stimulus money"


No... Duh?,

But "We", sure as hell woulda had another 50 gazillion dollars to stimulate something that actually stimulates back Guthrie!




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