Tuesday, March 17, 2009

Wrong Again Obama! Caterpillar Announces More Layoffs!

Remember last month when President Obama used Caterpillar to help push the Radical American Socialist Experiment CRAPulus Spending Bill?

Remember he said "if Congress passes our plan, this company [Caterpillar] will be able to rehire some of the folks who were just laid off."

And then remember Jim Owens, CEO of Caterpillar refuted Obama's outright lie, saying, "I think realistically no. The truth is we're going to have more layoffs before we start hiring again"

From Breitbart:

PITTSBURGH (AP) - Caterpillar Inc. on Tuesday announced plans to lay off more than 2,400 employees at five plants in Illinois, Indiana and Georgia as the heavy equipment maker continues to cut costs amid the global economic downturn.

Caterpillar, the world's largest maker of mining and construction equipment, has seen its sales wither as the sluggish world economy and credit crisis weaken demand for its products, used to build everything from houses to highways. The company had expanded dramatically in recent years, helped by a building boom in developing countries.

In response to the worsening conditions, Caterpillar in January announced job cuts that will ultimately eliminate 20,000 positions. It also said it would slash executive compensation by up to 50 percent and offer buyouts to about 25,000 U.S.-based employees. Caterpillar, which employs about 112,000 people worldwide, said it had imposed a global hiring freeze.

I swear to God this White House if full of freaking amateurs in way over their heads!

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1 comment:

  1. That is strange. What happened to all of those "shovel ready projects"? Where did all the money go from the stimulus bill? Where is all the construction work?

    Oh that’s right, when has the government done anything efficiently and quickly? NEVER