After the CAT CEO contradicted Obama when the anointed one tried to use CAT as a prop to pitch his stimulus? jobs plan.
“No. We aren’t really going to be hiring any new people.”
In the 1980’s Cat stood up to the UAW and said NO to pattern bargaining (What the UAW gets in Detroit you rollover and do the same in Peoria). What followed was a long strike and replacement workers crossing the picket line to keep Cat going. After awhile UAW many workers crossed too, resulting in the collapse of the Unions bargaining position. Twenty some years later, the Union is still in Cat, but they don’t hold CAT by the balls. As a result CAT has been extremely successful and profitable. Had GM stood up to the Union 20.yrs ago things could well be different in Detroit. No bailout and bondholders not getting screwed by the Govt in favor of the unions.
If CAT leaves Peoria it will be devastating..