Then a couple weeks ago, Caterpillar laid off thousands of workers...Hussein is a liar.
He is incredibly stupid to bring the Caterpillar example back up, as he is a proven liar on that particular corporation.
I guess the media will call him out on that. NOT.
Got a little girl at my home tonight, her parents asked me to let her stay with my daughter because they got the pink slip today and are a bit stressed. I obliged, plus she’s a sweet girl.
Caterpillar employee for 18 years, gone.
My brother in law at the same plant, gone. Got his notice last night.
http://online.wsj.com/article/SB123871251471484469.html
APRIL 3, 2009 In France, the Bosses Can Become Hostages
PARIS -- Of the 22,000 workers Caterpillar Inc. plans to lay off this year, the French ones have perhaps the most radical tactic for negotiating their severance deals.
The world, particularly Asia, has been on a long-overdue infrastructure building binge for fifteen years now, and Caterpillar, and a few Asian firms like it, have grown handily on the additional business.
A ‘recession’ in that building market was in the cards sooner or later, no matter what the ‘financial sector’ did.
Because of the ‘financial crisis’ it came sooner, which also means it slowed before many more needed products were achieved, which also means it will rebound when the capital markets are again on a more sound footing.
Caterpillar is rightly accepting the leaner size it can maintain and preserving it’s capital base so that it is ready for the next period of growth.
This is not a tragedy, in the long run.
We are all subject to change and the cycles of change and the adjustment to those cycles is more difficult at some times than others and more difficult for some of us than others; but the real producers among us adjust and survive.