The Headlines Have Changed For Caterpillar, Milwaukee
Remember when venerable
Bucyrus Erie was bought out by Caterpillar in 2010?
Bucyrus CEO on Caterpillar Takeover: "A Great Day"
Both CEOs stressed that this is a "growth move."
Because the two companies do not produce the same products, there is
not much overlap. The move is not expected to result in job cuts.
And
yesterday?
Caterpillar cuts more jobs in Milwaukee area
Caterpillar Inc.
has laid off another round of employees at its southeastern Wisconsin
operations, a company spokeswoman told The Business Journal Monday.
The Peoria, Ill.-based equipment manufacturer (NYSE: CAT) is cutting “support and management” positions at multiple locations, the Herald & Review newspaper in Decatur, Ill., reported....
[Caterpillar spokeswoman Rachel] Potts said the latest local layoffs are in addition to 260 production jobs cut in South Milwaukee during the summer.
That's because the mining industry is down. Orders are down. Iron ore mining politics leads to job losses in Milwaukee.
ReplyDeleteI thought an official from Caterpillar once said that mining staff tends to be shifted from project to project rather than adding significant numbers of new jobs for new projects.
ReplyDeleteCaterpillar always wins: http://www.jsonline.com/business/denial-of-loan-guarantees-could-hurt-caterpillar-b99104990z1-224942532.html
ReplyDeleteThat's because the mining industry is down. Orders are down.
ReplyDeleteYeah, teh economy is down. Maybe you heard about it?
Demand is down. Because nobody had goddamn jobs. Because the Republicans shot the economy hostage with teh sequester and the shutdown.
If you hadn't noticed, Caterpilllar doesn't actually base their business model on a maybe-mine in Wisconsin, but on actual orders. The mine in northern WI hasn't even gotten close to making orders yet, so a slowdown at Cat is due to what, again?
The recall election of last year? Or Obamacare which only went into effect today, and hardly affects Caterpillar and their employees.
"so a slowdown at Cat is due to what, again?"
ReplyDeleteThe United States Government's reckless fiscal policy!
"nobody had goddamn jobs."
The United States Government's reckless fiscal policy!
" teh economy is down."
The United States Government's reckless fiscal policy!
"Obamacare"
The United States Government's reckless fiscal policy!
It's kind of looking like the Roy Hill mine in Australia will make the GTAC pit redundant. Just one more reason not to despoil the Penokees.
ReplyDelete