Caterpiller Moving Mining Divison to Arlzona

[Ccc2003]

I bet they see as a big profitable co.That the taxes in az will be alot better.Lets see if John Deere will be next.The two big boys could start the faster exodus out of a state like illinois.If Culberson Gets his penney and a half per mile on your car or truck a lot of people will leave.That will be a sign of it's stupid to live here so much much that a lot of people will leave.

[Ccc2003]

I messed up with pasting the wrong title,Molly can you get this wrong title taken off.

[Bubbacs]

Three separate times........

[mauserme]

I messed up with pasting the wrong title,Molly can you get this wrong title taken off.

 

What would you like it to be changed to?

[Ccc2003]

 

I messed up with pasting the wrong title,Molly can you get this wrong title taken off.

 

What would you like it to be changed to?

 

Caterpiller moving mining divison to arlzona. Many Thanks

[jim123]

Wisconsin...

Some have speculated that Arizona offered Caterpillar more than $50 million in incentives in exchange for the jobs.

http://www.jsonline.com/business/caterpillar-to-move-mining-and-technology-division-to-tucson-b99718552z1-377992061.html

 

and illinois.

http://www.sj-r.com/article/20160503/NEWS/160509849

[MrTriple]

Sad but not surprising. The real damage would be done if a lot of the corporations and financial companies in Chicago decide to move.

[DoverGunner]

Can you Blame them ?

Cheaper , taxes , unemployment insurance , work comp insurance , cheaper property tax and a Whole lot of cheap labor

[ragsbo]

Don't blame them at all! I would leave this crappy state if I could

[Beezil]

who is john galt?

 

Just wait for the real-life version of the "Public stability Law" to keep companies from moving out of states.

[videopaul]

"Caterpillar is committed to Peoria..."

[jlowrie]

it would make sense. CAT has had a presence in Arizona for a long time. when i was a kid the Caterpillar proving grounds were near the white tank mountains before they moved them to Tuscon. you can go running on the trails up there. there is one section where you get about 800 ft elevation gain in less than a mile. awesome cardio.

[spec5]

"Caterpillar is committed to Peoria..."

Yes and that must mean their Headquarters buildings only since manufacturing has been leaving for years.

[BadWaterBill]

How long till the BIG insurance co start pulling out of Chiraq?

[mgibson61611]

 

"Caterpillar is committed to Peoria..."

Yes and that must mean their Headquarters buildings only since manufacturing has been leaving for years.

That's largely correct; we have manufacturing scattered all over the world (speaking as a Cat employee)

[spec5]

 

 

"Caterpillar is committed to Peoria..."

Yes and that must mean their Headquarters buildings only since manufacturing has been leaving for years.

That's largely correct; we have manufacturing scattered all over the world (speaking as a Cat employee)

LOL. I know. They manufacture absolutely nothing in Peoria. Everything is manufactured elsewhere. Peoria is their World Headquarters. Now up the River in Mossville and across the river in East Peoria where the Manufacturing is locally and can't forget Mapleton and then there is the rest of Illinois and the World. My Father worked at both Mossvile and Headquarters and all my wife's family works there or did. Since you say you are an employee I wish you luck and the best for you and your family. BTW I don't live far from the UAW 974 union hall that is POSTED. I hope you don't back the unions list of candidates who oppose all Republcans.

[Aegis]

"Caterpillar is committed to Peoria..."

Caterpillar, is committed to letting Mr. Oberhelman gut the corporation, bind their legs, their hands and slit their wrists,. At the rate he is torpedoing the company, when mining DOES pick back up again (and it will, it always does, its a cyclical market), they *will not* be in any sort of position to even attempt to fulfill demand. Myself, and everyone in my household used to work in Joliet, and it really does hurt to see just how little their people matter to them. My best friends father works in Aurora, spent almost 5 years helping bring a line into aurora, and installed a multi-million dollar machining complex to support that work. They ripped it out of the floor a few months ago to scrap. Not move, not sell, scrap. 8 million dollars. poof.

 

So as a former employee, who still would be if $50 BILLION in profit was enough for a year, I hope for the sake of everyone who isn't jumping ship (Like Oberhelman's replacement already did), that they replace the CEO, soon. While there is still a company to save.

[mgibson61611]

"LOL. I know. They manufacture absolutely nothing in Peoria. Everything is manufactured elsewhere. Peoria is their World Headquarters. Now up the River in Mossville and across the river in East Peoria where the Manufacturing is locally and can't forget Mapleton and then there is the rest of Illinois and the World. My Father worked at both Mossvile and Headquarters and all my wife's family works there or did. Since you say you are an employee I wish you luck and the best for you and your family. BTW I don't live far from the UAW 974 union hall that is POSTED. I hope you don't back the unions list of candidates who oppose all Republicans. "

 

 

 

Cheers. I appreciate the well wishes; and no sir...I'm not backing any candidates that don't represent my interests & beliefs.

[onastring]

 

"Caterpillar is committed to Peoria..."

 

Caterpillar, is committed to letting Mr. Oberhelman gut the corporation, bind their legs, their hands and slit their wrists,. At the rate he is torpedoing the company, when mining DOES pick back up again (and it will, it always does, its a cyclical market), they *will not* be in any sort of position to even attempt to fulfill demand. Myself, and everyone in my household used to work in Joliet, and it really does hurt to see just how little their people matter to them. My best friends father works in Aurora, spent almost 5 years helping bring a line into aurora, and installed a multi-million dollar machining complex to support that work. They ripped it out of the floor a few months ago to scrap. Not move, not sell, scrap. 8 million dollars. poof.

 

So as a former employee, who still would be if $50 BILLION in profit was enough for a year, I hope for the sake of everyone who isn't jumping ship (Like Oberhelman's replacement already did), that they replace the CEO, soon. While there is still a company to save.

$50B in profits? If you don't know the difference between revenue and profit, you really have no right to criticize Doug's business acumen.

[Aegis]

 

 

"Caterpillar is committed to Peoria..."

Caterpillar, is committed to letting Mr. Oberhelman gut the corporation, bind their legs, their hands and slit their wrists,. At the rate he is torpedoing the company, when mining DOES pick back up again (and it will, it always does, its a cyclical market), they *will not* be in any sort of position to even attempt to fulfill demand. Myself, and everyone in my household used to work in Joliet, and it really does hurt to see just how little their people matter to them. My best friends father works in Aurora, spent almost 5 years helping bring a line into aurora, and installed a multi-million dollar machining complex to support that work. They ripped it out of the floor a few months ago to scrap. Not move, not sell, scrap. 8 million dollars. poof.

 

So as a former employee, who still would be if $50 BILLION in profit was enough for a year, I hope for the sake of everyone who isn't jumping ship (Like Oberhelman's replacement already did), that they replace the CEO, soon. While there is still a company to save.

$50B in profits? If you don't know the difference between revenue and profit, you really have no right to criticize Doug's business acumen.

 

Fine, we can split hairs since I obviously didn't take the time to type every nuance of finance out in detail in my anger, shame on me. When I was laid off, the company raked in 65 billion dollars in sales, parts, and sundry bull. So the take home after paying for R&D, and the lights, and all the other stuff, was 8 and a half billion dollars. That was the best the company has done since 1947. Instead of reinvesting in the corporation to grow the business, the "acumen" of Mr. Oberhelman has been nothing short of suicidal if you are a business owner. He has cut nearly 1/4 of the entire global number of plants, completely, since then and more are coming. Their GLOBAL manufacturing footprint has shrunk by nearly 1/3rd.

 

Caterpillar has been a huge part of my life. My grandfather worked for the company, my father, my mother, myself, my best friend, his entire family. 30 years my family has been part of that company, and Doug is pissing it down the drain. So yea, when I see 900 people in my plant get laid off, and thousands more across the country, the same week our CEO gives himself a 4 million dollar raise, I absolutely have a right to criticize his "acumen". Just like I criticize the scheme hes been working with the swiss to avoid paying taxes on large sums of the companies revenue every year. Or anything else I damn well feel like. I'm entitled to my opinion, just as you are entitled to yours. Now go back under your bridge.

[heckler40]

I work with a couple companies in this sector (my peer works with Cat) and it's in a global depression.

 

Here's a link to Cat's financials

 

http://www.caterpillar.com/en/investors/quarterly-results.html

 

2016 Q1 revenue is down 25% from last year. While revenue was down 25%, the company didn't shrink 25% (yet). I am not disagreeing with most of what you said, the above is the reality of Cat (and others in the sector) and you should be aware of this. That means challenges across the board which you are, unfortunately, a part of. And, there's more to come. This environment will be here to stay for a couple more years and probably will not return to heyday. The demand is just not there (US and Canada are the major markets).

 

We do need to return some jobs to the US and be more competitive. Hopefully the next President will help us do that.

[SiliconSorcerer]

"Caterpillar is committed to Peoria..."

Same this State Farm said before the new CEO who's son has already moved to TX, it's on the way out as well.

Depending on the direction you go it can be ugly already, when they leave the best thing you can hope for is a fire.

[Jsanc]

it would make sense. CAT has had a presence in Arizona for a long time. when i was a kid the Caterpillar proving grounds were near the white tank mountains before they moved them to Tuscon. you can go running on the trails up there. there is one section where you get about 800 ft elevation gain in less than a mile. awesome cardio.

How about Squaw Peak

[skinnyb82]

I see this as the first major move that Cat is making to wind down in Illinois. Nixed its new corporate HQ and moving an entire division to a different state. My neighbor is an engineer for Cat and I believe he was just laid off which sucks for him since he brings down six figures and indulges his wife's Amazon addiction.

 

Sent from my VS987 using Tapatalk

 

 

[spec5]

Caterpillar moving Headquarters from downtown Peoria to Deerfield Illinois. About 100 people to make the move.

[C0untZer0]

Dick will be along any minute now to strongarm the company and threaten them with the loss of all their government contracts unless they keep everything in Illinois

[Chitownshooterz]

My old company was large supplier of diesel engine oil pumps for their engineer plant. Most of the business disappeared when they moved down to Texas. A lot more casualties than CAT employees.

[Chitownshooterz]

My old company a was large supplier of diesel engine oil pumps for their engine plant. Most of the business disappeared when they moved down to Texas. A lot more casualties than CAT employees.

[Chitownshooterz]

My old company a was large supplier of diesel engine oil pumps for their engine plant. Most of the business disappeared when they moved down to Texas. A lot more casualties than CAT employees.

[FarmHand357]

My old company a was large supplier of diesel engine oil pumps for their engine plant. Most of the business disappeared when they moved down to Texas. A lot more casualties than CAT employees.

 

Dude, did a key get stuck?