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More evidence the Obama Stimulus is Working
DECATUR - Caterpillar Inc., announced Monday plans to permanently let go of 2,500 previously laid-off employees, and to bring 550 others back to work. The announcement came after last week's third-quarter profits registered higher than analysts expected at 64 cents per share, or $404 million. "We do believe that the third quarter marked the low point in Caterpillar sales and revenues," said spokesperson Bridget Young. "We're seeing the signs that a recovery may be under way, and based on our current demand schedules, we have the opportunity to return a selected group of employees to work." Caterpillar is not disclosing how the numbers are split between its U.S. facilities, but Young said it is safe to expect employees from the Decatur area will be permanently cut, as well as asked to return to work. "Given our footprint in the Decatur area, it's fair to say there will be people impacted in the area," she said. Since late 2008, the company has laid off 18,700 employees worldwide, Young said, or 16 percent of its work force. The 2,500 workers getting the ax will be notified with a telephone call from individual supervisors. Young said she was uncertain how long it would take to contact those that will be affected.
http://www.herald-review.co...
17 comments from 9 users
1
posted by
ronmexico
on Oct 27, 2009 at 09:58 PM
posted by
paxchristi3
on Oct 27, 2009 at 10:39 PM
Not to sound like a royal pain in the keister, but I think I'm seeing The Great
posted by
paxchristi3
on Oct 27, 2009 at 10:45 PM
Speaking of The Great Pumpkin, think ol' Djembe was out of his gourd for calling Congressman Alan Grayson his new hero? Especially after his latest remark in which he called a female federal official a "K Street whore?" posted by
LastRites
on Oct 27, 2009 at 11:29 PM
Since late 2008, the company has laid off 18,700 employees worldwide, Young said, or 16 percent of its work force. Who was the president? It was your hero GW Bush. Let's not re-write history and blame all on Obama. posted by
savvydude
on Oct 28, 2009 at 12:06 AM
LastRites? Yep, the Democrat Party is in need of them. If you will recall, the Democrats took Congress back in 2006, so that means they have been in control of the economy for almost 4 years in the House and Senate and now with Owebama. He has failed - everybody knows now. posted by
antiextremism
on Oct 28, 2009 at 07:23 AM
Bush has the dubious distinction of being the first president of the past five to oversee a decline in stocks. Those that are crying about bailouts weren't crying when Bush handed them out. There was a 4.2% decline in median income between Clinton's exit and Bush's exit. Children living in poverty went up 21% between Clinton's exit and Bush's exit. People without access to Health care insurance went up 21% when Bush was done. Under Clinton, 11.3% of Americans fell under the poverty line. 13.2% under Bush. The stock market has risen overall under Obama. But let's not let facts get in the way of a good Obama bashing. He's had 9 months we should all be wealthy by now. I do agree that the Dems on the hill haven't done diddly. One thing about the Republicans, they're all on the same page. posted by
ronmexico
on Oct 28, 2009 at 07:32 AM
Yup. Obama Brownie is doing a heck of a job... Notice how the deficts were decreasing once we got a handle on 911 and Katrina. Then the Democrats blew into town in 07 and look what they brought......
posted by
ronmexico
on Oct 28, 2009 at 07:35 AM
Those that are crying about bailouts weren't crying when Bush handed them out. Bullcrap, ANtiextremism. There were millions of conservatives that were pissed as hell that Bush was handing out bailouts. MILLIONS.... Thats why his poll numbers were so low. Enough using that lame excuse. Where were the DEMOCRATS in their dissapproval of the bailouts?? Where is the DEMOCRATS dissapproval of the MASSIVE deficits the Fence Turtle is turing in?? posted by
FloridaStateGrad
on Oct 28, 2009 at 12:48 PM
I'm getting a bit tired of both sides pointing the fingers at each other. Our current economic crisis was decades in the making - this didn't happen overnight. posted by
pogo
on Oct 28, 2009 at 12:56 PM
FSG, you are exactly right, both sides of Congress had a hand in this and will continue to unfortunately. Maybe we will wake up and start watching the moneychangers a little more closely, but I have my doubts. As far as the partisan crap, Limbaugh was calling this the "Obama recession" before the inaugeration. These guys never quit. posted by
jfrancais
on Oct 28, 2009 at 01:04 PM
Well if the Democrats are about change they have a supermajority and a Democrat president. Politically, what more could you want? Make it happen, Pelosi! El tiempo es ahora! posted by
FloridaStateGrad
on Oct 28, 2009 at 01:09 PM
Pogo - this goes far deeper than congress. Our economic crisis is a direct result of the decisions that both our government and the common citizenry have made for many years now. We've become a society slave to credit. We've become a society of overconsumption. We've become a society of impatience - we want everything right now, and we're unwilling to wait. Until, we as a complete society change our mode of thinking and our lifestyles, I fear we will always be flirting with financial catastrophe. posted by
pogo
on Oct 28, 2009 at 01:12 PM
jf, I sometimes fear that my party, the Democrats, are unable to govern effectively. This probably goes back to the old days of the New Deal coalition that FDR put together and which has now unravelled. Blue Dog Democrats are no better than moderate Republicans and liberal Dems are just like the far Right. I'll say this for the Republicans, they are united in being the party of no. posted by
defyinggravity
on Oct 28, 2009 at 01:34 PM
posted by
paxchristi3
on Oct 28, 2009 at 01:44 PM
Ditto to defyinggravity's remarks. But there certainly are folks who live within their means and are sick of the government kowtowing to those who aren't -- you'll find plenty of the former at your nearest Tea Party. By the way, I just got an e-mail that's been making the rounds since May. Might as well exhume the open letter to the undocumented president in the spirit of the scary holiday coming up to show that we have more than just a train wreck of an economy to worry about: http://www.snopes.com/polit...
posted by
jfrancais
on Oct 28, 2009 at 01:49 PM
Pogo, I'm out of the two-party system, It's not much better than what the USSR had. This conservative movement (Tea Party?) has its positives in that they are rejecting GOP and Democrats. They see that there is no way both parties can deqately address issues that affect real people. Every political issue is not quid or quo. posted by
FloridaStateGrad
on Oct 28, 2009 at 01:51 PM
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