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Cat laying off

S

Spook

Well-known Member
Just heard that cat is laying off 20k employees. This is a real hammer blow to the economy.
 
Yup, I'm sure turning off their TV would have increased their sales. yeah right!

Atleast the U.S economy is in better shape than Iceland. Iceland's banking system has collapsed according to CNN this morning. Unemployment there is worse.
 
The Army is using their engines in the Oshkosh trucks being built now. They were using Detroit engines. Hal
 
The thing I don't understand, and don't get me wrong, I know the economy has problems and construction is slowing and probably will continue to slow, but the company still made a $661 million profit for the quarter. Granted that was down from $975 last quarter of 07, but the company still made well over half a billion in profits. I'm confused, how is this bad? I guess it's just not worth being in business unless you make a billion dollar profit every quater. CEO's need to farm for a living....
 
I think they are trying to preserve what they made, why go into a loss year and noot do what you can to be preventative. I know a few people that have deposited into CAT, at a fixed return of 8% or more. I beleive some said it was eight years. Cat has to make good on that dont they. I am looking at a tough year as well and I reduced my labor for barn clean out by 80% this last time, and will be ONLY having hired help on days that NO ONE in the family will be able to do it. That'll save me a few thousand this year, and I am jusyt a small operator with a chicken barn. CAT doesnt want to go the way of past companies and wait until they are in a position of no return. I feel for the layed off, but I bet them employees have a better chance of having a job there in the near future. Cant say that for some of the others that are digging them selves deeper.
 
I am on a weeks fulough as my factory is shut down this week. Not much demand for engine valves right now. I spent most of the day Saturday putting a new water pump in my 98 Dakota. I'll have get some other jobs done around the place this week...snowy and cold here today.
I've included a link that tracks the layoffs that are happening on a daily basis.
Tom
nnalert A Website That Tracks The Layoffs On A Daily Basis
 
One thing the guys being layed off have to face is that these companies are slow to rehire. They will run ot or outsource before they will be called back. And they will invest in more productive, labor saving equipment. These days, if ya lose your job, it usually isn't coming back. If they are union, usually you will be eventually rehired, they won't hire new until the layed off are brought back. Nonunion, depends on the company.
 
I was in a valve plant in Nebraska back in the 80's. 1985 or 86. In January. Does the wind ever stop blowing there? I worked for GM. You guys made our valves. Eaton corp?
 
A neighbor kid went to the business school, and I asked a simalar question to him.

In simple terms if you raise chickens for food and you only sell half as many as you raise, you best eat chicken yourself, if that don't help, then you need to eat the eggs before they are hatched.

Kinda like why should they have all the extra labor to make products that aren't selling right now. I would not rule out that a bordering country that only exports ilegal humans may be in the big picture.

Profits are profits in big companies, labor is only a number with a name behind it. Who knows, the next step might be to lay off the CEO and all upper managment......Ok that is a long shot, and alot of the problems.

But we have seen this in neighboring towns, chopping managment positions with a sharp axe.
Never the upper limbs on the tree however, they get the axe by not getting as big a bonus as they expected.maybe I should have read the other replies before I posted this. Perhaps this has been covered already.
 
Yup...Eaton Corporation.
A couple years ago, we were making and finishing over 500,000 valves every 24 hours...plus we were producing quite a number of gears on a daily basis(@40,000?). Things have slowed down to less than half of that. We have been having to take some down days too. So you toured the factory? Pretty impressive to see all the valves going down those automation lines, wasn't it?
Yeah, that wind really blows around here...hard to find a tree that doesn't lean.
Tom
 
Yeah, got the tour, nice folks. We were tracking a head problem that was eventually traced to bad stem seals. Nice place, great people. Someday I hope to get out there on vacation. I always watch Roger Welsh on tv - I like those postcards. That old dude does a lot of promoting for Nebraska.
 
where are they laying off at ? Just announced the other day they are opening a new plant in North Little Rock, Ark this spring. I believe they said it was going to build graders which were built in Illinois or somewhere until now.
Tyler
 
Just a few short weeks ago, there was much grousing about high fuel prices and about "how bad" those high prices are for the economy. I wonder how many oil exploration outfits cancelled heavy equipment orders when oil prices plummeted? (Answer: ALL of them)

Ask one of those laid-off Caterpillar employees if he would be willing to pay four bucks a gallon for gas if it meant he got to keep his job.

Like the old saying goes: "Be careful what you ask for..."
 
I wonder how many of those layoffs are due to their exit from the highway engine market? That's due to take place for the 2010 model year, which, if I'm not mistaken will start arriving in the coming months...

Rod
 
(quoted from post at 08:38:57 01/26/09) Ours has collapse too the Gov't is holding it up for awhile until our monetary system collapses too
Click to expand...

Actually our Gov't isn't holding ANYTHING up,... everything is coming out of our pocket as "US taxpayers".
 
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