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Don’t Feel Sorry For Caterpillar

By: BigGator5 (Diary)  |  March 28th, 2010 at 08:00 AM  | 

RESIZE: AAA

Don’t you dare feel sorry for Caterpillar or for it’s CEO Jim Owens.

(via LaborUnionReport and AoSHQ) They, along with other big-name companies, will be losing a total of BILLIONS of private sector dollars because of ObamaCare. This has caused Henry Waxman and Bart Stupak of the House Subcommittee on Oversight and Investigation to call them up and grill them on the numbers.

However don’t you dare feel sorry for Caterpillar CEO Jim Owens. He did, after all, choose to get in bed with Obama over the $787 Billion Crap Sandwich.

So when you tune into C-SPAN and watch Democrats grill Jim Owens and he is sitting there looking like a nervous deer in headlights, don’t pitty him. Point and laugh at him. As we all know that when you dance with the devil in pale moonlight, you shouldn’t be shocked when the devil burns you later in the night. If I was a stock owner, I be hopping mad right now asking for Jim Owens’ head.

If I was on that committee hearing, I would ask Jim Owens how much in stimulus money he has gotten and ask him if he would give some of that money to other companies who are now going to be burned by ObamaCare. I honestly want to see how he answers that question.

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  • http://www.laborunionreport.comandhttp://www.laborunionreport.blogspot.com LaborUnionReport

    As soon as Obama walked out the door, the CEO basically said the President was full of crap.

    http://blogs.abcnews.com/politicalpunch/2009/02/doh-caterpillar.html

    President Obama today repeated the claim we asked about yesterday at the press briefing that Jim Owens, the CEO of Caterpillar, Inc., “said that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off.”

    Caterpillar announced 22,000 layoffs last month.

    But after the president left the event, Owens said the exact opposite.

    Asked if the stimulus package would be able to stop the 22,000 layoffs or not, Owens said, “I think realistically no. The truth is we’re going to have more layoffs before we start hiring again”

    “It is going to take some time before that stimulus bill” means re-hiring, he said.

    • izoneguy

      http://money.cnn.com/2009/07/14/news/companies/att_stimulus/index.htm

      Experience counts. AT&T has been working on government projects for years, and at one time, it was the only game in town. AT&T was a monopoly until the mid 1980s. In fact, it wasn’t until 1989 that the government opened up its first telecom contract to a company other than AT&T, when 40% of the government’s communications contracts were awarded to rival Sprint (S, Fortune 500), giving “just” 60% to AT&T.

      AT&T struggled through the 1990s. And when those big federal telecom contracts were up for renewal 10 years ago, the company was completely left out for the first time ever.

      But since then, AT&T has clawed its way back to the lucrative federal sphere, gaining scores of federal networking contracts with 20 different agencies when they were again up for renewal in 2006. The company said those contracts are worth more than $1 billion, with the first three alone worth $700 million.

      There is the money to pay those back taxes for ObamaCare….

      John Deere likes to tout the stimulus:

      http://www.deere.com/en_US/groundscare/econ_stimulus/econ_stimulus_act.html

      Under the Economic Stimulus Act of 2008, you can expense the first $250,000 of capital investment and take a 50% ?bonus? first-year depreciation on commercial equipment*!

      Verizon Could Get $1.6 Billion in Senate Stimulus Plan

      http://bits.blogs.nytimes.com/2009/01/30/senate-looks-to-stimulate-verizon/

      Four words buried in a provision to help subsidize high-speed Internet service contained in the latest Senate version of the economic stimulus legislation could mean hundreds of millions of dollars a year in tax credits for Verizon Communications, according to telecommunications analysts.

      Indeed, John Hodulik, an analyst with UBS Securities, said the provision might give Verizon $1.6 billion in credits in the next two years, even if it does not hire one more person than it currently plans to do.

      The Overlords Giveth, and Overlords Taketh Away

      For the shall bow before Lord Obama

      They shall not speak ill of the Overloads plans in press releases

      • http://www.laborunionreport.comandhttp://www.laborunionreport.blogspot.com LaborUnionReport

        • Doc Holliday
      • Doc Holliday

        nothing in your supplied quote shows why At&t should be happy about Obamacare. AT&T used to be the only game in town, ok, so? AT&T was forced to give Sprint access to the lines AT&T built, seems pretty darn fair to Sprint.

        I guess this is about attacking “corporatists” and I guess that is all well and good. But it helps when the evidence is damning in some way. Also, let’s not do Obama’s job, he is taking from Americans. Do you know the most held stock in America? It is AT&T and it’s former subsidiaries.

        • izoneguy

          who posted statements saying that ObamaCare will cost them money, are also some of the same companies who were supposed to benefit from the stimulus. I have no idea if these companies actually produced jobs and/or made a profit from taxpayer money.

          I would like to point out that if anything “negative” is thrown Barack’s way then the Congress wants to investigate it. The “corporate” entities in America are now damned if they do and damned if they don’t. My wife owns stock in AT&T, Verizon, John Deere and several “evil” oil companies.

          I am showing what the media is reporting on and how the left will spin it, how Congress will spin it…..

          What is left out of the conservation is the retirees from these companies that will be screwed. In other words….Obama is hurting business – not helping it. However, I would not expect the Marxist Obama to understand that.

          Cause & Effect…how soon before these same companies start dumping employees into the govt. pool? If ObamaCare lasts that long I guess it will be 2014.

          • http://www.laborunionreport.comandhttp://www.laborunionreport.blogspot.com LaborUnionReport

            [Posted above]…

            It is interesting to not that the majority of companies that are reporting how much Obamacare is going to cost them are commpanies that are unionized: AT&T (CWA), Verizon (CWA & IBEW), Caterpillar (UAW), John Deere (UAW), Valero Energy (Steelworkers, formerly OCAW, then PACE)?

            Union bosses pushed (and still are) the stimulus, ObamaCare and Obama himself…and their members are the first to see their companies report the losses.

            Co-incidence? Perhaps….or not.

          • Doc Holliday

            they would just as soon run them into the ground and get paid for nothing by the feds. Of course they like strikes the best, get full pay to yell and beat heads.

          • Doc Holliday

            all AT&T did was acknowledge the financial hit when they realized it per SEC regulations. they did not even complain so to speak, they just said what would happen to them. Then the Dems went on the attack and threatened this company.

            We know corporations usually play both sides and many bet on Obama this time. In some way businesses take Republicans for granted in the way the Dems take minorities for granted. The corporations are not afraid of Republicans so they support Dems for protection.

            I just think we need to say loud and clear that Obamacare is hurting us all. If it hurts some weasel I guess we can laugh, but it will truly be gallows humor as we are all in the gallows.

          • izoneguy

            h/t Breitbart.tv
            http://www.breitbart.tv/uncovered-audio-obamas-new-nlrb-appointee-pushes-no-punishment-for-hiring-illegals/

            I wonder how the union workers will feel being replaced by lower wage illegals?

          • Doc Holliday

            the union bosses see new members to skim from. The legal union members will regret it when they are undercut.

  • renny

    Are they idiot enough to go get the CEO of Cat and AT&T in handcuffs?

    Let’em. Cong will look even more stupid.

  • http://moelane.com/ Moe Lane

    We should, however, be *angry* on the employees’ behalf.

  • http://biggator5.net/ BigGator5

    Thank you for making that great point Moe. The employees’ did oppose Stimulus, so at least the employees have some sense over there.

  • http://www.laborunionreport.comandhttp://www.laborunionreport.blogspot.com LaborUnionReport

    …The ones who struck in 1994/95 (17 months), only to see Cat’s profits and productivity soar while they were all out on strike…? The same ones whose union lobbied so hard for the auto bailout/nationalization, as well as ObamaCare…?.

    You want to be angry on their behalf?

    It is interesting to not that the majority of companies that are reporting how much Obamacare is going to cost them are commpanies that are unionized: AT&T (CWA), Verizon (CWA & IBEW), Caterpillar (UAW), John Deere (UAW), Valero Energy (Steelworkers, formerly OCAW, then PACE)…

    Not sure how to feel sorry for them since their dues money was used to 1) elect Obama and 2) push ObamaCare.

    [Be careful what you wish for because you might just get it...]

  • Scope

    bringing those they disagree with up for “Congressional Hearings” because they spoke out against Obamacare. Waxman wants to bash and trash all of them in front of TV cameras, just as they did Toyota. Look at Moe’s diary, and you will see this has nothing to do with anything other than trying to silence dissent. In this case, the Caterpillar CEO supporting the stimulus is moot. This is about free speech. BTW, despite the trashing Toyota got in public view, turns out many of the accidents were do to driver error. Even the feds are agreeing with that conclusion.

  • texasgalt

    Nationalize CAT and give free dozers and backhoes to all unionized construction outfits, except Haliburton. Go bipartisan and put in Fiorina to run it. Perfect fit.

  • http://www.laborunionreport.comandhttp://www.laborunionreport.blogspot.com LaborUnionReport