OT: Caterpillar threatening to leave Illinois!

[tornado]

Here's a story a major national corporation that closed their Illinois facilities last year and moved some of those operations to Wisconsin...

Remember - Wisconsin & Indiana were literally running billboard ads to lure Illinois businesses there...

http://watchdog.org/wp-content/blogs.dir/1/files/2014/06/GOP-signes.jpg

http://smg.photobucket.com/user/shakespeares_sister/media/shakes6/stillinnoyed.jpg.html

Well - unfortunately it didn't last long - now they're closing their Wisconsin plant as well and moving more business to low-tax Tennessee

http://wgntv.com/2015/03/10/jelly-belly-closing-wisconsin-warehouse-moving-to-tennessee/

[tornado]

...one more major Illinois corporation has now left the state and terminated every employee they had in Illinois....

And this one will be a familiar name to Bradley fans...

It is Star Trucking in Morton, IL

So, rather quietly and gradually, Star registered all their trucks in another state, and when all that got done, they sold their operations and moved to Arizona...
They still own the facility in Morton off the interstate, but they have no vehicles there and do no business out of that building.......

and

It was a story that was barely covered by the media .....the Star trucking owner sought to do -- first Oklahoma, then transferring ownership of the entire business to Arizona....now the entire business and operations are in Arizona..
notice his business is no longer even called Star Trucking or Star Transport -as that aspect of the business is now in Arizona
With >1000 vehicles registered in Illinois back in 2008, the owner of Star ... ...quietly, gradually he made good on his promise..

The PJS now has a story about Star...
Even thought the sale of Star is over a year ago - and all those trucks have disappeared...
The PJS just now has this article...
Story titled
"MORTON TRUCKING COMPANY APPEARS CLOSED" (BY Steve Stein)

http://www.pjstar.com/article/20150318/NEWS/150319059

[Da Coach]

Another long-time Peoria business, the old L.R. Nelson, Co, is leaving Illinois. Too bad.

http://www.pjstar.com/article/20150507/NEWS/150509301

[Chico]

See where the Cat CEO just got a nice raise to go along with the announcement awhile back of going to build an unneeded new headquarters all over downtown Peoria. Glad to see my loss of insurance money, along with all other ex salaried employees, is going to help Doug out.

[tornado]

yeah - not sure how one can make ends meet and make those payments on your private jet & country club memberships with just $17 million per year plus stock options..

[Chico]

yeah - not sure how one can make ends meet and make those payments on your private jet & country club memberships with just $17 million per year plus stock options..

Easy. Take away from salaried retirees.

[AZ BU Fan]

Easy. Take away from salaried retirees.

Doug and friends represent all that has gone wrong with US capitalism since the 1990's and the advent of executive 'corporate royalty' in the US.


1. Rig the system so your performance looks good by wasting billions of profit dollars in stock buy backs vs investing in acquisitions or pouring more into R & D/future technology to truly differentiate Cat products/services.

2. Undercut all hourly/salaried/monthly mgmt employees' loyalty/enthusiasm/ dedication/ long term commitment to Cat by reducing their total compensation with health care and pension cuts while making VP and executive office incredibly wealthy for their lives as well as their families lives for many generations.

The measure at Cat used to be industry leading employees with well above average total compensation while working and in retirement. The new measure is don't pay/compensate anyone below VP level any more than any other industrial company, and, wherever/whenever possible, follow other companies' leads in cutting total compensation for the worker bees.

Too bad the Cat Board if Directors doesn't take the same approach with the executive office, Group Presidents and VP's. I am certain there are other just as talented individuals at Cat and around the world who could do just as well as Dougie et al. at WAY LESS total compensation. Board, your duty is to max out value to shareholders, don't overlook your ability to do just that by cutting the excessive compensation of upper mgmt at Cat

Oh. I forgot.. Cat's Board includes ex Cat execs and other handpicked individuals. The game is still rigged.

Holt and Best are rolling in their graves at the incredible sense of absolute self worth current Cat execs have and their cash grab, while treating the rest of the Cat family as another commodity whose cost should always be adjusted downward, whenever possible.

Hard to stay proud of my career employer.

[Chico]

Telling it like it is Az.

[Old Coach]

I'm shocked at how many poor slobs they're able to trick into working for $125,000 per year.

[tornado]

but in some ways - it's like me being angered by what Michael Jordan makes...

seriously - why should it bother me - whoever pays him - that's their business and it's kinda petty if I make an issue of it...

as for Cat - they do pretty well, their stock has done well, even most of their employers' complaints ring hollow when look at how many people would line up for their jobs if they really don't want them...

[Old Coach]

but in some ways - it's like me being angered by what Michael Jordan makes...

seriously - why should it bother me - whoever pays him - that's their business and it's kinda petty if I make an issue of it...

as for Cat - they do pretty well, their stock has done well, even most of their employers' complaints ring hollow when look at how many people would line up for their jobs if they really don't want them...

I agree, tornado. My post above this one was meant to be tongue in cheek.

[Braves2006]

I'm shocked at how many poor slobs they're able to trick into working for $125,000 per year.

Tell me, who is making $125,000 a year besides the top level engineers on up?Certainly not the people who are being laid off.

[Chico]

Tell me, who is making $125,000 a year besides the top level engineers on up?Certainly not the people who are being laid off.

Nor 99 per cent of the other employees. T, I would hope people would line up for jobs. That doesn't mean they take care of their retirees.

[Chico]

Myself, and many many others, have never said that to ourselves. When we went there many years ago, and stayed there more than half of our lives, we made a livable wage and we were promised a good retirement and medical plan. That's why we went there looking for work and are not in the category of those not wanting to work as you inferred. No one is expecting Cat to "take care of me." Just facing facts.

[Old Coach]

Tell me, who is making $125,000 a year besides the top level engineers on up?Certainly not the people who are being laid off.

There are accountants at CAT making $125K per year; middle management folks.