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Dow Jones Newswires | Caterpillar Inc. said it will take a $100 million charge to earnings this quarter to reflect taxes stemming from the newly enacted U.S. health-care legislation.
Deere & Co., the biggest U.S. maker of farm equipment, said
Thursday that changes to the health care law signed into law this week
will raise related costs this year by $150 million and became the
second major company in as many days to say it would take a charge for
fiscal 2010.
From the Tulsa World | About 300 people will lose their jobs when a wholly owned subsidiary of
Caterpillar Inc. closes its facility in Broken Arrow this year.
Morton, Ill.-based Caterpillar Logistics Services Inc. began operating
in Broken Arrow in 2000. The 70,000-square-foot site is the national
repair and distribution center for U.S. Cellular handsets.
A worker at Caterpillar’s plant in Mossville, Ill. (José Moré/Chicago Tribune)
Dow Jones Newswires | Caterpillar Inc. said the health-care
overhaul legislation being considered by the U.S. House of Representatives would increase the company’s health-care costs by more than $100 million in the first year alone.
In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan “because of the substantial cost burdens it would place on our shareholders, employees and retirees.”
From the Greenville News | Caterpillar Inc. said it would hire about 500 people starting this year to man its expanded Newberry operations that make diesel generators in Greenville County, S.C.
Jim Dugan, Caterpillar spokesman, said the expansion would be “a significant investment” that would increase the range of generator made at the plant.
Get the full story: greenvilleonline.com
Associated Press | Caterpillar Inc., the world’s largest maker of mining and construction equipment, said Thursday it is considering building a new factory in the U.S to produce hydraulic excavators, a common piece of construction equipment.
The company is studying building a new domestic plant that would produce several excavator models currently made at Caterpillar’s factory in Akashi, Japan.
McClatchy-Tribune News Service | As Caterpillar rebounds from
one of its worst years ever, rehiring continues at its Pontiac plant,
with 23 laid-off employees expected to return to work.
Four of those employees were on the job Monday, while another 19 are
expected to come back next week, said Larry Stine, financial secretary
for United Auto Workers Local 2096, which represents employees at the
plant.
