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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on April 21, 2009, 09:28:35 AM
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Caterpillar Says Obama Stimulus Plan ‘Missed an Opportunity’
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By Melita Marie Garza
April 21 (Bloomberg) -- Caterpillar Inc., the bulldozer manufacturer President Barack Obama used to help push his $787 billion stimulus plan, called the program disappointing and less effective than measures approved by China.
“The infrastructure portion of the stimulus package was disappointing in that it was less aggressive than other countries and missed an opportunity to correct past underinvestment in U.S. infrastructure,” Caterpillar said in economic commentary with today’s first-quarter earnings report.
Chief Executive Officer Jim Owens, 63, is a member of the president’s Economic Recovery Advisory Board. Obama visited the Peoria, Illinois, headquarters on Feb. 12, the final day of his campaign to press for Congressional passage. Caterpillar today reported its first net loss in 16 years as a global credit crunch and recession reduced demand from builders and miners.
“You can measure America’s bottom line by looking at Caterpillar’s bottom line,” Obama said during the February visit. “What’s happening at this company tells us a larger story about what’s happening in the American economy.”
Full-year profit will be about $1.25 a share excluding severance and other costs, or half the company’s January forecast, Caterpillar said. It attributed the lower forecast in part to uncertainty about stimulus plans and said the effect of U.S. measures would be “fairly limited.”
Revenue in 2009 may be about $35 billion, compared with the $38.4 billion average estimate in Bloomberg survey of analysts, the company said today. Caterpillar said the U.S. may disburse as much as $70 billion this year for infrastructure building, about 6.5 percent of last year’s total construction spending.
“We do not expect this increase to offset steep declines in private construction spending,” today’s statement said. Caterpillar is the world’s largest maker of construction equipment.
China Stimulus
Caterpillar said it does expect some benefit this year from China, which enacted a stimulus package and cut its central bank interest rates to match the 2004 low, accelerating money growth, the statement said. The actions will let China’s economy grow at a rate of more than 7.5 percent this year.
“China, with an economy one-third the size of the United States, is allocating over three times as much for infrastructure,” Caterpillar said in today’s analysis. “Initial results from this package look promising.”
Caterpillar predicted the U.S. recession in October 2007 -- two months before it officially began -- and said today it expects the world economy to decline about 1.3 percent this year. Owens came to Caterpillar in 1972 as a corporate economist.
The first-quarter net loss of $112 million, or 19 cents a share, compared with net income of $922 million, or $1.45, a year earlier. Revenue dropped 22 percent to $9.23 billion.
Caterpillar fell $1.16, or 3.8 percent, to $29.32 at 10:39 a.m. in composite trading on the New York Stock Exchange. The shares had fallen 32 percent this year before today.
To contact the reporter on this story: Melita Marie Garza in Chicago at mgarza4@bloomberg.net
Last Updated: April 21, 2009 10:51 EDT
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This is hysterical.
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Caterpillar Says Obama Stimulus Plan ‘Missed an Opportunity’
Share | Email | Print | A A A
By Melita Marie Garza
April 21 (Bloomberg) -- Caterpillar Inc., the bulldozer manufacturer President Barack Obama used to help push his $787 billion stimulus plan, called the program disappointing and less effective than measures approved by China.
“The infrastructure portion of the stimulus package was disappointing in that it was less aggressive than other countries and missed an opportunity to correct past underinvestment in U.S. infrastructure,” Caterpillar said in economic commentary with today’s first-quarter earnings report.
Chief Executive Officer Jim Owens, 63, is a member of the president’s Economic Recovery Advisory Board. Obama visited the Peoria, Illinois, headquarters on Feb. 12, the final day of his campaign to press for Congressional passage. Caterpillar today reported its first net loss in 16 years as a global credit crunch and recession reduced demand from builders and miners.
“You can measure America’s bottom line by looking at Caterpillar’s bottom line,” Obama said during the February visit. “What’s happening at this company tells us a larger story about what’s happening in the American economy.”
Full-year profit will be about $1.25 a share excluding severance and other costs, or half the company’s January forecast, Caterpillar said. It attributed the lower forecast in part to uncertainty about stimulus plans and said the effect of U.S. measures would be “fairly limited.”
Revenue in 2009 may be about $35 billion, compared with the $38.4 billion average estimate in Bloomberg survey of analysts, the company said today. Caterpillar said the U.S. may disburse as much as $70 billion this year for infrastructure building, about 6.5 percent of last year’s total construction spending.
“We do not expect this increase to offset steep declines in private construction spending,” today’s statement said. Caterpillar is the world’s largest maker of construction equipment.
China Stimulus
Caterpillar said it does expect some benefit this year from China, which enacted a stimulus package and cut its central bank interest rates to match the 2004 low, accelerating money growth, the statement said. The actions will let China’s economy grow at a rate of more than 7.5 percent this year.
“China, with an economy one-third the size of the United States, is allocating over three times as much for infrastructure,” Caterpillar said in today’s analysis. “Initial results from this package look promising.”
Caterpillar predicted the U.S. recession in October 2007 -- two months before it officially began -- and said today it expects the world economy to decline about 1.3 percent this year. Owens came to Caterpillar in 1972 as a corporate economist.
The first-quarter net loss of $112 million, or 19 cents a share, compared with net income of $922 million, or $1.45, a year earlier. Revenue dropped 22 percent to $9.23 billion.
Caterpillar fell $1.16, or 3.8 percent, to $29.32 at 10:39 a.m. in composite trading on the New York Stock Exchange. The shares had fallen 32 percent this year before today.
To contact the reporter on this story: Melita Marie Garza in Chicago at mgarza4@bloomberg.net
Last Updated: April 21, 2009 10:51 EDT
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This is hysterical.
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:)
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:)
Whatever. This story is classic.
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Whatever. This story is classic.
:o
You don't like Burritos?
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I got a great recipe for tex mex tequila chicken if you want it deicide its freaking awsome man
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I got a great recipe for tex mex tequila chicken if you want it deicide its freaking awsome man
Send me the link! :)
And any other Mexican recipes!
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Send me the link! :)
And any other Mexican recipes!
no link its from a bbq/marinade book i have ill pm it to you...not really alot of other mexican recipes i got tons of bbq recipes though.
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no link its from a bbq/marinade book i have ill pm it to you...not really alot of other mexican recipes i got tons of bbq recipes though.
Taco Bell is the Shit for me. Seriously!
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Taco Bell is the Shit for me. Seriously!
Isn't taco bell kind of...fast food? ???
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Isn't taco bell kind of...fast food? ???
Whatever, its cheap and goes down nice.
It comes out horrendous though!
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Whatever, its cheap and goes down nice.
It comes out horrendous though!
...
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...
Its horrible coming out.
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Its horrible coming out.
:-X I got that...
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Caterpillar Says Obama Stimulus Plan ‘Missed an Opportunity’
Share | Email | Print | A A A
By Melita Marie Garza
April 21 (Bloomberg) -- Caterpillar Inc., the bulldozer manufacturer President Barack Obama used to help push his $787 billion stimulus plan, called the program disappointing and less effective than measures approved by China.
“The infrastructure portion of the stimulus package was disappointing in that it was less aggressive than other countries and missed an opportunity to correct past underinvestment in U.S. infrastructure,” Caterpillar said in economic commentary with today’s first-quarter earnings report.
Chief Executive Officer Jim Owens, 63, is a member of the president’s Economic Recovery Advisory Board. Obama visited the Peoria, Illinois, headquarters on Feb. 12, the final day of his campaign to press for Congressional passage. Caterpillar today reported its first net loss in 16 years as a global credit crunch and recession reduced demand from builders and miners.
“You can measure America’s bottom line by looking at Caterpillar’s bottom line,” Obama said during the February visit. “What’s happening at this company tells us a larger story about what’s happening in the American economy.”
Full-year profit will be about $1.25 a share excluding severance and other costs, or half the company’s January forecast, Caterpillar said. It attributed the lower forecast in part to uncertainty about stimulus plans and said the effect of U.S. measures would be “fairly limited.”
Revenue in 2009 may be about $35 billion, compared with the $38.4 billion average estimate in Bloomberg survey of analysts, the company said today. Caterpillar said the U.S. may disburse as much as $70 billion this year for infrastructure building, about 6.5 percent of last year’s total construction spending.
“We do not expect this increase to offset steep declines in private construction spending,” today’s statement said. Caterpillar is the world’s largest maker of construction equipment.
China Stimulus
Caterpillar said it does expect some benefit this year from China, which enacted a stimulus package and cut its central bank interest rates to match the 2004 low, accelerating money growth, the statement said. The actions will let China’s economy grow at a rate of more than 7.5 percent this year.
“China, with an economy one-third the size of the United States, is allocating over three times as much for infrastructure,” Caterpillar said in today’s analysis. “Initial results from this package look promising.”
Caterpillar predicted the U.S. recession in October 2007 -- two months before it officially began -- and said today it expects the world economy to decline about 1.3 percent this year. Owens came to Caterpillar in 1972 as a corporate economist.
The first-quarter net loss of $112 million, or 19 cents a share, compared with net income of $922 million, or $1.45, a year earlier. Revenue dropped 22 percent to $9.23 billion.
Caterpillar fell $1.16, or 3.8 percent, to $29.32 at 10:39 a.m. in composite trading on the New York Stock Exchange. The shares had fallen 32 percent this year before today.
To contact the reporter on this story: Melita Marie Garza in Chicago at mgarza4@bloomberg.net
Last Updated: April 21, 2009 10:51 EDT
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This is hysterical.
Maybe if they could make an engine that didn't disintegrate they'd be OK.
Their engine were supposed to be able to withstand the new ultra low sulfur fuels, but they can't.
As a result, they just stopped making them because word started spreading about how shit their product was.
Injectors failing, all over the place and unable to meet emission standards. Instead of making a better engine,
They want money to manufacture bolt on apps that they can sell to the trucking industry. Make a better engine.
Volvo, Mercedez even Detroit can make an engine that doesn't die, why can't caterpillar?
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Holy cow,
You're an expert on heavy diesel engines too?
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Holy cow,
You're an expert on heavy diesel engines too?
Nope! I can't claim to be an expert there at all, ...but I work very closely with alot of heavy diesel mechanics as well as owners of diesel equipment. I see what's happening from day to day, the issues they face, and my ear is to the ground when it comes to solutions that work, and attempted solutions that do not work, and are nothing more than attempted cash grabs, both from government, as well as private sector manufacturers.
The majority of my clients own heavy diesel engines, so I am somewhat familiar with what's happening in the marketplace and in real world operations.
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Nope! I can't claim to be an expert there at all, ...but I work very closely with alot of heavy diesel mechanics as well as owners of diesel equipment. I see what's happening from day to day, the issues they face, and my ear is to the ground when it comes to solutions that work, and attempted solutions that do not work, and are nothing more than attempted cash grabs, both from government, as well as private sector manufacturers.
The majority of my clients own heavy diesel engines, so I am somewhat familiar with what's happening in the marketplace and in real world operations.
Very well... Carry on then...
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here deicide and anyone else this recipe rocks ass man
ok you need
1 cup of loosely packed cilantro leaves
4-6 jalepenos depends on how hot you may like it
1/2 a small onion cut up
3 cloves of garlic cut up
1/4 a cup of orange juice
1/4 a cup of lime juice
1/4 a cup of extra virgin olive oil
2 table spoons tequila i use jose
1 teaspoon of coarse sea salt you can use regular salt as well ive always used coarse sea salt
1/2 teaspoon sugar
1/2 teaspoon ground black pepper
1/2 teaspoon ground cumin
Put all that in a blender and puree it into a a marinade, make sure you use this fairly soon b/c after about 2 hours or so it kinda starts to go bad like quacamole. Just put your chicken in a bowl or something and pour this on top of it and let it sit for about an hour or two i usually do two. I also put some monteray jack and chedder cheese that has been grated on it after it gets done cooking...Dude im telling you this recipe is money, cook some spanish rice with it and enjoy bro...if there is left over marinade after you pour it on the chicken you can also use it for a dip with chips
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Very well... Carry on then...
These guys need solutions that are cost effective meet target objectives and provide a reasonable ROI TODAY not TOMORROW! My job is to provide them with just that. I have guys that are exceeding year 2015 emissions standards today! ...on 17 yr old motors with over 2.7 million miles. The problem is, ...it's not costing them any money to do it.
That's a BIG problem for engine manufacturers because they need a solution they can charge people money for, ...and thus far, they have either been unable to accomplish that, or accomplish it at a more reasonable rate. A cost effective solution that leaves engine maufacturers out of the profit chain is useless to them, ...kind of like natural plant based unpatentable remedies are useless to a pharmaceutical company.
Their rationale is... "It might work, ...and it might be the best solution, ...but if we can't make money off it, ...we have no use for it." There are some companies in the trucking industry that are like that too. They don't care if they can operate more efficiently if there is grant money available to remain inefficient, ...as long as they get their piece of the pie courtesy of the tax payer. :-\
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Don't you work at a grocery store or something? ::)
Caterpillar's engines disintegrate?
Please post a single shred of evidence that CAT manufactures a substandard product. You can pick from any source you want. I'll wait.
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Don't you work at a grocery store or something? ::)
Caterpillar's engines disintegrate?
Please post a single shred of evidence that CAT manufactures a substandard product. You can pick from any source you want. I'll wait.
They shut down their entire production line of new engines cause they couldn't meet the standards.
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They shut down their entire production line of new engines cause they couldn't meet the standards.
link? I couldnt find anything.
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link? I couldnt find anything.
Sorry, was on a conference call. Don't have a link.
Basically, the word is Caterpillar was having difficulties meeting 2010 emissions standards and found themselves unable to compete with Detroit, Cummings, Kenworth etc, so they shut down their production line of engines.
Caterpillar builds the best construction equipment on earth, so rather than competing with the other engine manufactures on engines, they'll have the truck manufacturers competing with them. In 2012, they will be coming out with their own class 8 truck line. There will still be caterpillar engines except you'll probably only see them under a caterpillar hood.
You can take my word for it, ...or not. (http://www.jaguarenterprises.net/images/em/shrug.gif) Your prerogative,
...or we can wait a few months and see if we see a 2010 engine from Caterpillar I guess. ;) 8)
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Taco Bell is the Shit for me. Seriously!
Dude, you're preaching to the choir. I love their value menu items--so much better than burgers for a quick lunch on the run.
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Don't you work at a grocery store or something? ::)
Caterpillar's engines disintegrate?
Please post a single shred of evidence that CAT manufactures a substandard product. You can pick from any source you want. I'll wait.
No I don't, ...but I did have a part time job as a checkout girl in a grocery store when I was in highschool.
I don't work for anybody. I'm part of a class of people that I categorize as "psychologically unemployable"
I own my own business that spans the globe, with satisfied clients throughout North America, South America, Europe, Africa, Asia, and Australia. My business hasn't yet reached Antarctica (that I know of anyway)
...and I do it all from home in my big, fluffy, comfy, pink bunny slippers. :) and no it's not internet webcam porn
My morning commute is 30 seconds (45 seconds if I stop to open the blinds) 8)
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Taco Bell is the Shit for me. Seriously!
I ate taco bell for lunch... I literally had to take a nap 30 mins later... Iv had a headache since...
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Let's all listen to our forum hustler, carry on, try to push your shit some more.
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I ate taco bell for lunch... I literally had to take a nap 30 mins later... Iv had a headache since...
I guess the chulupas & meximelts did not go down too well????