PRINGFIELD -- The chairman and CEO of Peoria-based Caterpillar Inc. is raising the specter of moving the heavy equipment maker out of Illinois.
In a letter sent March 21 to Gov. Pat Quinn, Caterpillar chief executive officer Doug Oberhelman said officials in at least four other states have approached the company about relocating since Illinois raised its income tax in January.
"I want to stay here. But as the leader of this business, I have to do what's right for Caterpillar when making decisions about where to invest," Oberhelman wrote in the letter obtained Friday by the Lee Enterprises Springfield bureau. "The direction that this state is headed in is not favorable to business and I'd like to work with you to change that".
Do progressives ever learn?
Do you? You are being taken for a ride....
Corporations are getting record profits.....and where is the money going?
not to jobs or better health benefits,,,
To put that in perspective, said Lynn Reaser, the chief economist at Point Loma Nazarene University in San Diego, it's important to note that companies were able to bring production back up to pre-recession levels without hiring any more workers.
"We have now recovered all of the output lost in the recession, but we are still down by 7.5 million workers," she said.
Answer by sweet-a-kins at 10:46 PM on Mar. 25, 2011
COs are beholden to their shareholders...... The worker will never win- we are being held hostage. Hitting them in their pocketbook is the only answer. Glad I do not need a Caterpillar product.
Jobless people do not buy big ticket items...wonder when THAT concept will register? There has to be a balance-
Answer by Sisteract at 10:51 PM on Mar. 25, 2011
Only in your progressive world where all income belongs to the government, sweet.
That's a dumba$$ insult...and not at all true....too bad you start every convo like that
Answer by yourspecialkid at 11:18 PM on Mar. 25, 2011
Answer by yourspecialkid at 11:19 PM on Mar. 25, 2011
Answer by lovinangels at 11:23 PM on Mar. 25, 2011
Answer by agentwanda at 11:25 PM on Mar. 25, 2011
Next question overall
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