Obama “makes an example” of Caterpillar again in London
US President Obama has again used heavy equipment manufacturer Caterpillar as a case in point at a press conference in London, where he is attending the G20 Summit to discuss the economic crisis. He points to Caterpillar as an example of a company that relied heavily on exports to keep its head above water in the early stages of the recession in the US, but which is now very much feeling the effects of the global recession as exports tumble.
This follows on from the news in January 2009 that Caterpillar would be forced to lay off 22,000 workers.
No doubt the market in used Caterpillar heavy equipment will be see renewed interest – see, for example our used Caterpillar dozer listings, as well as a general listing of various used Caterpillar heavy equipment. At least till the recession blows over…
This entry was posted on Thursday, April 2nd, 2009 at 11:18 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.