Business

Caterpillar To Rehire Some If Stimulus Passes

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You want private sector job growth as a result of the new bill?

This is an encouraging start:

WASHINGTON (AP) – President Barack Obama says Caterpillar’s chief executive has told him the company will rehire some laid-off workers if the stimulus bill passes.

The heavy equipment maker announced more than 22,000 job cuts last month as it scales back production amid the economic slowdown.

During a visit to a transportation construction site just outside Washington in Springfield, Va., on Wednesday, Obama urged Congress to pass the bill. […]

Obama is to speak with some of those workers on Thursday when he visits a Caterpillar manufacturing plant in Peoria, Ill.

More as it develops…

  • http://belowthebeltway.com/ Doug Mataconis

    Umm, not so much:

    EAST PEORIA, ILL. — President Obama today repeated the claim we asked about yesterday at the press briefing that Jim Owens, the CEO of Caterpillar, Inc., “said that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off.”

    Caterpillar announced 22,000 layoffs last month.

    But after the president left the event, Owens said the exact opposite.

    Asked if the stimulus package would be able to stop the 22,000 layoffs or not, Owens said, “I think realistically no. The truth is we’re going to have more layoffs before we start hiring again”

    “It is going to take some time before that stimulus bill” means re-hiring, he said.

    http://tinyurl.com/akzg5f