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well, if the New York Times says so, it must be true
The immediate issue for the Yellow God now is the wave of lawsuits from shareholders
ewlsey, what's going one down there in Peoria going to hurt you?
Tom
Cat used to be a great company. Back in the 70's and early 80's we did structural dynamics engineering for them (D10, engines, etc.) -- and it was strong-valued engineering types in charge -- aimed at making better products not cooking the books. Anyone know what went wrong?
Cat sales continue to slide.
Caterpillar Posts Record 49 Consecutive Months Of Declining Retail Sales | Zero Hedge
StreetInsider.com
Cat is there own worst enemy market wise.
The mining, construction and agriculture equipment builders are all in the same boat. Each round of the new equipment designs results in substantially increased productivity with increased development costs.
In essence they are caught in the same race to the bottom that manufacturing in general has been caught in.
They also have the problem other mature companies do. Back in the 1950s to say 1980, there was basically no foreign competition. Cat was the cock of the walk. The imported machine were disposable crap that no serious buyer would consider.
Today, machines from Komatsu, Hitachi, Samsung, Sany, Liebherr, etc have caught up in terms of quality and capability, but they are not dragging along all the baggage Cat has with pension costs and top heavy management and a roster of really old and inefficient facilities.
old and inefficient?
what about the almost 30 factories they have in China, most of which are around ten years old?
Caterpillar | China
or their 36 factories in Europe and Eastern Europe?
Cat has been diversifiying overseas for decades- the US, granted, is a pretty mature market- but the rest of the world just keeps cranking out babies.
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