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They won't leave. They have nowhere to go. Caterpillar is a highly technical company. If they move to another state, the other state won't have a workforce capable of performing their manufacturing, research, and design. Unless of course they go to another high tax state (CA, NY, NJ).
I doubt that people in Arkansas or Mississippi have the educational and technical background to work there.
How ignorant......
From advanced nanotechnology and unmanned aircraft, to commercial-type ranges and composite jet engines, all the way to Nissan and Toyota automobiles, Mississippi is home to almost every kind of industry.
Companies like GE Aviation, Stark Aerospace, Lockheed Martin, Raytheon, Eaton Aerospace, American Eurocopter and other industry leaders have operations in Mississippi. Even Rolls Royce built its first engine test facility outside of the United Kingdom in Mississippi. This concentration in aerospace and aviation companies has made Mississippi’s Gulf Coast region home to one of the highest concentrations of avionics and aircraft maintenance personnel in the nation among mid-size metropolitan markets. The Gulf Coast is also home to NASA’s Stennis Space Center.
Companies with advanced manufacturing operations in Mississippi include the following: GE (jet engines), Eurocopter (helicopters), Toyota and Nissan (automobiles), Huntington-Ingalls (ships), Viking Range (high-end kitchen appliances), Schulz (high-end steel pipes) and many others.
What's worse is that they demoted a whistleblowing employee who exposed their tax dodging scheme.
That is bad.
Quote:
Originally Posted by Savoir Faire
The question is, why would they complain about higher taxes when they don't pay many of them in the first place????
Why does Warren Buffet and his company dodge taxes, owe a Billion Dollars in back taxes, spend money lobbying for tax breaks including tax breaks for private jets that Obama signs off on -- and then claims that he wants to pay more in taxes, even though he has this option and doesn't choose to pay more in taxes all while the brainless obamabots cheer his hypocrisy on?
Quote:
Originally Posted by Savoir Faire
"Daniel Schlicksup, who was a global tax strategy manager for the company from 2005 to 2008, alleges that the company wrongly attributed at least $5.6 billion in profits from sales through an Illinois-based warehouse to its unit in Switzerland in order to lessen its tax burden and increase earnings.
He claims Caterpillar reassigned him to another job after he complained about the practice."
No more diversion from me. The tax rates are high in Illinois, but they should pay them or relocate down south. This is bad and they should pay the back taxes owed even if they do move.
John Deer has moved manufacturing to Iowa, as there is a more educated workforce, better tax environment, and a better legal environment.
An obvious move would be to Indiana, which already has CAT production that was moved from Illinois.
Having lived near Peoria, I can say that Iowa, Wisconsin, and Indiana would have a more educated workforce, lower taxes, and less political interference than in Illinois. Also, the work comp laws are not as punishing as Illinois.
Gun manufacturers in Illinois have essentially all moved to Iowa. Deer has moved a lot of production to Iowa from Illinois. A high tax, pro-lawyer, high regulation state will tend to drive business out that state (see Illinois, New York, Michigan, and CA).
Citizens and manufacturing firms are leaving the high tax, liberal states. Despite the heartfelt wishes of liberals, no company or citizen wants to pay more in taxes to support others who wish to live off of their labor.
From advanced nanotechnology and unmanned aircraft, to commercial-type ranges and composite jet engines, all the way to Nissan and Toyota automobiles, Mississippi is home to almost every kind of industry.
History is 20/20 with his 4 year old 2010 post. A division of CAT is moving to DFW. I've helped about 5 find homes so far this last year.
Many real estate investors are investing like crazy in NW Indiana as a national real estate magazine pointed out recently; you can get a very nice house for well under $200K in a top-notch neighborhood, and since Merrillville and Valparaiso are both essentially bedroom communities of Chicago, a train ride into Chicago takes under an hour.
Evicting someone from a house or apartment in Indiana is substantially easier and a heck of a lot quicker as well.
Many real estate investors are investing like crazy in NW Indiana as a national real estate magazine pointed out recently; you can get a very nice house for well under $200K in a top-notch neighborhood, and since Merrillville and Valparaiso are both essentially bedroom communities of Chicago, a train ride into Chicago takes under an hour.
Evicting someone from a house or apartment in Indiana is substantially easier and a heck of a lot quicker as well.
I don't think there are any trains that go from Merrlliville/Valparaiso to Chicago
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