Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Caterpillar Inc said on Monday that quarterly earnings fell more than 32 percent and warned of a tough year ahead as the downturn that began in the United States metastasized into a full-blown global recession that hit sales of its earth-moving equipment
Caterpillar to slash 20,000 jobs as profit falls - Yahoo! News (http://news.yahoo.com/s/nm/20090126/bs_nm/us_caterpillar - broken link)
Cat was selling a lot of equipment to China, and that came to a big screaming halt after the Olympics. The developing nations have pretty much cut back as well.
I bet all heavy equipment manufacturers are gonna be in the same boat.
Capitalism is a failing system? I don't hear that everyday.
Where do you see capitalism???
The credit system is failing,it is the cause and all that everyone seems to want to do is keep it going....
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
