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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.
Corporations move their key people from location to location all the time. There are any number of states they could go to and some would be a better fit with their business model. As far as technical personnel, don't kid yourself. Most states have skilled technicians that would love to work for a major corporation and would be just as proficient as someone living in Illinois. Indiana already has a major Catepillar facility. How much trouble would it be to move across the line? Not much.
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.
So...if there were any truth to that, why did virtually all the foreign automakers locate in states out of the "rust belt"? In the last decade or so several have set up shop in Alabama and Mississippi. EADS opened a helicopter manufacturing plant in Columbus, MS. Virtually NO manufacturing operations have moved to the "Rust Belt" states, instead they are leaving in droves. I grew up around Buffalo...it's becoming a ghost town from a manufacturing standpoint, with mile after mile of closed plants and warehouses. While in Tuscaloosa, Alabama you see new industrial plants sprouting like weeds.
Lets face it, get a few good managers and engineers together, they can train the welders and burn table operators and make Cat products anywhere.
Caterpillar Announces Completion of $7.5 Billion Repurchase Authorization with $1.7 Billion Accelerated Stock Repurchase Transaction - NASDAQ.com
quote:
PEORIA, Ill., Jan. 30, 2014 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) today announced it has entered into a definitive agreement with Citibank, N.A. to purchase approximately $1.7 billion of its common stock under an accelerated stock repurchase transaction. This repurchase is in addition to the $2 billion of stock repurchased in 2013.
"The strength of our balance sheet and record 2013 operating cash flow enable us to announce the completion of our current $7.5 billion stock repurchase authorization," said Caterpillar Chairman and CEO Doug Oberhelman. "This repurchase, combined with the new $10 billion stock repurchase program announced on January 27, affirms our commitment to deliver superior returns to stockholders through the cycles."
Freightshaker nailed it; spot-on analysis as always.
Look at it this way; Chicago's population gains between 2000-10 according to the US Census Bureau evaporated to the point where their current population is currently at a level last seen in 1920!!!!
If individuals can leave any given city for better economic and/or quality-of-life standards elsewhere, rest assured that corporations such as Caterpillar and tons of others either move in their entirety or hollow out their company and move those key employees and/or critical operations to other states.
Madison WI & Rochester, MN have been perennial occupants of top-ten slots in Money Magazine's annual 'best places to live' issue for over a decade as opposed to a woebegone liberal hellhole such as Chicago.
Quinn's expectations for surges in tax revenue are going to meet reality sooner rather than later, since raising tax rates NEVER results in increases in tax revenue; check his state's credit ratings with Fitch or Moodys for the honest truth.
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.
Right-
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.
They are not tax cheats, that just stupid. If I move from California to Florida because California has insane taxes and Florida has no state income tax then its not being a tax cheat its doing what is best for me. Cat has to do what is best for its share holders or people do not buy stock. If you don't understand that you don't understand the very basic of how company's work, and there by make your opinion worthless and very ill informed.
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.
BMW had no problem opening a plant in the south. There are plenty of fine universities in the south and the people who live there would love to not have to relocate for work.
What's worse is that they demoted a whistleblowing employee who exposed their tax dodging scheme.
The question is, why would they complain about higher taxes when they don't pay many of them in the first place????
"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."
Shame I can never seem to get you to be upset about Denise or Marc Rich....wrong political party I guess.
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