Friday, February 13, 2009

Caterpillar CEO Contradicts President Obama on stimulus plan

Asked if the stimulus package would be able to stop the 22,000 layoffs or not, [Caterpillar CEO Jim] 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.

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