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Imagine that!

Imagine that!

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by: Whit Active Indicator LED Icon 7 OP 
~ 7 years ago   Oct 18, '16 9:23pm  
Imagine that!
 
From the PJS of 10-18-2016:
Caterpillar spokeswoman Rachel Potts is quoted as saying;
"As for the headquarters plans, we are experiencing an unprecedented business downturn. As everyone knows, in response to these conditions, we have reduced our work force, closed facilities and made other difficult, but necessary decisions to keep the company strong. In light of these challenges, which still exist, Doug (Oberhelman) has said that we will not take any further steps on that project. That's still the case."
So, you can say goodbye to this, which was announced with great fanfare in February of 2015:
www.youtube.com/watc h?v=JV3FfmAnNnI
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joepyeweed Active Indicator LED Icon 15
~ 7 years ago   Oct 19, '16 10:34am  
I don't think they expected the mining downturn to last this long.
 
I would expect them to revisit this, when their sales start turning around again.
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Ptownliferalmost Active Indicator LED Icon 1
~ 7 years ago   Oct 19, '16 11:27am  
Rumor is that three global headquarters will be established. None in Illinois. Scope and scale of "project" will be scaled back significantly. State Farm exodus also rumbling. Not a very bright outlook.
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billybob Active Indicator LED Icon 12
~ 7 years ago   Oct 19, '16 11:59am  
Rumor is that three global headquarters will be established

@Ptownliferalmost :
 
Totally agree except there are about 5 places that have been mentioned and, as you said, none in Illinois. Do you have any guesses where the 3 places will be?
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Ptownliferalmost Active Indicator LED Icon 1
~ 7 years ago   Oct 19, '16 12:36pm  
@billybob
Texas China and India.
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ricardo Active Indicator LED Icon 5
~ 7 years ago   Oct 19, '16 1:21pm  
If they do move, I predict that it will be announced after an election when the democrats win. They will blame it on politics and will try to downplay the bad deals they have made in the last ten years.
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Astonished Active Indicator LED Icon  New Member
~ 7 years ago   Oct 19, '16 2:14pm  
The main deterrent for CAT remaining in Illinois is Mike Madigan & the Chicago Dem Machine. These powerful career politicians have given Illinois the worst credit rating in the nation.
 
Below is from the WSJ:
 
Illinois collects more than $3,000 per capita in state and local taxes each year, one of the highest per capita tax revenues. Yet, the state’s fiscal management system does not appear to be operating optimally, which is the main reason it ranks as the second worst-run state. For example, Illinois has one of the smallest rainy day funds compared to other states, at 1% of its general annual budget — an indication the state may not be able to satisfy its short-term obligations. Illinois’ debt is equal to more than three-fourths of its annual revenue, also one of the highest shares in the nation. Similarly, the state’s pension fund is not financially healthy. The state only has assets on hand to meet 39% of its pension obligations, the lowest ratio of any state. Perhaps as a result of the state’s finances, Illinois has the worst credit rating and outlook from S&P and Moody’s of any state.
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ricardo Active Indicator LED Icon 5
~ 7 years ago   Oct 19, '16 2:36pm  
@Astonished We didn't get here with the help of just one party. We had a republican governor from 1977 until 2003 (26 years). Google the Edgar Ramp.
 
www.illinoispolicy.o rg/the-edgar-ramp-th e-reform-that-unleas hed-illinois-pe
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joepyeweed Active Indicator LED Icon 15
~ 7 years ago   Oct 20, '16 11:18am  
Rumor had it that the tax breaks that Caterpillar already receives from the state of Illinois was greater than anything that Texas had offered them.
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