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Remember in my last post, how I said Caterpillar had purchased the naming rights for $1 million? Well… Under the “Purchase” section of the Naming Rights Agreement, one of the conditions that must be met for the deal to go through is this: “Pere Marquette Hotel Associates, L.P., a Kansas limited partnership shall have [...] One of the most prominent pieces of the hotel redevelopment will carry a corporate sponsor’s name: the Caterpillar Sky Walk. Part of the downtown hotel project is the construction of a pedestrian bridge over Fulton connecting the renovated Pere Marquette and new Courtyard Marriott to the Peoria Civic Center. Caterpillar, Inc., purchased the naming [...] This was some of the best news all year for Peoria: Members of the United Auto Workers on Sunday ratified a new six-year contract with Caterpillar Inc…. By a margin of 72 percent to 28 percent, members at all seven UAW locals that represent Caterpillar workers voted to ratify the agreement, union officials said…. [...] Doug Oberhelman, Chairman and CEO of Caterpillar, met with Chinese President Hu Jintao on Thursday in Chicago: In an interview with the Journal Star just before a luncheon in Washington, D.C., featuring Chinese President Hu Jintao, [...] Oberhelman didn’t argue that the concerns about human rights issues in China are valid. [...] Hu, Oberhelman [...] In a previous post, we looked at potential pitfalls in efforts to access China’s markets. Specifically, it appears that access comes with a high cost: supplying Chinese competitors with proprietary technology. Another example of this was recently exposed in the Wall Street Journal: When the Japanese and European companies that pioneered high-speed rail agreed [...] Caterpillar announced Sunday that Cat China and AVIC Liyuan Hydraulics Co. “have signed a joint-venture agreement to establish a company to design and manufacture medium- and heavy-duty hydraulic pumps and motors for the construction equipment industry.” The press release was picked up and reprinted in the Journal Star Monday on the web — it [...] Peoria County Board Member Merle Widmer is reporting that Caterpillar sent a threatening letter regarding the proposed Peoria Riverfront Museum (PRM) to all County Board members demanding “a positive response from the Peoria County Board by February 12, 2010.” The letter, signed by CEO Jim Owens and CEO-elect Douglas R. Oberhelman, went on to [...] Caterpillar, Inc., sent the following letter to all City Council members on August 20, 2009: To the City of Peoria, While Caterpillar has long supported downtown revitalization efforts, the latest feasibility study for reworking the Washington Street (U. S. Route 24) corridor causes significant concern for pedestrian safety. Caterpillar believes the U. S. Route [...] You may recall that the sales tax increase for the proposed Peoria Riverfront Museum only closed the public funding goal, and that the museum group was still $11 million short on the private funding side. Whenever they were asked about this at town hall meetings before the vote, the answer was always that the [...] New York Times columnist Randy Cohen thinks so. Although the law limits the duties employers have to employees, ethics sets a different standard. Caterpillar’s workers have existed for years — sometimes generations — in profound dependence on the company. (No work, no food.) In accepting and profiting from this relationship, Caterpillar (i.e., its stockholders) [...] |
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