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Cat management bites the bullet
Old 12-22-2008, 08:58 PM   #1
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Cat management bites the bullet

Compare this to all the news stories you've been seeing about huge bonuses and big perks for some of the firms getting big bailouts:

"Caterpillar Inc. announced Monday more cost-cutting to cope with the continued deterioration of the global economy.

The cuts are aimed squarely at management. Some of the Blue Chip heavy equipment maker's top executives could see their salaries slashed by half next year. Senior managers face cuts of up to 35%.

In a sad and tortured way, this is refreshing. It's not that Caterpillar has tumbled into this recession without laying off blue collar workers. It has, including 800 jobs cut just last week at an Illinois plant.

But after hearing so many tales of obscene executive pay packages and bonus schemes in the financial sector -- even as the Treasury was throwing billions of taxpayer dollars their direction -- Caterpillar's announcement seems decent. It spreads the pain and reaffirms the notion that management is and should be accountable for a company's financial condition."

Seems a shame when the simple act of doing the right thing is noted as being exceptional behavior...

Caterpillar steps up in the downturn - MarketWatch

Numbers is hard.

Retired in 2005 at age 58, no pension

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Old 12-22-2008, 09:06 PM   #2
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Originally Posted by REWahoo View Post
Seems a shame when the simple act of doing the right thing is noted as being exceptional behavior...
An alarming number of people seem to have skipped missed that day of kindergarten...

Have Funds, Will Retire

...not doing anything of true substance...
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Old 12-22-2008, 10:49 PM   #3
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Another case of deceptive title and thread author. I opened it expecting to learn how to herd cats in Texas. Where is the visual?
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Old 12-23-2008, 07:10 AM   #4
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Me, too! Where are the cats, darn it!
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Old 12-23-2008, 07:17 AM   #5
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Kudos to Caterpillar!
A former colleague once told me the best way to herd cats was to put a big can of tuna fish in the middle of the room. They will assuredly all move in the same direction.
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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Old 12-23-2008, 07:54 AM   #6
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