REWahoo
Give me a museum and I'll fill it. (Picasso) Give
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
"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
