Chicago Sun Times:
Caterpillar Inc. is moving its headquarters to the Chicago area and won’t build a new complex in downstate Peoria, where it has been headquartered for decades.
The move comes as the company faces a weak equipment market that has been cutting into its bottom line. Last week, the farming and construction equipment maker reported a wider fourth-quarter loss on charges and higher restructuring costs. It has been cutting jobs and facilities over the last several years.
“As a result of continuing challenging market conditions and the need to prioritize resources to focus on growth, Caterpillar will not build the previously announced headquarters complex in Peoria,” the company said.
Do they make armored caterpillar models
for their executives to get to work in? I
don’t think so…….
Rent must be REALLY cheap.
Go over the border to NW IN where the taxes aren’t so high and you won’t be used as target practice.
um, why do they have to move at all? Seems to me that they would be wise to stay put and save money. This is just like the damn move of ConAgra to Chicago from Omaha. CEO likes Chicago and didn’t want to be with the rubes so he ginned up some lame ass excuse on how Chicago has a millennial work force that they need for forward thinking…fuck Chicago…
Caterpillar’s betting Chicago will go the way of Detroit and it’s bulldozers will be in demand to raze the urban decay.
A lot of people and companies are moving OUT of Chicago due to the high taxes. They must have negotiated a good tax abated/deferred agreement.
who are they going to hire? a bunch of didn du nothings that will do nothing but complain they need longer breaks etc…….
good time to buy bullet proof vest stocks.
when you don’t want to compete, snuggle up to the teat
CAT is a super monopoly that should never have been allowed to swallow up up so many companies.
General Motors and ATT were shrimps compared to what Cat has become. They need to divest and bring back competition. There are too many companies that dominate giving them too much power and control like google and apple.
Full disclosure; I used to work for a Cat dealer. Great company and products but too big for it’s pants.
Did ya used to work for Jere?
O’Hare is a great airport to fly from. Either that or Atlanta or Charlotte.
It makes no sense to put your head quarters in a one horse town.