Posted 11 years ago on Sept. 1, 2012, 11:26 a.m. EST by TitusMoans
from Boulder City, NV
This content is user submitted and not an official statement
"Caterpillar capitalism." The company wins; the workers get screwed... once again.
Back when Caterpillar faced a terrible market and heavy losses, company workers gave in; surrendered benefits and pay raises. Now when Caterpillar is logging record profits, the workers are doing the same at the Joliet, Illinois, plant and at others as well.
"...the strike-weary workers relented to the company's demands: wage and pension freeze, double the health care costs, replacing current pension plan with 401-K and seniority rights curbed..." while the company raked in an astonishing $5 billion profit. http://peoplesworld.org/caterpillar-capitalism-triumphs/
Let's hear it again about how the wealthy few want to give back and create more and better jobs. As Ross Perot said decades ago, soon we'll have a nation of people all working at Taco Bell, if anyone is left that can afford to eat there.