Obama Is Worst Jobs President Since Great Depression

hermit · Aug 6, 2010

Quote from Hello:

I Tried tried to let him down gently, with my half assed description of how business works........LOL...... I always make the assumption that the people i am debating have a basic knowledge of business but i guess it isnt always the case, and apparently liberals lack more general knowledge than anyone else.....
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How come UHC works in every other industrialized economies who spend far less as a % of GDP than the US.

Ricter · Aug 6, 2010

Future corporate taxation rates have nearly zero weight in my business plans. I look at projected sales. Call me old-fashioned. Besides, it is all too easy to cut FTEs anyway, as we have seen.

Obama has not caused this mess, if anything he's put a bottom under it (along with all the other stimulus spenders around the world). Probably not enough of a bottom it now appears. His export initiative is a powerful idea and holds hope for the US. High value added is still what we do best.

Trader666 · Aug 6, 2010

It doesn't work unless you like long waits and rationing.

Speaking of Obamacare, tell us how giving a new entitlement to 10s of millions of people will bring healthcare costs down and increase efficiency.

Quote from hermit:

How come UHC works in every other industrialized economies who spend far less as a % of GDP than the US.
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Range Rover · Aug 6, 2010

Quote from Hello:

Caterpillar, Inc. says Obamacare would cost them $100 million in first year
By: J.P. Freire
Associate Commentary Editor
03/19/10 11:39 AM EDT

FILE - In this April 16, 2008 file photo, Caterpillar heavy machinery for sale is lined up at Milton Cat in Richmond, Vt..(AP Photo/Toby Talbot, file)
Obamacare will take a huge chunk out of the American economy, so says Caterpillar, Inc., which said in a letter to House leadership that the bill under consideration would increase the company's health care costs by more than $100 million in the first year alone:

In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan "because of the substantial cost burdens it would place on our shareholders, employees and retirees."

Caterpillar, the world's largest construction machinery manufacturer by sales, said it's particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.

One of the biggest arguments for Obamacare is that businesses are weighed down by current costs -- the bill is said to allow these businesses to invest their money more efficiently. Apparently that's not the case here.

The Peoria-based company is one of many hard-hit employers in Illinois, which has an unemployment rate of 12.2 percent. It's delusional to think that adding $100 million to their operating costs won't make it more difficult to hire. In fact, this is exactly what 130 economists said in their letter to President Obama yesterday saying that the bill was unquestionably a job killer.

This isn't the first time Caterpillar has had to force Obama to face the facts. At an event held with CEO Jim Owens in February 2009, Obama claimed that the stimulus would allow Caterpillar "to rehire some of the folks who were just laid off." (The company had just laid off 22,000 people.) Once the president left the event, however, Owens was asked if the stimulus package would be able to stop the 22,000 layoffs. His reply: "I think realistically no. The truth is we're going to have more layoffs before we start hiring again."

http://www.washingtonexaminer.com/o...-them-100-million-in-first-year-88562012.html
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Currently going over charts and I am on CAT

In Nov of 08 CAT was around 36.After 19 months of Obama today CAT is at 71

Range Rover · Aug 6, 2010

Quote from Hello:

Caterpillar, Inc. says Obamacare would cost them $100 million in first year
By: J.P. Freire
Associate Commentary Editor
03/19/10 11:39 AM EDT

FILE - In this April 16, 2008 file photo, Caterpillar heavy machinery for sale is lined up at Milton Cat in Richmond, Vt..(AP Photo/Toby Talbot, file)
Obamacare will take a huge chunk out of the American economy, so says Caterpillar, Inc., which said in a letter to House leadership that the bill under consideration would increase the company's health care costs by more than $100 million in the first year alone:

In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan "because of the substantial cost burdens it would place on our shareholders, employees and retirees."

Caterpillar, the world's largest construction machinery manufacturer by sales, said it's particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.

One of the biggest arguments for Obamacare is that businesses are weighed down by current costs -- the bill is said to allow these businesses to invest their money more efficiently. Apparently that's not the case here.

The Peoria-based company is one of many hard-hit employers in Illinois, which has an unemployment rate of 12.2 percent. It's delusional to think that adding $100 million to their operating costs won't make it more difficult to hire. In fact, this is exactly what 130 economists said in their letter to President Obama yesterday saying that the bill was unquestionably a job killer.

This isn't the first time Caterpillar has had to force Obama to face the facts. At an event held with CEO Jim Owens in February 2009, Obama claimed that the stimulus would allow Caterpillar "to rehire some of the folks who were just laid off." (The company had just laid off 22,000 people.) Once the president left the event, however, Owens was asked if the stimulus package would be able to stop the 22,000 layoffs. His reply: "I think realistically no. The truth is we're going to have more layoffs before we start hiring again."

http://www.washingtonexaminer.com/o...-them-100-million-in-first-year-88562012.html
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http://finance.yahoo.com/news/Building-on-Customer-Value-prnews-4230320309.html?x=0&.v=1

Building on Customer Value: Caterpillar Announces Expansion of Its North Carolina Compact Construction Facility

Additional Space Provides Increased Logistics and Fabrications Capacity to Meet Global Demand

Press Release Source: Caterpillar Inc. On Thursday August 5, 2010, 3:30 pm EDT

PEORIA, Ill., Aug. 5 /PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE:CAT - News) is announcing the expansion of its Compact Construction Equipment operations located in Sanford, North Carolina. The development will provide the increased logistics and fabrications capacity required to meet growing global demand for the skid steer, compact track and multi-terrain loaders produced in Sanford today.

The expansion plans include a 270,000-square-foot building addition that will house logistics and the latest robotic welding technology for fabrication production.

"The Sanford campus project provides Caterpillar with several key benefits that support our quest to constantly improve value for our customers," said Mary Bell, Vice President of Caterpillar's Building Construction Products Division. "We appreciate the support we received from our local partners and from the State of North Carolina for our growth strategy."

The expansion of compact construction equipment production capacity is part of Caterpillar's long-term strategy to deliver the highest quality, best value building construction machines in the industry.

Construction is expected to begin in early September 2010, with operations commencing in July 2011. When the expansion is complete and fully operational, it is anticipated that Caterpillar will add roughly 325 additional workers over a five-year period bringing the total workforce to approximately 750.

"For the second time in less than a week, Caterpillar is making a major investment in North Carolina and strengthening its ties as a corporate citizen of our state," said Governor Bev Perdue. "By expanding its stake in North Carolina, Caterpillar has demonstrated that our own investments in education, worker training, transportation and infrastructure have paid off. We have created the kind of business climate and workforce that is attracting new companies and encouraging the ones that are here to grow."

Caterpillar currently employs roughly 1,000 full-time workers in North Carolina in locations throughout the state including Cary, Charlotte, Clayton, Franklin, Goldsboro, Morganton, New Bern and Smithfield. The company recently announced the construction of a lower powertrain components facility in Winston-Salem that is expected to be operational in 2012 and will employ roughly 400 workers.

Range Rover · Aug 6, 2010

Quote from Hello:

Caterpillar, Inc. says Obamacare would cost them $100 million in first year
By: J.P. Freire
Associate Commentary Editor
03/19/10 11:39 AM EDT

FILE - In this April 16, 2008 file photo, Caterpillar heavy machinery for sale is lined up at Milton Cat in Richmond, Vt..(AP Photo/Toby Talbot, file)
Obamacare will take a huge chunk out of the American economy, so says Caterpillar, Inc., which said in a letter to House leadership that the bill under consideration would increase the company's health care costs by more than $100 million in the first year alone:

In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan "because of the substantial cost burdens it would place on our shareholders, employees and retirees."

Caterpillar, the world's largest construction machinery manufacturer by sales, said it's particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.

One of the biggest arguments for Obamacare is that businesses are weighed down by current costs -- the bill is said to allow these businesses to invest their money more efficiently. Apparently that's not the case here.

The Peoria-based company is one of many hard-hit employers in Illinois, which has an unemployment rate of 12.2 percent. It's delusional to think that adding $100 million to their operating costs won't make it more difficult to hire. In fact, this is exactly what 130 economists said in their letter to President Obama yesterday saying that the bill was unquestionably a job killer.

This isn't the first time Caterpillar has had to force Obama to face the facts. At an event held with CEO Jim Owens in February 2009, Obama claimed that the stimulus would allow Caterpillar "to rehire some of the folks who were just laid off." (The company had just laid off 22,000 people.) Once the president left the event, however, Owens was asked if the stimulus package would be able to stop the 22,000 layoffs. His reply: "I think realistically no. The truth is we're going to have more layoffs before we start hiring again."

http://www.washingtonexaminer.com/o...-them-100-million-in-first-year-88562012.html
More...

Caterpillar Earnings
Posted: Jul 28, 2010 09:33 AM by Ryan Barnes

Scores of investors look to Caterpillar (NYSE:CAT) as a bellwether, and the company deserves its place under the economic microscope. Not only does the firm have a sizable market position in six continents, but the end markets they serve are generally considered the tip of the sword of economic cycles. Construction, infrastructure projects, mining and materials extraction - they all need big machines to complete the task, and big machines are Cat's bread and butter.

The Peoria, Ill. maker of industrial engines and machinery reported a blowout second quarter, with revenue of $10.4 billion (versus estimates for $9.8 billion) that was up 31% year-over-year. EPS, meanwhile, rose 90% to come in at $707 million, or $1.09 per share; analysts were looking for just 85 cents.

Range Rover · Aug 6, 2010

Quote from Hello:

I Tried tried to let him down gently, with my half assed description of how business works........LOL...... I always make the assumption that the people i am debating have a basic knowledge of business but i guess it isnt always the case, and apparently liberals lack more general knowledge than anyone else.....
More...

If Obama is such a business killer why are companies like CAT expanding,beating analysts expectations and stock prices doubling under Barack"the business killer "Obama ?

trendlover · Aug 6, 2010

http://www.msnbc.msn.com/id/35352461/ns/business-businessweekcom/

bugscoe · Aug 7, 2010

The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.

Nonfarm payrolls fell by 131,000 last month as the rise in private-sector employment was not enough to make up for the government jobs lost, the U.S. Labor Department said Friday. Only 71,000 private-sector jobs were added last month while 143,000 temporary workers on the 2010 census were let go.

Economists polled by Dow Jones Newswires were expecting total nonfarm payrolls to drop by a smaller 60,000 in July.

The June data was revised down significantly. Payrolls fell 221,000 that month, more than the 125,000 drop previously reported, as only 31,000 jobs were added in the private sector.
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Honey, don't worry about the net balance of our checking account. The ture measure of my manness can be gauged by the amount of money I'm no longer losing!

TraderTactics · Aug 7, 2010

This figure might be correct but I wouldn't blame it all to Pres.Obama. I believe this figure came into being due to a series of events and bad decision making where the effect has accumulated.

Pres. Obama just inherited them all. He might also have contributed a little but let's not blame it all on him.

An economic cancer doesn't start in an instant but starts as a bad cell which multiplies and leads to cancer.