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Caterpillar Will Rehire If Stimulus Passes

Caterpillar Will Rehire If Stimulus Passes

SPRINGFIELD, Va. — President Barack Obama, campaigning to cast his economic plan in terms of real jobs and families, said Wednesday that machinery giant Caterpillar Inc. plans to rehire some of its laid-off workers if Congress approves a sweeping stimulus bill.

The president sought to offer a clear example of how the legislation would help as House and Senate negotiators reached for a final deal with the White House, trimming the emerging legislation down to below $800 billion. That’s still an enormous package, targeted at an economy that continues to bleed jobs.

Obama’s mention of Caterpillar also came just one day before he was heading to Peoria, Ill., to visit the company’s workers and keep pushing his plan. The heavy-equipment maker has announced more than 20,000 job cuts, as shrinking credit and construction demands hurt orders for tractors and other machines.

Said Obama: “Today, the chairman and CEO of Caterpillar said that if the American Recovery and Reinvestment Plan passes, his company would be able to rehire some of those employees.” He did not specify to whom the company chairman and CEO, Jim Owens, made such a pledge.

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02/11/2009 Posted by | Economy, jobs, layoffs | , , | Leave a comment