Management incompetence causes half billion Caterpillar loss while workers get screwed

That's quite a brilliant management team they've got in place over there at the Caterpillar company.

These are the shitbags who shut down 450 jobs in London Ontario last year and moved them to Indiana. Net saving to the already hugely profitable Caterpillar empire? About ten million dollars a year.

Wow! Ten millions added on the bottom line when you're already clearing 4 billions in profit! That's got to make the management team feel proud!

All they had to do for that is destroy the livelihood of 450 workers in London.

And who can blame them?

By destroying the lives of 450 families in London they added about .025% to the bottom line!

Fuck social responsibility and fuck the workers!

Bring on the management bonuses!

Today the news comes out that the same genius management team forgot to do their due diligence before they bought a Chinese machinery builder a couple of years ago.

As a result, they are announcing a half billion dollar write-down on the purchase of Chinese company ERA Mining Machinery.

How many workers will have to get fucked over to make good on that?

That's the equivalent of moving fifty good-wage London plants to half-cost "right to work" states.

Think any of those six and seven and eight number management shitbags will lose their jobs over this?

Not likely.