In case you missed the news from last week’s foulup about Caterpillar and the economic recovery plan, you can see and hear the remarks yourself.
President Obama, visiting Caterpillar in Peoria, Ill., claimed Cat CEO Jim Owens said “that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off.”
Whether the president was just overeager or there was some miscommunication, Owens later set the record straight about the company’s recently announced 22,000 layoffs and the foreseeable future. “The truth is we’re going to have more layoffs before we start hiring again,” Owens said.
— Max Heine