Caterpillar

Caterpillar is reporting a 46 percent jump in profits, during its second quarter of 2017.

Carolyn Kaster / AP Photo

Big Yellow is at the White House. 

Tanya Koonce

Goodwill Industries hosted a job fair this morning morning. The event offered those attending 37 different employers, some of them interviewing and hiring on the spot.

Charles & Hudson / Flickr

Caterpillar’s four-percent increase in sales and revenues in the first quarter is a relief to many after ten periods of declines. Amy Campbell is the Director of Investor Relations. She says the arrow is going in the right direction, but it’s still too soon to count it as a turn around.

 

“We are at, still at pretty low levels for resource industries. They peaked at over 20-billion-dollars back in 2012 and we still only expect this to be less than 7-billion-dollars in sales this year.”

Campbell says the company’s resource industries are still well below peak and in fact even where they would expect normal demand.

Roger W / Flickr/Creative Commons

Caterpillar started off 2017 on stronger footing.

Caterpillar Moves HQ to Deerfield

Apr 19, 2017

  Caterpillar is moving its global  headquarters to a Northern Chicago suburb. A statement from the company says the new headquarters building in Deerfield is minutes away from Chicago's O'Hare International Airport, is centrally located near major interstates, and offers direct access to the Chicago Metra.

Union local 974 in East Peoria ratified its supplemental agreement that goes along with its six-year main contract with Caterpillar Inc. The UAW announced the agreement had been "overwhelmingly ratified" by Local 974 workers of the heavy equipment maker.

Caterpillar has finalized details on its decision to move production out of its Aurora factory. The production of large wheel loaders and compactors is moving to Decatur. Medium wheel loader manufacturing is moving to North Little Rock, Arkansas. Despite the move of manufacturing, Caterpillar will maintain an Aurora office for engineering and product support work.

UAW Ratifies Caterpillar Contract

Mar 27, 2017

Caterpillar has a new six-year agreement with its United Auto Workers Union. The new agreement is effective immediately.

Cass Herrington / Peoria Public Radio

Caterpillar has retained special outside counsel to help in dealing with matters related to the criminal search conducted by a trio of federal agencies earlier this month. 

Cass Herrington / Peoria Public Radio

Local businesses based in Peoria are making their presence known on a new social campaign, called Peoria is My Headquarters.

Local business and civic leaders attended the launch at the Civic Center. The My Headquarters initiative comes in the wake of news that Caterpillar is relocating its HQ to Chicago. That announcement last month left some Peoria residents feeling baffled and uncertain about the city’s future.

Tanya Koonce / Peoria Public Radio

Federal agents continued searching Caterpillars Headquarters building in downtown Peoria overnight. Search warrants were executed yesterday at Caterpillar offices in Peoria, East Peoria and Morton. The U.S. Attorney’s Office confirms the multi-agency investigation included the FDIC Office of Inspector General, the IRS Criminal Investigation Division, and the US Department of Commerce, Office of Export Enforcement.

 

Cass Herrington / Peoria Public Radio

Multiple Federal Law Enforcement agencies executed search warrants at three Caterpillar offices today. Federal agents entered Caterpillar’s World Headquarters Building on South West Adams St. in Peoria, Building AD in East Peoria and the Morton offices. The identical search warrants allowed the federal government to seize a wide range of documents, hardware and software related to the movement of any products between the U.S. and Switzerland, specifically the Swiss Subsidiary Caterpillar known as CSARL.

Roger Wollstadt / Wikimedia Commons

Three regional groups got together yesterday to compare and share notes about the strength and diversity of the local economy. 

Peoria's State of the City Resolved After CAT News

Feb 1, 2017
Tanya L Koonce / Peoria Public Radio

Peoria Mayor Jim Ardis delivered the annual State of the City Speech Wednesday, a day after Caterpillar announced it will take its headquarters and top 300 executive jobs to Chicago.

Twitter

Peoria Mayor Jim Ardis opened his State of the City speech by addressing the “elephant” in the room: Caterpillar’s announcement that it’s moving headquarters to Chicago.

Caterpillar News A Gut Blow to Peoria

Feb 1, 2017

 The news Caterpillar is moving its world headquarters to Chicago came as a surprise to most Tuesday. The announcement of the move follows the February, 2015 declaration the company would stay in Peoria. In fact, Caterpillar was planning to expand its world headquarters, taking up 31-acres downtown near the Peoria Riverfront.

Tanya Koonce

The director of Peoria airports says he doesn't think Caterpillar's decision to move its headquarters to the Chicago area will have much effect on travel.

Caterpillar

Caterpillar is moving its global headquarters to Chicago. The company announced today it will locate a limited group of senior executives and support functions to the Chicago area later this year. Caterpillar also reaffirmed its ongoing commitment to Peoria and Central Illinois. The company will not build the previously announced headquarter complex in Peoria. 

Caterpillar Looks to Year Ahead

Jan 26, 2017

2016 saw more reductions in sales and revenues for Caterpillar. That grows on the losses of 2015. Sales and revenue of $38.5 billion represents a more than 30-percent decline over the two year period.

Since the company announced its massive restructuring plans at the end of 2015, it’s cut 16,000 jobs around the globe. Caterpillar’s 2017 outlook also anticipates another $500 million in restructuring costs.

Caterpillar finished up 2016 in the red. The company released its fourth quarter and year-end reports Thurs.

Caterpillar is contemplating moving machine production out of its Aurora facility. The move will be in addition to the global restructuring and cost savings plan announced in September 2015.

Caterpillar Layoffs Cut Deeper

Dec 14, 2016

More Caterpillar workers are being walked-off the job today in the Peoria area.

United Way agencies across the United States are receiving $11.5 million in contributions from Caterpillar employees and retirees and the company Foundation.  This amount includes a dollar-for-dollar matching grant from the Caterpillar Foundation.

Tanya Koonce / Peoria Public Radio

Caterpillar is celebrating the life saving teamwork of seven people who administered CPR when their colleague collapsed. 49-year-old Mark Whiting went into cardiac arrest about a month ago while speaking at an offsite work meeting. Seven of his colleagues responded.

Caterpillar cautioned investors gathered at a conference Thurs. that early Wall Street forecasts were “too optimistic” about the year ahead.

Earlier analysts’ consensus from October projected earnings per share of $3.25 and revenue of $38 billion.

Caterpillar’s third-quarter earnings report that came out Tuesday, comes with information that often doesn’t get much attention after the basic numbers. The company’s outlook includes preliminary financial considerations for 2017.

Caterpillar Inc.'s third-quarter earnings are lower than this time last year, but earnings surpassed Wall Street expectations.

Cat reported its numbers before the opening bell today that show the company generated a net income of $651 million in the third quarter. That’s down $2 million from third quarter last year of $559 million. The company posted Q-3 earnings of 85 cents per share, which beat analyst estimates of 77 cents per share.

Caterpillar

Civic Philanthropist and Former Caterpillar CEO Glen Barton has died. Barton retired as CEO of Caterpillar in 2004 after 43 years with the company.

angela n. / Flickr/Creative Commons

 

PEORIA, Ill. (AP) - The Peoria-based construction and mining equipment company Caterpillar Inc. is opening its first permanent office in Chicago.

The Caterpillar office will have 45 employees and be located in the downtown Merchandise Mart building along the Chicago River. The new Chicago "Digital and Analytics Hub" expands on operations already housed in Peoria.

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