Caterpillar Metamorphosizes to Douchebag

Douglas Oberhelman earned $16.9 million in 2011, a figure that includes salary, bonuses, stock and option awards and retirement plan contributions. Oberhelman’s pay increase, which was tied to the company’s performance, included a $4.9 million cash payment, an 81 percent increase from his 2010 cash award. His base salary increased to $1.4 million from $1.1 million in 2010.

Chicago Tribune: Compensation for Cat’s Oberhelman jumps 60%

For the second quarter, Caterpillar reported a profit of $1.67 billion, or $2.54 per share, compared with $1.02 billion, or $1.52 per share, a year earlier.

Chicago Tribune: Caterpillar quarterly profit jumps 67%

Despite earning a record $4.9 billion profit last year and projecting even better results for 2012, the company is insisting on a six-year wage freeze and a pension freeze for most of the 780 production workers at its factory here [Joliet, Illinois]. Caterpillar says it needs to keep its labor costs down to ensure its future competitiveness.

NY Times: Profitable Caterpillar Pushes Workers for Concessions

I guess the people who actually make the products weren’t really part of the company’s success.

Update:

Workers who had been striking at a Caterpillar hydraulic parts factory in Joliet, Ill., voted on Friday to ratify a proposed six-year contract that contained almost all of the concessions the company had demanded.

NY Times: Caterpillar Workers Ratify Deal They Dislike

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Daniel J. Wilson

I am a designer, drummer, and amateur photographer in Brooklyn, NY.

One thought on “Caterpillar Metamorphosizes to Douchebag”

  1. I am torn between shouting, “Why do you hate America ?!” and chiding you to remember, “By the sweat of your brow you will eat your food until you return to the ground…”

    It is divine that the proles work; Douglas Oberhelman has been blessed.

    A curse upon the house of those who would intimate that Oberhelman has a compact with Lucifer ! After all, Oberhelman translates into “highly light man” or more roughly, “blessed man”.

    Fear not. Soon enough those Communist bulldozer builders’ jobs will be outsourced to China. After all, if it’s good enough for BMW, it is good enough for Caterpillar !

    (“Mommy, what does ‘facetious’ mean ?”)

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