Word: caterpillared
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...trade chumminess came too late for Caterpillar, the big Illinois maker of earth-moving equipment; it sent no top executive from Peoria but was represented instead by Paul Smith, the company's man in Moscow. During the period of the Reagan halt on U.S. supplies for the Soviet natural gas pipeline, Caterpillar lost a $90 million sale of 200 large pipelayers, mainly to Japan's Komatsu...
...years, Republican Congressman Robert Michel has played well in Peoria, the Everytown of American politics. He has become an institution there, much like the local Caterpillar Tractor plant. But along with much of the nation, Peoria (pop. 124,000) has suffered the ravages of recession and unemployment. Caterpillar has laid off 8,000 employees, and joblessness has hovered at 16%, the highest rate since the Depression. So for the House Republican leader, who shepherded President Reagan's budget and tax cuts through Congress, the overriding national issue of the 1982 campaign, the economy, was a local issue?and a survival...
...list includes Johnson & Johnson as well as Procter & Gamble in consumer goods; Digital Equipment, Hewlett-Packard, IBM and Emerson Electric in high technology; Delta Air Lines and McDonald's in services; and Caterpillar, Dana and 3M in a catchall category called "general industrial." Those companies were singled out not only because of their solid financial performance over the long haul (20 years or more) but also because of other qualities, especially the ability to innovate. The excellent companies, say the authors, "fawn" on their customers and learn from them. The best managers value action above all else, a spirit...
Members of the group, which maintains offices in New York and Moscow, have been battered by both the recession and trade sanctions. A French subsidiary of one member, Dresser Industries, was penalized for delivering giant compressors for the Euro-Soviet pipeline. Caterpillar Tractor Co., another member, lost millions of dollars in orders...
...local issue as depressed communities and neighborhoods are increasingly shaken by the epidemic of layoffs and business failures. Nowhere is that concern more evident than in that symbol of heartland America, Peoria (pop. 124,000, unemployment rate 16.5%) where the Pabst brewery earlier this year locked its gates, the Caterpillar Tractor Co. plant has laid off 8,000 workers over the past two years, and House Minority Leader Robert Michel, who faithfully shepherded the Reaganomics revolution through Congress, is having a substantially more difficult race than he might have expected. "Jobs, jobs, jobs," says Democrat G. Douglas Stephens...