Stunning news that just came out this Sunday night. Caterpillar workers approve 6-year contract
Here’s the complete story:
On Sunday March 6, 2011, 10:00 pm EST — PEORIA, Ill. (AP) — The United Auto Workers says employees of Caterpillar Inc. have approved a new labor agreement.
The UAW says a majority of members at Caterpillar approved the new six-year contract in voting Sunday. The union did not provide specific numbers on how members voted.
The contract covers about 9,500 hourly production and maintenance workers at Caterpillar facilities in the Illinois cities of Peoria, Aurora, Decatur and Pontiac, and those in York, Pa.; Denver; and Memphis, Tenn.
Neither the company nor the union has released details of the agreement. It expires March 1, 2017.
Now, Caterpillar (CAT) is an outstanding Midwestern-based company with outstanding and longstanding management and superb, talented, experienced, expert workers, but still …. just sayin’
*full disclosure: IFO owns shares in CAT.