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It’s time to step on a Caterpillar, Premier Mcguinty

I was reading a column that Martin Reg-Cohn wrote yesterday on the continuing saga in London where as those who’ve followed it know, Caterpillar has locked out it’s workers in a draconian effort to get them to slash their wages by half – this as the CEO earns a million $ salary and the company worldwide made profits in the billions of dollars.

I agree with the column where he says it is now time for the Premier and by extension, his Labor Minister Linda Jeffery, need to do something more then just issue statements saying they are “hopeful” the 2 sides will moderate their tone. Let’s cut to the chase; Caterpillar is the one that has initiated this lock-out by negotiating in bad faith. The only one that needs to moderate their tone is them by coming back with a more reasonable offer to the table.

Caterpillar is also going to do no such moderation while it faces no external pressure to do so.  There’s a time for moderation and a time for action. If Harper isn’t going to do anything (and there’s little reason to believe he’ll step in), McGuinty should be trying to do something more then give speeches. The time for hopeful words is over, Mr Premier, and Minister Jeffery – who I’m astounded said she hadn’t considered trying to implement a Manitoba law that mandates compulsory arbitration if the 2 sides in a labour dispute drag things out for too long.  That option should have been considered yesterday, as well as other options.

UPDATE @ 6:08 pm: Caterpillar has announced record profits:

Caterpillar’s fourth-quarter sales and revenues in 2011 were an all-time quarterly record at $17.243 billion, an increase of 35% compared with $12.807 billion in the fourth quarter of 2010. Fourth-quarter profit was $1.547 billion compared with $968 million in the fourth quarter of 2010. Profit of $2.32 per share was 58% higher than the $1.47 per share in the fourth quarter of 2010. This follows record third quarter profits which amounted to $1.14-billion, up 44% from a year earlier.

5 comments to It’s time to step on a Caterpillar, Premier Mcguinty

  • kjmartin

    So the company makes a profi world wide. So what
    Companys are supposed to make profits. Guess what>>if this plant is not profitable then they have the right as a private business to make decisions to return it to profit. There is greed on both sides here. Most are skilled labour there which through union negotiations have over priced the skills they have. To ask a government to interfere…and of course scott always will throw harpers name on top..
    harper…mcguinty have no right to dictate to a private company on how to run the business
    i know one person who is working there as a unskilled labourer and he lives in a 500000 home.
    perhaps he should live below his means just in case something like this does happen. I do.

  • Stan

    What difference does it make how profitable the company is?
    Is pushing a broom worth more if the company makes more money?
    It is still unskilled labour, isn’t it?

    And is this plant profitable?

    You guys need another course in logic.

  • Anyong

    This is nothing but a ploy for the company to make more billions. Basically, it is nothing but a threat to the people who work there and needs to be considered so. Whether this company remains here, in the US or China…China is probably where it will go….it is ethically destitute and doesn’t give one hoot about people except themselves. A company is not a person but it likes to act as if it is. Capitalists steal every chance they get and is the reason they don’t like regulation, rules and laws. Is the language too plain?…it’s about time more of it were used.

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