Stimulus Bill already creating jobs, Caterpillar to rehire employees!

[mystieus]

Earlier Wednesday, trying to cast the plan in terms of real jobs, Obama announced that machinery giant Caterpillar Inc. plans to rehire some of its laid-off workers if Congress approves a sweeping stimulus bill.

That Obama statement came just one day before he was heading to Peoria, Ill., to visit the company's workers and keep pushing his plan. The heavy-equipment maker has announced more than 20,000 job cuts as shrinking credit and construction demands hurt orders for tractors and other machines.

Said Obama: "Today, the chairman and CEO of Caterpillar said that if the American Recovery and Reinvestment Plan passes, his company would be able to rehire some of those employees." He did not specify to whom the company chairman and CEO, Jim Owens, made such a pledge.

Caterpillar spokesman Jim Dugan said he had no comment on the president's account of the company's plans but did not dispute it either. He said the company did not want to discuss ahead of time what its chairman would say during the president's visit, but that it looked forward to hosting Obama.

White House spokesman Robert Gibbs said Caterpillar "did communicate to the White House" that it plans to reevaluate its employment situation, particularly in Peoria and downstate Illinois, based on "a big investment that could be coming shortly to put Americans back to work."

As anticipation grew for an economic bill that Obama could sign, the president kept up his pattern of getting outside Washington to promote his ideas. He spoke on Wednesday from a highway construction site in Springfield, Va., outside Washington, where work is under way but more money will be needed.

http://hosted.ap.org/dynamic/stories/O/OBAMA_STIMULUS?SITE=CARIE&SECTION=HOME&TEMPLATE=DEFAULT

Related.

The Associated General Contractors of America has heard similar things from its members. During the release of its construction-employment and business forecast for 2009, AGC CEO Stephen Sandherr said two-thirds of members surveyed anticipate laying off some of their work force this year. But 85 percent of members would either cancel planned layoffs or hire new employees if the economic stimulus package puts state construction projects back in the works.
McKenzie

"With the infrastructure stimulus, construction companies could get people in work in a way that immediately boosts our economy," Sandherr said. "Without the stimulus, construction companies will cut jobs, slash spending, and continue to be among the hardest-hit sectors."

Last month, AGC reported an investment of $1 billion in nonresidential construction in Michigan would add about $2.3 billion to the state's gross domestic product and create or sustain 20,000 jobs.

Patzer said MDOT has had to shelve nearly 230 projects, but it is estimating it could fund at least 200 projects with the stimulus money.

"We've been ready to go for two years," he said. "It certainly isn't a capacity problem."

http://www.mlive.com/business/west-michigan/index.ssf/2009/01/is_the_federal_stimulus_plan_a.html

[jberryhill]

1. You know...

Caterpillar is one f-d up company for a lot of reasons, but this is a good move.

Now, if they can quit exporting armored bulldozers, that would be a good move too.

[Thrill]

2. How great will it be tomorrow. For him to announce they are bringing back 5,000 workers now

Republicans will be shitting Bricks

[Pirate Smile]

3. A funny episode from Gibby's press briefing today - the press asked him how Obama and

Caterpillar CEO communicated. Gibbs joked "text". At least the press corp took it as a joke (I did as well) but who knows. ;)

Well, I stumbled across the exact quote on Tapper's blog:

TAPPER: The president this morning, Robert, talked about the fact that the CEO of Caterpillar had praised the idea of a stimulus package and how the company had recently announced 20,000 layoffs and if the stimulus package passes, he'll be able to rehire some of those people. And the CEO, according to local press in Peoria, is going to deliver that message to the president tomorrow, although I guess the president already got it somehow.

GIBBS: Text. (Laughter and press room chatter)

[globalvillage]

4. Obama lauds Intel plan to invest $7B in chip plants

February 10, 2009 (Computerworld) WASHINGTON -- Intel Corp. today announced plans to invest $7 billion to revamp factories in three states so that the facilities will be able manufacture chips based on its new technology. The move, which attracted the attention of President Barack Obama, may be the first real good news the battered tech sector has seen in months.

http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9127708&intsrc=news_ts_head

[mystieus]

5. Awesome!

[jberryhill]

6. Truth be told

The market cycle of semiconductor fab lines is about 18 months. That industry retools each time the standard line width drops on the chips.

But, hey, it is what it is.

[globalvillage]

7. But they're doing it in the US

So that's good news, isn't it?

[jberryhill]

10. Yes

Depending on the chip line.

I don't even think Intel does commodity chips like memory anymore.

Some of the processor fab stuff is probably under export controls, but I've been out of the business for a while after getting H1-B'd into another line of work.

If you'd have put a gun to my head before I read the article, I might have guessed Malaysia or Singapore.

[mystieus]

8. Google CEO says he will hire more people when the Recovery Bill is passed

http://www.foxbusiness.com/video-search/m/21806737/google-ceo-if-stimulus-passes-we-ll-hire.htm

:)

[firedupdem]

9. Let the good news continue! n/t

[Jennicut]

11. So companies are annoucing this already, guess the Rethugs were wrong

But we all knew that already.
Now, to work on keeping jobs here.