CEO Contradicts Obama on Rehiring Employees

[Bob]

At a Caterpillar Inc. plant in Peoria, Ill., today, President Obama said that his proposed economic stimulus would allow the company's CEO to rehire recently laid-off employees. But the head of the company said he will have to fire more workers (http://abcnews.go.com/Business/wireStory?id=6858553)before he can rehire anyone who has been let go.

Obama has said twice in the past two days (http://abcnews.go.com/Politics/wireStory?id=6854530)that Caterpillar CEO James Owens indicated his company would be able to rehire some of the 20,000 recently laid-off employees.

"Yesterday, Jim, the head of Caterpillar, said that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off," Obama said today in Peoria.

But when asked today if the stimulus could do that, Owens said, "I think, realistically, no. The honest reality is we're probably going to have more layoffs before we start hiring again."

[sws4420]

You mean the stimulus isn't going to solve everything?

Gadzooks.

I hate this Obama tool. Sorry to the fans of his.

[LLL]

It just shows that Bomber has no clue when it comes to the realities of running a business. He probably honestly thought that the day Congress passed the big giveaway that companies would immediately go out and refill their staffs. I guess he forgets there's a little thing called ORDERS. When Cat has orders to fill they will ramp up production and hire the necessary workers. Is Bomber reall this naive or do his gums just get flapping and he can't stop them?