This Week’s Cartoon: “Fat Cat”
As if we needed any further proof that trickle-down economics is a joke, along comes massively-profitable Caterpillar’s decision to freeze the wages of its Joliet, IL factory workers from now until the cows come home, and then some. Meanwhile, the compensation for Cat CEO Douglas Oberhelman shot up 60% in 2011, to $16.9 million. It’s not like the workers were being lavishly paid, either; the top tier had average salaries of $55,000 before overtime.
Unfortunately, I can’t boycott Cat, as I won’t exactly be in the market for a knuckleboom loader anytime soon.
Tags: business, Caterpillar, economy, labor, unions, work, workers