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CAT Earns Big In 2011

The claws may be drawn again with more discouraging news for laid off employees of the EMD plant in London. It looks like the CEO of Caterpillar got quite the raise last year. CAT's top guy, Doug Oberhelman received close to 15-million dollars in salary, bonus and stock option in 2011. This is a 42 percent jump from 2010. Electro Motive Diesel, a subsidiary of Caterpillar, had their doors locked for good on February 3rd following a strike by their employees who walked out at the beginning of January after CAT announced they were going to cut their wages and benefits by 50%. CAT shut the doors putting over 450 out of work and moved their operations to Indiana. Not only did the CEO earn a good chunk of money, the company announced earlier this year that 2011 was their most profitable year in history with profits rising by 83 percent to 4.9 billion dollars (US).

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