Strike idles two Caterpillar plants
Wall Street investors seemed undeterred by the strike, bidding up the price of Caterpillar stock by $1.25 a share to $48.50. But analysts who follow the company wondered how long it will be before Caterpillar has to reduce production of engines, parts and other components to prevent backlogs. "...
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| Published in | Las Vegas review-journal |
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| Main Author | |
| Format | Newspaper Article |
| Language | English |
| Published |
Las Vegas, Nev
Las Vegas Review - Journal
05.11.1991
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| Online Access | Get full text |
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| Summary: | Wall Street investors seemed undeterred by the strike, bidding up the price of Caterpillar stock by $1.25 a share to $48.50. But analysts who follow the company wondered how long it will be before Caterpillar has to reduce production of engines, parts and other components to prevent backlogs. "The selective strike was very clever," said Eli Lustgarten, analyst for PaineWebber Inc. in New York. "The union really has nothing to be gained by shutting the company down. This is a more appropriate strategy because it makes Caterpillar respond." Analyst Charles Harris of Oppenheimer and Co. of New York said East Peoria and Decatur are the two most profitable facilities for Caterpillar, which has lost $86 million in the first nine months of 1991. |
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| ISSN: | 1097-1645 |