580 Million Dollars, that was the total right down this last
reporting quarter that Caterpillar Corp, of Peoria Ill announced.
This was after they had already purchased for 690 Million
Dollars (475 Million of Cash) ERA Mining Machinery Ltd of Hong Kong, and more
particularly their Zhengzhou Siwei Mechanical and Electrical Manufacturing Co
subsidiary in China. This was after allegedly
performing their pre acquisition due diligence.
By my count there are at least 31 individual who to some
extent on the Caterpillar Corp. side could have failed. Since we really do not know which individual
are to blame. We must blame them all,
and we should blame them equally. Except
for the Chairman and CEO, everyone of these individual owes the corporation
$18,125,000.00 Dollars. The Chairman and
CEO is special he hold two title and therefore he should pay the corporation
$36,250,000.00 Dollars (Twice what everyone else), it only fair, he fail twice,
once as the CEO and once as the Chairman, rank has it privileges.
As a shareholder I for one am willing to vote for the corporation to accept from each and everyone
either a certified check the amount or their resignations as settlement of the
debt that they owe the corporations. I
will not name names you can go to the Caterpillar Corp web site for the Officers and and Board Members see for
your self, but I will name positions.
Chairman and CEO, CFO, Group President Caterpillar, Group
President Construction, Group President Resource, VP Earth Moving, VP
Excavation, VP Manufacturing, VP China Operations, VP Mining Sales, VP
Procurement, VP Asia Pacific, Chief Accounting Officer, Corporate Controller,
Treasurer, Chief Audit Officer, Corporate Secretary, Board Member 1, Board
Member 2, Board Member 3, Board Member 4, Board Member 5, Board Member 6, Board
Member 7, Board Member 8, Board Member 9, Board Member 10, Board Member 11,
Board Member 12, Board Member 13, Board Member 14, Board Member 15 (In order as
shown on the corporate web site).
I know that when you have annual net revenue of
approximately 5.0 Billion Dollars of net income a screw up of .5 Billion
Dollars appears to be rather small, its only 10 percent of annual net
revenue. Some how after Caterpillar had
purchased the puppy they were able in a rather short amount of time to figure
out that not only did it have heart worms, but it had pin worms, or just about
everything else short of schistosomiasis, but not for the lack of trying.
So when does the other shoe drop and the shareholders here
from the board that not only did they agree to the purchase of sick puppy, but
that the puppy was so sick that it did not survive. Right now 84 percent of the purchase price
has been written off, when do we hear about the other 16 percent.
A few more of these maneuvers and a company that prides it
self on building equipment for moving dirt can it self be turned into dirt.
This certainly calls into question the competency of the
Senior Management, and the Board of Directors.
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