I believe this makes 3 corporate HQs for Cat in less than 10 years.
That speaks to uncertainty and instability in corporate leadership.
Uprooting your entire corporate leadership team that frequently cannot be a good experience. I’d be looking to lease, not buy in Texas.
Yesterday’s Cat news and Illinois’ business “climate[.]” Except for voters refusing to adopt “Right to Work” Missouri would qualify for Rich’s expression “Opposite Land” which is currently applied to Indiana. Red state, all statewide offices GOP, legislative GOP super majorities. Yet read the attached listing of corporate headquarters who have left St Louis for other states. And while InBev has kept Busch’s corporate headquarters in St. Louis, Sales & Marketing are in NYC. What does Missouri have in common with Illinois? Both are too far South for a pleasant Summer, too far North for a pleasant Winter.
- Back to the Future - Wednesday, Jun 15, 22 @ 9:26 am:
I lived in Peoria for a few years and remember how supportive Cat management and it’s employees were to the local university and the Peoria area.
Sad to see them leave Illinois. This is a real loss along with Mars, Wrigley and Boeing.
IMA wrote about Illinois losing 1000 manufacturing jobs.
None of this should be considered a cheerful reflection on our State. We really live in a great state, but these losses are serious and should be a cause for reflection not an opportunity for excuses.
“Chalking up businesses leaving Illinois due to sub-optimal weather is hilariously … .”
To what do you attribute corporate headquarters leaving St. Louis? Missouri has everything the “Pro-business” people want (except the pesky voters rejecting “Right to Work”). IF Illinois’ negatives were that important, those relocations would have been to St. Louis’ suburbs, not out of state.
=but these losses are serious and should be a cause for reflection not an opportunity for excuses.=
Reflect on a subset of 240 corporate execs that find Texas more to their liking? Perhaps perspective is more important than reflection.
Over the last decade or so corporate executives, like those at Caterpillar, have concluded that they don’t have to actually reside where the work takes place or where most of their management is centered. They then fantasize about all of the “better” places they might live. Today it could be Deerfield, tomorrow Irving. And once you’ve physically detached leadership from the business they can live anywhere and move on a whim.
Rarely does this form of leadership work well for the company (see Sears and Eddie Lampert). When leaders are disconnected from the companies they lead the organization suffers and people up and down the chain take notice.
You can ascribe any “theory” as to why companies do this to fit your narrative. More often than not you will be wrong as the decision comes down to a CEO’s or management teams personal preferences and are typically completely removed from politics. Folks running businesses typically don’t bail from a state because of personal/property taxes - even Ken Griffin. It matters about as much as the tip they leave at Gibson’s.
Caterpillars “presence” in Chicago is about the same as a law firm or mid sized accounting firm leasing office space. Other than perhaps a sign coming off of the side of an office building, we’ll hardly notice the difference.
- hisgirlfriday - Wednesday, Jun 15, 22 @ 10:12 am:
Thinking today about Rodney Davis and his relationship to the Jan. 6 committee.
It’s too bad his only opponent is Mary Miller so he won’t ever need to account for his role attempting to whitewash Jan. 6.
First by participating in Kevin McCarthy’s stunt to try to get Jim Jordan and Jim Banks on the committee and then refusing to serve so he could whine about its work.
He’s also part of the cover-up around Rep. Loudermilk showing suspicious characters around the Capitol right before Jan. 6.
- Original Rambler - Wednesday, Jun 15, 22 @ 12:14 pm:
Saw my first Rivian truck out on the street. It looks much better than in the photos I’ve seen.
- hisgirlfriday - Wednesday, Jun 15, 22 @ 12:55 pm:
This Twitter thread has more backstory on the Rep. Loudermilk Jan. 5 tours of Jan. 6 rioters that Rodney Davis is trying to cover up.
- Oswego Willy - Wednesday, Jun 15, 22 @ 9:00 am:
===Bye, bye, Cat.===
The 17,000 Cat workers are confused.
Here I thought we could start one morning without someone cheering bad news, yet…
- Michelle Flaherty - Wednesday, Jun 15, 22 @ 9:07 am:
I believe this makes 3 corporate HQs for Cat in less than 10 years.
That speaks to uncertainty and instability in corporate leadership.
Uprooting your entire corporate leadership team that frequently cannot be a good experience. I’d be looking to lease, not buy in Texas.
- Anyone Remember - Wednesday, Jun 15, 22 @ 9:09 am:
Yesterday’s Cat news and Illinois’ business “climate[.]” Except for voters refusing to adopt “Right to Work” Missouri would qualify for Rich’s expression “Opposite Land” which is currently applied to Indiana. Red state, all statewide offices GOP, legislative GOP super majorities. Yet read the attached listing of corporate headquarters who have left St Louis for other states. And while InBev has kept Busch’s corporate headquarters in St. Louis, Sales & Marketing are in NYC. What does Missouri have in common with Illinois? Both are too far South for a pleasant Summer, too far North for a pleasant Winter.
https://www.stltoday.com/business/local/so-long-st-louis-company-headquarters-that-have-moved-out/collection_eace896a-9768-58d4-90ac-21a8a869b810.html#anchor_item_37
- PublicServant - Wednesday, Jun 15, 22 @ 9:10 am:
Up at 5 this morning watering the grass and garden before Chicago turns into heat city.
- Trying to be Rational - Wednesday, Jun 15, 22 @ 9:12 am:
The comment is “cheering bad news” only in a warped interpretation.
- HowBoutDat - Wednesday, Jun 15, 22 @ 9:14 am:
Chalking up businesses leaving Illinois due to sub-optimal weather is hilariously and willfully ignorant
- Lynn S. - Wednesday, Jun 15, 22 @ 9:15 am:
@ Trying to be Rational–
It’s sarcasm.
Go to yesterday’s edition and read the updates to the Cat story.
- Bruce( no not him) - Wednesday, Jun 15, 22 @ 9:21 am:
” 1.5 percent of Illinois’ 17,000 Caterpillar employees”
Pretty sure Illinois will survive.
It’s 240 jobs. Shall we not over react?
- Steve Rogers - Wednesday, Jun 15, 22 @ 9:22 am:
Almost a no-no last night for the Cardinals.
- Oswego Willy - Wednesday, Jun 15, 22 @ 9:25 am:
=== only in a warped interpretation.===
Not really. No.
You forgot about the 17,000+ jobs staying.
- Back to the Future - Wednesday, Jun 15, 22 @ 9:26 am:
I lived in Peoria for a few years and remember how supportive Cat management and it’s employees were to the local university and the Peoria area.
Sad to see them leave Illinois. This is a real loss along with Mars, Wrigley and Boeing.
IMA wrote about Illinois losing 1000 manufacturing jobs.
None of this should be considered a cheerful reflection on our State. We really live in a great state, but these losses are serious and should be a cause for reflection not an opportunity for excuses.
- Just Sayin - Wednesday, Jun 15, 22 @ 9:27 am:
==What does Missouri have in common with Illinois? ==
St. Louis is to Illinois as Eddie Haskell is to the Cleaver family.
- Friendly Bob Adams - Wednesday, Jun 15, 22 @ 9:28 am:
On days like this I always think of my Grandpa who liked to ask “Hot enough for ya?”.
- Just Sayin - Wednesday, Jun 15, 22 @ 9:29 am:
==Almost a no-no last night for the Cardinals.==
Meanwhile, Cubs got it handed to them again last night.
- Oswego Willy - Wednesday, Jun 15, 22 @ 9:29 am:
=== Chalking up businesses leaving Illinois due to sub-optimal weather is hilariously and willfully ignorant===
… and yet it’s true given … air conditioning and migration…
You think folks would move without AC?
That would be hilariously and willfully ignorant
- Anyone Remember - Wednesday, Jun 15, 22 @ 9:31 am:
“Chalking up businesses leaving Illinois due to sub-optimal weather is hilariously … .”
To what do you attribute corporate headquarters leaving St. Louis? Missouri has everything the “Pro-business” people want (except the pesky voters rejecting “Right to Work”). IF Illinois’ negatives were that important, those relocations would have been to St. Louis’ suburbs, not out of state.
- Arsenal - Wednesday, Jun 15, 22 @ 9:35 am:
== Chalking up businesses leaving Illinois due to sub-optimal weather is hilariously and willfully ignorant==
We can also add in that they want to live in a state that lets them treat employees like crap.
How much of a pay cut are you willing to take to keep a corporate HQ in Chicago?
- Rich Miller - Wednesday, Jun 15, 22 @ 9:47 am:
We have a Cat post, so please move that conversation over there https://capitolfax.com/2022/06/15/all-of-these-things-and-more-can-be-true-about-the-cat-move/
- up2now - Wednesday, Jun 15, 22 @ 9:48 am:
Got up early again to water my zinnias before it gets too hot. Love these Illinois summers (not). But I’d sure as heck never move to Texas.
- Pundent - Wednesday, Jun 15, 22 @ 9:50 am:
=but these losses are serious and should be a cause for reflection not an opportunity for excuses.=
Reflect on a subset of 240 corporate execs that find Texas more to their liking? Perhaps perspective is more important than reflection.
Over the last decade or so corporate executives, like those at Caterpillar, have concluded that they don’t have to actually reside where the work takes place or where most of their management is centered. They then fantasize about all of the “better” places they might live. Today it could be Deerfield, tomorrow Irving. And once you’ve physically detached leadership from the business they can live anywhere and move on a whim.
Rarely does this form of leadership work well for the company (see Sears and Eddie Lampert). When leaders are disconnected from the companies they lead the organization suffers and people up and down the chain take notice.
You can ascribe any “theory” as to why companies do this to fit your narrative. More often than not you will be wrong as the decision comes down to a CEO’s or management teams personal preferences and are typically completely removed from politics. Folks running businesses typically don’t bail from a state because of personal/property taxes - even Ken Griffin. It matters about as much as the tip they leave at Gibson’s.
Caterpillars “presence” in Chicago is about the same as a law firm or mid sized accounting firm leasing office space. Other than perhaps a sign coming off of the side of an office building, we’ll hardly notice the difference.
- hisgirlfriday - Wednesday, Jun 15, 22 @ 10:12 am:
Thinking today about Rodney Davis and his relationship to the Jan. 6 committee.
It’s too bad his only opponent is Mary Miller so he won’t ever need to account for his role attempting to whitewash Jan. 6.
First by participating in Kevin McCarthy’s stunt to try to get Jim Jordan and Jim Banks on the committee and then refusing to serve so he could whine about its work.
He’s also part of the cover-up around Rep. Loudermilk showing suspicious characters around the Capitol right before Jan. 6.
- Original Rambler - Wednesday, Jun 15, 22 @ 12:14 pm:
Saw my first Rivian truck out on the street. It looks much better than in the photos I’ve seen.
- hisgirlfriday - Wednesday, Jun 15, 22 @ 12:55 pm:
This Twitter thread has more backstory on the Rep. Loudermilk Jan. 5 tours of Jan. 6 rioters that Rodney Davis is trying to cover up.
https://twitter.com/lrozen/status/1537080557351444481
- Southwest Sider - Thursday, Jun 16, 22 @ 7:04 am:
Condolences to Sean Casten’s family with the death of his daughter.