Correspondent, Chicago
James's Feed
Jul 24, 2013

Caterpillar slashes outlook, plans more cost cuts

By James B. Kelleher

(Reuters) – Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) reported a 43.5 percent drop in quarterly profit and cut its outlook for the year on Wednesday, blaming steeper-than-expected inventory reductions by dealers and continued weak demand from the mining industry.

The world’s largest maker of mining and construction equipment, which has reduced its worldwide workforce by 8 percent in the past year, said the cost-paring would continue in the second half. It did not give details.

Jul 23, 2013

Dealer data from Caterpillar suggests second-quarter results may be weak

CHICAGO (Reuters) – Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) released unaudited dealer data on Tuesday showing a slowdown in sales of its heavy equipment everywhere except North America, a possible warning sign ahead of the company’s second-quarter earnings due on Wednesday.

The world’s largest maker of construction and mining equipment said global dealer sales of its yellow earthmoving machines were down 8 percent year-over-year in June.

Jul 23, 2013

Dealer data from Caterpillar suggests 2nd-qtr results may be weak

CHICAGO, July 23 (Reuters) – Caterpillar Inc
released unaudited dealer data on Tuesday showing a slowdown in
sales of its heavy equipment everywhere except North America, a
possible warning sign ahead of the company’s second-quarter
earnings due on Wednesday.

The world’s largest maker of construction and mining
equipment said global dealer sales of its yellow earthmoving
machines were down 8 percent year-over-year in June.

Jul 19, 2013

Whirlpool, Electrolux see a rebounding Europe

CHICAGO, July 19 (Reuters) – Home-appliance manufacturer
Whirlpool Corp and Swedish rival Electrolux AB
forecast a strong rebound in demand from Europe,
suggesting consumer confidence may be turning the corner after
being battered by a debt crisis and austerity measures.

Whirlpool profit surged 75 percent in the second quarter on
rising sales in all of its markets, especially Europe and the
United States, where the housing recovery boosted demand for
appliances.

Jul 19, 2013

Whirlpool profits surge as sales rebound; company raises outlook

CHICAGO (Reuters) – Whirlpool Corp (WHR.N: Quote, Profile, Research, Stock Buzz) posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook on Friday, citing sales gains in all of its markets, including Europe and North America.

The results suggested U.S. and euro zone consumer confidence may be turning the corner after being battered by debt crises and austerity measures in Europe and a weak economic recovery and high unemployment in the United States.

Jun 21, 2013

Analysis: As boomers age, Harley hunts for younger riders

CHICAGO (Reuters) – Harley-Davidson Inc doesn’t do much quietly. Its motorcycles are notoriously noisy. Its slogans – “Screw It. Let’s Ride.” – are loud too.

So why was the Milwaukee company quiet last year when by its own numbers it successfully zoomed past a demographic hazard analysts had fretted about for years?

Jun 21, 2013

As boomers age, Harley hunts for younger riders

CHICAGO (Reuters) – Harley-Davidson Inc(HOG.N: Quote, Profile, Research) doesn’t do much quietly. Its motorcycles are notoriously noisy. Its slogans – “Screw It. Let’s Ride.” – are loud too.

So why was the Milwaukee company quiet last year when by its own numbers it successfully zoomed past a demographic hazard analysts had fretted about for years?

Jun 14, 2013

(OFFICIAL)-FEATURE-US shale is a boon to manufacturers but not their workers

YOUNGSTOWN, Ohio, June 14 (Reuters) – This city has been
down for so long, it’s hard to believe what’s risen up here in
the heart of America’s “Rust Belt.”

On an industrial site littered with scrap metal, a
French-Japanese joint venture called Vallourec Star has just
opened a $1.1 billion state-of-the-art steel pipe mill.

Jun 14, 2013

U.S. shale is a boon to manufacturers but not their workers

YOUNGSTOWN, Ohio, June 14 (Reuters) – This city has been
down for so long, it’s hard to believe what’s risen up here in
the heart of America’s “Rust Belt.”

On an industrial site littered with scrap metal, a
French-Japanese joint venture called Vallourec Star has just
opened a $1.1 billion state-of-the-art steel pipe mill.

May 17, 2013

China deal ends distraction, but not questions, for Caterpillar

CHICAGO (Reuters) – Caterpillar Inc’s (CAT.N: Quote, Profile, Research, Stock Buzz) deal to cut the purchase price of a Chinese mining-equipment maker it bought last year ends an embarrassing episode that overshadowed the company’s effort to expand in China and distracted its executives for months.

Now, analysts say, comes the hard part: Proving to investors that ERA Mining Machinery, the Chinese maker of hydraulic roof supports that Caterpillar purchased, really can help penetrate China’s huge underground mining market.