Obama: My plan means rehires here. CEO: Actually, more layoffs first | Top of the Ticket | Los Angeles Times: Speaking in East Peoria, President Obama says: "Yesterday, Jim, the head of Caterpillar, said that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off. And that's a story I'm confident will be repeated at companies across the country.'
Jim Owens, chief executive officer of Caterpillar who announced 22,000 layoffs recently and supports the president's plan, was asked if he agreed with that re-hiring assessment:
'I think, realistically, no. The truth is we're going to have more layoffs before we start hiring again.'"
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I wonder is there is a point where the press starts to acknowledge that they helped elect somebody whose lack of executive experience is a significant problem for this country.
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