Now that there has been an overturning election and there is a new bunch in the power spots in Washington, it would be useful to know that the horror stories such as those in the January/February 1993 issue [The U.S. Corporate Welfare Rolls] are getting to people who have been empowered to do something about them. I will be glad to redirect my copy if you need it.
William P. Risso
Great Falls, VA
To the editor:
A suggestion. The next time the Monitor compiles its list of the "Ten Worst Corporations," please check your facts.
Last month the Monitor justified Caterpillar's selection to this list because we allegedly gave our CEO an 18 percent raise, while 20 percent of our workforce had wages frozen and others only received a one percent increase.
The facts are that cash compensation of Caterpillar's CEO actually declined 6.5 percent. At the same time, average wages of our UAW-represented employees increased 5.5 percent - from $16.98 to $17.93 an hour. Furthermore, the "20 percent" of the workforce that you cite had its wages frozen received increases to match the cost of living.
To the best of our knowledge, the Monitor obtained its information about Caterpillar solely from the United Auto Workers and did not contact the company. That obviously was a mistake. UAW leaders in Detroit have mounted a corporate campaign to pressure Caterpillar to sign a labor contract "patterned" after companies that are not our primary competitors.
Caterpillar is determined to remain globally competitive from our U.S. manufacturing base. But to do that, we need a labor agreement that's fair and makes sense for Caterpillar. To agree to anything else would justify our being included on your list - because it would mean Caterpillar products would no longer be competitive.
William C. Lane
Public Affairs
Caterpillar Inc.
Peoria, IL