Monday, March 02, 2009

Caterpillar Insider Sales

While Caterpilar stock was sliding into the tank, some insiders were selling at nice profits. Leading the "profit pack" in the last 10 months, was James Buda, $2.8 million, Dr. James Brazil, ex-Bradley President, $420,000, Ed Rapp, 620,000, and Doug Oberhelman, $223,000. Cat CEO Owens exercised another 100,000 stock options and all Cat Executives got their 2008 bonuses.

On the other hand, reportedly, 22,000 other Caterpillar employees got some kind of a boot. Anyway they want to describe it.

All this while the stock was crashing and Caterpillar and the Museum Group was asking the taxpayer for an additional $35,000,000.00 that Ray LaHood couldn't squeeze out of the feds (tax payer dollars) and the private sector big hitters who claimed to have pledged $17.2 million as of 10 months ago.

And the Peoria County Board, 13 Democrats and 4 Republicans, an apparent largely Democrat Administration, are appearing to stealthily be supporting this once in a lifetime, "spectacular", so Henry Hollings said. Hollings is Acting Peoria City Manager and ex-Cat employee. Hollings was the recipient of a recent DUI arrest, and who said in an email dated 2/24, the museum was "part of a massive positive development downtown.

Surely he wasn't talking about the Gateway Building, the One Technology Plaza, the RiverPlex that has never been able to make a single payment on the principal and interest of the 20 year bond it took to build it, Damon's, departed long ago, InPlay, recently bankrupt, RiverStation recently bankrupt and empty AGAIN. Or is he talking about the struggling Civic Center or the new hotel with the high potential of sticking the taxpayers with $39,000,000.00 or Cub's Food or maybe the 2 year behind the first planned opening date; African Exhibit zoo. (I hear some of the major new African inhabitants are "freaking out" in their new surroundings).

Or the ball park that hasn't paid this investor one dime on my investment 15 years ago and who has NO buyer for my stock. (This ballpark was funded with a minimum of $7,000,000,000.00 taxpayer dollars). And does the Stadium even have a name now that O'Brien has withdrawn their sponsorship.

Been kind of quiet down at the old ball park despite the season opening in a little more than a month. Hmmmmmmm.

Or what is Hollings talking about? The new 2% downtown hospitality sales tax on the suckers, I mean downtown hotel visitors? Possibly a new Caterpillar Headquarters on the Riverfront? A new $39,000,000.00 Peoria County BellWood Nursing Home closer to the center of the city as some are proposing?

Who knows who is going to win the race in raising local taxes? We know who is winning in raising taxes in Washington and Springfield.

You blame it all on George? Don't be "silly"


Anonymous said...

Why don't you cry a little more about your ballpark stock. You talk about it at least once a week which probably makes you shit yourself an extra time each day.

Merle Widmer said...

I'm trying to get assholes like you to buy my stock. You evidently think the ball club built with a lot of taxpayers money but privately owned is making money.

After all attendance records are set so they must be making money. Pull your head out of your butt and buy up.

Anonymous said...

Oh WOW. First time visiting your blog. Will be my last

Anonymous said...

$7 billion for the ballpark, really?