This local company who has laid off or fired over 25,000 workers worldwide reported this week that retail sales of machines in North America for the three month rolling period ended May 31 were down 57% from last year's comparable sales.
On April 9, Caterpillar announced that they were suspending all cash payments to the planned downtown museum (they would continue to make matching gifts from employees and retirees) and that the Visitors Center spending plan would also depend on the economy. Stock was trading at $33 and change at the close of business Friday.
However, none of this bad news and the financial distress of Peoria County has stopped the county administration and board from moving rapidly to take possession of the museum.
When the Titanic was sinking, the captain was assuring everyone on the dance floor or at dinner that his ship was "unsinkable". No, we are not the Titanic but most experts are predicting a flat economy maybe stretching out five years.
By the way, has strong museum promoter CEO Michael Bryant resumed building at his Methodist Hospital?
This local scenario is interesting as this recession plays out and how people react when "facts" get in the way of their expansive plans.