More Failure for the Candy-Crappin' Unicorn™

The New York Times reports: Metamorphosis at Caterpillar Over Jobs.

Another casualty of the stimulus package became apparent while we were waiting for the final language of the reconciled bill to appear online. It appears that Caterpillar won’t be hiring back any of those 22,000 laid-off workers because of the President’s $789 (Ed: sic) stimulus package, despite the fact that President Obama alluded to words by the company’s executive just earlier today touting the measure.

With the very familiar logo of Caterpillar looming around him at one of the company’s hard-hit plants in Peoria, Ill., President Obama publicly repeated the promise that Caterpillar’s chief executive officer, Jim Owens, might be able to rehire some of the people who were laid off — if the stimulus were passed.

But oops. After the president left, Mr. Owens not only did a turnabout on rehiring; he also suggested there may be even more layoffs. Although he said he continued to support the stimulus package, it wouldn’t result in a reversal of layoffs for anyone: “I think realistically no. The truth is we’re going to have more layoffs before we start hiring again.”

The Candy-Crappin' Unicorn™ has failed again!