After unilaterally imposing the terms of its last contract offer on its workers, terms of which entail the halving of wages and a substantial reduction in benefits, Electro-Motive Canada, a subsidiary of U.S. industrial giant Caterpillar Inc., has locked out its Lomdon-based workers.
The Harper government, which permitted the company's sale to an American corporate entity through Industry Canada, remains silent on the performance guarantees given by Caterpillar as a condition of the sale.
A great beginning to 2012, one that follows a pattern well-established in 2011.
One final note: Caterpillar's earnings for the third quarter ending Sept. 30 totaled US$1.14 billion, up 44% from a year earlier.
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