Caterpillar annual report details rocky 2008

04/28/2009 | Peoria Journal Star (Ill.)

Caterpillar grew from 2004 through the first three quarters of 2008, at which time it experienced a "seismic shift" as orders plummeted, according to the company's annual report. "Frankly, there hasn't been a time during my 35 years at Caterpillar when so many factors that affect our business changed so quickly and dramatically," said Jim Owens, company chairman. The global credit market crisis and drop in commodity prices affected Caterpillar's customers worldwide.

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Peoria Journal Star (Ill.)

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