Catepillar Moving HDQS to Texas

[Bob Dylan]

Per a story in the Dallas Morning News( behind a Pay Wall) the Caterpillar Corp. will be moving its Headquarters from Suburban Chicago(Deerfield) to Irving,Texas ( part of the DFW Metroplex) " to be able to better serve their International Customers."

According to Texas Governor Greg Abbott, they are not receiving any Financial Incentives for the move.

Caterpillar had moved its long Time Headquarters from Peoria,I'll. to Chicago, and follows Boeing in leaving the Windy City.

 

[Steel City Don]

Per a story in the Dallas Morning News( behind a Pay Wall) the Caterpillar Corp. will be moving its Headquarters from Suburban Chicago(Deerfield) to Irving,Texas ( part of the DFW Metroplex) " to be able to better serve their International Customers."

According to Texas Governor Greg Abbott, they are not receiving any Financial Incentives for the move.

Caterpillar had moved its long Time Headquarters from Peoria,I'll. to Chicago, and follows Boeing in leaving the Windy City.

When I lived in Illinois I lived in the town where their corporate headquarters is, morton, if they move from there that's going to hurt that town..

 

[Everydaymatters]

When I lived in Illinois I lived in the town where their corporate headquarters is, morton, if they move from there that's going to hurt that town..

I was in Morton earlier this week. They have the Nestle plant and Cat was still humming along with a full parking lot. The Cat white collar workers will move, but much of their manufacturing is done here in Central Illinois.

 

[railiner]

No financial incentive to move? That seems strange in view of what other corporate moves gain…
I wonder if the crime situation could be a reason?

 

[Devil's Advocate]

No financial incentive to move? That seems strange in view of what other corporate moves gain…
I wonder if the crime situation could be a reason?

Abbot's claim of no incentives was worded so oddly that I would take it with a grain of salt. It seems that he's including stilted qualifiers for a reason. Who knows what will come out when he's gone.

 

[Ziv]

No financial incentive to move? That seems strange in view of what other corporate moves gain…
I wonder if the crime situation could be a reason?

Not sure about financial "pulls" towards places other than Chicago, but there seems to be a "push" for companies to move out of the Chicago area. Citadel left for Florida and Boeing left for northern Virginia fairly recently. Crime in Chicago may be part of it, but it isn't the whole story.

 

[Metra Electric Rider]

It's been my understanding that a lot of corporate relocations (head office type facilities in particular) are largely by where the executives in power want to live and they will steer the corporate relocation to that location. I don't know how true this portion is, but I've also heard that the various financial packages offered are essentially icing on the cake for a decision already made.

 

[cirdan]

I find it odd that corporations seek to move their headquarters away from their production.

Any restaurant owner or small businessman will tell you, keeping your ear to the ground and knowing what's going on and especially knowing what your people are doing is absolutely vital to remaining in control and steering the company in the direction you want.

 

[Ziv]

I find it odd that corporations seek to move their headquarters away from their production.

Any restaurant owner or small businessman will tell you, keeping your ear to the ground and knowing what's going on and especially knowing what your people are doing is absolutely vital to remaining in control and steering the company in the direction you want.

“Management by walking around” was how my Business Management prof described it. I think Boeing’s management team lost their ability to use that technique when they moved their HQ to Chicago and they definitely won’t get it back by moving the HQ to Virginia.

 

[Steel City Don]

I was in Morton earlier this week. They have the Nestle plant and Cat was still humming along with a full parking lot. The Cat white collar workers will move, but much of their manufacturing is done here in Central Illinois.

That's good to hear, cuz that's the two major Staples right there for that town!

 

[MikefromCrete]

Not sure about financial "pulls" towards places other than Chicago, but there seems to be a "push" for companies to move out of the Chicago area. Citadel left for Florida and Boeing left for northern Virginia fairly recently. Crime in Chicago may be part of it, but it isn't the whole story.

Citadel is owned by Ken Griffen, often described as the "richest man in Illinois." He was also the major financier of the Republican party in Illinois. When his hand picked candidate for governor lost badly in the primary to an extreme conservative (actually he came in third, losing to two conservatives), Griffen packed up his bags and moved to Florida. He's been selling off a number very high priced condos in Chicago and apparently not funding any Republican candidates in the general election.
Incumbent Democratic Gov. Pritzger, another very rich guy, is basically self funding his own campaign as well as many other Democratic candidates for state office.
So, Citadel moving out of Illinois is more a matter of spite than anything.

As far as Boeing is concerned, their "inducement" money is running out and they went looking for greener pastures.

Not sure about financial "pulls" towards places other than Chicago, but there seems to be a "push" for companies to move out of the Chicago area. Citadel left for Florida and Boeing left for northern Virginia fairly recently. Crime in Chicago may be part of it, but it isn't the whole story.

 

[PaTrainFan]

MANY years ago, I am talking 80s, rumor was that Firestone moved their corporate headquarters from Akron to Chicago because the new CEO's wife refused to live in Akron. Years later, under yet another CEO, headquarters were moved back to Akron. And in the 2000s, Alcoa moved its headquarters to New York because the CEO, who was French, wanted to be closer to his home in France. In the latter instance, the move affected only about 40 some executives.

 

[west point]

Moving away from your operations is a formular for disaster. Central management at Amtrak is a different animal. IMO Trains should have route managers near major destinations.
1. Silvers atr Orlando
2. Crescent at ATL
3. Cardinal -- ???
4. Capitol WASH or CHI
5. LSL -- ?
6. Both Vermont at Burlington
7. Downeaster--- State is doing it as good work.
8. CNO --MEM
9. Sunset / Eagle -- DAL / SAS
10. Chief---- ABQ
11. CAL/Z - DEN
12. EB - MSP
13. CHI Regionals -- 2 or 3 persons at CHI
13. EMpire -- ALB
14. Staerlight -- OAK
15. CA both LAX & OAK