Caterpillar Inc. Strike Continues Amid Record Profits

by David Schaper, NPR

Illinois-based Caterpillar Inc. reported soaring second-quarter profits amid growing demand for its heavy construction and mining equipment, and it's on pace for record profits for the year. But three months into a strike by hundreds of workers at a suburban Chicago plant, Cat refuses to sweeten the "last, best offer" that would freeze pay, reduce pension benefits and increase health care costs. The CEO says Cat is ready to cut costs even more if the economy should weaken.

Broadcast Dates

• Morning Edition, July 26, 2012