With the recent news of Caterpillar’s Peoria, Illinois offices being raided by federal authorities, the company’s ConExpo-Con/Agg press conference today was less than typical. While usually the company would be touting its new products to business-to-business press editors, Cat CEO Jim Umpleby found himself facing tough questions from national mainstream media, including The Wall Street Journal, CNBC and Bloomberg. Umpleby says the company had been cooperating with the authorities and were therefore surprised by the raids.
In regard to its ConExpo-Con/Agg presence, Cat is showing 40 machines in 60,000 sq. ft. of exhibit space. Eight of the machines, says the company, are making their first public appearance.
