The Wall Street Journal reports that the U.S. District Court for Central Illinois is investigating the movement of cash within Caterpillar’s U.S. and international branches. Caterpillar received a grand jury subpoena on January 8th and claims to be cooperating with the investigation.
Video: The Permanent Subcommittee on Investigation announces a hearing on “Caterpillar’s Offshore Tax Strategy” scheduled for Tuesday, April 1, 2014.
Zero Hedge reports,
“Caterpillar just reported that in January, it suffered its worst retail sales month since Lehman, with global sales plunging 14% from last January (when sales in turn had dropped 8% from a year before, while the year before had slid 3% from the year before that and so on).”
(Source: Caterpillar’s Retail Statistics)