April 1, 2014 at 2:41 pm
A Times business section article runs under the headline "Senate Report Says Caterpillar Used Swiss Subsidiary To Reduce Taxes." It begins:
Caterpillar, the big American maker of heavy construction and mining equipment, used a subsidiary in Switzerland to avoid paying $2.4 billion of income taxes over 13 years, according to a Senate investigative report released on Monday.
No mention at all in the Times article of the company's ties during that period with President Obama. As FutureOfCapitalism reported back in 2011:
If one had to name a company that was one of President Obama's favorites, Caterpillar would have to be high on the list. On February 6, 2009, Mr. Obama named the company's chairman and CEO, Jim Owens, to his Economic Recovery Advisory Board. On February 12, 2009, Mr. Obama flew with Mr. Owens aboard Air Force One to Caterpillar's headquarters to tout the stimulus bill. On November 24, 2009, Mr. Owens and his wife were invited guests at Mr. Obama's first state dinner at the White House, in honor of Prime Minister Singh of India. On February 7, 2011, Mr. Obama praised the company, which is based in the president's home state of Illinois, in a speech to the Chamber of Commerce.
Related Topics: Politics, Taxes
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