Cat CFO Gives Advice on Keeping Competitive

By WEEK Reporter

November 18, 2011 Updated Nov 18, 2011 at 11:16 PM CDT

Rapp says, "There are a number of places where we used to be number one and now we're trailing. We've gone from a very competitive tax rate to one of the highest in the world. The infrastructure, I don't have to explain it, you feel it, and especially in a company like yours where you see the rest of the world.

And, on the education front, we've gone from leading the world to - in many cases-in the middle of the pack. but, as I said in the speech, I remain optimistic. We can restore U.S. to competitiveness and what I was trying to get across to the group; this isn't about waiting on Washington to do it, or someone else, it's about us all getting engaged."

And Ed Rapp said Peoria was a good place to live because people did take an active role in their community.

 

The main speaker at today's Thanksgiving luncheon was Caterpillar Group President and Chief Financial Officer Ed Rapp.

He told his audience there was a direct relationship between a county's competitiveness and its standard of living, and that the U.S. was losing its competitive edge to other countries.