Underperformance a Product of Values Collapse - Senior Manager Caterpillar Employee Review

* Executive office has repeatedly demonstrated critical knowledge gaps in driving shareholder value. It is not about financial wizardry. It is about understanding critical cause-effect relationships (the anticipation of consequences), organizational alignment with strategic imperatives, and consistent application of company values--which have taken a major hit in recent years. * A disastrous record of acquisitions. Oberhelman has just about zero street cred on this. Between Bucyrus (32% premium at top of commodity cycle), ERA/Siwei (unbelievably poor diligence) and Lovat (never really understood the business), the company has squandered billions. The ERA/Siwei acquisition (85% write-off) may go down in history of one of the poorest and dumbest acquisitions ever by a U.S. company. * A culture of deceit and suppression of objective truth among senior leaders when it does not comport with personal ambitions and preservation of their total compensation packages. * Political gamesmanship should be negligible, but is significant and pervasive. * A culture in which questionable business practices are tacitly allowed, such as the $74M judgment against Caterpillar for illegally appropriating technology from a supplier (Miller U.K. Ltd). * For the first time in company history, four consecutive years of revenue declines. * Almost perpetual "reorganization" regularly breaks the "neural network" that supports how real work gets done. * "Reorganizations" that give legal cover to jettison long service employees at or near salary cap and those who would otherwise by covered by ADA law. The company may think they are being clever. They are not. * Loyalty is now largely a one-way street. Those who have made major contributions to the company over many years are now subject to immediate termination when expedient for short-term budget games.