$Stock*Shop*Charts*News*Option$

[CohibaMan]

Talks suspended between Caterpillar, Milwaukee workers' union



12:14am EDT

(Reuters) - Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) said Thursday that a bid by the United Steelworkers Union to re-open contract talks on behalf of workers in Milwaukee who make mining machinery had not resulted in a breakthrough and that no new meetings between the two sides were scheduled.

The existing contract, which covers 800 workers that Caterpillar inherited with its 2010 purchase of Bucyrus, expired on April 30.

Last week, those workers rejected a proposed new contract offered by the company that, among other things, would have frozen wages for existing workers in the Milwaukee bargaining unit and created a second, lower-tier wage level for newer hires.

While apparently far apart, neither side appears poised for a showdown. The workers, who make giant mining shovels and draglines that dwarf much of the other heavy equipment Caterpillar makes, have said they will continue to report for work under the existing contract.


MORE - http://www.reuters.com/article/2013/05/10/us-caterpillar-union-idUSBRE94904520130510?feedType=RSS&feedName=businessNews