I ask that all CAW members attend the next meeting of Hamilton City Council on Wednesday, February 22, 2012(5:00 pm) at 71 Main Street(City Hall). Council chambers are located on the second floor.
City Council will be debating the motion to boycott Caterpillar products and services because of their 2010 purchase and then closure of the Electro-Motive Diesel facility in London,Ontario.
Caterpillar purchased the plant with a $5 million federal subsidy. They told the Federal government that the facility was worth only $299 million but recorded the value on their financial statements as $1.3 billion – thus escaping government review for a net benefit to Canadians as required by the Canada Investment Act.
Despite being one of the most profitable corporations in the world, generating profits of $4.9 billion, the highest in its 86 year history, they still demanded a 50% cut wages and benefits. When workers refused, Caterpillar first locked them out and then shut down their plant; moving the work to a non-union plant in the United States and putting of work over 465 workers.
This lack of corporate social responsibility demands a response from individuals and communities and so Hamilton City Council will debate the following motion:
Whereas the Caterpillar Corporation has breached the Investment Canada Act, and has been subsidized by Canadian taxpayers who have been betrayed by the closure of its Caterpillar Plant in London, Ontario.
Therefore be it resolved:
That the City of Hamilton review its policy related to any business relationship with the Caterpillar Corporation and boycott Caterpillar and encourage all Hamilton, Ontario and Canadian businesses from doing business with the Caterpillar Corporation.
Peace and solidarity