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Monmouth College Accounting Society |
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On Friday, April 27, 2007, 12 members from the Accounting Society visited Caterpillar's (Cat) world headquarters located in Peoria, IL. Caterpillar, a Fortune 100 company whose stock is tracked in the Dow Jones Industrial Average, is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and a wide and growing offering of related services. Caterpillar products and components are manufactured in 50 U.S. facilities and in over 60 other locations, in 23 countries around the globe. President George W. Bush visited Caterpillar's East Peoria facility on January 30, 2007. CEO and Chairman, Jim Owens, stresses the "Three Ps" at Cat: profitable growth, performance through 6 Sigma, and people. In 2006, sales and revenues amounted to $41.517 billion with a record profit of $3.537 billion, or $5.17 per share, up 28 percent from 2005. The company also reported a record fourth quarter with sales and revenues of $11.003 billion and profit of $882 million, or $1.32 per share, up 10 percent from last year. This success is due to lean manufacturing and the 6 Sigma methodology, a quality improvement tool. Cat predicts 2020 sales and revenues to be $100 billion. The agenda for the trip included introductions by Caterpillar employees and MC alums, several presentations about Caterpillar's operations and hiring process, lunch in the executive dining room, and a tour of the track-type tractor facility (Building SS). Nancy Gates went into detail about Cat's hiring process for interns and full-time employees. In 2006, there was a total of 70 interns; 29 were interviewed for full-time positions and 26 received an offer. Of those 26, 18 interns accepted the offer. The Accounting/Finance Division employs approximately 1,200 people worldwide with 700 in the U.S. Employees can be placed in several different positions: Financial Accounting, Cost/Commodity Accounting, Tax, Financial Systems, Auditing, or Research & Development Accounting. The Accounting Society would like
to congratulate the following members on their internship or
full-time employment offers with Cat: The Executive Board would like to thank Mr. Ty Riley, Campus Recruiting Coordinator, for putting together the visit. Mr. Riley attended Metamora High School and then Illinois State University. He began his career at Allied Welding, a supplier to Cat before moving onto Clifton Gunderson LLC in Peoria. In 2001, he joined the Cat team. Mr. Riley is in charge of recruiting interns and full-time employees for the Global Finance and Strategic Support Division. We would also like to thank Nancy Gates, Michelle DeVore, Danielle Mackie, Jessica Johnston, Jennifer Wright, and Marc S. (tour guide) for taking time out of their busy schedules to meet with us.
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Monmouth College Webmaster: Julie Trac |
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