I've been watching the business scene for about as long as any of my Foolish colleagues. That provides an interesting perspective: I can appreciate more readily than most the breakneck pace at which the world of business and finance is being globalized.
On Thursday, for instance, Caterpillar
Indeed, demand for Caterpillar's machinery, engines, and related products is so strong in China and other developing nations that -- in the face of a slowdown in the U.S., western Europe, and Japan -- the company is predicting record sales and earnings for the year. It has so many orders for heavy mining and power generation equipment in Asia that CEO James Owens says his company is pretty much sold out there into 2010. In addition, it's also doing well in India, Russia, and the Middle East.
But it's not only Caterpillar that's moving nimbly around the globe. Fellow equipment maker Deere
Even the struggling automakers are spreading their money worldwide. General Motors
But to my mind, it's clearly Caterpillar that's turning in the most impressive performance amid an uneven global economy that's roaring in some places and snoozing in others. The Peoria-based company obviously is playing well in lots of places beyond its hometown.
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