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Despite tractor boom, Deere CEO wary of recovery

Deere CEO Samuel Allen. (AP/Deere)

Federal Reserve officials are correct to worry more about stimulating the U.S. economy than about inflationary price pressures bubbling in the fuel and food sectors, the chairman and chief executive of Deere & Co. said Tuesday.

In an interview, Samuel R. Allen said he worries about the strength of the U.S. recovery even though the farm equipment giant he leads is reaping the benefits of a global farming boom he expects to continue for years. Get the full story »

Caterpillar CEO sees compensation quadruple

Caterpillar CEO Douglas Oberhelman. (Andrew Harrer/Bloomberg)

An Associated Press review has found that Caterpillar quadrupled CEO Doug Oberhelman’s compensation last year when he took over the top job, but his $10.4 million package was less than half what the retiring chief executive received.

Oberhelman became CEO last summer and added the chairman title later after Jim Owens retired. Owens’ compensation more than tripled in 2010 to $22.5 million, mostly from a stock grant worth $16 million. Get the full story »

Caterpillar buys Balfour’s UK trackwork business

U.S. heavy machinery maker Caterpillar will buy Balfour Beatty Plc.’s trackwork manufacturing business that makes rail switches and crossings, Balfour said on Friday. Get the full story »

Graco to pay $650M for unit of Illinois Tool Works

Graco Inc. said Thursday that it agreed to pay $650 million in cash for Illinois Tool Works Inc.’s finishing businesses. Get the full story »

Local private equity firms raise funds, invest

It has been a busy day for a couple of Chicago private equity firms.

Chicago-based buyout firm Waud Capital has closed its third fund, receiving $463 million in commitments from new and existing investors. Its initial goal was $350 million. Get the full story »

Illinois, Chicago to assist with Finkl plant

Chicago-based steel manufacturer A. Finkl & Sons Co. will invest $150 million to build a manufacturing campus on the South Side, backed by $30.3 million in subsidies from the city of Chicago and Illinois. Get the full story »

WMS Industries shares fall 9% on lower Q3

Slot machine maker WMS Industries forecast a weak third quarter that fell short of analysts’ estimates, as demand fell, sending shares down 9 percent after the bell. Get the full story »

Caterpillar CEO: Company staying in Ill. for now

Caterpillar CEO Doug Oberhelman at a panel at the U.S. Export-Import Bank in Washington, D.C., March 31, 2011. (Andrew Harrer/Bloomberg)

Caterpillar Inc. leader Douglas Oberhelman emerged from a one-hour meeting with Gov. Pat Quinn Tuesday morning, assuring that the Peoria-based manufacturing titan intends to stay put and help push for improvements in the state’s business climate. Get the full story »

Brunswick: Chinese yacht sales to grow 25% in ‘11

From Bloomberg News | Brunswick Corp., owner of the Boston Whaler and Sea Ray brands, forecasts sales growth of 25 percent in China this year as boating gains popularity, Chief Executive Officer Dustan McCoy said. Get the full story>>

MAT Holdings buys Tennessee operation

From The Jackson Sun | Long Grove-based MAT Holdings has bought the air compressor, generator and pressure washer manufacturing arm of  Stanley Black & Decker based in Jackson, Tenn. MAT will add the operation to its Power Equipment Group. Terms were not disclosed.

Caterpillar CEO: No plans to leave Illinois

Caterpillar CEO Douglas Oberhelman speaks at a conference hosted by the U.S. Chamber of Commerce in Washington, D.C., March 30, 2011. (Andrew Harrer/Bloomberg)

News reports that Peoria-based Caterpillar Inc. was thinking of exiting Illinois were misleading, Doug Oberhelman, chairman and chief executive of the construction and mining machine maker, said Wednesday.

The media read too much into his recent letter to Illinois Gov. Pat Quinn, he said. Get the full story »

Nebraska comes calling for Caterpillar

Nebraska Gov. Dave Heineman is one of the people trying to persuade Caterpillar to move the headquarters of its mining and construction equipment business out of Illinois. Get the full story »

Outperform rating lifts Brunswick stock

Stock in Brunswick Corp. rose more than 6 percent in late afternoon trading Friday after Wedbush initiated coverage of it with a stock-investment rating of outperform. Get the full story »

Mazda suspends orders from U.S. dealers

Mazda Motor Corp. suspended U.S. dealer orders for vehicles built in Japan until further notice because of parts supply disruptions caused by the earthquake and tsunami earlier this month, a company spokesman said. Get the full story »

GM to resume truck production in Louisiana

General Motors Co. will resume production at its pickup truck plant in Louisiana next week as well as its engine plant in upstate New York, saying only it had the parts it needed to support output. Get the full story »