Global Growth Out of the Trough

In this Deeper Thinking series interview, Joe Maglitta, VP President and Editorial Director for Ziff Davis Enterprise, speaks with Ed Rapp, CFO of Caterpillar Inc. about how the industrial giant is forging ahead to offset an 80% drop in U.S. business in 2009. Key strategies include expansion into growing economies, notably China, expanding their physical infrastructures, ongoing contingency planning, and knowing when to “batten down the hatches and pull the trigger.”Shaped by four previous recessions, Rapp says it’s crucial for companies to know when to “batten down the hatches and pull the trigger.”He also discusses the crucial role of IT in growth, the technology-enabled worksite, reducing emissions, and what makes for an effective CIO. In addition to serving as CFO, Rapp also has responsibility for the Peoria, Ill.’s company’s Global Information Services Division, Human Services Division, Financial Services Division and several others. $59-billion Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines.