Caterpillar (CAT) is already likely to be a big winner from Obama’s infrastructure push, and now it looks like they’ll have a close friend in the administration. Word is that retiring Illinois Republican rep. Ray LaHood will be named head of the Department of Transportation:
Pit & Quarry Blog: LaHood represents Peoria, headquarters of Caterpillar, a good-karma move on Obama’s part as he prepares to launch an ambitious public-works program, with an emphasis on road and bridge construction
Obama, in choosing a republican to head transportation, returns the favour of the Bush administration, which chose Norm Mineta, a democrat, for the same post eight years ago. LaHood is a former member of the House Transportation Committee, and more recently has been a member of the influential House Appropriations Committee. LaHood has a record of supporting funding for Amtrak and public transit.
It’s not too surprising that LaHood would serve in a Democratic administration. He well known for having been a rare Republican not to have signed New Gingrich’s Contract With America back in 1994.