They were transferred to CSARL, the economic rights to those? Is that not true?

That was its purpose. Right?

OK. And the key contacts in Caterpillar for you were the people in the company's Tax Department. Is that correct?

No, I was asking you whether you would offer this--I thought you were making an offer right now to a third party to buy all that.

Caterpillar's Swiss strategy is not the result of conscious policymaking to support American manufacturing.

Are those not crown jewels of a company?

That is a chart we are going to put up.

All right. Thank you so much, and thank you again for being here and your cooperation with our Subcommittee.

the "unnecessary middleman" is absurd--to call Caterpillar Inc. an "unnecessary middleman is utterly absurd.

It continues to be involved with the development and oversight of worldwide marketing programs and approaches.

And this was the marketing company for Latin America, Canada, and the Caribbean?

The U.S. parent asserts, could assert that because the risk has been transferred, the offshore affiliate is entitled to the lion's share of the business profits.

Well, then let me tell you that it does, and if it is not true, you can correct for the record what I am saying.

I think it is you would not answer that no. But you can answer it no because nobody in their right mind would sell to an unrelated party what Caterpillar transferred in that license agreement for nothing.

Would you have transferred all that, all of that that was in the licensing agreement to anybody but a related party?

But wasn't the purpose to shift profits for tax purposes to a low-tax jurisdiction. Is that correct?

I think every corporate executive in the world would answer that, but you in front of this Subcommittee.

The head of this effort, the driver of this effort, the one who is going to decide whether or not a dealer stays in or is not going to be allowed to stay in is Mr. Levenick in Illinois.

I do not share that view. More importantly, neither do the Afghan people.

For a force that is very much still in its infancy, the Afghan Security Forces's performance last year--judged on its own merits--should be considered a success.

More than 8 million Afghan children are now in school, eight times as many as in 2001.

The administration has proposed we increase revenues so that we can raise the defense budget caps by $26 billion in fiscal year 2015.

It is the same story for HSBC and, frankly, for any other number of other banks that were involved in predatory transactions that hurt American citizens.

if the Swiss bank does not want to or cannot comply with U.S. law, maybe it should not do business in the United States.

Burma continues to undergo its dramatic democratic and economic transition, including the release of over 1,000 political prisoners.