chairman and ceo doug oberhelman says it's been a difficult year. he'll join us. raised full year forecast and increased plan dream lieper production schedule. drug maker eli lilly revenue came in inline with expectations. right now need to look at markets this morning. we looked at weaknesses in the futures. dow down 75 points. most because of what happened in china overnight. change high come positisitive s. in europe weighing in on the markets. france down 1%. gains for dax. >> dow numbers are down. cat pillar is down. boeing offsetting that. caterpillar posted earnings below wall street expectations. joining us now to talk about the results caterpillar chairman and ceo doug oberhelman, in terms of operating environment and caterpillar, this has been the toughest year in your tenner, no doubt about it. >> there's no question. this has been a tough and painful year. i'll be glad to see it go at the end of the year. having said that, we're getting the opportunity to take a lot of cost out, work on internal. when you lose $11 billion off the top line, it's lard to

ceo doug oberhelman was on "squawk box" this morning. >> i've seen cycles over my 39 years. this one is pretty acute in mining. the rest of the business is hanging in there. >> jim, he said it's been a tough year, he'll be glad to see it go, he's still bullish, long term on mining but he doesn't know if it's this year, next year, five years, ten years. not a great, reassuring message by observ by oberhelman this morning. >> a third of the job cuts have happened in the united states, their projection for revenue for 2014 is up 5%, maybe down 5%. doesn't look like next year is the term. >> no, it doesn't. and this seems to be a growing perhaps disillusionment with management at this point. you haven't mentioned the foray into china that jim has spoken with. jim, you're back with us. tale of two companies here. interesting we get boeing and caterpillar because you have made a point talking about both of this many going into different directions for some times. >> jim mcnerney, ceo of boeing, completely in the zone. this is a multi-year super cycle. he's already increasing the m