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Tag: recession
Business
How long will it take for construction to recover from the coronavirus?
It may take at least 18 months for contractors to see a complete reconstruction of what was to be in 2020, before the outbreak of the coronavirus pandemic. But there is some good news, says Anirban Basu, chief economist, Associated Builders and Contractors. “It will be the shortest recession in history,” he declares. “By the […]
May 15, 2020
Business
Dodge economist: Recession rebound will begin this summer after painful 2nd quarter impact from coronavirus
Richard Branch, chief economist for Dodge Data & Analytics, predicts the U.S. economy and the construction industry will start to bounce back in early summer.
April 15, 2020
Business
Slower growth but no recession near, predicts latest cement industry forecast
According to the Portland Cement Association, cement consumption in the U.S. is expected to grow through 2021 at a slow pace. More details on Equipment World.
October 29, 2019
Dealers
Strong construction market to continue with rising equipment sales, no recession, reports Wells Fargo
Wells Fargo is predicting another strong year for the heavy equipment and construction industries. Get more information on the report here on Equipment World.
March 1, 2019
Dealers
Recession weary heavy equipment buyers flock to rental, RPOs to lower risk
“Our views haven’t changed drastically when it comes to buying new equipment,” says Al Gorick, president Gorick Construction, Binghamton, New York. “We have always tried to make purchasing decisions based on projected utilization, and when a good value presents itself.” Still others, such as G. W. Tatro Construction of Jeffersonville, Vermont, didn’t have much of […]
July 26, 2016
Business
Is the golden age of underground construction upon us?
During the Great Recession, one phrase reached cliché status: “this is the new normal.” In other words, suck it up, things will never be as good as they once were. Get used to diminished returns and don’t dwell on what used to be. So it tends to give you pause when Chris Daum, senior managing […]
June 25, 2015
Business
After 40 years in business, Savannah firm J.T. Turner Construction to cease operations
In announcing that Savannah-based firm J.T. Turner Construction Co. Inc. is closing its doors, founder Jim Turner said his company is the latest victim of the recent economic recession. According to a report from the Savannah Morning News, the company suffered from “reduced profit margins in an increasingly competitive environment, as well as investment in several failed […]
March 16, 2015
Business
Is construction “dead in the water”? Greenspan comment highlights industry’s mixed feelings about recovery
Despite many positives in the industry right now, Alan Greenspan is pointing a finger of blame in construction’s direction. According to a report from Bloomberg, Greenspan, who served as chairman of the Federal Reserve between 1987 and 2006, said Tuesday the U.S. economic rebound from the recession that ended five years ago has been held […]
September 10, 2014
Business
Minnesota construction firms likely need to boost pay, reduce expectations to find enough workers to meet demand
Construction is Minnesota’s fastest growing industry, and as demand continues to pile up, construction firms there are having a hard time finding enough skilled workers. And one labor analyst suggests they might need to make some serious changes to fill those vacancies. According to a report from Minnesota Public Radio, the skilled trades in Minnesota […]
May 27, 2014
Business
Colorado contractors say “huge shortage of tradesmen” is severely impacting business
Contractors in Colorado say that while there is plenty of work to go around, they are falling behind on jobs they have while unable to take on new jobs due to a serious shortage of skilled workers in the state. Doug Dohn of Dohn Construction in Fort Collins told the Coloradoan that none of his current […]
May 7, 2014
Business
How 5 construction companies are passing the baton to the next generation
[Editor’s Note: This is Part Two in a four-part series chronicling the stories of contractors who are making hard choices about their end game in the business: liquidate? Sell to family or employees? Seek a third party buyer?] [Editor’s Note II: The names in the article below have been changed due to the personal nature of […]
February 4, 2014
Business
How to choose who to sell your construction company to and when
[Editor’s Note: This is Part Four in a four-part series chronicling the stories of real contractors who are making hard choices about their end game in the business: liquidate? Sell to family or employees? Seek a third party buyer?] Stever Robbins, executive coach with Stever Robbins Incorporated, says assuming you’ll pass your business along to your […]
February 4, 2014
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