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Business: Page 104
Business
Caterpillar sales down again in 3Q as profit plummets 48%
Citing economic weakness and idle mining trucks around the globe coupled with an “abundance” of used construction equipment and idle locomotives in North America, Caterpillar reported another down period for earnings today. With total sales falling 16 percent to $9.16 billion in the third quarter and profit plummeting 48 percent to $481 million, the world’s no. 1 […]
October 25, 2016
Business
Massive earthmover tire explosion shows why you should cage ’em before you inflate ’em
While being within 10 feet of this explosion means you’re going to have a bad time regardless, this incredible video from the folks at Ken-Tool shows how having a tire inflation cage can save your life or livelihood. In the video below, Ken-Tool’s 10-bar EarthMover tire inflation cage is put through OSHA certification explosion testing. […]
October 19, 2016
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February 1, 2026
Business
U.S. home starts drop 9% in September on big drop in multi-family
Despite a jump in single-family starts, overall construction starts on new homes in the U.S. fell for a second consecutive month in September, dropping 9 percent to a seasonally-adjusted annual rate of 1.047 million homes. Home starts are down 12 percent from the September 2015 rate, according to preliminary data from the Commerce Department. An 8.1-percent […]
October 19, 2016
Business
Caterpillar CEO Doug Oberhelman to retire next year; Umpleby tapped as successor
Caterpillar chairman and chief executive officer Doug Oberhelman has announced that he will retire next year, bringing an end to a 41-year career with the company. Caterpillar has announced successors for both the CEO post and Oberhelman’s role at the head of the board. Oberhelman will oversee the company and its board until March 31, […]
October 17, 2016
Business
Contractor of the Year entry deadline extended to Oct. 14
The deadline for nominations for the Equipment World Contractor of the Year contest, which honors 12 finalists each year, has been extended. Contractors and peers who wish to nominate them now have until October 14, 2016, to apply to the program. To enter, go to Equipment World’s Contractor of the Year page, and click on the “Apply Now” […]
October 6, 2016
Business
Construction spending falls 0.7% in August
U.S. construction spending fell 0.7 percent in August as spending on both residential and nonresidential projects fell during the month. Construction spending is at a seasonally-adjusted annual rate of $1.142 trillion, according to preliminary data from the Commerce Department. With the August decrease, the spending rate has fallen 0.3 percent below the August 2015 rate. Spending in the private […]
October 3, 2016
Business
Komatsu, Joy Global CEOs talk merger at MINExpo meeting
In an already busy week for Komatsu at the MINExpo show in Las Vegas that included the unveiling of a fully-autonomous haul truck and even a wedding, the company found time to also tout its pending acquisition of Wisconsin-based surface and underground mining equipment manufacturer Joy Global. On the show floor, Komatsu president and CEO […]
September 29, 2016
Dealers
Caterpillar execs stress confidence in long-term health of mining, despite present depths
Topmost in the mining industry’s mind are these two questions: “Have we hit the bottom of the mining cycle? Is it possible there will be a slight upturn in 2017?” “While there are some definitely optimistic signs that we are at the bottom, we’re still not seeing it in sales.” says Denise Johnson, Caterpillar group […]
September 26, 2016
Dealers
Caterpillar, dealers to invest $1 billion to expand footprint, workforce training throughout Africa
Caterpillar has announced plans to expand its footprint and workforce development program in countries throughout Africa through a $1 billion investment over the next five years. In addition to improving the company’s parts distribution capacity across the continent and building new Certified Rebuild Centers, the investment will add new dealer branch locations and expand the […]
September 22, 2016
Business
Builder confidence jumps in August despite 5.8% drop in home starts
The start of construction on homes in the U.S. fell 5.8 percent during August to a seasonally adjusted annual rate of 1.142 million, according to preliminary data from the Commerce Department. Declines in both single- and multi-family housing units brought on the monthly decline. However the rate remains 0.9 percent above the August 2015 figure. […]
September 20, 2016
Contractor of the Year
Training up younger workers, diversification at heart of GMP Contracting’s passion for the work
Building something from nothing is in Joe Porchetta’s blood. The son of an Italian immigrant who watched his father and grandfather build a life in a new country by starting a curb and sidewalk company, Porchetta got his first experience in construction at around 9 or 10 years old. Though his father passed away when […]
September 16, 2016
Business
Construction time clock app busybusy adds Quickbooks integration
Busybusy, a digital time clock app developed specifically for the construction industry, has been updated with Quickbooks integration. The app, which provides construction companies with a quick transition to digital time sheets by allowing workers to clock in at the jobsite from their iPhone or Android device, previously required firms to export that time sheet data from […]
September 15, 2016
Business
CNH Industrial taps Göransson as president of Case, New Holland construction equipment
CNH Industrial has named a new president for the company’s Case and New Holland construction equipment divisions. Twenty-five-year industry veteran Carl Gustaf Göransson has been named construction brand president for Case and New Holland as well as president of CNH’s construction equipment products segment. He will also sit on CNH’s Group Executive Council, a decision-making […]
September 8, 2016
Business
Nominate your best for AEMP’s Technician of the Year Award; deadline Sept. 15
Everybody complains about the shortage of qualified technicians in the construction industry. So let me ask you a question: How many of you do anything to recognize or reward the technicians you have? For all the griping about the labor shortage, there are few fleet managers or construction companies that do the most important thing […]
September 7, 2016
Business
Volkswagen buys stake in Navistar to share advanced powertrains and autonomous tech
At the crack of dawn this morning, Navistar announced a plan to pursue a strategic alliance with Volkswagen Truck and Bus, which includes an equity investment in Navistar by Volkswagen, agreements for technology and supply collaboration and a procurement joint venture. Under the terms of the agreement, Volkswagen will take a 16.6-percent stake in Navistar, […]
September 6, 2016
Business
Construction spending flat in July as nonresidential dip wipes out residential gain
U.S. construction spending was flat for the month of July at an estimated annual rate of $1.153 trillion, according to preliminary data from the Commerce Department. An 0.3-percent decrease in nonresidential spending wiped out most of an 0.4-percent increase in residential during the month. Total construction spending remains up 1.5 percent over the July 2015 mark. […]
September 1, 2016
Business
Construction’s labor shortage easing? U.S. firms reporting trouble finding skilled workers falls to 69%
For the first time in the last four years, the percentage of U.S. construction firms reporting trouble filling hourly craft positions has fallen. However, contractors don’t seem to think things are getting much better. According to the latest national survey by the Associated General Contractors of America, 69 percent of U.S. firms polled said they […]
August 31, 2016
Dealers
Ritchie Bros. to acquire online equipment auctioneer IronPlanet for $758.5 million
Announced late Monday evening, the auction giant Ritchie Bros. is acquiring internet-based auction company IronPlanet for approximately $758.5 million. The deal is Ritchie Bros. second acquisition this month following an August 2 announcement that the company would buy New England-based Petrowsky Auctioneers for $7 million. IronPlanet burst onto the heavy equipment auction scene in 1999 […]
August 29, 2016
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