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Business: Page 108
Business
Not even Caterpillar can escape Donald Trump’s disses
In perhaps a prime example of just how far Donald Trump will reach to underscore his “Make America Great Again” slogan, the Republican presidential candidate has called out Caterpillar’s recent financial performance as evidence of how far the country has apparently fallen. “People are buying Komatsu tractors instead of Caterpillar tractors. I’m telling you, we’re in […]
August 19, 2015
Business
Bobcat, Doosan break ground on $9.5 million expansion of West Fargo HQ (PHOTOS, VIDEO)
Company executives and a fleet of Bobcat buckets recently broke ground on a $9.5 million expansion of the Bobcat/Doosan North America headquarters. In a video from the event, Rich Goldsbury, president of Bobcat and Doosan North America, explained that the companies had simply outgrown their current headquarters, built in 2000 in West Fargo, North Dakota. “This […]
August 19, 2015
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August 4, 2025
Business
Home starts up 0.2% in July as single-family gains offset big drop in apartments
A jump in single-family home construction starts offset a big drop for apartments as total U.S. home starts edged slightly upward in July. Construction on new homes rose 0.2 percent in July to a rate of 1.206 million and is up 10.1 percent from July 2014, according to preliminary data from the Commerce Department. Homes […]
August 18, 2015
Business
New survey, hotel developers the latest severe signifiers of construction’s labor shortage
In addition to the industry surveys and anecdotal evidence from states and projects all over the country, you can add two more examples to the group of sources pointing to the shortage of skilled labor impacting the U.S. construction industry. Joining an Associated General Contractors of American survey last fall which found that 83 percent of […]
August 13, 2015
Business
Terex to merge with Finnish manufacturer Konecranes
Cranes and heavy equipment manufacturer Terex will merge with Finnish competitor Konecranes in an all-share deal, the companies announced in a joint release Tuesday. The new company will be called Konecranes Terex and will be based out of Finland. It is expected to bring in $10 billion in revenues and allow both companies to fight […]
August 11, 2015
Business
R.J. Allen made emissions regs work for them and now this California contractor doesn’t chase work
Andrew – or Andy – Allen chuckles when asked how he got his start in construction. “I guess you could say I was born and raised in the company,” he says about the firm his parents founded. Allen started in the company shop, cleaning and maintaining equipment, and then operating it. Although he took some […]
August 11, 2015
Business
POLL: Which Presidential candidate would best run a construction company?
Gridlock prevails in our federal government. The highway bill has been stuck in limbo for five years. There are shutdowns, filibusters, walkouts, unseen procedural trickeration. Spending and deficits are through the roof. If this were a construction company no work would ever get done. What we need is a president who can get things done, […]
August 7, 2015
Business
Construction adds 6,000 jobs in July; unemployment falls to 8-year low
Following a flat June, the U.S. construction industry saw a small increase in employment in July. According to preliminary data from the Labor Department, construction employment rose by 6,000 jobs during the month, most likely due to increased home sales. The industry now employs 6.383 million Americans. The sector’s unemployment rate fell again in July, this time down […]
August 7, 2015
Business
Contractor of the Year contest honors industry’s best; nominations due Oct. 2nd
The Equipment World Contractor of the Year contest is now open for nominations. The program honors 12 finalists each year, sending them and their guests to Las Vegas for a weekend that includes an industry roundtable, focus group, awards banquet and a day at the Las Vegas Motor Speedway watching the NASCAR Kobalt 400. All […]
August 6, 2015
Business
CNH Industrial sales fall 10%, profit plummets in 2Q
CNH’s continued struggles with the global agricultural slowdown continued in the second quarter, compounded by decreased construction equipment sales. The company, manufacturer of the Case Construction and New Holland equipment brands, reported sales and revenues of $7 billion, down 10 percent from the same period in 2014. Profit plummeted 236 percent to $122 million. For the […]
August 4, 2015
Business
Construction spending inches up 0.1% in June
With no change to nonresidential spending, total construction spending in the U.S. saw its smallest gain in five months, according to preliminary estimates from the Commerce Department. The primary fuel for the industry’s huge spending growth in the last year or so has been nonresidential which was flat this month at $687 billion. Residential, meanwhile, […]
August 4, 2015
Dealers
Liebherr celebrates distribution evolution, Manitou launches new website and more in the latest Dealer and Manufacturing Roundup
Applied Machinery expands with new office location Applied Machinery Sales is expanding with a new office location in Rock Hill, South Carolina. This new location has nearly 48,000 square feet of space and will support their growing dealer network. The new facility will house the company’s parts and attachments inventory, handle daily orders and provide […]
July 31, 2015
Business
Caterpillar will continue using Navistar engines in vocational truck line despite production split
Caterpillar has decided to amicably end its on-highway truck production partnership with Navistar and venture out on its own, moving production of the Cat CT-Series trucks, which The Wall Street Journal estimates to be about 1,000 units a year, to a shared production facility in Victoria, Texas. The plant currently produces Caterpillar hydraulic excavators and will add about 200 additional […]
July 29, 2015
Business
Caterpillar splits with Navistar, will design and build its own vocational trucks in Texas
Caterpillar has announced a parting of ways with truck maker Navistar, ending a six-year partnership between the two companies that launched the Cat brand into the vocational truck market. MORE >> Navistar to launch new line of severe duty work trucks once split with Cat is complete Cat has worked with Navistar to design and build […]
July 28, 2015
Business
Navistar to launch new line of severe duty work trucks once split with Cat is complete
With Caterpillar’s announcement this morning that it would begin designing and building vocational trucks on its own, Navistar, Cat’s partner in the work truck business up to this point, has announced plans to launch a new line of trucks once the partnership has officially concluded. In a brief announcement released alongside Cat’s news, Navistar said it would […]
July 28, 2015
Business
Caterpillar’s call for engagement with Cuba more than just a sly business move
Early this week Caterpillar sent out a press release calling for an end to the trade embargo against Cuba. This was in response to President Obama’s easing of sanctions and the announcement of an American embassy to be built in Havana. All of this is good news for Cuba and for us, and it demonstrates […]
July 24, 2015
Dealers
Terex launches used truck website and more in the latest Dealer and Manufacturing Roundup
Terex Trucks launches Used Trucks website Terex Trucks has partnered with Machinery Trader to develop a used trucks website which enables dealers to upload and advertise pre-owned trucks and construction equipment. Features on the website include an equipment search function, a dealer locator and a tool to receive free shipping and financing quotes. The new tool follows […]
July 24, 2015
Business
Caterpillar profits fall 29% in 2Q as company cuts full-year forecast
A continued and severe lack of demand for mining equipment worldwide, coupled with lower construction equipment sales in China and Brazil brought Caterpillar sales and profits down during the second quarter. In earnings released Thursday the company reported a decrease in sales and revenues of 13 percent to $12.3 billion and a 29-percent profit loss […]
July 23, 2015
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