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Business: Page 109
Business
Construction spending falls 0.6% in March with lone gains in nonresidential
With decreases across all sectors save for private nonresidential, U.S. construction spending fell 0.6 percent in March to a seasonally adjusted annual rate of $966.5 billion, according to preliminary estimates from the Commerce Department. Spending remained 2 percent above the March 2014 level. Total residential spending fell 1.6 percent to a rate of $354.7 billion and […]
May 5, 2015
Business
Terex sales drop 9% as 1Q results in a loss
In its earnings report for fiscal year 2014 in which the company reported a big 27-percent profit increase, Terex cautioned investors that it expected a drop in sales during a more challenging 2015. The change is already taking hold. During the first quarter of 2015, the company reports a 9-percent drop in sales to $1.5 […]
May 4, 2015
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February 1, 2025
Business
Material Tracker site matches contractors for receiving construction materials or dumping excess
In its sales pitch, Material Tracker makes a scary-good point: “Unknowingly, you may have driven past a dump site that could help save time, fuel costs and make more money.” Having too much or too little material on construction sites has just been a harsh reality of the business. Now, it’s just one more cost the […]
May 1, 2015
Business
JCB donates $1 million worth of equipment to Nepal earthquake relief effort
In order to aid in the cleanup and rescue efforts in Nepal where survivors are still reeling in the aftermath of a magnitude 7.8 earthquake that struck the country Saturday, JCB has donated more than $1 million in equipment. The company sent 10 backhoes and a fleet of electric power generators to the devastated country. […]
April 30, 2015
Business
IronPlanet taps former Army Lt. Col. to head GovPlanet military, government equipment auctions
IronPlanet has gained quite a bit of momentum in the last year with a few big deals and two new site launches. The online equipment marketplace continued its march forward today with the announcement of its third hire in the last two months. The company has named Jeff Holmes as vice president of its Government Solutions. The 20-year […]
April 29, 2015
Business
Volvo CE sees demand in China cut in half, profit plunges 46% in 1Q
Citing weak demand in China, where sales have been cut in half, Volvo Construction Equipment reported a drop in revenues and a plunge in profit for the first quarter of 2015. For the quarter, which ended March 31, total sales at Volvo CE fell 5 percent to 12.7 billion SEK ($1.5 billion). A major drop […]
April 28, 2015
Business
Despite uptick in sales, Komatsu sees fiscal year 2014 profit fall 3.5%
Increased sales in developed countries combined with the depreciation of the Japanese yen against the dollar were able to boost Komatsu’s sales numbers in fiscal year 2014, but not enough to stave off a dip in profit. According to the company’s earnings report for fiscal year 2014, ending March 31, net sales increased 1.3 percent […]
April 27, 2015
Business
ITC finds Sany guilty of infringing Manitowoc patents, bars Chinese company from selling SCC8500 in US
After making an initial ruling in favor of Manitowoc last year, the U.S. International Trade Commission has made a final judgement in favor of the company in its crane patent case against Chinese equipment manufacturer Sany. The ITC ruled Sany’s SCC8500 crawler crane violates section 337 of the Tariff Act of 1930, infringing upon one Manitowoc patent […]
April 27, 2015
Business
Caterpillar beats estimates, boosts profit 20% in 1Q despite dip in sales
Caterpillar delivered very good news for shareholders in its first quarter earnings report, with a big profit increase and an improved outlook for the rest of the year. The company reported a 20-percent boost in profit over Q1 2014 to $1.1 billion, or $1.81 per share. This was despite a 4-percent sales and revenues drop to $12.7 […]
April 24, 2015
Business
Volvo Trucks boots Persson, names chief of rival Scania as new CEO
Volvo Group has dismissed Olof Persson as its president and chief executive, the company announced Wednesday. It also announced it plans to hire Scania boss Martin Lundstedt to lead Volvo Trucks back to increased profitability and restructuring efforts. “After three years of focus on product renewal, internal efficiency and restructuring, the Volvo Group is gradually entering a new phase with an […]
April 24, 2015
Business
Volvo’s Terex Trucks continues down path, offering a “standard, core rugged feature set”
Terex Trucks, a division of Volvo Construction Equipment since its acquisition from Terex last summer, is continuing down the path of offering both rigid-frame and articulated hauler off-highway trucks, according to Sam Wyant, global director sales and marketing, in an interview with Equipment World during the first day of Intermat. “Volvo bought this company as […]
April 21, 2015
Business
Thief disguises himself as a worker, steals $10k in equipment from LA construction site
A thief’s brazen plan to rip off a construction site in Beverly Hills nearly went off without a hitch. One problem: the entire heist was caught on tape. According to a report from KABC TV, a man adorned some work clothes and slid on a safety vest before walking onto a jobsite at the Beverly […]
April 17, 2015
Roadbuilding
Virginia DOT cuts loose US 460 Mobility Partners from $300 million project
The Virginia Department of Transportation (VDOT) has end its agreement with US 460 Mobility Partners LLC over the lack of work done on U.S. 460, a 55-mile highway project that would have cost an estimated $300 million, according to a report by the Richmond Times-Dispatch. Contract work on the project was stopped back in March […]
April 17, 2015
Business
Indiana Senate passes repeal of common construction wage; Gov. Pence expected to sign
Amid a storm of protest, the Indiana Senate on Wednesday passed the repeal of a state law which sets baseline wages for construction workers on certain public projects. According to a report from the Indianapolis Star, the Senate voted 27-22 in favor of House Bill 1019. The House passed the bill February 23. Before passing the bill, the Senate made […]
April 16, 2015
Business
Caterpillar to crunch even more data through acquisition of marine analytics firm ESRG
Just in case you didn’t think Caterpillar was really serious about this whole Big Data thing, the company today announced it has completed the acquisition of a marine industry analytics company. Caterpillar Marine has acquired ESRG Technologies Group, a Virginia Beach-based company specializing in marine telematics and analytics. The acquisition will bring ESRG’s telematics software, which […]
April 15, 2015
Business
Caterpillar doubles down on dedication to equipment data with new Analytics & Innovation division
Following through on its March promise to work to begin rolling out predictive diagnostic improvements to its Produc Link telematics service “in the coming months,” Caterpillar has announced the creation of a new division within the company that will focus solely on data and creating new ways for its customers to put the information to work. […]
April 13, 2015
Business
Booming crane market a welcome sign to strengthening U.S. construction industry
As one of the most expensive heavy equipment categories there is, when contractors and rental outfits are buying lots of cranes, you can safely conclude things are going pretty well in the construction industry. And that’s the gist of a recent analysis of the market by Citi’s Timothy Thein, according to a report from Business Insider. The report offers […]
April 13, 2015
Business
Post-vacation pressure: How to return to the office and jobsite without missing a beat
With long holiday weekends and the summer vacation season upon us, it’s easy to get behind in your work. If you often come back from vacations and long weekends overwhelmed, take a deep breath. Here are some tips to get your affairs back in order, and some ideas to keep in mind before your next break. More than […]
April 10, 2015
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