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Business: Page 115
Business
Manitowoc to split into two companies through Foodservice spin-off
Manitowoc has announced that it will split into two, independent and publicly-traded companies. The move will separate the company’s cranes and foodservice businesses through a tax-free spin-0ff of Foodservice. The spin-off is expected to be completed in the first quarter of 2016. “After a comprehensive evaluation, including a thorough review of the current and projected operating […]
January 30, 2015
Business
Antitrust suit alleges Caterpillar, Komatsu and Volvo conspired to bar Chinese construction equipment from U.S. market
International Construction Products has filed an antitrust lawsuit against the three biggest names in construction equipment, accusing them of colluding to limit competition in the U.S. The suit was filed this morning in a U.S. District Court in Wilmington, Delaware, and names Caterpillar, Komatsu America and Volvo Construction Equipment North America as defendants. The suit alleges […]
January 29, 2015
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February 1, 2025
Business
Sales fall again in 4Q as CNH Industrial posts 14% profit decline for 2014 on slumping farm demand
It wasn’t nearly as bad as the third quarter, but the fourth certainly wasn’t much better for CNH Industrial which saw sales declines across all equipment and vehicle segments. Sales for the company, makers of the Case Construction and New Holland equipment brands, fell 10 percent during the quarter to $8.4 billion. Despite the drop […]
January 29, 2015
Business
ACPA forms traffic task force, plans pavement design software initiative
The American Concrete Pavement Association has announced two new initiatives for 2015: The formation of a task force for maintenance of traffic; and plans to explore options for creating a unified pavement design software approach. The maintenance of traffic (MOT) task force will help create “new information on staging construction and maintaining traffic during concrete […]
January 29, 2015
Business
Komatsu profit up 5.5% in 3Q thanks to strong construction equipment sales in North America
Helped by a weakening of the yen against the U.S. dollar as well as increased equipment sales in the Americas and Europe, Komatsu posted gains in both profit and sales during its fiscal third quarter. For the quarter, which ended December 31, net sales increased 6.4 percent over Q3 2013 to $4.2 billion (494 billion yen). […]
January 28, 2015
Business
Vermont Senator introduces $1 trillion infrastructure spending bill
A U.S. senator from Vermont has filed a bill that would designate $1 trillion over the next five years to transportation and infrastructure spending, according to a report from The Hill. Independent Sen. Bernie Sanders calls his bill the “Rebuild America Act,” noting in an op-ed piece also published by The Hill that, “a $1 trillion investment […]
January 28, 2015
Business
U.S. Chamber of Congress, AAA and ATA urge Congress to raise gas tax to fund long-term highway bill
With the Highway Trust Fund (HTF) inching ever so closer to insolvency, organizations are redoubling efforts to ensure Congress is passes a permanent fix, rather than a patch. AAA, the American Trucking Associations, and the U.S Chamber of Commerce submitted a joint letter to Congress Jan. 26 urging members of the 114th Congress to raise […]
January 27, 2015
Business
California contractor sees latest emissions-compliant construction equipment as a competitive advantage
Andrew Allen, president of R. J. Allen Inc, has a different perspective on California Air Resources Board regulations, which require a certain percentage of a contractor’s equipment fleet be compliant with the latest emissions regulations. Allen, one of 12 finalists for the 2015 Contractor of the Year program, sees using Tier 4 Interim and incoming […]
January 26, 2015
Business
Corporate tax code reforms have early bi-partisan support as method for funding long-term highway bill this year
After President Barack Obama made a brief mention of infrastructure funding in his State of the Union address last week, urging Congress to focus on that rather than the Keystone XL pipeline, Vice President Joe Biden has now made his own appeal to lawmakers to fund a long-term highway bill this year. According to a […]
January 26, 2015
Business
Worker’s death in Ohio bridge collapse places urgency upon New Jersey bridge inspections
Aging infrastructure issues are well-known topics across the political landscape, as President Obama alluded to in his recent State of the Union address. Unfortunately, it takes a tragic incident such as the death of an Ohio construction worker in an overpass collapse to really grab the attention of officials. As a direct result of the Ohio incident, […]
January 23, 2015
Business
John Deere cuts 910 ag factory workers, adds 220 to construction equipment facilities
John Deere announced today that it would layoff 910 employees across five agricultural equipment factories in Iowa and Illinois as the company cuts costs in response to an ongoing global farming slowdown. The heavy equipment manufacturer said it would layoff 565 from three plants in Waterloo, Iowa, as well as 300 in Ankeny, Iowa and 45 […]
January 23, 2015
Business
Los Angeles at a tipping point: get serious about public transportation or sink into Third World status
Last week I got the opportunity to visit Southern California and see how the country’s most famous freeways were holding up. I pulled out of LAX in my rental car just after lunch, gunned it onto the 405 and then west on 101 and barely had to tap the brakes during four hours of high-speed […]
January 23, 2015
Business
Four red flags you’re ruining your construction crew’s productivity
“The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint enough to keep from meddling with them while they do it.” –Theodore Roosevelt Conventional wisdom tells us a strong business needs a strong leader. A decisive and dynamic leader is the most […]
January 23, 2015
Business
With December bump, U.S. home builders started 9% more homes in 2014
Despite an up and down year heavily-influenced by apartment construction, home builders in the U.S. began work on more new homes in 2014 than the previous year. During December, starts on both single-family homes and apartments rose 4.4 percent to a rate of 1.043 million, according to preliminary data from the commerce department. The final tally for […]
January 21, 2015
Business
Obama urges Congress to focus on improving infrastructure rather than Keystone XL in State of the Union
President Barack Obama in his sixth State of the Union address made little mention of issues related directly to construction and transportation, which has in years past come in the form of the president pushing Congress to do more to fund highways and other transportation infrastructure. Unlike recent years, however, the president only briefly addressed transportation infrastructure […]
January 21, 2015
Business
The world built more skyscrapers and supertall buildings in 2014 than in any other year in history
If you live in a large city and have thought it seems like a lot of new skyscrapers are going up, you would be correct. That’s because the world is in the middle of a skyscraper surge, with 2014 seeing the construction of more tall and supertall buildings completed than in any other year. According […]
January 20, 2015
Business
ARA expects heavy equipment rental market to grow 8.5% to $26 billion in 2015
The American Rental Association said it expects the 2015 U.S. construction/industrial equipment rental market to grow 8.5 percent this year, reaching $26 billion. General tool rentals will grow 8.8 percent to $9.9 billion, the association predicts. “The industry growth forecast remains more than double that of the overall economy,” says Christine Wehrman, ARA’s executive vice […]
January 20, 2015
Business
Bird advocates call for special glass that could seriously delay Vikings stadium construction, add $60 million to cost
Crews and head contractor Mortenson Construction have successfully fought through a worker shortage and below-freezing temperatures to keep construction on the new Minnesota Vikings football stadium on schedule. But like a running back who has fought his way to the end zone only to have his celebration cut short by a late penalty flag, Mortensen has […]
January 19, 2015
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