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Business: Page 117
Business
Contractors, construction equipment manufacturers have much to gain from restoration of trade with Cuba
Though the restoration of diplomatic relations between the U.S. and Cuba has a long way to go, construction is firmly planted among the industries with the most to gain from the reversal of the half-century-old political stalemate announced by President Barack Obama last week. On Wednesday, Obama announced that he was ordering a full restoration […]
December 22, 2014
Business
IronPlanet and Cat Auction Services announce merger
Online equipment marketplace IronPlanet and the Caterpillar dealer channel for used equipment sales, Cat Auction Services, have announced a merger. The two companies promise a “unique auction experience, backed by technology.” The merger looks to be a move by IronPlanet to incorporate onsite auctions into its currently online-only format and caps off a pretty big […]
December 22, 2014
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August 4, 2025
Dealers
Caterpillar names a new CIO and a new head of Asia Pacific distribution amidst leadership changes
At the head of several changes in Caterpillar’s corporate leadership, the company has named a new Chief Information Officer and vice president with responsibility for the Global Information Services Division in Julie Lagacy. A 26-year veteran of the company, Lagacy previously served as chief financial officer of the company’s mining business before being named vice president […]
December 19, 2014
Business
Interchange projects in Norman amount to Oklahoma DOT’s largest awarded contract ever
The reconstruction of two interchanges on Interstate 35 in Norman has generated the single largest construction contract ever awarded by the Oklahoma Department of Transportation. The department awarded the contract to Sherwood Construction Company of Tulsa with a $71 million base bid with possible financial incentives. The contract calls for the reconstruction of the northern half […]
December 18, 2014
Business
Home starts fall 1.6% in November as builder confidence slips
The rate of construction on new single family homes fell in November and with it went the rate of all U.S. home starts for the month. Construction on single- and multi-family homes fell 1.6 percent in November to a seasonally adjusted annual rate of 1.028 million, according to preliminary data from the Commerce Department. The latest report […]
December 16, 2014
Business
Congress passes $1.1 trillion spending bill; cuts $5 billion from federal construction accounts
Two days after the legislation was passed by a tight vote in the House, the Senate passed a $1.1 trillion spending bill Saturday night that includes both good and bad news for federal construction accounts in 2015. The bill keeps the government funded through September, when the fiscal year ends. The Senate passed the spending […]
December 15, 2014
Business
Alabama has no plans to raise gas tax; state will rely on next year’s bond issue for road projects
Gov. Robert Bentley says he has no plans to ask the Alabama legislature to raise the state’s 16-cent-per-gallon gas tax, responding to emailed questions submitted by The Tuscaloosa News. Instead, Alabama instead will look to a $508.5 million highway bond issue to finance highway projects, bonds that last week received a AAA rating from Standard […]
December 15, 2014
Business
2014 bonus depreciation expected to pass; applies to construction equipment bought and put in service by Dec. 31st
Just in the nick of time, contractors may once again this year be able to take advantage of a 50 percent bonus depreciation in new equipment purchases, a tax code provision that had expired last year. Earlier this month, the U.S. House of Representatives passed H.R. 5771, which would reinstate both the bonus depreciation and […]
December 12, 2014
Business
Blind spider inflates San Antonio highway project cost by $30 million
A construction project at one of San Antonio’s most congested areas of traffic that has been delayed for the past two years has transformed and nearly tripled in cost due to the discovery of a tiny, and very rare blind spider. According to a report from the San Antonio Express-News, the originally $15.1 million construction […]
December 12, 2014
Roadbuilding
Choosing the right machine for proper soil compaction
Experience, type of soil, method specification and available equipment are all part of making this decision.
December 11, 2014
Business
Arson suspected in gigantic fire that destroyed apartment complex under construction in downtown Los Angeles
Police and fire officials in Los Angeles have opened a criminal investigation into a massive fire that broke out early Monday morning, engulfing an entire city block and destroying most of an apartment complex under construction. According to a report from the Los Angeles Times, the fire broke out around 1:20 a.m. Monday at the downtown […]
December 10, 2014
Business
Construction adds 20,000 workers in November, but unemployment rises
With an addition of 20,000 workers during November, the U.S. construction industry added employees to its workforce for an 11th consecutive month. The industry now employs 6.109 million Americans, according to preliminary data from the Labor Department. That’s the highest employment mark for construction since April 2009 when it employed 6.154 million people. The new […]
December 8, 2014
Business
Cummins reveals striking glass and steel design for its new downtown Indianapolis office
Cummins has revealed the design for its new Indianapolis office which will be located in the city’s Market East cultural district. The 10-story office building will serve as the headquarters for the company’s global distribution business. The exterior will feature a lot of glass, and is designed to let in a lot of natural light. […]
December 4, 2014
Business
Best of the Best: Here are the 12 finalists in our 2015 Contractor of the Year awards
Equipment World announces its 2015 finalists for the Contractor of the Year program, now in its 15th year. Each of the 12 finalists will be the guest of program sponsor Caterpillar during a event-filled weekend at the Wynn Resort in Las Vegas, including an industry roundtable, awards banquet and attendance at the NASCAR Kobalt Tools […]
December 3, 2014
Business
Ritchie Bros. 3Q auction proceeds up, revenues down; announces management, structure changes
Ritchie Bros. says it saw a record third quarter in gross auction proceeds, posting $886.9 million for the period, up 12 percent compared to last year. The company says it achieved more than $4 billion in gross auction proceeds for the last four quarters, which is a first for the company. Adjusted net earnings, however, […]
December 3, 2014
Business
Construction spending up 1.1% in October due to gains in homebuilding, government nonresidential
U.S. construction spending rose 1.1 percent during the month of October due mainly to increases in homebuilding and government nonresidential projects. According to preliminary estimates from the Commerce Department, October construction spending was at a seasonally adjusted annual rate of $971 billion. The new data also revised the August and September rates upward from the previously estimated $955 […]
December 2, 2014
Business
John Deere makes huge gains in construction equipment sales during 2014, but ag slowdown brings full-year profit down 11%
After smashing earnings records in 2013, three straight down quarters due to a global farming slowdown resulted in an unfavorable fiscal 2014 for John Deere, and the company expects things to only get worse in 2015. The company announced a profit decrease of 11 percent to $3.162 billion during fiscal year 2014, which ended October […]
December 1, 2014
Dealers
Terex Construction launches new website and app, plus new locations for Liebherr and JCB in this week’s Dealer News Roundup
Welcome to the Dealer News Roundup, your one-stop shop for all the moves going on inside the heavy equipment distributor industry. This week’s edition includes a redesigned Terex website and app, along with new locations for Liebherr and JCB. Terex launches distributor support app and responsive website Terex Construction has launched a new Distributor Support […]
December 1, 2014
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