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Business: Page 117
Business
Home starts rise in February with single-family jump to 8-year high
Construction on single-family homes rose during February to its highest level since November 2007, pushing total U.S. home starts for the month up 5 percent. Starts rose to a seasonally adjusted annual rate of 1.178 million during February representing a 31-percent increase over the February 2015 figure, according to the National Association of Home Builders […]
March 17, 2016
Roadbuilding
Sandvik merges mining and construction operations
Sandvik has announced that it is merging Sandvik Mining and Sandvik Construction into one business called Sandvik Mining and Rock Technology. The company announced in a press release that the new structure will go into effect July 1 with current Sandvik Mining president Lars Engstrom taking over as the inaugural president of Sandvik Mining and Rock Technology. […]
March 17, 2016
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Business
POLL: Are you renting more heavy equipment?
As we’ve spoken to contractors over the last few years, especially with those who were able to keep their businesses alive during the recession, we’ve heard from more and more who have increased their equipment rentals. Whether it was selling off much of their fleet to stay lean and mean during the recession or using rental […]
March 16, 2016
Business
How an equipment operator turned 1 backhoe into a business with a 30-machine fleet
Andy Brown didn’t grow up in construction. His parents and grandparents were successful in the restaurant business. But, what he learned from them—about hard work and keeping a close eye on the books,— has served him well. After high school in Atascadero, California, Brown apprenticed with the Operating Engineers Local 12 and worked for Granite […]
March 16, 2016
Business
POLL: Do you take advantage of Bonus Depreciation for equipment purchases?
With bonus depreciation extended through 2019, we were wondering just how many readers have or planned to take advantage of this legislation for equipment purchases. The current bill allows the full 50 percent for property placed in service during 2015, 2016 and 2017, then phases down to 40 percent in 2018 and 30 percent in […]
March 10, 2016
Success Stories
Vermont’s G. W. Tatro Construction named 2016 Contractor of the Year
Greg and Dawn Tatro, owners of G. W. Tatro Construction, were named Equipment World’s 2016 Contractor of the Year at ceremonies in Las Vegas this weekend. The Tatros, who perform both civil and mountain ski infrastructure work out of Jeffersonville, Vermont, received some of the highest client recommendations that Equipment World editors had heard in […]
March 8, 2016
Business
Construction adds 19,000 jobs in February
The U.S. construction industry continued a now 11-month-long streak of job gains in February with the addition of 19,000 jobs. The industry now employs 6.631 million Americans, according to preliminary data from the Labor Department. The latest data also revised January’s total, decreasing it from 6.615 million to 6.612 million, weakening that month’s job gains […]
March 7, 2016
Business
Construction spending jumps 1.5% in January on nonresidential gains
U.S. construction spending jumped 1.5 percent in January over an already 8-year high reached in December. Total spending rose to $1.14 trillion, a 10.4-percent improvement over January 2015, according to preliminary data from the Commerce Department. The jump came thanks to a 2.5-percent increase in nonresidential spending to $702 billion. The largest monthly nonresidential gains in terms […]
March 2, 2016
Roadbuilding
Contractor walks away from NCDOT project over payment dispute
The North Carolina Department of Transportation is in search of a new contractor to finish up a nearly three-year-old project in Charlotte. According to Fox 46 in Charlotte, DeVere Construction told NCDOT that they would no longer perform work on the $100 million Independence Avenue widening project. The company claims NCDOT owes them money for the project. […]
February 29, 2016
Roadbuilding
Indiana DOT reaches settlement with Brooks Construction over pavement work
The Indiana Department of Transportation (INDOT) and Brooks Construction have agreed to a settlement requiring the contractor to repave a section of State Road 25 in Cass County. The settlement, signed by Gov. Michael Pence, Attorney General Gregory Zoeller and Brooks Construction President Andrew Brooks, is the result of INDOT’s complaint last year of “material deficiencies” […]
February 29, 2016
Business
Doosan to take Bobcat public on South Korean stock market
Earlier this week, Doosan announced that it would begin selling shares in Bobcat on the South Korean Stock Market later this year as part of an initial public offering. According to a report from Reuters, the IPO could value Doosan Bobcat, the Doosan Infracore subsidiary which controls the Bobcat Company, at more than $2 billion. The […]
February 26, 2016
Business
John Deere sales continue to fall as profit is cut by 40% in 1Q
John Deere saw sales decline and a sharp cut in profit for the first quarter, and in response the company has adjusted downward its outlook for the full fiscal year. Deere reported 1Q sales of $5.5 billion, down 13 percent from the same period last year. Profit fell 40 percent to $254.4 million. The global farming […]
February 25, 2016
Roadbuilding
California lowers gas tax by 2.2 cents per gallon
While states like Missouri, Alabama and Mississippi are considering raising their gas taxes to better fund infrastructure, California’s tax board recently decided that its residents paid too much for gas last year, and will give them a break at the pump. The Associated Press reported that the California Board of Equalization voted 3-2 Tuesday to lower the […]
February 25, 2016
Business
Another Caterpillar VP retires with company’s consolidation of Electric, Marine power divisions
Caterpillar announced today the retirement of another vice president as the company continues implementing changes associated with its sweeping cost reduction plan. Electric Power Division VP Steve Niehaus has “elected to retire,” according to a Cat release, following a 27-year career with the company. He served as VP of the Electric Power Division for the […]
February 24, 2016
Business
How this Utah contractor went from the aquarium business to building a construction company
The look of the family business has changed a great deal for the Fellers of St. George, Utah. But since 1980 there has been one constant: rock. Allen Feller started Feller Stone with his brother in 1980, quarrying and gathering rocks the world over and selling them to aquarium suppliers. “My dad was a stonemason […]
February 24, 2016
Business
Ritchie Bros. buys online equipment listing service Mascus
Heavy equipment auctioneer Ritchie Bros. has acquired online equipment listing service Mascus in an all-cash deal. Ritchie Bros. says it has paid €24.0 million ($26.6 million) for 100 percent equity in Mascus and will pay up to €3.4 million ($3.8 million) more should certain performance targets be met by Mascus over the next three years. Mascus will continue […]
February 23, 2016
Business
ARA’s Rental Penetration Index down slightly in 2015 despite “robust” non-residential market
The American Rental Association’s Rental Penetration Index, which has been on a steep incline in the past five years, saw its first downward movement in 2015, says ARA. The decrease was slight, however, going from 53.9 percent in 2014 to 52.9 percent in 2015. The index—which measures the share of the U.S. construction equipment fleet […]
February 22, 2016
Business
U.S. home starts fall 3.8% in January as builders remain conflicted about market’s prospects
U.S. home starts fell for a second consecutive month in January as builder confidence in the market continued its decline. Construction on new homes fell 3.8 percent in January to a seasonally adjusted annual rate of 1.143 million, according to preliminary data from the Commerce Department. That rate is 1.8 percent above the January 2015 figure. […]
February 17, 2016
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