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Business: Page 118
Roadbuilding
USDOT $98.1 billion fiscal year 2017 budget includes clean transportation, autonomous vehicle pilot funds
Transportation Secretary Anthony Foxx has announced President Obama’s $98.1 billion fiscal year 2017 budget for the U.S. Department of Transportation, a plan that includes clean transportation and autonomous vehicle pilot programs in addition to other traditional programs. “Meeting future challenges will require a long-term vision for the transportation sector that includes more and cleaner options, […]
February 11, 2016
Roadbuilding
NAPA names Walsh & Kelly President Kevin Kelly as 2016 chairman
Kevin Kelly, president and CEO of Indiana-based paving contractor Walsh & Kelly, took over as chairman of the National Asphalt Pavement Association (NAPA) at the group’s 61st annual meeting in La Quinta, California. Walsh & Kelly operate five permanent asphalt plants and provides services including excavation, grading and paving in northern Indiana. Kelly has served […]
February 10, 2016
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Business
Volvo CE doubles operating income in 2015 despite sales decline
Despite a decrease in sales during 2015, Volvo Construction Equipment managed a huge improvement in operating income for the year thanks to market share gains and strong performance in North America and Europe. The company reported fourth quarter sales of SEK 11 billion ($1.3 billion), down 11 percent from the same period last year. Operating […]
February 9, 2016
Business
Construction adds 28,000 jobs in January
The U.S. construction industry continued its streak of employment gains in January, adding 28,000 jobs. The industry now employs 6.615 million Americans, the highest total since December 2008’s total of 6.701 million, according to preliminary data from the Labor Department. Construction employment has been on the rise for 10 straight months. The latest data also […]
February 8, 2016
Roadbuilding
Obama proposes $10-per-barrel tax on oil production to fund green infrastructure
President Barack Obama is aiming to implement more measures to combat climate change, and this time he’s eyeing oil companies to foot the bill. The Hill reported that the White House announced Obama will propose with his budget request next week a $10-per-barrel fee on oil production in order to fund a new $32.4 billion per-year “green transportation plan.” The plan […]
February 4, 2016
Business
CNH Industrial sales drop 20% in 2015 as profit is cut in half
An expanding European truck market was the lone bright spot in CNH Industrial’s full-year earnings report for 2015 as sales across each of the company’s segments fell. The company, manufacturer of the Case and New Holland brands of have equipment, reported fourth quarter sales of $7.1 billion, down 15 percent from the previous year. However, profit […]
February 3, 2016
Roadbuilding
Stockpile Reports launches bin and bunker measurement for stockpiled materials via iPhone, drone
Stockpile Reports announced at World of Concrete it now supports measurement capabilities for stockpiled materials, such as salt, gravel and sand, in bins and bunkers using an iPhone, drone or airplane. Current methods involve using a walking wheel, counting bunker wall blocks and estimates from truckload sizes. “Our subscribers requested this from our team in […]
February 3, 2016
Business
PCA, Wells Fargo 2016 construction forecasts: positives outweigh negatives
Two construction activity forecasts issued today cite positive short term outlooks, while indicating concerns for long-term sustained growth. PCA will likely adjust its fall forecast to “at most” a 5 percent growth in cement consumption in 2016, a revision that will take into account the recently-passed FAST highway funding bill and the continuing downward spiral […]
February 2, 2016
Business
Chinese, mining demand drags down Komatsu sales as profit falls 11% in first 9 months of the year
Komatsu says its sales are brisk in North America but continued difficulty with slack demand for equipment from Chinese customers and customers in the mining industry continue to drag down the company’s bottom line. The company reports sales of 1.37 trillion yen ($11.3 billion) for the first nine months of the fiscal year, which ends March 31. Sales are […]
February 2, 2016
Business
Construction spending jumps 10% to 8-year high in 2015
Gains in homebuilding edged out losses in nonresidential spending, propelling total U.S. construction spending to an eight-year high in December. Total spending rose 0.1 percent during the month to $1.1 trillion, according to preliminary data from the Commerce Department. The total represents a 10.5-percent jump 2014 total and the largest amount of activity in the industry since […]
February 2, 2016
Business
Caterpillar to close 5 more plants, cut 670 jobs as part of cost reduction plan
As part of the company’s cost reduction plan introduced in the Fall of last year, Caterpillar has announced its latest round of layoffs with cuts affecting five facilities around the U.S. According to a report from the Associated Press, Cat will eliminate a total of 670 jobs and close plants in Illinois, Georgia, New Mexico, Wisconsin and China. However, production at these […]
February 1, 2016
Business
Caterpillar profit fell 43% in 2015; 4Q loss comes as construction, mining sales weaker than expected
Despite slashing its sales outlook in tandem with an October announcement of a sweeping cost reduction plan, Caterpillar’s full-year sales still fell below that most recent forecast after sales fell $3 billion year over year in the fourth quarter. The company reported 4Q sales and revenues of $11 billion, down 23 percent from the same quarter in 2014. Cat […]
January 28, 2016
Business
Judge throws out ICP’s antitrust suit against Caterpillar, Komatsu and Volvo CE
A lawsuit filed against three of the largest manufacturers of construction equipment alleging that they worked together to limit competition from Chinese manufacturers has been thrown out of federal court. According to a report from the Wall Street Journal, U.S. District Judge Richard Andrews dismissed the lawsuit which was filed by International Construction Products (ICP) nearly one […]
January 25, 2016
Business
December dip in home starts doesn’t derail market’s momentum, but concerns remain
Despite ending the year on an unexpected sour note, the U.S. housing market had its best year since 2007 in 2015. According to preliminary data released from the Commerce Department, U.S. home starts fell 2.5 percent in December to 1.149 million. The dip came as a surprise to industry analysts especially after a strong Novemeber […]
January 21, 2016
Business
From digging graves as a boy to relocating a construction business during the recession, Tim Humerick built a career staring down the odds
Tim Humerick has spent little of his life doing things he didn’t want to do. There was the one time he got a job in high school at Kroger that lasted all of a couple of weeks. “It was kind of hard to get hours at my other job during the winter, so I went […]
January 18, 2016
Business
Johnson to replace Rapp as president of Caterpillar’s Resource Industries group
The Caterpillar board of directors has elected Denise Johnson as the next group president for Resource Industries. Johnson will replace Ed Rapp who last month announced his plans to retire due to a recent diagnosis of Amyotrophic Lateral Sclerosis (ALS), better known as Lou Gehrig’s disease. Johnson currently serves as vice president of Cat’s Material Handling […]
January 15, 2016
Business
As smartphones, tablets become more necessary on jobsites, more contractors plan to increase IT spending
Though the adoption of technology among U.S. construction firms has been somewhat disappointing in the past, there does appear to be an uptick occurring as mobile devices such as smartphones and tablets become more commonplace–and more necessary—on jobsites. According to the Associated General Contractors of America’s 2016 Construction Industry Outlook, 42 percent of the more […]
January 14, 2016
Business
John Deere elects Intel CEO Brian Krzanich to its board of directors
Brian Krzanich, the chief executive officer of technology giant Intel, has been elected to the Deere & Company board of directors. The addition of Krzanich is a huge get for Deere as the company and its competitors in heavy equipment manufacturing work to network their machines together in order to give customers more in-depth data concerning production, […]
January 13, 2016
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