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Business: Page 119
Dealers
Plunging yen has boosted Komatsu sales; Caterpillar dealers report “aggressive” pricing
With profit and sales declines in full effect for competitors Caterpillar, John Deere and CNH Industrial, Komatsu earnings reports been the lone bright spot among construction equipment manufacturers. Even Terex, which finished the year with a 27 percent profit increase, is expecting a more challenging 2015 with sales declines. Komatsu sales increased 6.4 percent year-over-year […]
March 12, 2015
Business
Akron mayor, city council butt heads over $2 million in equipment for proposed city-owned construction company
Discussion of a proposed city-owned construction company turned heated within the chambers of the Akron City Council Monday night over $1.9 million in heavy equipment purchases. According to a report from the Akron Beacon Journal, Mayor Don Plusquellic has asked the council for approval to purchase or lease six concrete trucks and four dump trucks as part of his […]
March 10, 2015
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February 1, 2026
Business
Contractor optimism reaches historic high in annual construction industry forecast
The last time contractors were this optimistic, the economy tanked and went into the longest and deepest recession since the Great Depression. That was ten years ago. Today’s optimism is reported in the recently released Wells Fargo Construction Industry Forecast 2015. Of course this time, as economists like to say, it’s different. The last recession […]
March 9, 2015
Business
Succession planning: How one future contractor takes preparation to assume the family business seriously
In the past, second- and third-generation contractors often assumed the helm of the company because it was all they’d known, and what they were expected to do. They had years of experience in the field, but often had limited decision-making skills and little management experience. The focus on succession planning has often been on steps […]
March 4, 2015
Business
PHOTOS: Google to build greenhouse-like HQ defined by movable construction housed in see-through canopies
[imagebrowser id=206] With construction of competitor Apple’s new spaceship-like Campus 2 well underway, Google has announced its own plans for a revamp to its headquarters in Mountain View, California. And while Apple’s project is of interest to construction professionals due to the sheer scale of the $5 billion project alone, Google’s is interesting in how […]
March 2, 2015
Business
CNH Industrial to lay off more than 200 factory workers at Nebraska, North Dakota plants
CNH Industrial has confirmed indefinite layoffs at two plants in response to, “market conditions,” as the farm and construction equipment manufacturer continues to deal with a global agricultural slowdown. According to a report from KFGO AM, CNH will lay off 80 full-time workers at its Fargo, North Dakota, plant, while the Grand Island (Nebraska) Independent reports […]
March 1, 2015
Business
Nonresidential pulls down U.S. construction spending 1.1% in January
U.S. construction spending fell 1.1 percent during January due to nonresidential construction decreases in both the public and private sectors. Overall spending fell to $971.4 billion, according to preliminary estimates from the Commerce Department. However, the figure remains up 1.8 percent over January 2014. Nonresidential spending fell 2 percent to $614.1 billion. Thirteen of the sector’s 16 markets saw […]
March 1, 2015
Business
U.S. construction equipment exports fall 13.2% in 2014 with decreases in shipments to all regions
Exports of construction equipment made in the U.S. fell are down 13.2 percent in 2014, according to an Association of Equipment Manufacturers analysis of Commerce Department data. Construction equipment exports fell to $17.26 billion during the year with decreases in shipments to all world regions. U.S. exports of construction machines have fallen for eight consecutive quarters. […]
February 26, 2015
Business
China used more cement in 3 years than the U.S. used during the entire 20th Century
So you’ve probably heard at least a little bit about the wildly expanding middle class in China and the extremely rapid growth of once-rural and tiny cities into giant metropolises just in the last couple of decades. But here is a statistic and a photo to put all of that into context, via Bill Gates. […]
February 25, 2015
Business
Construction company expands into the crime scene/meth lab cleanup business
In construction, it’s always good for business owners to explore diversification, to look into new ways their outfit is equipped to quickly flex and serve another need in their area. Some common ones are landscaping or snow plowing, others might get into environmental cleanup. But one North Carolina contractor took an extra step outside the […]
February 24, 2015
Business
PHOTOS: Caterpillar unveils new 3-tower HQ campus spanning 6 city blocks in Peoria
[imagebrowser id=199] Caterpillar will make major, but very welcome, changes to the Peoria skyline with the construction of a three-tower company headquarters building along the city’s riverfront. RELATED: PHOTOS: Tour the Caterpillar Visitors Center, a walk through the history of yellow iron The plans are the result of a multiyear study with the aim of creating […]
February 23, 2015
Business
John Deere 1Q profit plummets 43% as ag slowdown continues; further declines expected
In recent years, as the effects of the recession were hammering the construction industry and the profit margins of heavy equipment manufacturers, John Deere posted 15 straight quarters of record earnings on the strength of its farm equipment sales. And now, as construction is fighting its way back, a global slowdown in the agricultural sector […]
February 22, 2015
Business
Contractor honors his father’s legacy with successful paving business
The TCW in TCW Construction stands for “Tony’s Cement Works,” a tribute to the company started by Joe Delgado’s father, which concentrated on driveways, sidewalks and patios. “We use his wheelbarrow logo to this day,” says Delgado, president of the Lincoln, Nebraska firm and one of Equipment World’s 2015 Contractor of the Year finalists. In […]
February 19, 2015
Business
Caterpillar hit with $1 billion in penalties, taxes on Swiss unit as feds open new investigation into overseas profit shifting
If slumping mining demand and oil prices hadn’t made things hard enough on the company’s finances, Caterpillar is now facing increased pressure from the U.S. government for the movement of cash between it and its overseas subsidiaries. After a review of the company’s 2007 to 2009 tax returns, which include a loss carryback to 2005, the Internal […]
February 19, 2015
Business
U.S. home starts fall 2 percent in January as builder confidence dips due to cold weather
Following up a nice gain in December, housing starts in the U.S. fell 2 percent in January and builder confidence in the market has since dropped due to harsh winter weather conditions. Builders started homes at a seasonally-adjusted annual rate of 1.065 million homes in January, a 19-percent increase over January 2014, according to preliminary data […]
February 18, 2015
Business
Terex finishes 2014 with a 27% profit increase but expects sales declines in 2015
Terex has released its fourth quarter and full-year earnings report and despite consecutive down quarters to finish the year, the heavy equipment manufacturer saw overall gains in both profit and sales during 2014. Sales were up 3 percent in 2014 to $7.3 billion thanks to increases in every segment except cranes. The figure met the […]
February 18, 2015
Business
Akron wants to start its own city construction company; would be an Ohio first
Contractors that bid on projects in the city of Akron, Ohio, may soon have some new competition: the city itself. Frustrated with the low levels of local workers hired on past and current city projects, Akron Mayor Don Plusquellic recently announced his plan to start a construction company run by the city, according to a […]
February 17, 2015
Business
Nearly 50 NYC contractors, inspectors and property managers charged in bribery scheme
Earlier this week, dozens of New York City construction professionals surrendered to police and were charged as the result of a two-year city investigation that uncovered a widespread bribery scheme. According to a report from the The Daily News, 50 defendants were charged, “including 16 city inspectors, plus a host of property managers and owners, ‘expediters,’ contractors […]
February 12, 2015
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