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Business: Page 123
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 [âŚ]
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. Thatâs the highest employment mark for construction since April 2009 when it employed 6.154 million people. The new [âŚ]
December 8, 2014
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February 1, 2026
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 cityâs Market East cultural district. The 10-story office building will serve as the headquarters for the companyâs global distribution business. The exterior will feature a lot of glass, and is designed to let in a lot of natural light. [âŚ]
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 [âŚ]
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, [âŚ]
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 [âŚ]
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 [âŚ]
December 1, 2014
Dealers
Terex Construction launches new website and app, plus new locations for Liebherr and JCB in this weekâs 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 weekâs 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 [âŚ]
December 1, 2014
Success Stories
Sibling dynamic builds Guyer Brothers into successful company with a family atmosphere
When talking with successful contractors, you often hear them credit the people that work for them. Thereâs a reason for that. Most people in this business understand that their success is directly tied to how well their employees do their job. Happy employees tend to be the best employees and the business owners that make [âŚ]
November 30, 2014
Business
Thief takes his sweet time plundering Nebraska contractorâs equipment yard on multiple occasions
Law enforcement in Omaha, Nebraska, are searching for a man who stole thousands of dollars worth of equipment and materials from a contractorâs equipment yard earlier this year. According to a report from KETV, the thief made four trips to the yard between February and March. What he apparently didnât knowâor maybe he just didnât careâwas [âŚ]
November 24, 2014
Business
Home starts dip 2.8% in October as builder confidence clicks back up
U.S. home starts fell 2.8 percent in October to a seasonally adjusted annual rate of 1.009 million, according to preliminary data from the Commerce Department. The latest report also revised the September rate upward from 1.017 million to 1.038 million. Home starts in the U.S. are now up 7.8 percent over October 2013. For the last [âŚ]
November 19, 2014
Business
One contractor gives another work: Seattle officials suspect construction crew responsible for dumping concrete in sewer pipe
Even though itâs something that happens fairly regularlyâthree or four times a yearâfooting the bill to repair sewer pipes used as a place to dump left over concrete never gets any less frustrating for Seattle city officials. Today the city will have to close down part of Fairview Avenue North so construction crews can begin [âŚ]
November 13, 2014
Business
Cement shortage in Michigan could delay some construction projects into next year
Construction projects across the state of Michigan that are dependent upon concrete are being delayed due to a cement shortage caused by what is being called a âperfect stormâ of events. According to a report from the Detroit Free Press, the Michigan cement industry had to delay the start of shipping this spring due to [âŚ]
November 11, 2014
Business
AGC economist forecasts strong construction growth thanks to âshale galeâ, Panama Canal expansion
The morning after Republicans won back the U.S. Senate, Ken Simonson, chief economist for the Associated General Contractors of America, said that conservative majorities in both houses of Congress are unlikely to spend money to improve the the countryâs infrastructure, but that private construction will be robust. The keynote speaker Wednesday at the 2014 Association [âŚ]
November 6, 2014
Business
ARA: U.S. equipment rental market to grow 7.3 percent this year, slightly down from earlier predictions
Revising its forecast slightly down from the 7.6 percent growth predicted in July, the American Rental Association now sees 7.3 percent growth this year in the U.S. equipment rental market. The total marketâconsisting of primarily construction equipment and general tool segments, but also including a party and event componentâis now expected to reach $35.7 billion, [âŚ]
November 5, 2014
Business
Despite slight dip in profit during first 6 months, Komatsu revises full-year forecast upward on âbriskâ equipment sales
Sales and operating income at Komatsu are up during the first six months of the companyâs fiscal year, but the increases werenât enough to stave off a slight dip in profit. The Japanese heavy equipment manufacturer reported sales of $8.3 billion (942.5 billion Japanese Yen), during the first half of fiscal year 2o14, which ends [âŚ]
November 3, 2014
Business
Construction spending falls 0.4% in September due to dip in government projects
Construction spending in the U.S. fell for a second consecutive month in September, dipping 0.4 percent. According to preliminary estimates from the Commerce Department, spending was at a seasonally adjusted annual rate of $951 billion in September. In addition to the dip in September, the report revised downward the rates for the previous two months as [âŚ]
November 3, 2014
Business
Kobelco opens new North American headquarters in Texas
As a result of expected rapid growth in their sale of excavators in North America, Kobelco Construction Machinery has opened a new corporate headquarters in Katy, Texas. Designed to service dealers and customers in the United States, Canada and Latin America, the location features parts warehousing capabilities including a floor plan and racking configuration that [âŚ]
November 3, 2014
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