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Business: Page 146
Business
Komatsu sees small decline in 1Q net sales, remains confident in stronger outcome for 2013
Decreases in demand for construction and mining equipment in Indonesia and mining equipment in Latin America led to year-over-year declines in both net sales and operating income for Komatsu in the company’s first quarter, which ends March 31, 2014. However, expanded sales of construction equipment and parts in Japan and the Middle East largely compensated […]
July 30, 2013
Business
LBX Company taps Eric Sauvage as next president, CEO
LBX Company has announced the appointment of Eric Sauvage as its next president and CEO, succeeding Robert Harvell who will retire at the end of the year. Harvell will remain a senior advisor and board member after his retirement. Sauvage joined LBX—the makers of Link-Belt hydraulic excavators, scrap/material handlers, demolition equipment and forestry equipment—in 2008 […]
July 30, 2013
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Business
Despite growth in AWP and cranes, Terex cuts outlook after 2Q operating income falls 51%
Citing a “softened” marketplace compared to what the company originally expected for 2013, Terex Corporation announced year-over-year declines in both net sales and operating income for the second quarter and has cut its outlook for the rest of the year. Net sales for the equipment maker were $1.9 billion in the second quarter, down 5.1 […]
July 29, 2013
Business
North Carolina paving contractor indicted for government contract fraud by using “disadvantaged business” as a pass through
Last week, a grand jury handed down a criminal indictment charging Boggs Paving Inc., based out of Monroe, North Carolina, with government contract fraud. The 29-count indictment charges the company and six co-conspirators with the following crimes: conspiracy to defraud the United States Department of Transportation (USDOT); conspiracy to commit wire fraud; conspiracy to commit mail […]
July 29, 2013
Business
Materials shortage pushes homebuilders even farther off the pace of demand
In addition to the skilled labor shortage currently keeping the construction industry from meeting the increased housing demand it has seen in the past 6 to 10 months, a shortage of building supplies is now keeping these contractors even further off pace, reports Reuters. According to the report, regional building materials makers—the companies that supply […]
July 29, 2013
Business
Volvo Construction Equipment 2Q sales fall 19%, operating income down 52 percent
Attributing year-over-year declines to “weaker sales, especially in the mining industry,” Volvo Construction Equipment reported its second quarter results with no change to its outlook for the rest of the year. The company reported operating income of $203.8 million (SEK 1.324 billion). That’s a 52 percent decrease from the $422.2 (SEK 2.742 billion) million brought […]
July 26, 2013
Business
Ask for Input: Building success in the construction industry with 6 management actions (PART 3)
In my second post on this subject, I mentioned a circumstance that made me realize I needed to ask for input from my team prior to making decisions. Here’s another example of how getting input before decision making helped to set the company on the right course. Action No. 4: Ask for input prior to […]
July 26, 2013
Business
Kiewit raises disaster relief money with T-shirt sales
Kiewit, one of the largest construction companies in North America is selling these T-shirts and donating the proceeds to the Alberta Arts Flood Rebuild, after devastating floods overran parts of southern Alberta last month. Good for them. You can order a shirt here. And/or  check out Kiewit’s Facebook page and tell them how much you […]
July 26, 2013
Business
Caterpillar sees second quarter profits fall 43 percent, cuts outlook
Caterpillar reported $14.621 billion in sales and revenues for the second quarter of this year with $960 million in profit. Both numbers are down significantly from last year due to a slump in mining demand, as they were in the first quarter, and the heavy equipment manufacturer has again cut its outlook for sales and […]
July 25, 2013
Business
Volvo Chinese subsidiary SDLG announces plan to enter North American market with LG938L, LG959 wheel loaders
Confirming prior reports, SDLG, a China-based Volvo Construction Equipment brand, announced this morning it will enter the North American market this year. Initially “select dealers” will offer two models, the 2.4 cubic-yard LG938L and the 4 cubic yard LG959. SDLG says its lower cost products “attract customers who are looking for machines that are reliable, […]
July 24, 2013
Business
Texas contractor to pay for repairs resulting from tar covered tires from recently paved road
It always feels nice to drive on newly-paved roads. Typically, that doesn’t include taking the road with you. Victoria, Texas contractor Brannan Paving has agreed to pay for all the repairs resulting from a botched paving job that for several days closed down a 2.5-mile stretch of road near Corpus Christi, according to KRISTV.com. Officials […]
July 24, 2013
Business
Learn how to get the most out of your equipment appraisal at The Construction Symposium
Equipment appraisals are an extremely important element to the business of construction. And we’ve written at length on the topic to give you as much advice and information on the topic as possible. But if you’d like to discuss equipment appraisals with an expert in person, make plans to attend our Construction Symposium in Dallas, […]
July 24, 2013
Business
Oregon contractors, state leaders host pre-apprenticeship programs to introduce teens to construction
Expecting a sustained recovery in demand and the need to hire lots of young workers in the next few years, contractors in Oregon are working to drum up interest in the construction industry among teens and are reporting positive results. The state’s construction businesses are expected to hire 30,000 workers by 2020—45 percent of which […]
July 23, 2013
Business
Flash, bang: Explosion at NYC hotel caused by worker who opted for blowtorch over flashlight
In the scheme of safety fails, you could safely say this move wasn’t too bright. Sources told CBS News that the explosion that rocked the Viceroy Hotel in Midtown Manhattan Thursday was caused by a construction worker who decided to use a blowtorch instead of a flashlight. The worker was apparently trying to find a […]
July 22, 2013
Business
Want to boost jobsite productivity? Let your employees set their own hours
Did you know we shouldn’t be working 40-plus hours per week? Apparently, economists of old predicted that, with advances in technology, our workday would be so efficient we would have trouble filling our leisure hours. Ha. Everyone is working longer hours. When they finish at the office, they take more work home. (If you really […]
July 22, 2013
Business
Listening and respect: Building success in the construction industry with 6 management actions (PART 2)
In my first post in this series, I talked about the importance of providing positive reinforcement. Following are the next two management actions to take if you want to build success in the construction industry. Action No. 2: Ask what questions, problems and concerns people have and ask how you can help I believe this is […]
July 19, 2013
Business
Home starts stumble 10% in June while single-family permits hit highest rate in 5 years
In what’s beginning to become a sustained pattern of ups and downs, the start of construction on new homes in the U.S. fell 9.9 percent in June, according to data from the Commerce Department Wednesday. June’s stumble likely resuscitates fears that the housing recovery isn’t as healthy as many thought a few months ago. May […]
July 17, 2013
Business
Construction materials prices slip slightly in June, up 1.5% annually
The average cost of materials used by the construction industry plus items consumed by contractors such as diesel fuel fell 0.1 percent in June, according to Associated General Contractors of America’s latest analysis of data from the Bureau of Labor Statistics. However, compared to June of last year, construction materials prices were up 1.5 percent. […]
July 16, 2013
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