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Business: Page 150
Business
Volvo considering sale of Volvo Rents equipment rental business, Bloomberg reports
Volvo is considering the sale of its North American construction equipment rental business, according to a new report from Bloomberg. Companies and private-equity firms are reportedly interested in buying the business, named Volvo Rents. The business may be worth between $1 billion and $1.5 billion, according to two sources that spoke to Bloomberg under anonymity. […]
May 24, 2013
Business
Washington’s I-5 bridge collapse highlights need for infrastructure funding
Thursday night, a truck with an oversized load struck a portion of the I-5 bridge near Seattle, Washington, sending a section of the bridge and three drivers tumbling into the Skagit River below, according to our sister site Better Roads. Thankfully, no one was killed in the collapse, but rescue teams are searching the river […]
May 24, 2013
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Business
Obama slashes review and approval times for infrastructure projects
As he said he would do shortly after his infrastructure-heavy State of the Union address, President Barack Obama has signed a Presidential Memorandum with the goal of decreasing the review and approval times for major infrastructure projects, according to our sister site Better Roads. Titled “Modernizing Federal Infrastructure Review and Permitting Regulations, Policies, and Procedures,” […]
May 24, 2013
Business
Immigration bill gains Senate committee’s approval, retains limit on construction visas but increases H-1B visas for highly skilled workers
With a 13-5 vote Tuesday night, the Senate Judiciary Committee approved an immigration bill that would give 11.5 million immigrants living in the United States illegally a chance at citizenship, the Associated Press reported. The bill retains the new guest worker program, called the “W-Visa,” that would make a maximum of 200,000 visas available each year. […]
May 23, 2013
Business
AED and 17 construction industry groups call for House to support approval of Keystone XL pipeline
In a letter addressed to Speaker of the House John Boehner, R-Ohio, and Democratic leader Nancy Pelosi of California, the Associated Equipment Distributers and 17 other construction industry associations and unions called for the House of Representatives to approve a bill that would negate the need for President Barack Obama to sign off on the […]
May 22, 2013
Business
John Deere launches GreenFleet loyalty rewards program with discounts, financing offers
John Deere has launched a new rewards program that can mean sizable discounts, financing offers and other benefits for the company’s loyal customers. GreenFleet Loyalty Rewards is meant to pay back customers who have purchased at least two qualified John Deere products. When a customer purchases at least two machines, they are automatically enrolled in […]
May 22, 2013
Business
ARA forecasts U.S. equipment rental to generate $33.6 billion this year
The American Rental Association expects the U.S. equipment rental industry to generate $33.6 billion in revenue this year, an increase of 7.3 percent over 2012. The data is part of ARA’s Rental Market Monitor which was recently updated. The ARA expects construction and consumer spending to be the most important drivers behind equipment rental in […]
May 22, 2013
Business
Construction fuel consumption falls 0.74% in April
The WEX Construction Fuel Consumption Index fell for the second consecutive month in April, indicating a slowing in construction activity. The construction industry’s fuel consumption fell by by 0.74 percent in April after falling an adjusted 1.2 percent in March. The original reading was a dip of 0.9 percent. Nevertheless, WEX notes that April marks […]
May 21, 2013
Business
Navistar names PACCAR veteran Bill Kozek VP of North America Truck and Parts
Bill Kozek, a 26-year veteran of PACCAR, has been named president of Navistar’s North America Truck and Parts business. Kozek, 50, will replace Jack Allen who was appointed by Navistar to chief operating officer last month. “Bill is a recognized and respected leader in the North America truck industry, having successfully run both the Peterbilt and […]
May 20, 2013
Business
Bloomberg profile of Caterpillar CEO focuses on gap between profits and worker pay
Bloomberg Businessweek recently profiled Caterpillar CEO Doug Olberhelman, pulling very few punches in the process. The profile refers to Olberhelman as a man with a “serious demeanor” and calls him the “mouthpiece” of American manufacturing. It details his work to loosen trade restrictions, lower the corporate tax rate and increase infrastructure spending, as well as his […]
May 20, 2013
Business
Construction crew solves the Salem mystery of St. Joseph’s statue
For 64 years people in Salem, Massachusetts wondered “Where did St. Joseph go?” Between 1911 and 1944, a 12-foot-tall statue of St. Joseph stood watch 100 feet above the ground in the edifice of the church in Salem that bore his name, according to The Salem News. Though St. Joseph Church burned down in the […]
May 17, 2013
Business
Housing starts tumble 16.5% in April, but surge in permits suggests continued recovery
The start of construction on homes fell drastically in April, one month after reaching a level of home starts the country had not seen since before the recession. However, a surge in building permits hints that the damage might not be too bad. Construction began on homes at a seasonally adjusted annual rate of 853,000, […]
May 16, 2013
Business
Construction crew bulldozes 2,300-year-old Mayan ruin for road fill
The Nohmul complex stood for 2,300 years as a jewel of Belizean tourism and a beautiful example of the sheer talent and engineering skill of ancient construction crews. All of which makes it tragic that what time could not bring down, a modern construction crew did with complete disregard. According to the Associated Press, a […]
May 16, 2013
Business
Builder confidence up on strengthening housing market, but majority rate still rate it “fair” or “poor”
Though the reading is not at a point where more home builders view the current market for newly-built, single-family as “good” than “poor,” builder confidence improved three points to a 44 on the May edition of the National Association of Home Builders/Wells Fargo Housing Market Index.  The monthly survey asks home builders to rate current […]
May 15, 2013
Business
John Deere reports record profits in 2nd quarter; construction equipment expected to continue decline
Attributing the news to higher sales of farm equipment, John Deere is reporting its highest ever quarterly net profit of $1.084 billion in the second quarter ending April 30. Compared to the same quarter a year ago, profit was up 2.6 percent from $1.056 billion. For the first six months of the fiscal year starting […]
May 15, 2013
Business
A history of American infrastructure funding and how to go about establishing new financing tools
Just about anyone with knowledge on the subject of infrastructure and transportation funding in the U.S. that you talk to will tell you that big changes need to be made in order to remain competitive with the rest of the world. The truth is, our infrastructure is falling apart. The former Transportation Secretary has said […]
May 15, 2013
Business
10 weeks of declines snapped, but diesel prices expected to continue to fall
A 10-week streak of decreases in the price of on-highway diesel fuel was snapped this week as the national average rose 2 cents to $3.86 per gallon. However, the Department of Energy, which compiles the price data, has forecast that diesel prices will continue to fall. According to this week’s price data, diesel prices are […]
May 14, 2013
Business
Bobcat R&D expansion brings total Bismarck investment to $35 million
Bobcat recently broke ground on a new $20 million renovation and expansion at the Northern Plains Commerce Centre in Bismarck, North Dakota. Comstock Construction Inc. of Wahpeton, North Dakota is building the new facility and expanding the original building built in 2005. When complete, Bobcat will have invested $35 million total in Bismarck. The new building, […]
May 14, 2013
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