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Business: Page 161
Business
Caterpillar names Tom Bluth VP of Mining Products
Caterpillar announced today that Tom Bluth will be moving from his post as vice president of the company’s Earthmoving Division to become vice president for Mining Products. Bluth replaces Luis De Leon, who left the company shortly after an accounting scheme was uncovered at Zhengzhou Siwei Mechanical & Electrical Manufacturing Co., a subsidiary of ERA Mining […]
February 15, 2013
Business
$7 billion in federal highway funds obligated so far in current fiscal year
Federal funds obligated by federal, state and local departments of transportation (DOTs) have increased $7 billion during the current fiscal year which began last October 1, according to the according to the American Road & Transportation Builders Association’s (ARTBA) latest analysis of Federal Highway Administration (FHWA) data. That’s an increase of 56 percent over the $4.5 […]
February 15, 2013
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October 9, 2025
Business
Terex Minerals Processing Systems unaffected by Terex roadbuilding sale to Fayat Group
More news today in the wake of Terex’s decision to sell certain Roadbuilding product lines to the Fayat Group.unit announced today that it would not be affected by the decision. A range of crushing equipment and wheeled plants are included in the Terex MPS lineup, which originally joined Terex as part of the company’s Cedarapids […]
February 14, 2013
Business
Caterpillar CEO: Growth, immigration and tax code reforms key to job creation in U.S.
After receiving a mention during President Barack Obama’s State of the Union address, Caterpillar’s CEO Doug Olberhelman was invited to share his thoughts on the U.S. economy and job creation on CNBC’s Squawk Box. Olberhelman said he was “surprised” but “happy” to hear Obama’s kudos for bringing jobs back into the country from Japan. And […]
February 14, 2013
Business
Transportation Sec. LaHood praises Obama’s focus on infrastructure in State of the Union
President Barack Obama spent a great deal of time discussing the sad state of American  infrastructure in his State of the Union address Tuesday night, saying that the structurally deficient nature of nearly 70,000 American bridges hurts the country’s chances at attracting business and creating new jobs. Just days before, U.S. Transportation Secretary Ray LaHood […]
February 14, 2013
Business
John Deere reports record first quarter income of $650 million
John Deere released its first quarter earnings report this morning, announcing a record $650 million in income as of January 31. That’s a whopping 21 percent increase over profits for the same quarter last year. The big gains in income are largely due to a 16 percent sales increase in Deere’s Agriculture and Turf division. […]
February 13, 2013
Business
Obama stresses importance of construction, infrastructure, skilled labor in State of the Union
In his State of the Union address Tuesday night, President Barack Obama stressed the great importance of construction, housing, infrastructure, manufacturing and energy in creating new jobs and aiding the ongoing recovery of the American economy. Obama spent several minutes of the address discussing the sad state of the country’s infrastructure, which he said is […]
February 12, 2013
Business
POLL: Are you optimistic about the construction industry in 2013?
There are plenty of people who get paid to make forecasts regarding how successful or unsuccessful our industry will be. We report on some of those forecasts and predictions right here. However, we wanted to see what you, the reader think about the year ahead. Answer in our poll below and tell us why you […]
February 12, 2013
Business
Trimble approves two-for-one stock split
Trimble’s Board of Directors have approved a two-for-one split of all outstanding shares of the company’s common stock. The record date for the stock split is expected to be Mar. 6, 2013 with new shares expected to be distributed on or about Mar. 20, 2013. Each shareholder on record at the end of the business day on […]
February 12, 2013
Business
Nonresidential construction index stagnates year-to-year, mixed outlook for 2013
The FMI Nonresidential Construction index rose to 58.1 in the first quarter of 2013, up 2.6 points from Q4 2012’s 55.6. The index sits at the same mark of 58.1 as one year ago, but up greatly from the 35.6 in Q1 2011. With the fiscal cliff and great political uncertainty of 2012 behind it, […]
February 12, 2013
Business
Mahindra competes purchase of Navistar stake in India joint venture
It was announced this morning that with regulatory approval in India, Mahindra & Mahindra Ltd. completed its purchase of the Navistar Group’s stake in Mahindra Navistar Automotives Ltd (MNAL) and Mahindra Navistar Engines Pvt Ltd (MNEPL). Mahindra has now taken complete ownership of the operations and will continue to sell MNAL and MNEPL products. The […]
February 12, 2013
Business
CBO: Highway Trust Fund should fulfill obligations through 2014
According to the latest forecast from the Congressional Budget Office, the Highway Trust Fund will have insufficient revenues by the end of 2015, but should be able to fulfill its obligations through 2014. At the beginning of this year, the HTF held $10 billion and the CBO forecast expects that amount to dwindle by half […]
February 11, 2013
Business
Terex sells certain roadbuilding product lines in U.S. and Brazil to Fayat
Terex announced today that it is selling off its roadbuilding equipment manufacturing operations in Brazil and certain mobile roadbuilding lines in the U.S. to the Fayat Group (Bomag and Marini). Terex will divest its asphalt plants and pavers manufactured in Porto Allegre, Brazil, and assets for the asphalt paver, reclaimer stabilizer and material transfer product […]
February 11, 2013
Business
Dealers surveyed by GE Capital expect construction equipment sales to increase in 2013
An encouraging 75 percent of construction equipment dealers surveyed by GE Captial Equipment Finance said they expect retail sales of construction equipment to increase at least 3 percent this year. The finding is 10 percent better than last year’s and 24 percent said they expect their sales to increase betwen 6 and 8 percent. The […]
February 11, 2013
Business
Iron Planet wins first round against Ritchie Bros. in suit involving Iowa contractor
IronPlanet announced Friday that an Iowa District Court jury ruled in favor of their suit against Ritchie Bros. Auctioneers that contended Ritchie interfered in a contract between IronPlanet and customer Scheckel Construction, Bellevue, Iowa. IronPlanet says the jury found that Ritchie Bros. “intentionally and improperly interfered with a valid April 2011 contract between IronPlanet and […]
February 8, 2013
Business
Transportation Sec. LaHood: “America is one big pothole”
During an interview on National Public Radio’s “The Diane Rehm Show,” outgoing U.S. Transportation Secretary Ray LaHood asked lawmakers and whoever replaces him to think outside of the box in order to find more transporation funding. LaHood voiced his disappointment with infrastructure spending in the U.S. and the MAP-21 transportation bill Congress passed last summer, […]
February 8, 2013
Business
New York City plans to use $1.8 billion in federal Sandy relief to rebuild homes
Mayor Bloomberg announced on February 6 plans to use some of New York City’s federal Superstorm Sandy aid money to repair homes, install generators at public housing complexes and create new storm-resistant technology, the Associated Press reported. Among other plans for the city’s aid money are nearly $200 million in grants and loans for businesses […]
February 7, 2013
Roadbuilding
A Cold-Mix Performance Evaluation by City of Lexington, Ky.
Contributed by Streets & Roads Division in Lexington, Ky., directed by Sam Williams Striving to improve the overall handling process for potholes, The City of Lexington (Kentucky) Streets and Roads Department initiated a cold mix evaluation program to identify possible advantages using alternative pothole repair material. Multiple parameters were considered in determining which candidate materials […]
February 7, 2013
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