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Business: Page 265
Business
Cat approves $7.5 billion stock repurchase program
Caterpillar approved a $7.5 billion share repurchase program and expects to complete the authorization within a five-year period. This is the company’s fourth stock repurchase program since 1995. In past programs, Caterpillar gave stockholders a total of $8.5 billion. Within the next few months, the company hopes to complete its current stock repurchase program, valued […]
October 4, 2007
Business
Ritchie Brothers experiences record auction sales
Ritchie Brothers Auctioneers recently announced a 30 percent gross auction sales increase of an estimated $2.72 billion for 2006. The company conducted 177 unreserved industrial auctions in 2006 in 13 countries. They also held 141 unreserved agricultural auctions and one unreserved real estate auction during the year. Average gross auction sales per industrial auction in […]
October 4, 2007
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Volvo Construction Equipment
September 22, 2026
Business
CNH Capital teams with Putzmeister America to offer new line of credit
CNH Capital, the financial service business of CNH Global, has teamed with Putzmeister America to offer a dedicated line of credit Putzmeister customers can use for their daily parts, service and accessory purchases. The line of credit, called Putzmeister Advantage Plus, will be offered to the company’s 25 distributors and 400 customers throughout North America. […]
October 4, 2007
Business
United Rentals to sell traffic control business
United Rentals announced December 26 it will sell the company’s traffic control business for $85 million in cash to HTS Acquisition, a newly formed entity between private equity investors Wynnchurch Capital Partners and Oak Hill Special Opportunities Fund. United Rentals’ traffic control business reported $270 million in revenues for 2005, or 8 percent of the […]
October 4, 2007
Business
Paccar experiences best quarter in company history
Paccar recently announced record earnings of $369.9 million for the second quarter and net income of $711.9 million for the first half of this year – the best quarter in the company’s 101-year history. The record revenues were an increase of 53 percent. Second quarter net sales and financial services revenues reached a record of […]
October 4, 2007
Business
Contractors see brighter economic outlook than other small-business owners
Construction contractors are more optimistic about the health of the general economy in the coming year and worry less about fuel and hiring than other small-business owners, according to a survey a business research group conducted. When it compared small businesses overall to construction companies, the International Profit Associates Small Business Research Board found construction […]
October 4, 2007
Business
Bush to sign highway bill at Caterpillar plant
President Bush will sign the $286.5 billion transportation bill Aug. 10 at a Caterpillar plant in Montgomery, Ill., where most of the company’s wheel loaders and excavators are manufactured. White House officials selected the plant Aug. 5 as the location where the president will sign the legislation. Allen Abney, a White House spokesman, told the […]
October 4, 2007
Business
Construction material prices diverge from usual indicators
Prices for many construction materials climbed at double-digit rates in 2004 and through September 2005 after little change in 2001 through 2003, while overall consumer and producer price indexes have remained moderate, according to a report by the Associated General Contractors of America. The first edition of the Construction Inflation Alert analyzes how producer price […]
October 4, 2007
Business
Equipment makers say industry growth to continue through 2005, into 2006
Even with the recent rash of hurricanes affecting the U.S. coast, construction equipment manufacturers expect overall industry growth to continue through 2006, but at a slower pace than 2005, according to an annual business forecast conducted by the Association of Equipment Manufacturers. In AEM’s “outlook” report, construction equipment business in the United States is anticipated […]
October 4, 2007
Business
Construction spending sets new record in August
Even though Hurricane Katrina succeeded in disrupting construction activity during August, construction spending for the month still managed to set a record high, according to figures the U.S. Commerce Department released Oct. 3. The $1.108 trillion annual rate for August was .4 percent above the revised July estimate of $1.104 trillion and 6.1 percent above […]
October 4, 2007
Business
Construction spending declines in June
Overall construction spending dropped 0.3 percent in June compared to May, marking a fourth consecutive month of decreased activity. The U.S. Department of Commerce estimated total spending for the month at a seasonally adjusted annual rate of $1.093 trillion. Still, the figure is 7.9 percent higher than the total for June 2004. During the first […]
October 4, 2007
Business
AGC economist asks Congress to simplify contractors’ taxes
Too many changes to too many tax rules are frustrating owners of small construction companies and forcing them to focus on becoming tax experts rather than on “building a strong economy,” an economist for a national contractors’ association told a Senate committee July 21. Ken Simonson, chief economist for the Associated General Contractors of America, […]
October 4, 2007
Business
Firm fined $29 million for concrete price-fixing scam
Contractors already paying higher prices for concrete because of the nation’s supply slump might have been over-charged by cheating concrete giants in one region of the country. Irving Materials, an Indianapolis ready-mix manufacturer and road subcontractor, manipulated prices on $225 million worth of ready-mix concrete from 2000 through May 25, 2004, according to the U.S. […]
October 4, 2007
Business
Home builder confidence reaches highest level this year
Expecting an increase in buyers, home builders are more optimistic this month than they’ve been all year, according to a builder confidence survey released June 15. The National Association of Home Builders/Wells Fargo Housing Market Index, which performs an expectation survey each month rating builders’ perceptions for business as “good,” “fair” or “poor,” announced a […]
October 4, 2007
Business
Bill could provide $1 billion for diesel engine retrofits
Several senators introduced legislation June 16 that would create a national grant and loan program designed to provide $200 million annually for five years to retrofit diesel engines. The Associated General Contractors of America, Caterpillar, Cummins and the Diesel Technology Forum are supporting the Diesel Emissions Reduction Act of 2005. Sen. George Voinovich, R-Ohio, is […]
October 4, 2007
Business
AEM elects 13 new members
The Association of Equipment Manufacturers has elected 13 companies as members in the international trade group, which provides business-development resources for companies that manufacture and market construction-related equipment, products and services. The new companies are: · Advantage Machine and Hydraulics Inc. (Nampa, Idaho), manufacturer of guardrail post installation equipment. · American Piledriving Equipment (Kent, Washington), […]
October 3, 2007
Business
Southern Fab to enter attachment industry
Since its creation in April 2007, Southern Fab has developed product, hired staff and prepared to enter the attachment manufacturing business. It has started production and distribution of stiff-arm and hydraulic weld-on thumbs, wheel loader rakes and construction forks. In the future the company plans to include a full line of attachments.
October 3, 2007
Business
Trimble Dimensions to be held in Las Vegas
Trimble will hold its International User Conference, also known as Trimble Dimensions, on November 5-7, 2007, at the Mirage Hotel in Las Vegas, Nevada. The conference theme will be “Transform Your Business with the Connected Site,” which will provide insight on how surveying, engineering, construction, mapping and geospatial professions can apply integration, positioning and communication […]
October 3, 2007
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