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Business: Page 95
Business
Trump to nominate fast food exec Puzder as Labor Secretary
President-elect Donald Trump continues to choose cabinet members for his administration and recently announced plans to nominate Andrew Puzder, 66, as Secretary of Labor, The New York Times reports. Puzder is the CEO of CKE Restaurants, Inc., the company that owns the Hardees and Carl’s Jr. fast food franchises. He  has been an outspoken critic of the Obama […]
December 14, 2016
Dealers
Business Roundup: News on CTL market share, a new Hyundai CE COO, and new dealer locations
Why compact track loaders are still stealing skid steer market share at a relentless rate At some point, compact track loaders (CTLs) will quit taking market share from skid steer loaders. But for now, the relentless march of CTLs continues, driven by the narrowing of the cost differential between the two machine types, CTLs’ enhanced […]
December 12, 2016
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February 1, 2025
Business
Here are the 12 finalists for our 2017 Contractor of the Year award
While it came down to some tough decisions, the Equipment World editors have named the 12 finalists for the magazine’s 2017 Contractor of the Year award, now in its 17th year. Sponsored by Caterpillar since its inception in 2000, the Equipment World Contractor of the Year event honors 12 finalists during a weekend event that […]
December 9, 2016
Business
Hyundai CE taps Kong as new COO
Hyundai Construction Equipment has named 30-year company veteran Ki Young Kong as its new chief operating officer. Kong, who has held numerous positions at Hyundai CE including head of global forklift sales and head of production,  replaces S.G. Rhee who recently retired. Beyond steering “the company through challenging times amid a recessive economy in global markets […]
December 7, 2016
Business
Construction spending up 0.5% in October thanks to residential gains
U.S. construction spending rose 0.5 percent during October due to gains in homebuilding and government projects. Spending rose to a seasonally adjusted annual rate of $1.172 trillion and is 3.4 percent above the October 2015 mark, according to preliminary data from the Commerce Department. Spending in the private homebuilding sector rose 1.6 percent to $466 billion during October, […]
December 1, 2016
Contractor of the Year
Focus on top-notch employees, business diversity grows success for Missouri’s B&P Excavating
Mike Brown has never had a job that wasn’t in construction. For 17 years, he worked as a general contractor superintendent for a large construction company before venturing out on his own. He started in 1992 with just one backhoe. Now that backhoe – and the desire to make a mark his own way – […]
November 24, 2016
Dealers
Led by loader segment, global construction equipment market forecast to hit $289B by 2022
Market research and consulting firm Allied Market Research forecasts the global construction equipment market will create $288.8 billion by 2022, and will have a compound annual growth rate of 9.2 percent from 2016 to 2022. The findings are from the company’s recent “World Construction Equipment Market —Opportunities and Forecasts, 2014-2022” report. Allied has made a […]
November 17, 2016
Business
Home starts jump 25% in October with surge in multi-family building
Following two consecutive months of decreases, construction starts on homes in the U.S. jumped 25 percent in October largely due to a huge increase in multi-family starts. Home starts are at a seasonally-adjusted annual rate of 1.323 million, an increase of 23 percent over the October 2015 level, according to preliminary data from the Commerce […]
November 17, 2016
Dealers
JLG names Haynes marketing manager for vertical, low-level access product lines
JLG Industries has named Aaron Haynes as product marketing manager for the company’s vertical and low-level access product lines in North America. Products in this line, considered alternatives to ladders and scaffolding, include the EcoLift series, the 830 P push-around mast lift and LiftPod personal portable lifts. “We see great opportunity in the low-level access […]
November 11, 2016
Business
Construction spending falls 0.4% in September despite homebuilding gains
U.S. construction spending fell 0.4 percent in September as nonresidential spending declines wiped out homebuilding gains during the month. Construction spending is at a seasonally-adjusted annual rate of $1.150 trillion, according to preliminary data from the Commerce Department. With the September decrease, the spending rate is 0.2 percent below the September 2015 rate. Spending in the private homebuilding sector rose 0.5 […]
November 3, 2016
Dealers
CNH Industrial profit jumps in 3Q despite sales decline
Though the company continues to see sales declines in its agricultural equipment segment, CNH Industrial was able to report increased profit for the third quarter thanks to cost reductions and improved demand in certain markets. The company, which manufactures the Case and New Holland brands of heavy equipment, reported a 1.7-percent sales decline in the […]
November 1, 2016
Business
How Louisiana contractor Dieudonne Enterprises rose in Katrina’s wake
Hurricane Katrina is simply called “The Storm” in New Orleans, and that’s certainly a description of what it created in Tina Dieudonne’s life. Her small, tourist-related businesses took a hit in the storm’s aftermath, and she realized she needed to look for another opportunity. She found it in the massive rebuilding that consumed the city […]
October 28, 2016
Business
Former Caterpillar chairman and CEO Glen Barton dies
Caterpillar announced that its former chairman and chief executive officer, Glen Barton, has died at the age of 77. Barton had nearly 43 years of service with Caterpillar when he retired in 2004. “The Caterpillar family is extremely saddened by Glen’s passing,” current Caterpillar chairman and CEO Doug Oberhelman said in a company statement. “Glen’s legacy of […]
October 28, 2016
Dealers
Caterpillar dealer inventories down from 2015 with more “substantial” reductions coming
Aside from lower oil prices and sagging demand for mining equipment around the globe, sales of Caterpillar heavy equipment have also been negatively impacted by lower dealer inventories. In a statement on dealer inventories accompanying its third quarter earnings—which included reduced expectations for fiscal year 2016 sales—the company says dealer inventories in the third quarter of […]
October 27, 2016
Business
Before the snow flies, here’s how to properly winterize your heavy equipment fleet
Nothing is more annoying than a maintenance oversight causing a machine to go down –unless it’s a maintenance failure that causes a machine to go down in a howling artic wind. As the days get shorter and the weather turns colder, contractors are scrambling to finish projects. And while the work has to get done, […]
October 26, 2016
Business
Caterpillar sales down again in 3Q as profit plummets 48%
Citing economic weakness and idle mining trucks around the globe coupled with an “abundance” of used construction equipment and idle locomotives in North America, Caterpillar reported another down period for earnings today. With total sales falling 16 percent to $9.16 billion in the third quarter and profit plummeting 48 percent to $481 million, the world’s no. 1 […]
October 25, 2016
Business
Massive earthmover tire explosion shows why you should cage ’em before you inflate ’em
While being within 10 feet of this explosion means you’re going to have a bad time regardless, this incredible video from the folks at Ken-Tool shows how having a tire inflation cage can save your life or livelihood. In the video below, Ken-Tool’s 10-bar EarthMover tire inflation cage is put through OSHA certification explosion testing. […]
October 19, 2016
Business
U.S. home starts drop 9% in September on big drop in multi-family
Despite a jump in single-family starts, overall construction starts on new homes in the U.S. fell for a second consecutive month in September, dropping 9 percent to a seasonally-adjusted annual rate of 1.047 million homes. Home starts are down 12 percent from the September 2015 rate, according to preliminary data from the Commerce Department. An 8.1-percent […]
October 19, 2016
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