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Economic trends: Page 15
Roadbuilding
ABC: ‘Stop using 3 percent withholding provision as budget gimmick’
Associated Builders and Contractors (ABC) issued the following statement May 26 on a hearing by the U.S. House of Representatives Small Business Committee Subcommittee on Contracting and Workforce titled “Defer No More: The Need to Repeal the 3 Percent Withholding Provision.” The committee examined the effect of Section 511 of the Tax Prevention and Reconciliation […]
May 26, 2011
Roadbuilding
Diesel drops under $4
For a third straight week, the national average retail price of diesel fell during the week ended May 23, according to the U.S. Department of Energy’s Energy Information Administration. The national average price plunged 6.4 cents to $3.997, the first time it’s been below $4 since early April. The weekly price decrease was the largest […]
May 26, 2011
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Roadbuilding
PPI continues to rise
The Producer Price Index for finished goods rose 0.8 percent in April, seasonally adjusted. This advance followed increases of 0.7 percent in March and 1.6 percent in February. Prices for finished goods less foods and energy moved up 0.3 percent. To read the full report, click here.
May 12, 2011
Roadbuilding
Mike Rowe of Dirty Jobs testies before Congress
Mike Rowe, host of the Discovery Channel’s TV program Dirty Jobs with Mike Rowe, on May 11 testified before the Senate Commerce, Science and Transportation Committee’s hearing on “Manufacturing Our Way to a Stronger Economy” in support of U.S. manufacturing jobs and the Association of Equipment Manufacturers’ (AEM) I Make America campaign. In his testimony, […]
May 12, 2011
Roadbuilding
What AASHTO thinks about report ‘Measuring Transportation Investments: The Road to Results’
The American Association of State Highway and Transportation Officials on May 11 commented on the conclusions of a new report released by the Pew Center on the States and the Rockefeller Foundation. A statement by John Horsley, AASHTO executive director, on the Pew/Rockefeller Report “Measuring Transportation Investments: The Road to Results“ follows: “We are pleased […]
May 11, 2011
Roadbuilding
Report: Only 13 measure performance of transportation dollars
States spent an estimated $131 billion on transportation in fiscal year 2010, but many cannot answer critical questions about what returns this investment is generating, according to a new report by the Pew Center on the States and the Rockefeller Foundation. The study comes at a time when some members of Congress are proposing that […]
May 11, 2011
Roadbuilding
Associated Builders and Contractors lauds 3 percent tax deferral decision by IRS
Associated Builders and Contractors (ABC) today welcomed the decision by the Internal Revenue Service (IRS) to defer for one year – from Jan. 1, 2012 to Jan. 1, 2013 – the withholding of 3 percent tax on all payments for goods and services made by the federal, state, and local governments with total expenditures of […]
May 9, 2011
Roadbuilding
Secretary of Labor Solis: U.S. labor market encouraging job growth
Secretary of Labor Hilda L. Solis issued the following statement on the April 2011 Employment Situation report released on May 6: “Our nation’s labor market registered encouraging job growth in the month of April. Nonfarm payroll employment added 244,000 jobs, exceeding expectations, with the private sector adding 268,000 jobs. The unemployment rate edged up to […]
May 9, 2011
Roadbuilding
Eagle Materials earns $462.2 million in revenue in FY 2011
Eagle Materials Inc. on May 5 reported financial results for fiscal year 2011 and the fiscal fourth quarter ended March 31, 2011. Notable items for the fiscal year and quarter include the following: Fiscal year 2011 revenues of $462.2 million. Fiscal year 2011 net earnings of $14.8 million, or $0.34 per diluted share. Net debt-to-total […]
May 6, 2011
Roadbuilding
Vulcan Materials Q1 results released
Vulcan Materials Co., the nation’s largest producer of construction aggregates announced results for the first quarter ended March 31, 2011. A quick recap: First Quarter Summary and Comparisons with the Prior Year Freight-adjusted aggregates pricing approximated the prior year level. Aggregates shipments declined about 3 percent, reflecting varied market conditions across our footprint as well […]
May 5, 2011
Roadbuilding
Preliminary steel imports increase 33% in March, import market share rises to 21%
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,446,000 net tons (NT) of steel in March, including 1,850,000 NT of finished steel (up 33 percent and 29 percent, respectively, from February final data). Annualized total and finished steel imports in 2011 […]
April 27, 2011
Roadbuilding
Vulcan to host Q1 earnings call on May 5
Vulcan Materials Co. will release earnings after the close of business on May 4, 2011 and host a conference call at 9 a.m. CDT (10 a.m. EDT) on May 5, 2011. To participate by phone, investors and other interested parties can call 866-788-0543 about 10 minutes before the scheduled start. The access code is 62767134. […]
April 26, 2011
Roadbuilding
United Rentals Q1 results: $523 million total revenue
United Rentals Inc. announced financial results on April 19 for the first quarter 2011. Total revenue was $523 million and rental revenue was $434 million, compared with $478 million and $380 million, respectively, for the same period last year. On a GAAP basis, the company reported a first quarter 2011 net loss of $20 million, […]
April 21, 2011
Roadbuilding
MSHA reports fatality at Utah sand and gravel facility
In the wake of a fatality at a Utah sand and gravel operation, the Mine Safety and Health Administration (MSHA) has issued a number of recommendations as reminders to producers. A 56-year-old equipment operator with 10 years of experience was killed on Feb. 24, 2011 at Bolinder Resources LLC – Crushing and Sampling Unit, the […]
April 20, 2011
Roadbuilding
Granite awarded $41 million rail relocation project in Northern California
Granite Construction Inc., one of the nation’s largest infrastructure contractors, announced the award of a $41 million rail relocation project by the City of Sacramento. Granite booked the project into its first quarter 2011 backlog. Located in downtown Sacramento, the rail yards project includes the relocation of about 2.3 miles of heavy rail track, major […]
April 20, 2011
Roadbuilding
ABC to House: ‘Repeal the Davis-Bacon Act’
In testimony before the U.S. House Committee on Education and the Workforce Subcommittee on Workforce Protections on April 14, Associated Builders and Contractors (ABC) member Thomas Mistick, principal of Church Restoration Group, Cranberry Township, Pa., stated that the Davis-Bacon Act, as administered by the U.S. Department of Labor, “hinders economic growth, increases the federal deficit; […]
April 14, 2011
Roadbuilding
U.S. DOT, Idaho town sign $3.5 million agreement for road upgrades
The U.S. Department of Transportation and the City of Hailey, Idaho, have signed a $3.5 million agreement that will allow work to begin on much-needed upgrades to Woodside Boulevard, U.S. Transportation Secretary Ray LaHood announced. “This project will make it safer for the thousands of people who depend on Woodside Boulevard each day,” said LaHood. […]
April 13, 2011
Roadbuilding
NY gets $3.3 million for track, rail capacity
The State of New York is receiving $3.3 million to add track and rail capacity in the congested Upstate New York area, advancing the state’s high-speed intercity passenger rail program, according to U.S. Transportation Secretary Ray LaHood. The project will relieve congestion, leading to greater reliability and faster travel times, and is necessary to achieve […]
April 13, 2011
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