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Economic trends: Page 22
Roadbuilding
Granite Construction Q4 2009 results: Revenue down 27%, net income down 40% but balance sheet strong
Watsonville, Calif. -based Granite Construction Inc. on Feb. 24 reported it’s fourth-quarter 2009 quarterly and full-year earnings, showing that the major construction company hasn’t escaped the recession unscathed but it’s still doing well despite the current tough economy. (Click here for the full press release on Granite Construction.) “We delivered the goods on our projects in 2009 […]
February 25, 2010
Roadbuilding
Nevada obligates all $201 million stimulus funds
The Nevada Department of Transportation has obligated all $201 million of its American Recovery and Reinvestment Act Highway Funds, one month ahead of schedule. Of the $201 million that Nevada received as part of the federal ARRA highway funding, all 17 counties received funding totaling 69 projects statewide. More than $120 million went to projects […]
February 9, 2010
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Roadbuilding
Vulcan releases 4th-quarter results
Vulcan Materials Company announced results on Feb. 8 for the fourth quarter and full year ended Dec. 31, 2009. For the full press release, including tables and a breakdown of earnings, click here: Vulcan_4Q2009PressRelease. The following are the fourth quarter summary and comparisons with the prior year: · Net earnings from continuing operations were a […]
February 8, 2010
Roadbuilding
MoDOT has obligated all recovery act funds a month ahead of schedule
JEFFERSON CITY , Mo.– The Missouri Department of Transportation has obligated all of the $524.6 million it received in American Recovery and Reinvestment Act funds for MoDOT administered projects, meeting the required deadline a month ahead of schedule. State departments of transportation are required by ARRA guidelines to obligate (or commit funds to a specific […]
February 8, 2010
Roadbuilding
Federal Report Evaluates Condition & Performance of Nation’s Transportation System
Spending by all levels of government on the nation’s highways and transit lines has increased substantially in recent years but steep increases in construction costs have eroded the purchasing power of this investment, according to the U.S. Department of Transportation, which recently released its report documenting the conditions and performance of the nation’s transportation system. […]
February 8, 2010
Roadbuilding
AASHTO: Senate may divide finance bill; would extend highway, transit program
Senate leaders are considering a finance bill that would extend highway and transit program authorization until Dec. 31 and a job-creation bill that could include transportation infrastructure funds, the Association of American State Traffic and Highway Officials (AASHTO) News reports. According to the report, Senate Environment and Public Works Committee Chairwoman Barbara Boxer, D-CA, says […]
February 8, 2010
Roadbuilding
CNN report: Firms that broke the law still get stimulus money
The federal stimulus program is funding roadway construction in many Massachusetts towns. But more than one-half of the companies that have received taxpayer dollars to perform the work have a history of breaking the law. According to an investigation by Boston University’s New England Center for Investigative Reporting, more than half the companies given stimulus […]
February 4, 2010
Roadbuilding
Illinois giving $60 million for rail routes
Illinois will put $60 million in state capital funds toward Amtrak passenger rail routes from Chicago to Dubuque, Iowa, and the Quad Cities, the state’s governor Pat Quinn said on Saturday, according to a report from The Associated Press. The new service could result in up to 2,000 new jobs, including 650 construction jobs, according […]
February 1, 2010
Roadbuilding
Missouri receives $31 million for high-speed rail projects
Missouri was awarded $31 million for high-speed rail projects under the American Recovery and Reinvestment Act (ARRA), a.k.a. “the stimulus.” “We are very pleased. This is the best news we could have hoped for given the extreme competition for rail funding,” said Brian Weiler, director of Multimodal Operations at the Missouri Department of Transportation, in […]
January 29, 2010
Roadbuilding
$2 million awarded for transportation research and education
The U.S. Department of Transportation’s Research and Innovative Technology Administration (RITA) today awarded more than $2 million in grants to four University Transportation Centers (UTC) located throughout the United States to advance research and education programs that address critical transportation challenges facing our nation. UTCs conduct research that directly support USDOT priorities and are a […]
January 26, 2010
Roadbuilding
2009 a difficult year but ‘devastating’ to the construction industry
It’s no secret that it’s rough out there. It’s been that way for a while now. But in the construction industry, we’ve been one of the hardest hit job sectors. While only 5 percent of the U.S. workforce, construction workers shouldered 20 percent of non-farm layoffs last year, Stephen E. Sandherr said in the Associated […]
January 21, 2010
Roadbuilding
AASHTO says Associated Press economic stimulus analysis ‘flawed’
According to the American Association of State Highway and Transportation Officials (AASHTO), the Associated Press released a flawed analysis of the results of the economic stimulus spending on roads and bridges. Its authors overlooked the 210,000 direct on-project transportation jobs the House Transportation and Infrastructure Committee determined were created by stimulus. And it argues that […]
January 20, 2010
Roadbuilding
AASHTO says Associated Press economic stimulus analysis ‘flawed’
According to the American Association of State Highway and Transportation Officials (AASHTO), the Associated Press released a flawed analysis of the results of the economic stimulus spending on roads and bridges. Its authors overlooked the 210,000 direct on-project transportation jobs the House Transportation and Infrastructure Committee determined were created by stimulus. And it argues that […]
January 20, 2010
Roadbuilding
California Transportation Commission allocates $463 million to create jobs, improve aging transportation infrastructure
The California Transportation Commission (CTC) yesterday allocated $463 million to 87 transportation projects statewide. The money awarded includes $346 million from Proposition 1B, the $19.9 billion transportation bond championed by Governor Schwarzenegger and approved by voters in 2006, and $3.3 million from President Obama’s American Recovery and Reinvestment Act of 2009 (Recovery Act). “This investment […]
January 14, 2010
Roadbuilding
Obama signs defense bill which extends highway spending through February
Pres. Barack Obama signed the U.S. Department of Defense appropriations bill, which includes an extension of current surface transportation law (SAFETEA-LU) through February 28, 2010, according to a report from the American Concrete Pavement Association (ACPA). The U.S. Senate approved the House-passed measure on Saturday by a vote of 88-10, according to the ACPA report. House […]
December 21, 2009
Roadbuilding
Harsh Conditions in cement industry will persist through 2010
Although recent economic news and activity may suggest a technical end to the “Great Recession,” the conditions facing the construction industry are likely to remain weak for another year or more, causing a drag on cement consumption, according to the most recent economic forecast from the Portland Cement Association (PCA). PCA expects 2009 will represent […]
December 18, 2009
Roadbuilding
$450 billion omnibus spending bill passed; core highway program receives $41.07
Included in the $450 billion omnibus spending bill passed by the House on Dec. 10, a $67.9 billion Transportation-HUD spending bill lead the six-bill package. The House voted 221 to 202 in support of the bill, however, with the majority of Republicans opposing it, according to the Washington Watch report from the National Stone, Sand […]
December 16, 2009
Roadbuilding
U.S.DOT awards funds to Dallas, San Diego for new technology initiative to fight congestion
The U.S. Department of Transportation recently announced that the Dallas and San Diego areas will receive $14 million as the nation’s first demonstration sites for new Intelligent Transportation System (ITS) technologies that help fight congestion and enhance travel. The Integrated Corridor Management (ICM) initiative will help the Dallas and San Diego metro areas become “living laboratories” […]
December 16, 2009
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