FMI elects new board member

Nov 24, 2008

FMI Corporation, management consultants and investment bankers for the building and construction industry, has elected J. Stuart Phoenix to their ten-member board of directors. Phoenix is a principal of the firm and is based in the Raleigh, North Carolina, office. He works with construction industry firms on mergers, acquisitions and ownership transfer.

In 1920, the Russell Grader Co. introduced the first self-propelled motor grader. The company's first 'Motor Patrol' built on a Caterpillar track-type tractor came out in 1926 (left), and two years later Caterpillar bought Russell and began producing the industry's first motor grader built as one dedicated machine. Nearly 100 years later, the Cat 140 (right) was the top-selling motor grader in the U.S. in 2024 for new financed equipment, according to EDA.

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