Tag: business: Page 24

Dealers

Caterpillar profit drops 41% in Q2 as oil, gas, mining continue to hurt sales

Reporting a second quarter that saw sales fall 16 percent, Caterpillar has again cut its outlook for 2016. Facing continued downturns in the oil, gas and mining industries coupled with sluggish economic conditions in developing countries, sales and revenues fell to $12.3 billion while operating profit dropped 41 percent to $785 million. Cat chairman and CEO […]

July 27, 2016

Dealers

Komatsu acquires mining equipment maker Joy Global for $3 billion

Largely unscathed by the sharp declines in demand for mining equipment that have been bleeding money from competitor Caterpillar over the last few years, Komatsu has decided now is the time to become a more meaningful player in the industry, announcing it will acquire Wisconsin-based surface and underground mining equipment manufacturer Joy Global. Joy Global, founded in […]

July 22, 2016

Dealers

IronPlanet now offering instant financing on equipment purchases

Online used heavy equipment seller IronPlanet has introduced an instant financing option customers can choose before or after making a bid or purchase. Customers of IronPlanet, GovPlanet or TruckPlanet can now apply for pre-approval for financing before they bid, or they can opt for instant financing through Express after purchasing a piece of equipment. Express is […]

July 13, 2016

Business

“Whatever it takes” the philosophy behind resilient New York contractor Gorick Construction

“Whatever it takes” on the surface may bring up thoughts of driving a square peg through a round hole with an enormous hammer, but for Al Gorick, it signifies a philosophy that a job will be done the right way, no matter what resources are needed. The slogan is part of Gorick Construction’s logo, and […]

July 12, 2016

Business

Construction spending falls 0.8% in May

With declines in nonresidential spending and a flat month for residential, total U.S. construction spending fell 0.8 percent in May, according to preliminary data from the Commerce Department. Spending is at a seasonally adjusted annual rate of $1.143 trillion. Despite two consecutive months of monthly declines, spending remains 2.8 percent above the May 2015 rate. […]

July 6, 2016

Business

Liebherr reorganizes U.S. businesses under new umbrella company

German heavy equipment manufacturer Liebherr has announced that it will transition its current U.S.-based operations into a mixed-sales company called Liebherr USA. The reorganization went into affect June 1. A team of three managing directors will helm the company: Torben Reher; Peter Mayr, head of the Liebherr Construction Equipment division; and Daniel Pitzer, head of the […]

June 3, 2016

Business

Construction spending falls 1.8% in April

Monthly declines in both residential and nonresidential construction led to a 1.8-percent decrease in U.S. construction spending during April. Spending is at a seasonally adjusted annual rate of $1.134 trillion and remains up 4.5 percent from the April 2015 rate, according to preliminary data from the Commerce Department. Total residential spending fell 1.5 percent to $445 […]

June 1, 2016

Business

Home starts up in April but down year over year due to multi-family drop

U.S. home starts grew by 6.6 percent during April on gains from both single- and multi-family units, but the year-over-year count is down due to starts on apartments dropping from the April 2015 figure. Total starts increased in April to a seasonally-adjusted annual rate of 1.172 million. That figure is down 1.7 percent from the April 2015 figure. […]

May 24, 2016

Business

Terex walks away from Konecranes merger to continue talks with Zoomlion

Three months after receiving an acquisition offer from Chinese equipment manufacturer Zoomlion, Terex has announced that it has mutually agreed with Konecranes to terminate plans to merge the two companies. Announced in August 2015, the merger would have placed 60 percent of the new company (to be called Konecranes Terex) in the hands of Terex shareholders, with […]

May 18, 2016

Business

Minn. bill would ease restrictions on construction material, aggregate hauling

Minnesota has laid the groundwork for a significant change in state transportation policy which would benefit everyone from companies to commuters, says Fred Corrigan, executive director of the Aggregate & Ready Mix Association of Minnesota, in a column published by the Mesabi Daily News. Currently, Minnesota businesses that haul construction materials are subject to restrictive […]

May 10, 2016

Business

Why this Colorado excavation contractor refuses to call his staff “employees”

Although it’s often said that you can’t please everyone all the time, Bradley Grubaugh says he’s sure going to try. With 35 years of construction experience, Bradley knew a thing or two about how to keep both clients and employees happy when he formed Bradley Excavating in Colorado Springs in 2002. With a scope of […]

May 4, 2016

Business

Construction spending up in March with jump in apartment starts

Mainly due to gains in multi-family residential building, U.S. construction spending rose 0.3 percent in March to a seasonally adjusted annual rate of $1.137 trillion, according to preliminary data from the Commerce Department. Total spending is up 8 percent over the March 2015 total. Residential spending is now up 7.6 percent over its own year-ago […]

May 2, 2016