Tag: business: Page 28

Business

Intern awards showcase students who will shape construction industry’s future

When contractors talk about the lack of skilled construction labor, they’re usually referencing laborers and equipment operators. But there’s another lack that is just as troubling to many of the contractors I talk with: the people needed to run a company, especially when there’s no apparent next generation. Which is why I found being […]

November 27, 2015

Business

You probably pay your operators more than the Navy pays SEALs. So why don’t you get more out of them?

In a recent conversation with a group of contractors the subject of operator pay came up. As is typical, the contractors thought they were paying top dollar, but often getting lackadaisical performance in return. So I asked if anybody knew what the average Navy SEAL makes. As it turns out, the pay difference between SEALs […]

November 26, 2015

Business

Announcing the 12 finalists in our 2016 Contractor of the Year awards

We are proud to announce the 2016 finalists for our Contractor of the Year program, now in its 16th year. Sponsored by Caterpillar since 2000, the Contractor of the Year program honors 12 finalists during a weekend event that includes the March 6th NASCAR Kobalt Tools 400 race at the Las Vegas Motor Speedway. Held […]

November 25, 2015

Business

Caterpillar to close Kentucky plant, cut 50 jobs

As part of the company’s ongoing, extensive cost-cutting plan, Caterpillar announced over the weekend that it would close its Danville, Kentucky, facility. According to the Northern Kentucky Tribune, Cat will close the facility, which manufactures track-type undercarriage components, and move production to “other locations.” The closure and transition are expected to be completed by 2017. A […]

November 23, 2015

Dealers

Finning, world’s largest Cat dealer, to cut 1,100 jobs due to weak equipment sales

In the face of slumping demand, Canadian Caterpillar dealer Finning International Inc. has announced it will make significant workforce reductions to cut costs. Finning will cut approximately 1,100 employees—8 percent of its workforce. The company says by the end of 2015 it will have reduced its workforce by 13 percent or 1,900 employees. Since mid-2013 […]

November 16, 2015

Construction Equipment

Caterpillar lays off hundreds more, announces plant closing in North Carolina

With thousands of the company’s employees already accepting early retirement packages and hundreds more having received notice of being laid off, Caterpillar has wasted no time in implementing its sweeping cost reduction plan announced in September. And over the last few weeks, the company notified upwards of 1,000 more employees across four facilities, one outside the […]

November 16, 2015

Roadbuilding

Senate votes to meet with House to finalize highway bill

The United States Senate is officially set to meet with members of the House of Representatives in order to finalize a long-term transportation bill. The Senate passed the measure 78-20, with two senators abstaining, in order to send a delegation of Senators to meet with members of the House in a conference committee to work on the […]

November 10, 2015

Workforce

Construction adds 31,000 jobs in October

After four months of relatively small employment gains, the U.S. construction industry had a big October, adding 31,000 jobs to its total workforce. The industry now employs 6.434 million Americans, according to preliminary data from the Labor Department. October’s gains mark the seventh-consecutive month of gains for construction, which has added jobs each month of […]

November 8, 2015

Roadbuilding

House passes $325 billion, 6-year transportation bill

America’s infrastructure is much closer to having long-term funding following the House of Representatives overwhelmingly passing a new highway bill on Thursday. According to the House Transportation and Infrastructure Committee, after representatives voted on over 100 amendments, the Surface Transportation Reauthorization and Reform Act of 2015 was passed with a resounding 363-64 vote. The bill, which was […]

November 5, 2015

Business

Continued homebuilding gains boost construction spending 0.6% in September

Sizable gains in homebuilding again led to an increase in total U.S. construction spending in September. Construction spending increased 0.6 percent to $1.094 trillion during the month, according to preliminary data from the Commerce Department. Total spending is up 14.1 percent year over year. Private homebuilding increased 1.9 percent to $395 billion and is now […]

November 2, 2015

Business

Thousands of Caterpillar employees take early retirement as cuts continue

As Caterpillar begins its extensive workforce cuts around the world, thousands of employees have decided to take an offer of early retirement. Since announcing a cost-cutting plan in September, Caterpillar has laid off hundreds at its East Peoria plant and announced the closing of its global mining headquarters. And with the possibility that the workforce cuts […]

October 28, 2015

Business

Terex profit falls 24% in 3Q as sales slip across divisions

Citing a marketplace that “remains challenging,” Terex announced another down quarter for the year, with its Aerial Work Platforms division continuing to provide the majority of positive news for the company. Sales for the company fell 9.3 percent from third quarter 2014 to $1.6 billion while profit fell 24 percent to $44.8 million. “As mentioned last quarter, we are […]

October 27, 2015