Tag: business: Page 35

Roadbuilding

Virginia DOT cuts loose US 460 Mobility Partners from $300 million project

The Virginia Department of Transportation (VDOT) has end its agreement with US 460 Mobility Partners LLC over the lack of work done on U.S. 460, a 55-mile highway project that would have cost an estimated $300 million, according to a report by the Richmond Times-Dispatch. Contract work on the project was stopped back in March […]

April 17, 2015

Business

Indiana Senate passes repeal of common construction wage; Gov. Pence expected to sign

Amid a storm of protest, the Indiana Senate on Wednesday passed the repeal of a state law which sets baseline wages for construction workers on certain public projects. According to a report from the Indianapolis Star, the Senate voted 27-22 in favor of House Bill 1019. The House passed the bill February 23. Before passing the bill, the Senate made […]

April 16, 2015

Business

Booming crane market a welcome sign to strengthening U.S. construction industry

As one of the most expensive heavy equipment categories there is, when contractors and rental outfits are buying lots of cranes, you can safely conclude things are going pretty well in the construction industry. And that’s the gist of a recent analysis of the market by Citi’s Timothy Thein, according to a report from Business Insider. The report offers […]

April 13, 2015

Business

Lafarge, Holcim tap Olsen as CEO, effective when the companies merge

In a move the company hopes will please jittery shareholders, the Lafarge and Holcim boards of directors announced the appointment of Eric Olsen as the future CEO of the merged companies. Olsen is currently executive vice president of operations at Lafarge. He has dual American and French citizenship and has extensive international experience, as well as experience […]

April 10, 2015

Business

Construction employment fell in March, snapping a 14-month streak of job gains

For the first time since December 2013, U.S. construction industry employment has fallen. According to preliminary data from the Labor Department, U.S. construction firms lost 1,000 jobs in March. The industry now employs 6.344 million Americans. The new data also revised downward the employment figure for February from the previously reported 6.354 million, to 6.345 million. The […]

April 3, 2015

Business

How a contractor pursued delay damages against the U.S. Navy using the Eichleay formula

In a recent case involving work for the U.S. Navy — Appeal of Alderman Building Company, Inc. (ASBCA No. 58082, December 9, 2014) — a contractor was allowed to proceed with its claim for delay damages using the Eichleay formula. The Eichleay formula is a widely accepted method used to quantify a contractor’s unabsorbed overhead […]

April 3, 2015

Business

IronPlanet, Cat Auction Services complete merger

With the addition of access to late model, low-hour Caterpillar equipment, IronPlanet chairman and CEO Greg Owens said his company’s merger with Cat Auction Services will “drive value and services to all of our buyers and sellers.” The merger, announced in December, was completed April 2. “I am confident that our marketplace offerings will enable our […]

April 3, 2015

Business

KHL: Construction equipment revenues down as manufacturers trade places in top 10 rankings

Caterpillar and Komatsu remain the no. 1 and no. 2 construction equipment manufacturers in the world, respectively, to no surprise according to the latest edition of KHL’s annual Yellow Table study. However, four manufacturers traded places in the top 10. Volvo and Hitachi swapped, as did Terex and Liebherr though the publication does not note exactly […]

April 2, 2015

Business

U.S. construction spending flat in February

Construction spending in the U.S. was flat during February, the result of a slight increase in private construction and a decrease in government spending. Total spending fell 0.1 percent during the month to $967.1 billion, according to preliminary estimates from the Commerce Department. Spending was up 2.1 percent over February 2014. Residential and nonresidential construction spending both […]

April 1, 2015

Business

Holcim shareholders threaten merger plans with Lafarge…again

Shares in Lafarge fell by approximately 2 percent Monday after two Holcim shareholders voiced their discontent with the revised merger terms that were put in place on March 20 to make Holcim shareholders happy and keep the merger moving forward. According to a report from Reuters, Russian businessman Filaret Galchev, Holcim’s second-largest shareholder who owns a […]

March 31, 2015

Roadbuilding

More than half of heavy/highway contractors see bid volume increase for private work, HCSS survey finds

HCSS, a construction estimating software developer, has released the findings from its “2015 Heavy Civil/Infrastructure Estimating Survey,” an annual review that looks at issues affecting the job estimating side the heavy/highway industry. The survey received responses from 359 companies from 51 states and provinces from the U.S. and Canada. Canada represented 7 percent of the […]

March 30, 2015

Roadbuilding

Holcim-Lafarge merger back on track

The short-lived hold on the Holcim-Lafarge merger has ended, with the cement companies jointly stating they have “reached an agreement on revised terms for the merger of equals between both companies.” Holcim previously delayed the merger due to a disagreement of terms on the deal. The companies now expect it to close in July 2015 after […]

March 25, 2015