Tag: business: Page 41

Business

Will the plunge in crude oil prices kill the fracking boom?

For the last few years the conventional wisdom has been that fracking and oil and gas extraction in shale will continue to be profitable as long as crude oil prices remain above $70 a barrel. Below that point, middle eastern crude, which can be pumped out of the ground for less than $20 a barrel […]

December 23, 2014

Business

Tadano America comic book embezzler named one of top 10 costliest frauds

The $9.3 million embezzlement by the former head of legal affairs and human resources at Tadano America was among the top 10 costliest embezzlements reported in the 2013 Marquet Report on Embezzlement, released last Friday. The Marquet report delves into white collar fraud on cases where at least $100,000 was alleged to have been misappropriated. […]

December 23, 2014

Construction Equipment

Terex, Manitex finalize skid steer/compact track loader joint venture

The joint venture between Terex and Manitex International has been completed, making Manitex the majority owner of ASV. Terex is selling 51 percent of ASV to Manitex. The joint venture will manufacture skid steers and compact track loaders. ASV will continue to sell its skid steers and compact track loaders under the Terex brand. Ron DeFeo, […]

December 23, 2014

Business

Contractors, construction equipment manufacturers have much to gain from restoration of trade with Cuba

Though the restoration of diplomatic relations between the U.S. and Cuba has a long way to go, construction is firmly planted among the industries with the most to gain from the reversal of the half-century-old political stalemate announced by President Barack Obama last week. On Wednesday, Obama announced that he was ordering a full restoration […]

December 22, 2014

Business

IronPlanet and Cat Auction Services announce merger

Online equipment marketplace IronPlanet and the Caterpillar dealer channel for used equipment sales, Cat Auction Services, have announced a merger. The two companies promise a “unique auction experience, backed by technology.” The merger looks to be a move by IronPlanet to incorporate onsite auctions into its currently online-only format and caps off a pretty big […]

December 22, 2014

Business

Interchange projects in Norman amount to Oklahoma DOT’s largest awarded contract ever

The reconstruction of two interchanges on Interstate 35 in Norman has generated the single largest construction contract ever awarded by the Oklahoma Department of Transportation. The department awarded the contract to Sherwood Construction Company of Tulsa with a $71 million base bid with possible financial incentives. The contract calls for the reconstruction of the northern half […]

December 18, 2014

Business

Home starts fall 1.6% in November as builder confidence slips

The rate of construction on new single family homes fell in November and with it went the rate of all U.S. home starts for the month. Construction on single- and multi-family homes fell 1.6 percent in November to a seasonally adjusted annual rate of 1.028 million, according to preliminary data from the Commerce Department. The latest report […]

December 16, 2014

Business

Congress passes $1.1 trillion spending bill; cuts $5 billion from federal construction accounts

Two days after the legislation was passed by a tight vote in the House, the Senate passed a $1.1 trillion spending bill Saturday night that includes both good and bad news for federal construction accounts in 2015. The bill keeps the government funded through September, when the fiscal year ends. The Senate passed the spending […]

December 15, 2014

Business

Arson suspected in gigantic fire that destroyed apartment complex under construction in downtown Los Angeles

Police and fire officials in Los Angeles have opened a criminal investigation into a massive fire that broke out early Monday morning, engulfing an entire city block and destroying most of an apartment complex under construction. According to a report from the Los Angeles Times, the fire broke out around 1:20 a.m. Monday at the downtown […]

December 10, 2014

Business

Construction adds 20,000 workers in November, but unemployment rises

With an addition of 20,000 workers during November, the U.S. construction industry added employees to its workforce for an 11th consecutive month. The industry now employs 6.109 million Americans, according to preliminary data from the Labor Department. That’s the highest employment mark for construction since April 2009 when it employed 6.154 million people. The new […]

December 8, 2014

Business

Ritchie Bros. 3Q auction proceeds up, revenues down; announces management, structure changes

Ritchie Bros. says it saw a record third quarter in gross auction proceeds, posting $886.9 million for the period, up 12 percent compared to last year. The company says it achieved more than $4 billion in gross auction proceeds for the last four quarters, which is a first for the company. Adjusted net earnings, however, […]

December 3, 2014

Construction Equipment

New financed construction equipment sales rise 16% in October, up 13 % year-over-year

The number of financed new units of construction equipment sold or leased in October increased by 16 percent compared with September, according to Equipment Data Associates, which tracks financed construction equipment activity. In October, 8,503 new machines were sold, compared to 7,094 in September. New financed sales rose 13 percent compared with October 2013. Used […]

December 1, 2014