Tag: business: Page 42

Business

John Deere makes huge gains in construction equipment sales during 2014, but ag slowdown brings full-year profit down 11%

After smashing earnings records in 2013, three straight down quarters due to a global farming slowdown resulted in an unfavorable fiscal 2014 for John Deere, and the company expects things to only get worse in 2015. The company announced a profit decrease of 11 percent to $3.162 billion during fiscal year 2014, which ended October […]

December 1, 2014

Workforce

Obama unveils immigration reform shielding 5 million from deportation; challenges Congress to “pass a bill”

During a defiant speech from the East Room of the White House Thursday night, President Barack Obama unveiled sweeping immigration reforms that would shield nearly 5 million undocumented immigrants from deportation and make it easier for highly-skilled immigrants to work here. There are currently 11 million undocumented immigrants living in the U.S. and an estimated […]

November 21, 2014

Business

Home starts dip 2.8% in October as builder confidence clicks back up

U.S. home starts fell 2.8 percent in October to a seasonally adjusted annual rate of 1.009 million, according to preliminary data from the Commerce Department. The latest report also revised the September rate upward from 1.017 million to 1.038 million. Home starts in the U.S. are now up 7.8 percent over October 2013. For the last […]

November 19, 2014

Business

Cement shortage in Michigan could delay some construction projects into next year

Construction projects across the state of Michigan that are dependent upon concrete are being delayed due to a cement shortage caused by what is being called a “perfect storm” of events. According to a report from the Detroit Free Press, the Michigan cement industry had to delay the start of shipping this spring due to […]

November 11, 2014

Business

AGC economist forecasts strong construction growth thanks to ‘shale gale’, Panama Canal expansion

The morning after Republicans won back the U.S. Senate, Ken Simonson, chief economist for the Associated General Contractors of America, said that conservative majorities in both houses of Congress are unlikely to spend money to improve the the country’s infrastructure, but that private construction will be robust. The keynote speaker Wednesday at the 2014 Association […]

November 6, 2014

Business

ARA: U.S. equipment rental market to grow 7.3 percent this year, slightly down from earlier predictions

Revising its forecast slightly down from the 7.6 percent growth predicted in July, the American Rental Association now sees 7.3 percent growth this year in the U.S. equipment rental market. The total market—consisting of primarily construction equipment and general tool segments, but also including a party and event component—is now expected to reach $35.7 billion, […]

November 5, 2014

Business

Despite slight dip in profit during first 6 months, Komatsu revises full-year forecast upward on “brisk” equipment sales

Sales and operating income at Komatsu are up during the first six months of the company’s fiscal year, but the increases weren’t enough to stave off a slight dip in profit. The Japanese heavy equipment manufacturer reported sales of $8.3 billion (942.5 billion Japanese Yen), during the first half of fiscal year 2o14, which ends […]

November 3, 2014

Business

Construction spending falls 0.4% in September due to dip in government projects

Construction spending in the U.S. fell for a second consecutive month in September, dipping 0.4 percent. According to preliminary estimates from the Commerce Department, spending was at a seasonally adjusted annual rate of $951 billion in September. In addition to the dip in September, the report revised downward the rates for the previous two months as […]

November 3, 2014

Business

Terex sells 51% of ASV to Manitex, resulting in skid steer, compact track loader joint venture

Terex is selling 51 percent of ASV to Manitex International, resulting in a joint venture that is 51 percent owned by Manitex and 49 percent owned by Terex. The joint venture will manufacture skid steers and compact track loaders. According to Terex, after the agreement is finalized, ASV will continue to sell its skid steers […]

November 3, 2014

Business

Terex profit falls 30% in 3Q, reduces expectation for full-year earnings

Despite a slight sales boost, equipment manufacturer Terex saw earnings fall during the third quarter and has reduced its earnings forecast for the full year. Sales were up 3 percent over the same quarter last year to $1.8 billion, mainly due to the continued success of the company’s aerial work platforms (AWP) segment and a […]

November 2, 2014

Business

When the Marcellus Shale provided the opportunity, West Virginia contractor Dwaine Doss was ready

Most contractors understand you don’t waste daylight. But by the time the sun breaks over the mountains of central West Virginia, Dwaine Doss has already put in hours of work. When your customers are the top dogs drilling for gas in the Marcellus Shale, starting time is typically 4:30 a.m. Quitting time? Don’t ask. Long […]

November 1, 2014

Construction Equipment

The 7 latest trends in over-the-road Heavy Trucks that could impact your construction business

Significant changes are taking place in over-the-road trucking industry, changes that contractors will also see. Some are inherent in new designs. Others will require careful consideration if contractors are to receive maximum benefit. The first step to making the most of these changes is to recognize whether most of your truck fleet is an integral […]

November 1, 2014