Tag: business: Page 43

Business

Former DOT Sec. LaHood: “We need a big pot of money” to fix America’s roads and bridges

Continuing his “America is one big pothole” theme, former U.S. Department of Transportation Secretary Ray LaHood used an appearance at a Caterpillar press event Wednesday night to lambast the present direction of U.S. transportation policy. Calling the 2-year transportation bill passed in 2012 “chintzy,” LaHood called upon Congress to think as roads as economic corridors. […]

October 30, 2014

Business

Toro buys BOSS snowplows, salt and sand spreaders

Toro will buy the BOSS business of Northern Star Industries, based in Iron Mountain, Michigan. BOSS makes snowplows, salt and sand spreaders for light and medium duty trucks, ATVs, UTVs and loaders. Michael J. Hoffman, Toro chairman and CEO says the BOSS line will be added to Toro’s existing professional contractor businesses. “We’ve long been […]

October 29, 2014

Business

Volvo CE earnings jump 31% during 3Q despite flat sales

Continued weak demand for construction equipment in China has negated sales gains in other parts of the world for the second-straight quarter at Volvo Construction Equipment. Despite the difficulties in Asia, the company’s positive earnings report for the third quarter Friday included a 31-percent gain in operating income to $89 million (SEK 648 million) over […]

October 24, 2014

Business

JCB to cut 150 jobs in UK due to decline in global demand

JCB has announced it is cutting 150 jobs, mostly at its headquarters in Staffordshire, England. According to a report from the BBC, CEO Graeme Macdonald said a “severe decline” in world markets are the reason for the job cuts. Some of the job cuts could also affect JCB offices in Wales and Derbyshire as well, the […]

October 23, 2014

Business

Home starts rise 6.3% in September as homebuilder confidence falls back to earth

The month-to-month volatility of new U.S. housing starts continued in September, while homebuilder confidence in the market saw its first dip in four months. Following a 13-percent drop in August, construction on new homes in the U.S. rose 6.3 percent in September to a seasonally adjusted annual rate of 1.017 million, according to preliminary data […]

October 20, 2014

Business

With Prop 1, Texas may break the logjam, spur innovation in highway funding

In November, Texans will go to the polls and vote on Proposition 1, which, in a nutshell, proposes to take half the money from the state’s gas and oil revenues and direct it toward highway construction and maintenance. Everything in this bill is sure to please the construction industry. And everything I’ve read over the […]

October 14, 2014

Dealers

Caterpillar leadership sees shake-up as heads of mining and dealer support announce retirement

Caterpillar has announced the retirement of two group presidents and a vice president, all of which will take effect early next year. Steve Wunning, 63, is retiring from his post as group president for resource industries, which includes mining. Caterpillar says that Ed Rapp, 57, current group president for construction industries will replace Wunning. Tom […]

October 14, 2014

Business

VP of New York construction firm charged with embezzling $266k in fuel, vehicles, supplies and labor

The vice president of a Syracuse, New York, construction firm who rose through the ranks in 13 years with the company, has been charged with embezzling more than $266,000. According to a report from the Syracuse Post-Standard, police have charged John M. Rubar, 44, with second-degree grand larceny. A police investigation found that Rubar had been […]

October 13, 2014

Workforce

Construction’s late recovery in Nevada heightens shortage of skilled workers as Tesla looms

After successfully wooing electric car maker Tesla to build its massive gigafactory through $1.25 billion in tax incentives, the state of Nevada is looking forward to an impact of $100 billion over the next 20 years. And the construction industry in the Reno area is looking forward to an infusion of 3,000 jobs to build […]

October 9, 2014

Business

Thieves are plundering the world’s beaches for sand as global demand for concrete grows

Once-beautiful beaches in many parts of the world are losing their most distinctive feature at an alarming rate due to a rising demand for concrete. According to a report from German publication Der Spiegel, men and women outfitted with only shovels and buckets are plundering beaches in Senegal, Kenya, New Zealand, Jamaica and Morocco for their […]

October 9, 2014

Business

Hiring an accounting firm can save your construction company money. Here’s how to find the right one

Since many construction companies start out as just one guy with a truck and a piece of equipment or two, sometimes obtaining professional help such as accountants doesn’t come into play until much later. Still, having the advice of a good CPA is crucial, says Denise Bendele, a partner with Texas-based Padgett Stratemann, a CPA […]

October 6, 2014

Business

Construction critical to growth of unconventional energy market

Construction is a key player throughout the “unconventional” oil and gas supply chain, according to a just-released study by the Energy Equipment Infrastructure Alliance, and conducted by IHS Global Insight. The industry is one of five critical economic sectors when it comes to the unconventional energy market, defined as oil and gas extracted by horizontal […]

October 1, 2014