On March 13, Reps. Jimmy Duncan (R-Tenn.) and Bill Pascrell (D-N.J.) introduced legislation (H.R. 499) to lift the cap on private activity bonds (PABs) for water and sewer projects.
According to estimates, removing the cap on PABs could generate as much as $5 billion annually in incremental private capital for water infrastructure projects with a hit to U.S. Treasury of only $214 million over 10 years.
A 2008 Associated Equipment Distributors (AED) — National Utility Contractors Association (NUCA) study found that on average, at least 12 percent of a water utility project bid is attributable to the purchase, rental, leasing, and dealer repair more »
While many in the business community were disappointed with President Obama’s State of the Union address, another speech last week has renewed hopes that tax reform and a solution to the highway crisis could be in the offing.
In remarks at the U.S. Chamber of Commerce on Jan. 20, Senate Finance Committee Chairman Orrin Hatch (R-Utah) outlined a growth-oriented committee agenda aimed at achieving a healthy economy by pursuing bipartisan, job-creating initiatives such as reforming the tax code and enacting trade promotion authority (TPA) as key methods to achieving a more stable financial future for the U.S.
“If we’re going to right this more »
The Canadian company behind the Keystone XL pipeline, TransCanada Corp., filed eminent domain proceedings on Jan. 20 in the state of Nebraska. The filings, if successful, would secure the company’s ability to build the pipeline across private Nebraskan property (after compensating landowners). However, TransCanada cannot move forward with the project without presidential approval. The U.S. Senate is currently debating legislation that recently passed the House to approve the project.
A strengthened economy, growth in employment and lower gas prices at the pump, generating increased disposable income, all spell favorable news for consumers as well as the equipment rental industry in the United States.
Overall, the American Rental Association (ARA), through its ARA Rental Market Monitor subscription service, forecasts equipment rental industry total revenue growth of 8.1 percent in 2015 to reach $38.5 billion in the U.S., including all three segments — construction/industrial, general tool, and party and event.
Construction/industrial rental revenue is now forecast to increase 8.5 percent in 2015 to $26 billion, with general tool projected to grow 8.3 percent to more »
There were ten out of 12 months of increasing demand for design services in 2014, and the Architecture Billings Index (ABI) points to a healthy outlook for the nonresidential construction industry. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to 12 month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the December ABI score was 52.2, up from a mark of 50.9 in November. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.2, following a more »
Atlas Copco, a leading provider of sustainable productivity solutions, was recognized as one of the world’s most sustainable companies in the annual Global 100 list. The list, presented at the World Economic Forum in Davos, Switzerland Jan. 22, , ranks companies that prove they are increasing productivity while using less resources. Atlas Copco is ranked 23rd overall, up from 46th last year, and is number one in the machinery industry. It was the ninth time Atlas Copco appeared on the list.“We strive to deliver products and services that are energy efficient, safe and ergonomical with minimal impact on the environment,” said more »
Tony Satterthwaite to Lead Distribution; Antonio Leitao to Lead Power Generation
Cummins Inc. announced Jan. 21, that Tony Satterthwaite, vice president, president – Cummins Power Generation, will become president of the company’s Distribution Business Unit, succeeding Vice President and President Pamela Carter who is retiring. Antonio Leitao, vice president – Power Products for Cummins Power Generation, will succeed Tony Satterthwaite as the leader of that business unit. Both assume their new roles, April 1.
Satterthwaite has been leading Power Generation since 2008. He has been with Cummins since 1988, serving in a variety of roles with that business unit. He graduated from Cornell more »
New app site available on iTunes to view and download John Deere apps
“This new tool offers applications that will help users increase the performance and productivity of their equipment,” said Pat Pinkston, vice president, technology and information solutions, John Deere Intelligent Solutions Group. “Other apps will be available to help manage many jobs within their operation while helping to improve overall efficiency for their work or farm site.”
The John Deere more »
Led by solid gains in single-family housing production, nationwide housing starts rose 4.4 percent to a seasonally adjusted annual rate of 1.089 million units in December, according to newly released data from the U.S. Commerce Department. For the year, overall housing starts topped 1 million units.
“Today’s figures continue to be in line with our recent surveys, as builders have been becoming increasingly optimistic,” said Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del.
“With overall starts ending the year above 1 million units for the first time since 2007, we expect more »
Firms in Virginia Lead Other States in Hiring Optimism; Most Firms Expect Growth this Year, But Are Coping With Worker Shortages, Rising Health Care Costs and New Regulatory Burdens, New Outlook Finds
Eighty percent of construction firms plan to expand their payrolls in 2015 while only 7 percent expect to reduce headcounts according to survey results released Jan. 21, by the Associated General Contractors of America. The survey, conducted as part of Ready to Hire Again: The 2015 Construction Industry Hiring and Business Outlook, indicates that most contractors are optimistic about the year ahead and ready to expand, but will have to cope with more »