May 15, 2008 | Link This | Email this | Comments (0)

The Portland Cement Association (PCA) forecasts the severe economic weakness of the U.S. economy will have a strong impact on cement consumption and the construction industry. An expected consumption drop of 11 percent is expected in 2008, with a 5.5-percent drop projected for 2009. PCA predicts the total cement consumption for this year will be 101.7 million metric tons.

A record consumption of 128 million metric tons was reached in 2005. Peak-to-trough declines in consumption will total nearly 30 million metric tons. This marks one of the worst industry downturns seen since the Great Depression. 

PC...Read More

May 13, 2008 | Link This | Email this | Comments (0)

IronPlanet® (www.ironplanet.com), an online auction company for used construction and agricultural equipment, recently liquidated $2.74 million of equipment for Rushing & Mason, Inc. of Memphis, Tenn., and Little Rock, Ark., achieving 121 percent of its initial price target.

The March 27 auction drew a global audience of 14,000 visitors and generated an average of 21 bids per item. Nearly 20 percent of the eq...Read More

April 18, 2008 | Link This | Email this | Comments (0)

Earlier this week Sen. John McCain called for a suspension of the gas tax between Memorial Day and Labor Day, calling it an immediate “economic stimulus.” The move would shave the tax off high gas prices, which would be an immediate relief to may consumers. But what would it cost us in the long run?

According to ARTBA, the proposal would have severe negative economic impacts on the construction industry, eliminating $9 billion nationally in infrastructure investments, and causing the loss of over 300,000 construction jobs. The five states in Construction News territory could lose nearly $555.2 million in funding and 20,000 jobs.

April 10, 2008 | Link This | Email this | Comments (0)

Hundreds of scheduled bridge and highway projects could be removed from the Oklahoma Department of Transportation’s (ODOT) eight-year Construction Work Plan without state funding changes. The warning came from members of the Oklahoma Transportation Commission earlier this week.

Two years ago, the State Legislature approved long-term funding increases in HB 1176 (2006), some of which were contingent on 3 percent revenue growth for the state. The trigger mechanism jeopardizes plans for much needed infrastructure across the state, and could cause ODOT to remove $127 million worth of projects. Additionally, it may cause as much as $260 million in projects to be removed from the remainder of the state’s ...Read More

April 2, 2008 | Link This | Email this | Comments (0)

Phase IV of the Hey P. Long Widening Project was let at $16 million under estimated construction costs. A joint venture of Peter Kiewit Sons’, Inc., Massman Construction Co., and Traylor Brothers, Inc. submitted the apparent low bid at $434 million. The estimated construction cost was $450 million.

The lower bid comes as a surprise in a region where prices are still high and bids routinely go over the original estimates. After the hurricanes of 2005, many projects were reevaluated and cost estimates were adjusted to reflect the changes in supply and demand. The Huey P. Long Bridge Widening estimates were revised post-Katrina to reflect industr...Read More