Monthly Archive for October, 2011

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3rd Quarter 2011 GDP: Nonresidential Fixed Investment Up 16.3 Percent

“What the United States is now experiencing is acceleration in capital formation.” —ABC Chief Economist Anirban Basu.

Putting fears of a looming recession at rest for now, nonresidential fixed investment jumped 16.3 percent in the third quarter of 2011 following a revised 9.2 percent increase in the previous quarter of this year, according to the October 27 Gross Domestic Report (GDP) report by the Department of Commerce. Nonresidential fixed investment in structures increased for the second straight quarter this year, up 13.3 percent in the third quarter following a 22.6 percent increase in the second quarter. Fixed investment in equipment and software expanded 17.4 percent last quarter following a 6.2 percent increase in the second quarter.

Residential fixed investment grew 2.4 percent in the third quarter after a 4.2 percent loss in the second quarter. Exports grew 4 percent in the third quarter as exports of goods were up 4.7 percent and exports of services increased by 2.4 percent. Imports were up 1.9 percent for the quarter as imports of goods increased by 1.8 percent and imports of services increased 2.4 percent.

Personal consumption expenditures increased 2.4 percent in the third quarter as expenditures of services were up 3.2 percent and expenditures in goods increased 1.4 percent. Changes in real private inventories subtracted 1.1 percent to the third-quarter change in real GDP. Private businesses increased inventories by $5.4 billion for the quarter. Real final sales of domestic product – GDP less change in private inventories – increased 3.2 percent for the quarter following a 1.3 percent increase in the second quarter.

Federal government spending increased 2 percent in the third quarter as national defense spending rose 4.8 percent and nondefense spending decreased 3.7 percent. State and local governments decreased spending for the fifth consecutive quarter, down by 1.3 percent in the third quarter.

Gross domestic purchases – purchases by U.S. residents of goods and services wherever produced – increased 2.2 percent in the third quarter following a 1 percent increase in the second quarter. Overall, real gross domestic product (GDP) increased 2.5 percent in the third quarter following a revised 1.3 percent increase in the second quarter.

Analysis

“Today’s third quarter GDP report puts any talk of an imminent recession to rest for now,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Indeed, economic data released over the past month have been surprisingly good.

“Today’s report shows that a growing share of American corporations are willing to spend money to spur top-line and bottom-line expansion,” Basu said. “However, this does not signify that the nonresidential construction industry is set to boom.

“Public sector support for construction services is likely to be flat at best, and job growth remains halted and lending disciplined,” said Basu. “But the overall economic outlook for the nonresidential construction industry has improved materially over the past several weeks.

“Eventually, the investment in equipment software and structures will trend late into expanded hiring. Capital and labor go together and what the United States is now experiencing is acceleration in capital formation,” said Basu.

“That, in turn, will help trigger more demand for construction services, whether in the form of office buildings, apartments, or shopping centers. In short, the improved outlook for the broader economy in 2012 signals more recovery for construction activities in 2013 than were contemplated just a few weeks earlier,” Basu said.

Terex® Construction Equipment Available Through Compact Power Equipment Centers

Terex® PT-30 and PT-50 compact track loaders, TSR50 skid steer loaders and TC16 compact excavators are available for rent at Compact Equipment Power Equipment Centers (CPEC) located in 280 select locations of The Home Depot Tool Rental. Compact Power Equipment Centers have partnered with The Home Depot, the leading source for home improvement products, to provide commercial contractors with towable rental equipment for many projects.

“This is an exciting opportunity for Terex,” says John Poag, director, Rental, Government and Remarketing, Terex Construction. “We are pleased to have the Terex brand presented to customers alongside such well-known, reputable brands as Compact Power Equipment Centers and The Home Depot.”

According to Poag, when the partnership between Home Depot and Compact Power Equipment Centers was formed earlier this year, Terex placed equipment in 170 Home Depot locations. Top performing locations include The Home Depot flagship store in Atlanta, Ga., as well as stores in Nashville, Tenn.; Rock Hill, S.C.; Greenville, S.C.; Fort Worth, TX; Tampa, Fla.; Dallas, TX; Memphis, Tenn.; and Olive Branch. Miss. Both the Memphis and Olive Branch stores are just 30 miles from the Terex Construction operations office in Southaven, Miss.

According to Jon Richardson, director of corporate fleet, Compact Power, working with Terex is critical to best serving commercial contractors. “For contractors who are trying to keep their overhead low or need some extra equipment for a big job, our goal is to provide solutions for all of their equipment needs,” says Richardson. “This means having the right equipment, like Terex compact track loaders, skid steers and compact excavators, available when and where contractors need it.

“Whether a contractor is looking for a long-term rental contract or simply requires equipment for a few hours,” continues Richardson, “our centers are dedicated to providing these customers with excellent service, helpful advice and versatile, affordable equipment solutions for every rental need.”

Tony Rust, director, Terex Financial Services – Construction, adds, “Compact Power Equipment Centers provide cost-saving solutions that help contractors focus on bottom-line profitability, while providing quality equipment that customers need to get their projects done. This relationship is yet another way for Terex to best serve contractors’ equipment needs.”

Compact Power CEO Roger Braswell says, “Compact Power Equipment Centers, stocked with Terex compact construction equipment, are the go-to source for our customers’ rental needs. Our goal is to open an additional 300 Compact Power Equipment Centers in the future — our strategic relationship with Terex is very important in achieving this.”

Poag finishes, “We look forward to growing this relationship with Compact Power Equipment Centers, and serving more commercial contractors, as it expands into additional The Home Depot Tool Rental locations in the future.”

To find a Compact Power Equipment Center with Terex equipment, visit: Compact Power Equipment Centers

Late Model Cranes To Be Sold At Ritchie Bros. Auctions In Lincoln, NE And Houston, TX

A large selection of late model cranes will be sold by Ritchie Bros. Auctioneers at upcoming unreserved auctions in Houston, Texas on November 16 – 17, 2011 and at the Lancaster Event Center in Lincoln, Nebraska on November 18, 2011. Cranes being sold at the Company’s permanent auction site in Houston include rough terrain and hydraulic truck cranes and seven large crawler cranes from Link-Belt and Manitowoc. The cranes being sold in Lincoln, NE include late model hydraulic, all terrain, rough terrain cranes and crawler cranes. Both auctions are open to the public and registration to bid is free. Cranes and equipment will be sold to the highest bidders on auction day, with no minimum bids or reserve prices. Bids can be made in person, online in real time at www.rbauction.com or by proxy.

After achieving record-breaking crane sales in 2010, Ritchie Bros. has continued to experience very strong crane sales in 2011. Between January 1 and September 30, Ritchie Bros. sold more than 1,250 cranes at unreserved auctions worldwide, representing total sales of close to US$100 million. The Company currently has more than 120 cranes listed in upcoming auctions and viewable at www.rbauction.com.

Houston – November 16 & 17

“We have a wide assortment of cranes, including several late model cranes, being sold in our upcoming two-day Houston auction. The big ticket cranes are the crawler cranes that we anticipate will attract international crane buyers from around the world,” said Alan McVicker, Regional Manager, Ritchie Bros. Auctioneers. “We’ve had a very strong year in terms of crane sales at Houston auctions and now that the end of year is fast approaching, crane companies realize they need to move and sell the cranes they are no longer using—a Ritchie Bros. unreserved auction presents them with the perfect opportunity to do that.”

Cranes being sold in Ritchie Bros.’ upcoming Houston auction on November 16 & 17 include:

  • 2009 Manitowoc 999 Series 1, 2 & 3 275-ton crawler crane
  • 2007 Grove TMS800E 80-ton 8x4X4 hydraulic truck crane
  • 2007 Grove RT530-2 30-ton 4X4 rough terrain crane
  • 2003 Link-Belt RTC80100 100-ton rough terrain crane

Other equipment being sold in the Houston auction includes hydraulic excavators, loader backhoes, articulated dump trucks, rock trucks, wheel loaders, motor graders, and crawler tractors and more. Owners interested in consigning their equipment or cranes in the November 16 – 17 Houston auction can contact +1.713.455.5200 for more information.

Auction details:

  • Location: Ritchie Bros.’ permanent Houston auction site at 15500 Eastex Freeway, Humble, TX 77396
  • Time and date: Wednesday, November 16 – Thursday, November 17, 2011 starting at 8:00 a.m. each day
  • Site phone: +1.713.455.5200
  • Interested buyers can visit the auction site to inspect, test and compare items for themselves
  • Full auction and equipment details, specifications and photos are available at www.rbauction.com

Lincoln, NE – November 18

“We’ve got a nice selection of late model cranes in our second off-site auction and second complete dispersal in Nebraska this year,” said Ben Arbeiter, Regional Manager, Ritchie Bros. Auctioneers. “The cranes and equipment will be on display in an equipment yard adjacent the Lancaster Event Center for buyers to inspect two weeks prior to the auction. Items will then be sold to the highest bidders by Virtual Ramp inside the Lancaster Event Center on auction day. In 2007, we conducted a similar unreserved auction with cranes at the same facility and the setup proved to be very convenient for both buyers and sellers.”

Late model cranes being sold in Ritchie Bros.’ upcoming Lincoln auction on November 18 include:

  • 2011 Link-Belt HTC86100 100-ton 8X4X4 hydraulic truck crane
  • 2007 Terex American HC80 80-ton self-erecting crawler crane
  • 2006 Grove TMS880E XL 80-ton 8X4X4 hydraulic truck crane
  • 2006 Manitowoc 10000 100-ton self-erecting crawler crane
  • 2003 Grove GMK5240 240-ton 10x8X8 all terrain crane

Other equipment being sold in the Lincoln auction includes boom trucks, wheel loaders, lowboy, hi-boy and step deck trailers, forklifts and more. Owners interested in consigning their equipment or cranes in the November 18th Lincoln auction can contact +1.816.633.4096 for more information.

Auction details:

  • Location: Lancaster Event Center, 4100 N. 84th Street, Lincoln, NE 68507
  • Time and date: Friday, November 18, 2011 starting at 9:00 a.m.
  • Site phone: +1.816.633.4096.
  • Interested buyers can visit an equipment yard adjacent the Lancaster Event Center to inspect, test and compare items for themselves two weeks prior to the auction (between 8:00 a.m. and 5:00 p.m.) straight through to auction day
  • Full auction and equipment details, specifications and photos are available at www.rbauction.com

Terex Welcomes Central Jersey Construction Equipment As New Full Line Compact Equipment Distributor

Central Jersey Construction Equipment now distributes the full line of Terex® compact construction equipment, adding skid steer loaders and compact track loaders to their current Terex equipment offering. Central Jersey Construction Equipment provides sales, service, parts and rental options for customers in the New Jersey area.

“We are pleased to continue to grow our relationship with Central Jersey Construction Equipment,” said Dean Barley, general manager, Terex Construction Americas. “They have been an excellent distributor for Terex wheel loaders, excavators and loader backhoes for more than a decade, and with the addition of the skid steer loader and compact track loader lines, Central Jersey Construction Equipment is well-positioned to respond to customers’ unique equipment needs.”

According to Rob Mennona, owner and general manager of Central Jersey Construction Equipment, the Terex equipment line enables the company’s services and offerings to appeal to a wide customer base: Everything from large construction companies to independent contractors tackling smaller construction jobs. Central Jersey Construction Equipment also provides delivery and pick-up services, as well as service packages and in-house warranty work, to customers.

“The Terex brand offers our customers high-quality equipment at competitive sales and rental prices,” says Mennona. “We believe that taking on the additional Terex products at this time allows us to continue to put our best foot forward with our customers now and look for ways to expand our opportunities in the future.”

Mennona continues, “I really appreciate how Terex has gone the extra mile for my company time and again throughout the years; it is a philosophy that our businesses share. Each company has truly supported, and grown with, each other.”

In addition to offering a full line of products and services, qualified Central Jersey Construction Equipment customers who purchase Terex compact construction equipment have financing options through Terex Financial Services™. Terex Financial Services offers a wide range of finance and leasing solutions, structured to accommodate customers’ cash flow and budgets. The Terex Financial Services team is equipped to assist in all areas of asset management, from the analysis of future equipment values through the disposal of used equipment.

Central Jersey Construction Equipment is located at 252 Atlantic City Blvd., Bayville, NJ, and can be contacted at Phone: (732) 606-1002. Visit them online at www.jerseyrents.com.

Topcon’s Painter Moves To New Position

Bill Painter

Topcon Positioning Systems (TPS) has named Bill Painter as global senior manager of 3D road construction.

Painter began his career in Minnesota working for several of the largest paving contractors in the Midwest and has more than 28 years of experience in the highway and heavy construction industries. In 1994 when Topcon acquired the machine control side of Agtek, he was named the company’s Midwest regional manager, based in Chicago. Four years later, he relocated to California to take on the role of service manager and was quickly promoted to become the Northwest regional manager for construction.

In his new position, Painter will report to Murray Lodge, vice president of construction sales.  Lodge said, “Bill’s extensive experience in construction and machine automation made him the clear choice for this new role. Few people in the company have the extensive knowledge about the industry and Topcon as Bill.”