Tag Archive for 'economy'

Lease or Loan? What You Need to Know to Decide

Lease or Loan?

EarthCam: Official Construction Time-Lapse Available for SF-Oakland Bay Bridge Anniversary

This is a spectacular time-lapse viewing of the construction of the San Francisco-Oakland Bay Bridge. It’s five years, 42,000 hours condensed into minutes.

EarthCam’s Time-Lapse Documents San Francisco-Oakland Bay Bridge Construction

WHAT: Today marks 78 years since the San Francisco-Oakland Bay Bridge opened to traffic. During the Bay Bridge East Span Replacement from 2008-2013, EarthCam documented more than 42,000 hours of construction and archived nearly 2 million images.

WHY: On November 12, 1936, the first cars drove over the bridge and now nearly 250,000 vehicles cross it every day. During the East Span Replacement project, workers constructed a safer, more durable structure. Watch five years of work on the $6.4 billion bridge come together in four minutes with EarthCam’s official time-lapse!

HOW: See five years of construction and nearly two million images of the San Francisco-Oakland Bay Bridge project with EarthCam’s time-lapse: https://www.youtube.com/watch?v=GDUIYZKlknk.

EarthCam’s Time-Lapse Documents San Francisco-Oakland Bay Bridge Construction

WHAT: Today marks 78 years since the San Francisco-Oakland Bay Bridge opened to traffic. During the Bay Bridge East Span Replacement from 2008-2013, EarthCam documented more than 42,000 hours of construction and archived nearly 2 million images.

WHY: On November 12, 1936, the first cars drove over the bridge and now nearly 250,000 vehicles cross it every day. During the East Span Replacement project, workers constructed a safer, more durable structure. Watch five years of work on the $6.4 billion bridge come together in four minutes with EarthCam’s official time-lapse!

HOW: See five years of construction and nearly two million images of the San Francisco-Oakland Bay Bridge project with EarthCam’s time-lapse: https://www.youtube.com/watch?v=GDUIYZKlknk.

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ABOUT EARTHCAM

EarthCam is the global leader in delivering webcam content, technology and services. Founded in 1996, EarthCam provides live streaming video and time-lapse construction cameras for corporate and government clients in major cities around the world. EarthCam’s revolutionary gigapixel camera systems deliver superior billion pixel clarity for monitoring and archiving the world’s most important projects and events. Most recently, EarthCam launched ConstructionCamTV, a new 24-hour “TV channel” devoted to live construction cameras and educational time-lapse movies. In 2013, EarthCam’s technology documented more than $120,000,000,000 of construction work.

Projects documented by EarthCam include: National September 11 Memorial & Museum, Barclays Center, San Francisco-Oakland Bay Bridge, Statue of Liberty and Washington Monument Restoration, New NY Bridge, Panama Canal Expansion, Smithsonian Institution Restoration, Brickell City Centre, Minnesota Vikings Stadium, Disneyland, Los Angeles International Airport, Denver Station, George W. Bush Presidential Center, Whitney Museum of American Art, Louvre in Abu Dhabi, Levi’s Stadium and National Museum of African American History and Culture.

Learn more about EarthCam’s innovative solutions at www.earthcam.net.

Connect with EarthCam!

 

ARTBA Reports: Another Big Election Winner: Transportation Funding Initiatives

Nearly 70% Approved by Voters Across the Nation, ARTBA Report Shows  

Voters across the nation again demonstrated they strongly support increased investment in transportation improvements, approving 60 of 90 (67 percent) transportation-related initiatives that were on the November ballot, according to a report from the American Road & Transportation Builders Association’s Transportation Investment Advocacy Center (ARTBA-TIAC).

The measures will provide nearly $21 billion in additional in revenue for transportation projects, the ARTBA-TIAC’s post-election analysis finds.

“These election results show, once again, the public wants our government to invest in our mobility and safety and are willing to pay for it,” ARTBA President & CEO Pete Ruane said.  “It doesn’t make a difference whether it is a Republican- or Democratic-leaning state.   The newly-elected Congress and the White House must take note and do their job and permanently fix the Highway Trust Fund.  Transportation funding cannot remain frozen in the ice of political inertia and partisanship.  The states rely on federal funds for, on average, 52 percent of their highway and bridge capital investments.”

Texans approved the largest state funding initiative, redirecting nearly $1.2 billion in oil and gas revenues from the state’s rainy day fund for transportation.  Voters in Maryland (81 percent) and Wisconsin (80 percent) overwhelmingly approved measures to ensure that transportation-related revenues are used exclusively for their intended purpose, and not diverted to non-transportation programs.  With support of 60 percent of voters, Rhode Island voters also approved a statewide $35 million bond proposal.  A Louisiana proposal to approve creation of a state constitutional amendment establishing a state infrastructure bank was defeated.

Of the county and local initiatives:

  • 20 of the 32 measures (63 percent) to increase a gasoline or general sales tax for transportation investment were approved.
  • 13 of the 14 measures (93 percent) to issue local bonds for transportation investment were approved.
  • 23 of the 35 measures (66 percent) to increase property taxes for transportation investment were approved.

Historically, voters have approved ballot measures to increase transportation revenues, including 86 percent of initiatives in 2013, 68 percent in 2012, 55 percent in 2011, 61 percent in 2010, 78 percent in 2008, 63 percent in 2007, 77 percent in 2006, 83 percent in 2005, and 76 percent in 2004.  In sum, over the past 10 years, voters have approved an average of 72 percent of the measures.

TIAC, which was launched by ARTBA in March, is an online educational platform that features detailed case studies of recent transportation funding campaigns—both successful and unsuccessful—mounted in numerous states.  It includes television, radio and print ads, polling, an overview of state and local funding and finance mechanisms, and an ongoing blog detailing new developments across the nation.

Established in 1902 and headquartered today in the Nation’s Capital, ARTBA is the “consensus voice” of the U.S. transportation design and construction industry.

AEM President Slater on 2014 Elections

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Dennis Slater, AEM President

Dennis Slater, AEM President

Dennis Slater, president of the Association of Equipment Manufacturers (AEM), made the following statement following statement following the results of the 2014 midterm elections:

Yesterday evening, voters across America made it clear that they think Washington is broken, and they expect our elected leaders to come together to fix it.

Americans have grown tired of the gridlock and partisan bickering that has plagued Capitol Hill in recent years. With tonight’s election, they have sent a clear signal that they want action on the problems facing this nation. It is far past time for our lawmakers to put aside partisan differences and work together toward crafting constructive solutions. The new leadership in the U.S. Senate must now demonstrate they can move America forward.

That means no more threats of government shutdowns or risking defaulting on our national debt, and an end to pointless show votes that serve no purpose but to energize each party’s ideological core at the expense of productive legislating.

Equipment manufacturers and the broader business community share voters’ frustration. The good news is that there is ample opportunity for President Obama and Congress to work together on commonsense solutions. Those efforts should begin without delay; there’s no excuse for Congress to waste the next two months by failing to deal with issues that demand their attention now.

An immediate order of business for Congress should be responsibly fixing the Highway Trust Fund by restoring the gas tax to its 1993 buying power while oil prices are at recent record lows. Congress can continue to boost access to affordable energy by approving construction of the Keystone XL Pipeline.

They can rally around commonsense legislation to reauthorize the Export-Import Bank for the long term and give American manufacturers the tools they need to compete in the global marketplace and support jobs in the United States. Lawmakers should give President Obama improved authority to negotiate trade deals and move toward swiftly approving pending trade deals with our European and Asian partners.

And there is both ample room and great need for Congress to find a bipartisan solution to fixing a tax system that has become so complex and burdensome that it is now a barrier to job creation.

The 114th Congress faces a choice: They can repair their broken bond with voters, or they can continue down their current path and risk turning their relationship with voters into something more toxic.

On behalf of the equipment manufacturing industry, I sincerely hope that President Obama, Speaker Boehner and our Senate leaders opt for progress over provocation.

ABC Reports: GDP Shows Increasing Positivity for Nonresidential Construction

CEU2-1“The improving confidence of consumers, business owners, and real estate developers, among others, suggests that additional momentum is likely, ” —ABC Chief Economist Anirban Basu.

GDP_Q3_2014-1Nonresidential fixed investment grew 5.5 percent in the third quarter after expanding 9.7 percent in the second quarter, according to the Bureau of Economic Analysis’ Oct. 30 gross domestic product (GDP) report. It has now expanded by greater than 5 percent in four of the past five quarters. In addition, investment in equipment increased 7.2 percent, while investment in nonresidential structures increased 3.8 percent.

Real gross domestic product (GDP) expanded 3.5 percent (seasonally adjusted annual rate) during the third quarter, following a 4.6 increase in the second quarter.

“It has been rare for the U.S. economy to record two consecutive good quarters since the recovery began in mid-2009,” said Associated Builders and Contractors Chief Economist Anirban Basu. “The dominant pattern has been one of a good quarter followed by a bad quarter. This lack of consistent momentum has also been seen with construction spending growth and in other leading indicators, such as the Architecture Billings Index and ABC’s own Construction Backlog Indicator.”

“However, the improving confidence of consumers, business owners, and real estate developers, among others, suggests that additional momentum is likely,” Basu said. As an example, the Consumer Confidence Index attained a seven-year high in October. The implication is that nonresidential construction spending should continue to recover, with growth continuing to be concentrated in privately financed segments.”

The following segments expanded during the third quarter and/or contributed to GDP.

  • Personal consumption expenditures added 1.2 percent to GDP after contributing 1.8 percent in the second quarter.
  • Spending on goods grew 11 percent after expanding 14.3 percent in the prior quarter.
  • Real final sales of domestically produced output, minus changes in private inventories, increased 4.2 percent after a 3.2 percent increase in the second quarter.
  • Federal government spending expanded by 10 percent following a 0.9 percent decrease in the prior quarter.
  • Nondefense spending expanded 0.5 percent after decreasing by 3.8 percent in the second quarter.
  • National defense spending expanded 16 percent after inching up 0.9 percent in the previous quarter.
  • State and local government spending expanded 1.3 percent during the third quarter after growing 3.4 percent in the second quarter.

To view the previous GDP report, click here.