December 2014 news
Wells Fargo Predicts Ongoing Construction Industry Improvement
The company's Q4 2014 Construction Quarterly predicts 7.0 percent business investment growth and 10 percent increase in housing starts for 2015.
The 2015 Housing Outlook
Economic fundamentals are finally back in the driver's seat, writes Sam Khafer for Core Logic. There are a few key reasons you could see your contractor rental business pick up in 2015 as the housing market improves.
Ritchie Bros. Record $4.2+ Billion in Sales for 2014
Ritchie Bros. Auctioneers Incorporated sold approximately $4.2 billion of equipment through 349 unreserved auctions and its online equipment marketplace during 2014. This is a new annual record for the company.
Housing, Builder Confidence Slip A Bit
Following an upwardly revised rate in October, housing starts in November slipped 1.6 percent to a seasonally adjusted annual rate of 1.028 million units, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Builder confidence, following a four-point uptick last month, fell one point in December to a level of 57 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
AWP Specialist Expands Used Equipment Services
Wholesale lifting equipment rental and sales specialist US Markets has launched a used equipment sales and purchase service, focusing on pre-owned and re-conditioned boom lifts, scissor lifts, telehandlers, and carry deck cranes. The company has tapped Mike Ferguson as Used Equipment Manager.
JLG Reorganizes Global AWP Marketing Team
JLG Industries has reorganized its aerial work platform (AWP) product marketing team.
Bigger Kids, Bigger Toys, World's Tallest Sand Castle
Cat continues with its "Built For It" series, this time setting the new Guinness World Record for the world's tallest sand castle.
Surface Transportation Repairs Need $163 Billion/Year
The “2015 Bottom Line Report” on transportation investment needs, released by the American Association of State Highway and Transportation Officials and the American Public Transportation Association, estimates that to meet current demand it will require an annual capital investment over six years by all levels of government in the amount of $120 billion in the nation’s highway and bridge network and $43 billion in America’s public transportation infrastructure.
Labor Gains Positive Sign for Housing
An improving labor market will help support growth in home building in 2015, notes David Crowe, Chief Economist for the NAHB. "And the November report offered the most positive jobs data in some time."
Construction Job Openings Continue to Increase
The number of open, unfilled construction sector positions increased in October and September numbers were revised higher. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs for October rose to 136,000, after the September count was revised higher to 112,000. The October level marks the 4th highest total of unfilled jobs in construction during the post-recession period.
Manitou Rotating TeleHandler Wins Award
Manitou's MRT Series Privilege Plus Rotating Telescopic Handlers received a 2014 "Leadership in Lifting Equipment and Access Platforms" award, known as the LLEAP award, in the category of material handling from Lift and Access magazine.
Construction Employment Continues Upswing
Construction industry employment hit a new five-year high in November as the sector added 20,000 jobs and its unemployment rate fell to 7.5 percent, the lowest rate for November in seven years, according to an analysis by the Associated General Contractors of America. The AGC also highlighted that construction employment expanded in 228 metro areas, declined in 64 and was stagnant in 47 between October 2013 and October 2014.
Atlas Copco Hires Development Manager of National Rental Accounts
Atlas Copco Construction Equipment has hired Frank Lang as its business development manager of national rental accounts. Lang helps expand Atlas Copco’s rental support network and will be responsible for developing relationships and sharing his product expertise with national rental companies.
Chicago Pneumatic Names New Regional Sales Manager
Chicago Pneumatic Construction Equipment has named Kevin Cook to the position of Regional Sales Manager.
Kubota Opening New Parts Distribution Center
Kubota Tractor Corporation announced that it will open a 450,000 square foot, state-of-the-art Parts Distribution Center in Edgerton, Kansas. The company has entered into a five-year lease agreement with ELHC XI, LLC, a Kansas limited liability company.
Rouse Rental Report for November
Used equipment prices were up, auction sales were lower and achieved rental rates improved, according to the November issue of the Rouse Rental Report. You canaccess a pdf here.
They're Still Stealing Your Stuff
Thieves continue doing their best to make off with equipment you own, according to the most recent report provided by the NER and NCIC. The 2013 report, available here, covers theft of construction and agricultural equipment. Thieves were active in all 50 states, making off with an estimated $300 million or more (some estimates are $400 million to $1 billion) worth of someone else's equipment. As little as 20% of stolen equipment is recovered, the report states.
PERC Extends Mower Incentives
Due to overwhelming interest, the Propane Education & Research Council is extending the timeframe to receive double the incentive dollars awarded through PERC’s Propane Mower Incentive Program. Initially set to expire at the end of the year, program participants will now be able to earn $2,000 toward the purchase of a new propane-powered mower and $1,000 toward a qualified conversion as the program extends through March 31, 2015.
Home Construction Gained Ground in October
NAHB analysis of total private residential construction spending Census data finds that all three components increased in October. Single-family spending increased 1.8%, multifamily spending increased 1.0% and home improvement spending increased 0.6% from revised September estimates.
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
