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$3.00 Published Nationally ® Midwest Edition February 5 2011 Vol. XVIII • No. 3 “The Nation’s Best Read Construction Newspaper… Founded 1957.” 470 Maryland Drive • Ft. Washington, PA 19034 • 215/885-2900 • Toll Free 800-523-2200 • Fax 215/885-2910 • Caterpillar’s Strong Quarter Profit Hints at Growth Inside MITA Holds Annual Trade Show & Conference...10 By Josh Funk AP BUSINESS WRITER federal agencies kicking in funding for the project, all of the construction contracts have been awarded and came in at $34 million below the original estimate. However, the $957 million project is still expected to be the largest public works project in the state of Minnesota. Walsh Construction, Ames-McCrossan Joint Venture, Aldridge-Collisys Joint Venture and PCL Construction Services, Heavy equipment maker Caterpillar’s soaring profit reflects strong demand in developing nations and offers reasons for optimism about the global economy and the prospects for other American manufacturers. “They are a pretty good barometer,” analyst Jeff Windau with Edward Jones said of Caterpillar Inc. That’s because Caterpillar sells its yellow-and-black mining and construction equipment around the world and can benefit from growth wherever it’s occurring, while its reach also means the company’s business reflects global economic trends. Caterpillar predicts the world’s economy as a whole will grow at a lukewarm rate of 3.5 percent in 2011, but developing regions will grow at nearly double that pace and continue buying equipment for mining and for upgrading their infrastructure. Caterpillar, based in Peoria, Ill., said Jan. 27 that its fourthquarter net income more than quadrupled to $968 million, or $1.47 per share, on $12.8 billion revenue. Those results beat analysts’ expectations and easily topped the $232 million in net income, or 36 cents per share, that it earned a year earlier on $7.9 billion in revenue. Chief Financial Officer Ed Rapp said increases in gross domestic product of roughly 6 percent in developing coun- see LRT page 42 see GROWTH page 56 At times, crews dug up several blocks at a time to relocate District Energy heating and cooling pipe. Nearly a mile of Fourth Street was affected during the utility relocation phase of the LRT project. Murphy Tractor Moves to New KC Location...20 LRT on Track for Spring Start in Twin Cities By Dick Rohland CEG CORRESPONDENT Schar ber & Sons Ho st Open Hou se.. .22 Table of Contents ........4 Attachment Section ...... ............................23-27 Recycling Section 29-37 Truck & Trailer ....57-62 Auction Section ....67-75 Business Calendar…..70 Advertisers Index ......74 Crews recently completed advanced underground utility relocations in downtown St. Paul in preparation for the start of construction this March of an 11 mile Light Rail Transit (LRT) system connecting the downtowns of St. Paul and Minneapolis. And good news for the local, state and Construction Firms Plan to Hire More in ’11 More construction firms are planning to hire workers this year than are planning to make layoffs, according to the results of an industry-wide survey released Jan. 24 by the Associated General Contractors of America and Navigant. The survey, conducted as part of the Construction Industry Hiring and Business Outlook, shows the industry may finally be emerging from a severe downturn that has left millions of skilled workers unemployed. “This won't be an easy year for most firms, but it will be better than last year,” said Stephen E. Sandherr, the association’s chief executive officer. “If current trends continue, this industry will be in a much better position 12 months from now than it is today.” Sandherr noted that while 55 percent of firms laid off staff and only 20 percent of firms added employees in 2010, the outlook is more positive for 2011. He said that 27 percent of construction firms report they plan to add staff in 2011 while only 20 percent report plan layoffs. Even more positive, expanding firms plan to hire an average of 23 employees, while contracting firms plan to lay off an see HIRING page 50

Midwest #3, 2011

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