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August 4, 2012 • Vol. IXX • No. 16 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910 • www.constructionequipmentguide.com
Inside
Caterpillar Shares Jump as Profit Grows
McCann Hosts Night at TORC Races...10
By Josh Funk AP BUSINESS WRITER
Minn., and the Twin Cities 90 mi. (126 km) to the north, it is also designed to spur local development in the area. Located in the city of Pine Island 60 mi. (96 km) south of the Twin Cities, road crews also are building a new, 12 mi. (19 km) frontage and county road system to support the expected increase in traffic as companies begin to settle in and around the interchange. Trunk Highway 52 runs from Moorehead,
Caterpillar Inc.’s second-quarter profit soared 67 percent because of growing demand for its construction and mining equipment, and the company boosted its outlook for the year. Caterpillar is the world’s largest maker of construction and mining equipment, and its results are watched closely because they are considered an indicator of industrial activity and the health of the overall economy. CEO Doug Oberhelman said Caterpillar is prepared to cut costs if the economy does weaken significantly, but he remains cautiously optimistic, despite widespread fears of a slowing global economy. “The good news is, this doesn’t feel like 2008. Interest rates are low, central banks are prepared to inject more liquidity if needed, and housing is coming off lows, not a peak, and seems to be improving,” Oberhelman said. The Peoria, Ill., company said July 25 that it generated $1.7 billion in net income, or $2.54 per share, from April through June. That’s up from $1.02 billion, or $1.52 per
see INTERCHANGE page 32
see PROFIT page 87
Edward Kraemer and Sons of Burnsville, Minn., sets the beams for the DDI bridge crossing over TH 52 last September. Bridge crews brought in American and Manitowoc 100-ton cranes to set the beams and used a Delmag 19 pile hammer to drive the pile. West Side Tr actor Holds Open House...14
New Minnesota Interchange Will Spur Local Development By Dick Rohland CEG CORRESPONDENT
Towmast er Annua l Expo a Succ ess.. .18
Table of Contents ..............4
Work on a Diverging Diamond Interchange (DDI), an innovative design and a first of its type to be built in Minnesota is taking shape on TH52 in the southeastern part of the state. Along with this project being one part of many to reach the Minnesota Department of Transportation’s (MnDOT’s) goal to make the highway a fully accessed controlled road between Rochester,
Backhoes and Attachments Section ........................33-47 Parts Section....................64 Paving Section ............69-83 Auction Section ..........89-99 Business Calendar............92 Advertisers Index ............98
AGC Releases Construction Employment Data Construction employment increased in just half the states plus the District of Columbia from June 2011 to June 2012, but declined in a slim majority of states in the past month, according to an analysis of Labor Department data by the Associated General Contractors of America. “The latest state data show again how frag-
ile and fragmentary the construction recovery is,” said Ken Simonson, the association’s chief economist. “Although private sector demand for structures has risen in most states, improvement in single-family homebuilding is spotty and public investment is shrinking.” Simonson noted that 25 states and D.C. added construction jobs between June 2011
and June 2012, while construction employment fell in 25 states. D.C. added the highest percentage of new construction jobs for the year (17.8 percent, 2,100 jobs), followed by North Dakota (16.2 percent, 3,800 jobs) and Montana (14.6 percent, 3,300 jobs). California added the most new construction jobs over the see AGC page 62