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January 28, 2017 • Vol. XX • No. 2 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910
MCI-EFI Reveals Confidence at All-Time High
AED Brings Construction Industry Together…10
Crews from Mortenson Construction started work on the construction of the $524 million new Milwaukee Bucks Arena/entertainment complex last June, which will become the new home of the NBA’s Milwaukee Bucks and the Marquette Golden Eagles men’s basketball NCAA Division I team. Alex Lyon & Son Conducts Liquidation Auction…58
$524M Milwaukee Bucks Complex Proceeds Rapidly By Irwin Rapoport CEG CORRESPONDENT
DTW Embarks on Runway Reconstruction…59
Table of Contents........ 4 Parts Section.............. 52 Paving Section...... 59-71 Business Calendar...... 72 Auction, Profiles Section ................................76-85 Advertisers Index...... 86
Crews from Mortenson Construction started work on the construction of the $524 million new Milwaukee Bucks Arena/entertainment complex last June, which will become the new home of the NBA’s Milwaukee Bucks and the Marquette
The Equipment Leasing & Finance Foundation (the Foundation) released the January 2017 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) Jan. 19. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 73.4, an increase from the December index of 67.5, and the highest index since the MCI was launched in May 2009 to track recovery after the 2008 downturn. When asked about the outlook for the future, MCIEFI survey respondent Thomas Jaschik, president, BB&T Equipment Finance, said, “The outlook for U.S. companies has become much more positive since the presidential election. Lower taxes, less regulation and rising interest rates will be the catalyst to spur capital asset acquisitions. This will undoubtedly set the stage for robust equipment finance activity.”
Golden Eagles men’s basketball NCAA Division I team. The Bucks currently play their home games at the BMO Harris Bradley Center, which was built in 1988. The new 714,000 sq. ft. (66,332 sq m) arena and multi-purpose sports and entertainment facility is owned by Wisconsin Center District and should be completed in
January 2017 Survey Results The overall MCI-EFI is 73.4, an increase from the December index of 67.5. • When asked to assess their business conditions over the next four months, 74.2 percent of executives responding said they believe business conditions will improve over the next four months, an increase from
see BUCKS page 46
see CONFIDENCE page 54
FTA Announces $1.07B in Funding for CTA The Federal Transit Administration (FTA) announced approximately $1.07 billion in federal grant funds to the Chicago Transit Authority (CTA) for the first phase of the Red and Purple Modernization Project. The project will reconstruct a section of the rail lines on the north side of Chicago to expand capacity on one of CTA’s busiest corridors.
The project involves construction of track improvements north of the Belmont Station to relieve a bottleneck at the junction of the Red, Purple and Brown lines; reconstruction and expansion of four stations to better accommodate current and projected demand; upgrades to the power, track and signal systems; and the purchase of 32 new rail cars.
Federal funds include a core capacity construction grant agreement for $956.61 million through FTA’s Capital Investment Grant (CIG) Program. (This story also can be found on Construction Equipment Guide’s website at www.constructionequipmentguide.com.)