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March 11, 2017 • Vol. XX • No. 5 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910
Detroit Demolitions to Reignite Growth in City By Irwin Rapoport CEG CORRESPONDENT
IAAP Hosts Annual Convention…10
Ritchie Bros. Holds Record-Breaking Auction…86
The municipal authority of Detroit has been engaged in a program to demolish nearly 40,000 structures across the city as part of its plan to rebuild and renew the city and spark reinvestment. Thus far, more than 10,700 homes, apartment buildings, schools and other buildings have been demolished by approximately 20 demolition contractors since 2014 and the program is expected to be completed between 2020 and 2022. The properties are owned by the Detroit Land Bank and the demolitions are being managed by the Detroit Building Authority (DBA), which is handing out the contracts and taking all the necessary measures to minimize the complexity of the work. The demolitions are expected to cost between $500 million and $1 billion and are being funded by the U.S. Treasury’s Hardest Hit Fund. The largest contractor, Adamo Demolition Company, has accounted for close to 2,200 homes and 200 buildings. see DEMOLITION page 52
IronPlanet/CAS Hosts Florida Auctions...92
Table of Contents.............4 Attachment Section ...................................31-34 Recycling Section.....53-67 Trucks & Trailer Section ...................................73-79 Auction Section........ 84-97 Business Calendar..........85 Advertisers Index.......... 98
The municipal authority of Detroit has been engaged in a program to demolish nearly 40,000 structures across the city as part of its plan to rebuild and renew the city and spark reinvestment.
Fabick Cat Hosts Vice President Pence
V
ice President Mike Pence visited the St. Louis headquarters of Fabick Cat on Feb. 22. He was joined by Missouri Gov. Eric Greitens as he participated in a round table discussion hosted by the company’s CEO, Doug Fabick. After meeting with Fabick executives and a small group of other St. Louis area business leaders, the Vice President took a brief tour of the facility where he spoke with a number of Fabick technicians as they demonstrated the work they do servicing Caterpillar equipment.
Vice President Mike Pence visited the St. Louis headquarters of Fabick Cat on Feb. 22.
His visit to the dealership was capped off by formal remarks to a group of more than 400 company employees and invited guests. Gov. Greitens introduced the Vice President. “This was an incredible honor for Fabick Cat and all of our employees,” said Doug Fabick. “It was an amazing way to help kick off our Centennial Anniversary. One hundred years ago this year, John Fabick Sr. founded the company that has grown to become one of the largest and most successful Caterpillar see PENCE page 26