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“The Nation’s Best Read Construction Newspaper… Founded 1957.” September 22, 2012 • Vol. VIII • No. 19 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215/885-2900 • Toll Free 800-523-2200 • Fax 215/885-2910 • www.constructionequipmentguide.com
Inside
Lawn Stars
Terex Utilities Names New Vice President...10
Gar y Fisher Joins Kolberg-Pioneer...16
Contractors, Equipment Shine on National Mall Makeover see story on page 8
Ritchie Bros. Holds Sale in Houston...48
Table of Contents ................4 Attachment Section ....11-13 Crushing, Screening & Recycling Section ........15-25 Truck & Trailer Section29-32 Auction Section ..........43-49 Business Calendar ............44 Advertisers Index ..............50
Yearly Spending Continues Growth Despite July Dip Construction spending in July maintained consistent year-over-year growth despite a pullback from the June peak, according to an analysis of new federal data released Sept. 4 by the Associated General Contractors of America. Association officials said they expect the disparity between private and public construction to persist unless Washington acts to fix infrastructure funding challenges and pass long-delayed measures. “The July spending numbers send a very mixed message,” said Ken Simonson, the association’s chief economist. “Construction of new homes, apartments and most private nonresidential structures appears to be driving gains in construction activity even as the public sector continues to drag on broader sector growth.” Simonson noted that total construction spending declined 0.9 percent for the month but climbed 9.3 percent from July 2011 to July 2012 as well as for the first seven months of 2012 combined, compared with the same period in 2011. Private residential spending dropped 1.6 percent for the month but was 19 percent higher than in July 2011. Private nonresidential construction slumped 0.9 percent for the month but grew 12 percent yearover-year. Public construction slid further, edging see GROWTH page 10
Equipment Lease Finance Industry Confidence Neutral The Equipment Leasing & Finance Foundation (the Foundation) released the August 2012 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). 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 $628 billion equipment finance sector. Overall, confidence in the equipment finance market is 50.2, down from the July index of 51.5, reflecting ongoing industry con-
cerns over economic, regulatory and political uncertainty. When asked about the outlook for the future, MCI survey respondent John McQueen, executive vice president and head of Wells Fargo Equipment Finance, said, “My long term view of the equipment finance industry is strong; the shorter term view of the U.S. economy and worldwide economy is volatile. The U.S. economic growth rate and the stability for the economy will continue to slow business investment.”
August 2012 Survey Results The overall MCI-EFI is 50.2, down from the July index of 51.5. • When asked to assess their business conditions over the next four months, 6.3 percent of executives responding said they believe business conditions will improve over the next four months, down slightly from 6.5 percent in July. 78.1 percent of respondents believe business conditions will remain the same over the next four months, up from 71 percent in July. 15.6 percent believe business conditions will see LEASE page 10