U.S. small business borrowing drops to six-month low | Reuters news

U.S. small business borrowing drops to six-month low| Reuters
 

In a sign that economic growth may soften ahead, borrowing by small U.S. firms dropped to a six-month low in April, data released on Thursday showed.

 

The Thomson Reuters/PayNet Small Business Lending Index dropped a third straight month in April to 123.1, down 5 percent from last April and the lowest level since October.

 

Movements in the index typically correspond with changes in gross domestic product growth a quarter or two ahead. The U.S. economy grew at a 1.2 percent annual pace in the first quarter, though the Atlanta Fed currently projects second-quarter expansion at a brisk 3.8 percent pace.

 

 

A separate barometer of small companies’ financial health suggests companies having more trouble paying off old loans. The share of loans more than 30 days past due was 1.7 percent in April, the highest rate in more than four years, PayNet data showed.

 

“That’s a bad cocktail: falling investment and rising loan delinquency,” said Bill Phelan, PayNet’s chief executive and founder. “It certainly is going in the wrong direction.”

 

 

Though still well below the crisis-era peak of 4.7 percent, the rise suggests an erosion in financial health that could spell trouble for future borrowing.

 

Healthcare was hit particularly hard, with borrowing falling 14 percent in April as the young Trump administration struggled to deliver on a promise to replace Obamacare with a new health insurance system.

 

 

Small business borrowing is a key barometer of growth because small companies tend to do much of the hiring that drives economic gains.

 

PayNet collects real-time loan information such as originations and delinquencies from more than 325 leading U.S. lenders.

 

(Reporting by Ann Saphir; Editing by Chizu Nomiyama)

 

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State to Remove I-90 Traffic Restrictions for Memorial Day – Construction news

Heavy Construction News

 

📅   Fri May 26, 2017 – West Edition

 

Photo: http://url.ie/11sxo

Photo: http://url.ie/11sxo

 

Lane restrictions on Interstate 90 through the city of Spokane will be removed this weekend to help Memorial Day traffic.

Work to fix concrete panels and bridge expansion joints on the freeway has been causing major traffic backups eastbound from downtown Spokane.

The Spokesman-Review reports the state normally clears away construction-related traffic restrictions during major holidays.

The situation is going to become more difficult after the holiday. That’s because westbound traffic will also be reduced to two lanes through the construction area.

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Walsh Equipment Holds First in a Series of Open Houses – construction news

Heavy Construction News

 

📅   Fri May 26, 2017 – Northeast Edition #11

 

Walsh Equipment’s Mike Walsh welcomes attendees to the dealership’s regional open house event at the grounds of the Pioneer Steam & Gas Society in Saegertown, Pa.

Walsh Equipment’s Mike Walsh welcomes attendees to the dealership’s regional open house event at the grounds of the Pioneer Steam & Gas Society in Saegertown, Pa.

Walsh Equipment held the first in a series of four planned regional open house events on the grounds of the Pioneer Steam & Gas Society in Saegertown, Pa., on May 17. The event attracted a crowd of approximately 200 of Walsh Equipment’s customers from northwestern Pennsylvania who came to see the latest equipment offerings from the dealership. JCB equipment featured prominently with two new machines — the Hydradig and Teleskid, both of which debuted in the United States at ConExpo.

Introduced worldwide 18 months ago, the JCB Hydradig wheeled excavator and tool carrier was designed from the ground up to specifically address customer needs and concerns. The five key features which inspired the machines’ design are mobility, maneuverability, stability, visibility and serviceability.

With engine and pumps built into the chassis, the Hydradig’s low center of gravity provides increased stability while the position of the cab offers added visibility.

The Hydradig has three steering options including 2 wheel, 4 wheel and crab steer modes, is capable of speeds of up to 25 mph and can tow a 7,000 lb. trailer.

JCB’s Teleskid, with its telescopic boom, is a hybrid machine that can function as both a skid steer and a telehandler.

Both of the product introductions are powered by JCB EcomaxTier IV Final engines that do not rely on a diesel particulate filter and do not regenerate.

Attendees enjoyed a catered lunch while visiting with the Walsh Equipment personnel and manufacturer representatives from many of the dealership’s equipment lines. As well as a full lineup of JCB machines, representatives from LeeBoy paving equipment, Hi-Way Equipment Company and Gledhill snow removal were on hand to present their equipment on display at the event.

According to Walsh Equipment President Charlie Walsh, while they plan to continue holding the popular events at the dealership’s headquarters, this year they elected to conduct a series of smaller regional events to enable more individual time with those in attendance. The next regional open house will be Aug. 3 in Washington, Pa.

Celebrating 85 years in business this year, Walsh Equipment is a family owned company with third generation Charlie Walsh serving as company president. Headquartered in Prospect, Pa., the company also maintains a branch location in Lilly, Pa.

Operating as Walsh JCB, the company is a full-line JCB dealer serving central and western Pennsylvania. Along with JCB, the dealership also is an authorized dealer of J&J Truck Bodies & Trailers, LeeBoy, Rosco, Schwarze street sweepers, Tiger mowers, and Gledhill and Western snowplows.

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PHL Airport Kicks off Fifth Annual Infrastructure Week – Construction news

Heavy Construction News

 

📅   Fri May 26, 2017 – Northeast Edition #11

 

Philadelphia International Airport photo
Former Gov. Ed Rendell emphasizes the need for funding to improve airport facilities.

Philadelphia International Airport photo
Former Gov. Ed Rendell emphasizes the need for funding to improve airport facilities.

Philadelphia International Airport (PHL) hosted “Airport Investment — The Key to America’s Competitiveness” on May 15, as part of the fifth annual Infrastructure Week, a national week of education and advocacy for the nation’s infrastructure.

Modernizing America’s airports was the focus of the press conference hosted by PHL CEO Chellie Cameron with former Pennsylvania Gov. Ed Rendell, co-chair of Building America’s Future, and Kevin Burke, president of Airports Council International — North America (ACI-NA).

Speakers who voiced bipartisan, regional support for robust infrastructure investment for airports included United States Sen. Chris Coons (D-DE), and Reps. Brendan Boyle (D-PA), Patrick Meehan (R-PA), and Donald Norcross (D-NJ).

The elected officials as well as the hosts and media participated in an airfield tour of PHL’s capital infrastructure projects including a runway extension that will be completed next year. The extension to 12,000 ft. will give PHL the third longest on the East Coast, after JFK’s two runways.

“We are proud to host this event, which focuses on increasing investment in our nation’s airports in order to compete in the 21st century global economy,” said Cameron. “Securing sustainable funding for new capital projects is vital for PHL to remain competitive into the future and for the growth of our regional economy.”

Along with other airports across the country, PHL is trying to align current funding resources with growing infrastructure needs to help close the identified $10 billion a year funding gap nationwide for airport infrastructure improvements.

Philadelphia International Airport is owned and operated by the city of Philadelphia. The airport is a self-sustaining entity that operates without the use of local tax dollars. It is one of the largest economic engines in Pennsylvania, generating an estimated $15.4 billion in spending annually and supporting more than 96,300 full-time jobs for the 11-county Philadelphia MSA.

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Work Begins on Flooded-Out West Virginia Bridge – Construction news

Heavy Construction News

 

📅   Fri May 26, 2017 – Northeast Edition #11

 

Credit Kyle Grillot for The New York Times

Credit Kyle Grillot for The New York Times

 

Construction has begun on a replacement for a flooded-out bridge leading to a mall in Elkview, W.Va.

The Kanawha County Commission said in a news release that construction on the culvert bridge at the Crossings Mall should be completed in about two months.

Tara Retail Group owns the mall and is headed by developer Bill Abruzzino, who filed for bankruptcy in January. A federal bankruptcy judge approved a financing plan for the new bridge, in April.

The mall has been closed since floodwaters knocked out the bridge last June. Dozens of businesses have closed and more than 500 people are out of work. The floods killed 23 people statewide.

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Ford tops GM in U.S. vehicle sales in May, driven by fleets| Reuters

Ford tops GM in U.S. vehicle sales in May, driven by fleets| Reuters
 

DETROITFord Motor Co (F.N), bolstered by heavy sales to fleet customers, surpassed General Motors Co (GM.N) in U.S. new vehicle sales in May, according to figures reported early Thursday.

 

Ford said May sales rose 2.2 percent from a year ago to 241,126 units. GM sales dropped 1.3 percent to 237,364.

 

GM said it had been trimming sales of heavily discounted vehicles to car rental companies. Such fleet sales made up about 19 percent of its total sales in May.

 

Ford’s fleet sales rose 8.4 percent, representing more than 34 percent of total sales. The industry average is around 20 percent.

 

 

Analysts had expected mixed results for the industry, with sales likely propped up by heavy discounts.

 

Fiat Chrysler Automobiles (FCHA.MI)(FCAU.N) said May sales dipped 0.9 percent to 193,040. Toyota Motor Co’s U.S. sales dropped 0.5 percent to 218,248. Nissan Motor Co (7201.T) said U.S. sales in May rose 3.0 percent, to 137,471.

 

 

After demand fell in March and April, analysts estimated May sales at just over 1.5 million. The seasonally adjusted annual rate of sales in May was estimated at 16.8 million to 16.9 million vehicles, about the same as April. A year earlier, sales stood at 17.55 million vehicles.

 

Early reports indicated that sales over the three-day Memorial Day weekend were helped by heavy discounts.

 

 

“While demand for new vehicles is still relatively strong, it’s a bit of smoke and mirrors,” said Jessica Caldwell, executive director of industry analysis at Edmunds, the car shopping website.

 

Manufacturers and dealers “really pushed the deals over the holiday weekend to prop up their May numbers,” she said. “Incentives were up sharply, and it seems automakers are putting more cash on the hood to nudge car shoppers to buy versus lease.”

 

General Motors dealers were offering discounts of up to $12,000 on the full-size Chevrolet Silverado pickup, while some dealer discounts on Ford Motor Co’s F-series pickups were more than $10,000 on 2017 models and more than $14,000 on leftover 2016 models. The 2017 model year started eight months ago.

 

(This story corrects paragraph 6 to say Toyota’s U.S. sales dropped 0.5 percent to 218,248; earlier version said sales dropped 3.2 percent to 156,865)

 

(Reporting by Paul Lienert in Detroit; Editing by Bernadette Baum)

 

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Enerpac High-Capacity SL300 Hydraulic Gantry – Construction News

Enerpac High-Capacity SL300 Hydraulic Gantry

 

📅   Thu June 01, 2017 – National Edition

 

Enerpac SL300 Hydraulic Gantry

Enerpac SL300 Hydraulic Gantry

 

Enerpac introduces the SL300 Hydraulic Gantry, the company’s latest innovation in the SL series of telescoping hydraulic gantries. Equipped with two stage lifting cylinders, the SL300 lifts up to 22 feet at the top of the second stage and can handle up to 337 tons in the first stage.

Designed to meet stringent safety requirements, the SL300 complies with the safety standards set by ASME B30.1-2015. To ensure quality performance, each gantry is tested to 125 percent of capacity at full extension and witness-tested by a qualified, third-party organization. The SL300 is also CE-compliant.

“Providing a more advanced solution than standard lifting systems, the SL300 Hydraulic Gantry offers unique features such as a wireless control system and integrated self-propelled drive system. It’s sized to fit our 24-inch track gage,” said Peter Crisci, Enerpac. “These features, combined with safe, reliable performance, allow our customers to satisfy their complicated lifting applications.”

Featuring the Intellilift wireless control system, the SL300 provides optimum performance and allows for unobstructed views of the load. The control system allows users to operate the lift locally at each leg or use the Intellilift remote control. The wireless system ensures automatic synchronization of lifting with accuracy of 1 inch and automatic synchronization of travel with accuracy of 0.60 inch.

For enhanced durability, the SL300 offers a sturdy, proven base frame that can withstand a variety of environmental conditions. It can also be equipped with a powered side shift for easy operation.

For more information on the SL300 Hydraulic Gantry, visit: enerpac.com.

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GUCA Presents Its North Georgia Industry Luncheon – Construction News

GUCA Presents Its North Georgia Industry Luncheon

 

📅   Thu June 01, 2017 – Southeast Edition #12

 

Philip Siegel, Hendrick, Phillips, Salzman & Siegel, delivers a valuable message to GUCA members regarding OSHA citations and effective measures companies should take.

Philip Siegel, Hendrick, Phillips, Salzman & Siegel, delivers a valuable message to GUCA members regarding OSHA citations and effective measures companies should take.


The Georgia Utility Contractors Association (GUCA) North Georgia Industry Luncheon was recently held at The Smith House in Dahlonega, Ga. This was an open invitation event for GUCA members, prospective members, municipalities and government officials. No one in the area wanted to miss out on this opportunity to network while receiving time sensitive information and updates regarding the association and industry. More than 30 members and guests attended this meeting and took advantage of this great networking opportunity.

GUCA members and guests heard a presentation from Philip J. Siegel, Hendrick, Phillips, Salzman & Siegel. Siegel addressed issues regarding OSHA/Unforeseeable Employee Misconduct Defense.

He said that a contractor who has established and enforced a safety program may be able to defend successfully an OSHA citation based upon the defense of unforeseeable employee misconduct. He said contractors have been successful defending themselves against OSHA liability, in many cases, based upon showing unforeseeable, unpreventable, or isolated employee misconduct.

The employee misconduct defense relies on the following four established requirements to be effective: work rules to prevent the violation from occurring, adequately communicating work rules to employees in a language they can understand, systematic steps to discover violations of work rules and enforced disciplinary action rules including termination of employees who violate established work rules.

GUCA members and guests also were addressed by GUCA President Charlotte Garrett, Rockdale Pipeline. She welcomed everyone to the meeting and thanked BITCO Insurance Co. for its generous sponsorship. Garrett also encouraged the members to stay active and participate in future GUCA functions.

The importance of generating new membership was emphasized by Membership Committee Chairmen Dickey Watson, Industrial Chemicals. Watson also encouraged the members to stay active and participate in future GUCA functions and emphasized the importance of generating new membership in the North Georgia area. He promoted the 2016-2017 GUCA Membership Contest and emphasized how important it is building strong membership and relationships within the association.

Scott Brumbelow, GUCA assistant executive director, also updated those in attendance about upcoming events, safety classes and industry and legislative issues. Brumbelow also highlighted scholarship opportunities for GUCA members’ children, as well as workforce development issues. In addition, Scott promoted the GUCA affinity programs including the 401(k) MEP Plan and the BITCO Safety Dividend Program.

Georgia Utility Contractors Association Inc. is a non-profit state trade association located in metro Atlanta representing more than 390 contractor and affiliated firms statewide. GUCA represents the workforce who supplies, installs and rehabilitates the infrastructure of water, sewer, gas, electrical, telecommunications and other underground utility systems for the public and private sector including pipe and plant installation.

For more information, visit www.guca.com.

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Low Country JCB Celebrates Anniversary – Construction News

Low Country JCB Celebrates Anniversary :: Story ID: 34574 :: Construction Equipment Guide

 

📅   Thu June 01, 2017 – National Edition

 

(L-R): Jessica and Chris Shea, Low Country JCB owners, welcome Richard Fox-Marrs, JCB North America president and CEO, and Dusty Zeigler, original founding partner of Low Country Machinery and retired NFL lineman.

(L-R): Jessica and Chris Shea, Low Country JCB owners, welcome Richard Fox-Marrs, JCB North America president and CEO, and Dusty Zeigler, original founding partner of Low Country Machinery and retired NFL lineman.

Low Country JCB hosted a 15th anniversary celebration open house on May 12 at the company’s headquarters facility in Pooler, Ga. In addition to showing appreciation to the company’s valued customers, the event served as a celebration of the recent purchase of the distributorship by previous Low Country sales manager, Chris Shea.

A terrific crowd came out to celebrate the success of this distributorship and to see the newest JCB products, including the all-new JCB Hydradig, Teleskid, and Scissor Lifts. Guests also enjoyed the catered lunch and giveaways.

A number of representatives from JCB made their way from the JCB North American headquarters facility located virtually next door to Low Country JCB to show their support and to lend a hand in making this event a great success.—CEG

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Purple Line Project Presses on After Endangered Species Case Dismissed – Construction news

 

📅   Wed May 31, 2017 – Northeast Edition

 


Given recent court litigation that has caused extensive delays in the $5.6 billion Purple Line project, Maryland Department of Transportation (MDOT) Secretary Pete K. Rahn has outlined a path forward for the Purple Line.

The lawsuit involved considering the potential impacts to the Kenk’s amphipod, a freshwater crustacean that looks much like a shrimp. The species is currently found at a few spring-seep sites in Washington, D.C. and Montgomery County, Maryland making it a candidate for the endangered species list. A federal judge denied the case on May 30 after finding that environmental reviews did not violate federal protections of such endangered species.

Secretary Rahn has warned that significant changes to the project would occur unless the court acted on or about June 1. In response to Federal District Court Judge Richard Leon’s May 30 final ruling that two of three counts – covering 25 issues – filed by plaintiffs were without merit, the Office of the Maryland Attorney General immediately filed a notice of appeal regarding Leon’s decision to order further study of the project’s contested ridership estimates. The timeline for an appeal is not defined.

“With a legal path forward, MDOT’s and the Purple Line’s situation has changed from the unknown circumstances of just two weeks ago,” said Secretary Rahn. “With an unknown timeline for an appeal and dwindling available cash to carry the federal reimbursable costs being expended by MDOT; and to protect the taxpayers of Maryland, I am ordering that action be taken immediately.”

Secretary Rahn ordered the following steps:

• The contractor, Purple Line Transit Partners (PLTP), is directed to suspend the execution of new construction contracts; and

• PLTP is directed to suspend all procurements for non-essential materials and equipment; and

• PLTP is directed to freeze all hiring of construction staff; and

• MDOT Maryland Transit Administration (MDOT MTA) is directed to suspend all hiring of Purple Line oversight staff; and

• MDOT MTA is directed to suspend state funding of county design reviews; and

• MDOT State Highway Administration (MDOT SHA) and MDOT MTA are directed to pull from the Board of Public Works any requests for the purchase of right-of-way for the Purple Line project.

• All parties are directed to limit the obligation of further costs for the Purple Line project to those of agreed necessity.

Further steps should be anticipated as more information is available, Secretary Rahn said.

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J.F. Kiely Construction Opens N.J. Water Resources Division – construction news

Heavy Construction News

 

📅   Fri May 26, 2017 – Northeast Edition #11

 

 

J.F. Kiely Construction Co., part of the Kiely Family of Companies, is a design-build firm specializing in utility services. It is currently celebrating the grand opening of its water resources division located in Wall Township, N.J. The water resources division will focus on utility, municipal and private water resources work including transmission, distribution, treatment, and storage and specialty services.

“The creation of the water resources division allows us to focus on short and long term market growth as well as provide superior service to all of our water resources customers,” said John M. Kiely, president of the Kiely Family of Companies. “This new division will have its own dedicated water resources labor, buildings, yard, staff, tooling, vehicles and equipment along with the full support of our shared services unit,” Kiely continued.

J.F. Kiely Construction Co. is a stand-alone company residing in the Kiely Civil business unit of the Kiely Family of Companies and is a design/build provider of underground utility systems for the natural gas, petroleum, water industries. Established in 1952, J.F. Kiely Construction Co. performs work for publically traded utility companies, municipalities and private entities and employs hundreds of team members in multiple locations throughout the Northeast.

For more information, visit kielybuilds.com.

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Amtrak Announces New York Penn Station Improvements – construction news

Amtrak Announces New York Penn Station Improvements

 

📅   Fri May 26, 2017 – Northeast Edition #11

 

Amtrak photo
Amtrak crews pour concrete onto track 7 of New York Penn Station, in order to hold wooden ties in place that support rails that carry approximately 1,300 weekday train movements for three different railroads.

Amtrak photo
Amtrak crews pour concrete onto track 7 of New York Penn Station, in order to hold wooden ties in place that support rails that carry approximately 1,300 weekday train movements for three different railroads.


Amtrak President and CEO Wick Moorman announced a series of initiatives to strengthen railroad infrastructure and improve operations and preparedness at New York Penn Station, the nation’s busiest rail station and transportation facility.

“After only a short time here at Amtrak it has become apparent to me that we need to accelerate major renewal work in New York Penn Station,” said Moorman, who became CEO in September 2016. “Using our limited resources, we have made this renewal project a priority to ensure the continuity of travel in the region. Without these improvements, Amtrak, NJ TRANSIT and the Long Island Rail Road could continue to see major disruptions, which also could have an impact on passenger safety.”

Moorman added, “We at Amtrak understand the steps that must be taken to ensure a safe and reliable railway and will be working throughout the summer and beyond to make the required improvements. We will be collaborating with our partners at NJT and the LIRR to plan this work in order to minimize disruptions and inconvenience for our customers who rely on us for service.

“The simple fact of the matter is that some of the track and infrastructure in service today at Penn Station was built in the 1970s at a time when we were handling half the trains and a third of the customers that we do today,” Moorman said. “While a substantial amount of reconstruction has already been done at New York Penn Station, the remaining renewal work has been scheduled to take place over the next several years in order to minimize impacts on scheduled services. We can’t wait that long. This work needs to be done now.”

Penn Station Improvement Initiatives

New York Penn Station Infrastructure Renewal Program — Amtrak will undertake a series of major track and switch renewal projects in Penn Station, beginning with the western portion of the station area. The first set of projects will occur in the area of tracks and switches known as “A Interlocking,” which serves as the critical sorting mechanism routing trains that enter Penn Station from the Hudson River tunnels and the Long Island Rail Road’s West Side Yard to the various station tracks and platforms.

While Amtrak has maintained and repaired this aging infrastructure, some of which dates to the 1970s, full replacement is now required to improve the reliability of this infrastructure at this critical moment in the station’s history. Rather than proceed with the full replacement of these components across an extended period stretching out over several years, as originally scheduled, Amtrak now plans to advance this work through a series of major projects beginning in May and continuing through the fall to quickly achieve the benefits of this renewal work for its partners and passengers.

In addition to the work in A Interlocking, further renewal work of various station tracks will be undertaken through approximately June 2018, with a majority of that work done on weekends.

These projects will require track closures, operational coordination and schedule changes, which will impact the service of all of the railroads operating in Penn Station. Amtrak will work with its partner railroads and other affected entities as it develops the schedule for this needed work and will make every effort to minimize disruptions to all customers.

Once this plan is finalized, Amtrak and its partner railroads will communicate the plan and its impact to the public and provide continuous updates as the work progresses.

New York Penn Station Passenger Concourse Coordination Review — Amtrak has commissioned former Metropolitan Transportation Authority CEO and Chairman Tom Prendergast to independently review the interaction, coordination and collaboration between the railroads’ various passenger concourses within Penn Station. The review will focus on the current methods of managing daily operations within the station concourses, including during disruptions, events or incidents, as well as look for opportunities to strengthen coordination between all parties to improve the passenger experience, safety and security. While Amtrak is the owner of Penn Station, passenger concourse operations and control of various areas within the station are managed individually by Amtrak, LIRR and NJT.

Prendergast will review these relationships and develop recommendations on how the three railroads, working with other relevant parties, can improve the passenger experience, signage and wayfinding, video and communications, and incident response across the entire station.

Development of a Joint Station Concourse Operations Center — Amtrak is proposing that the three railroads serving Penn Station develop a joint station concourse operations center that brings together the managers of the various Penn Station concourses and technology to strengthen coordination, enhance the passenger experience and improve its responses to disruptions, incidents and other events that occur anywhere in the station.

While the tracks and other railroad operational elements of Penn Station are controlled at the Penn Station Control Center facility, which brings together all three railroads in various capacities, management of the station’s passenger concourses lacks a similarly integrated facility to promote information-sharing, joint decision-making and the leveraging of technology. Amtrak will be seeking the support of LIRR and NJT to jointly plan, develop and staff a new facility at Penn Station and will use the results of the Penn Station Passenger Concourse Coordination Review to further inform these efforts.

Safety & Security — Amtrak will assemble a task force with partner railroads, first responders, law enforcement and other stakeholders to review protocols relating to disabled trains and ensure that adequate procedures are documented, trained and exercised. The task force will also examine the need for additional equipment and technology and review the functions of personnel during an incident to ensure that existing protocols are comprehensive and appropriate. The findings of the task force will be used to help inform the Penn Station Passenger Concourse Coordination Review efforts.

Additionally, Amtrak is creating a mobile response team to address potential station overcrowding during peak periods, further equipping its New York Division Amtrak Police Department (APD) officers with multi-band interoperable radios to improve intra-agency communication and is already in the process of updating its Video Surveillance and Access Control System design for Penn Station platforms, tunnels and ventilation shafts.

Additional information and updates about the New York Penn Station Improvement Initiatives will be posted at Amtrak.com and Amtrak.com/NYPrenewal.

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Strong Credit Aids DelDOT Bond Sale for Capital Projects – construction news

Heavy Construction News

 

📅   Fri May 26, 2017 – Northeast Edition #11

 

 

The Delaware Department of Transportation said it completed a successful Delaware Transportation Authority bond sale on April 26, providing $75 million in funding for capital projects at a true interest cost of 2.67 percent.

Transportation Secretary Jennifer Cohan said: “The rating agencies have given us high marks for a sound and well-managed financial plan. This latest bond sale comes at an opportune time because the interest rates to pay back this money are favorable.”

The announcement also said the bond sale “affirmed the importance of the excellent bond ratings the department has received from [debt rating firms] Standard & Poor’s and Moody’s.” The bonds were affirmed as AA+ by Standard & Poor’s, and Aa2 rating by Moody’s Investors Services, DelDOT said.

DelDOT said those transportation system senior revenue bonds were issued to provide funds for DelDOT’s capital transportation program, while it will use another $41 million of bond proceeds to refund outstanding higher-cost bonds and save the department more than $3.2 million in scheduled debt-service payments.

DelDOT said both rating agencies also assessed a “stable” outlook for the state’s transportation system revenue bonds, based on the strength and diversity of pledged revenues and limited anticipated future borrowing, which suggests that coverage of anticipated debt service will remain satisfactory.

They also cited Delaware’s strong commitment to its transportation program, which includes the state’s willingness to enhance transportation-related revenues statewide to support capital and infrastructure investments.

DelDOT said the solid ratings also reflect the diverse mix of pledged revenues that has contributed to revenue stability even during poor economic conditions, the Transportation Authority’s strong historical and projected debt-service coverage, rapid amortization of debt outstanding and a clearly articulated capital transportation plan.

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Husqvarna Introduces New Quiet DC 200 Drum Cutter – Construction news

Heavy Construction News

 

📅   Fri May 26, 2017 – National Edition

 

Husqvarna DC 200 drum cutter.

Husqvarna DC 200 drum cutter.

 

The Husqvarna DC 200 is a versatile attachment made for surface profiling rock or concrete, trenching, excavating frozen soil, soft rock excavation in quarries, demolition and dredging. The 56 tungsten carbide-tipped picks on each side of the machine rotate and chip away at the surface material to the desired depth or complete removal. If the material is not completely removed, a smoother, more uniform surface results as well as smaller, finer grain sizes so material can be removed more easily or used as back fill without additional crushing. The DC 200 is suitable for use on restricted job sites and sensitive urban areas due to the low noise and low vibration levels, according to the manufacturer.

Main Benefits

• Versatile — for trenching, surface removal and profiling in rock, concrete or hard soil

• Improved efficiency —software solution enables sufficient flow and pressure for maximum working efficiency and mobility

• Low noise and vibrations — suitable for use in sensitive areas

• Precise — produces an even surface and smaller grains

Technical Specifications

• Total width cutting head, in. (cm): 20 (50)

• Diameter of cutter drum, in. (cm): 9 (24)

• Number of picks: 56

• Max cutting force @ 5,075 psi, lbs. (kg): 2,835

(1,286)

• Max torque @ 5,075 psi, lbs. (kg): 1,900 (862)

• Max rock hardness, psi: 2,900

• Service weight, lbs. (kg): 441 (200)

For more information, visit www.husqvarnacp.com.

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PennDOT Secretary Leslie S. Richards Receives Peter Quinn Leadership Award – Construction news

Heavy Construction News

 

📅   Fri May 26, 2017 – Northeast Edition #11

 

Pennsylvania Transportation Secretary Leslie S. Richards

Pennsylvania Transportation Secretary Leslie S. Richards

 

Pennsylvania Transportation Secretary Leslie S. Richards was given the Peter P. Quinn leadership award from the Greater Valley Forge (GVF) Transportation Management Association at a ceremony in King of Prussia.

The Quinn award is given annually to recipients who have embodied his spirit of leadership and his belief of giving back selflessly in all that you do. Quinn, the late founding director of GVF, worked in many different industries and leadership positions across the United States and throughout the world. He always believed in giving everything in advancing programs or initiatives that improve the greater good for all. The award has been given annually in his honor to individuals in transportation who have been an example of that philosophy.

“As a former planner, I am deeply honored with this award from my colleagues in the planning community,” Richards said. “I am committed to a collaborative approach at PennDOT as we work to improve mobility and safety in our transportation networks and I am gratified by this affirmation.”

Richards was cited for being a leader in developing a cultural change within PennDOT and throughout the transportation sector in Pennsylvania and the United States.

“She has worked to chart a new course for PennDOT, and we have been impressed with her emphasis on integrating planning into all of what PennDOT is working on,” said Rob Henry, GVF executive director.

Richards also has been a leader with the development of the autonomous vehicle task force, which is working with mobility organizations who are advancing the transportation system through technology.

“We are very honored to work with Secretary Richards and to award her with the Peter P. Quinn Leadership Award,” Henry said. “Secretary Richards has been a shining example of giving selflessly to advance mobility throughout Pennsylvania. PennDOT is now fully integrating planning into all its efforts, and is on the forefront of advancing technologies for commuters in Pennsylvania that will be pay dividends for many years to come. The Secretary has also been a longtime friend of GVF, and we are truly honored to give her this award.”

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