Following an independent report’s sharp criticism of its dam safety culture,
California’s Dept. of Water Resources named a new director and restructured its executive team as work crews continue a $500-million project to repair the spillways at Oroville Dam.
If the kids in your life got Legos from Santa this holiday season, there's a pretty good chance they didn't build anything quite this big. David Szmandra's Lego crane creation – a 1:24-scale Liebherr LR11000 – reaches more than 24 ft. tall when the boom is fully raised, Sploid reported….
Congress passed the Tax Cuts and Jobs Act (H.R. 1) code and now awaits President Trump's signature. The House of Representatives passed the bill 227 to 203 and the Senate passed it by a vote of 51 to 48. The bill, in part, lowers the corporate income tax rate to 21 percent, repeals the corporate alternative minimum tax (AMT) and allows for the immediate write-off of capital purchases (excluding land) through 2022….
State, local and federal officials were joined by construction crews to celebrate the completion of the two 515-ft.-tall towers for the new bridge under construction at the Port of Long Beach. The “topping-out” ceremony marked the end of a three-year construction process to build the signature towers that will be the centerpieces of California's first cable-stayed bridge for vehicular traffic….
A new medical school is coming to Utah County in 2021. Developed by Wasatch Educational, the Noorda College of Osteopathic Medicine plans to begin admitting students in August 2021 and will enroll 150 students per year for the first four years and 175 students per year after that. Named after the Ray and Tye Noorda Foundation, who have committed $50 million towards the project, the Noorda College of Osteopathic Medicine (NCOM) will be a premier medical and research school offering innovative and transformational curriculum and advanced medical technology focused on preparing physicians who will provide high-quality healthcare services including preventative care to help people stay well….
RC Tag Tilt trailer pulled by a Peterbuilt 8×8.
One of a kind.
It can lift/haul a heavy machine. Not enough room for any of my excavators. But that is ok. A couple of my excavators weigh about 80 LBS. Ouch!! Not many RC trailers will haul those heavy machines.
Anyway, this trailer is Awesome!
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The Associated Builders and Contractors New Hampshire and Vermont Chapter's Young Professionals Group (ABC YPG) recently hosted their 3rd Annual Charity Bowling Tournament at Merrimack Ten Pin Center in Merrimack, N.H. Twenty teams competed in the event, raising $2,500. The proceeds were presented to representatives of the Granite United Way….
Then he said to them, “Whoever welcomes this little child in my name welcomes me; and whoever welcomes me welcomes the one who sent me. For it is the one who is least among you all who is the greatest.”
New construction projects always come with a set of challenges, but the site and lifting needs are usually straight forward enough that several different crane options fit the requirements. Building reconstruction, on the other hand, typically comes with its own unique challenges. Often, there are obstacles in the way that make selecting the right crane much more difficult, and bidding the right crane can be the difference between getting the job and moving on to the next opportunity….
The U.S. transportation infrastructure market is anticipated to rebound slightly next year, following a 2.8 percent drop in 2017, according to the American Road & Transportation Builders Association's economic forecast released Nov. 30. Total domestic transportation construction and related-market activity is forecast to reach $255 billion in 2018, a year-on-year increase of 3.2 percent after adjusting for project costs and inflation. The 2017 market performance is expected to come in at $247.1 billion. The 2017 market drop was largely driven by the overall national decline in state and local highway and bridge spending, which is expected to be down 6.4 percent and 7.7 percent, respectively….
What shall we say, then? Is the law sinful? Certainly not! Nevertheless, I would not have known what sin was had it not been for the law. For I would not have known what coveting really was if the law had not said, “You shall not covet.”
NEW YORK (Reuters) – Investors and Boeing Co gave two thumbs down on Tuesday to aerospace and industrial company United Technologies Corp $23 billion plan to buy avionics maker Rockwell Collins Inc.
The acquisition, announced on Monday, would be the largest in aerospace history and create a new player in the top echelon of suppliers to Boeing, Airbus, Bombardier and other plane makers.
United Tech shares were down 5.2 percent after Boeing said it would and use the power granted by its contracts with the companies, and its sway with regulators, “to protect our interests.”
The stock had fallen more than 4 percent before Boeing’s statement, as analysts factored in United Tech’s decision to halt share buybacks for three to four years and earnings dilution caused by the cash-and-stock deal. Analysts expected $2 billion in buybacks in the second half of 2017 alone.
The loss of years of buybacks and Boeing’s unusual blowback came as plane makers are pressing United Tech and other suppliers for price cuts and trying to compete against them on high-margin services and spare parts.
By making more of the components used on each Boeing and Airbus SE aircraft, analysts say, United Technologies-Rockwell Collins would gain leverage to resist that pressure.
United Tech Chief Executive Greg Hayes, who would lead the combined company, brushed aside Boeing’s concerns.
“The whole idea of this deal is to be able to drive more innovative solutions at lower cost for our customers – both the (plane makers) and the airlines,” Hayes told Reuters on Tuesday, shortly before Boeing issued its criticism.
Rockwell’s skill with software combined with United Tech’s expertise in numerous aircraft components allows the company to offer new “digital” products that airlines want, he said.
“We’ll be able to do predictive analytics that many others can’t do, and that’s how you add value to airline customers,” Hayes said, referring to data-crunching that allows airlines to spot problems in engines and other components before they fail.
HAYES ASSURED ENDERS
Hayes said he had assured Airbus CEO Tom Enders that United Tech’s Pratt & Whitney unit will stay on track to deliver between 350 and 400 jetliner engines this year.
Traders work at the post where United Technologies stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 5, 2017. REUTERS/Brendan McDermid
United Tech fell behind on engine deliveries this year due to production problems, and Airbus raised concern last week about the deal distracting United Tech.
“Pratt has nothing to do with this,” Hayes said, noting United Tech’s aerospace unit, not Pratt, will combine with Rockwell Collins to create Collins Aerospace.
Hayes also knocked down speculation that the purchase would prompt United Tech to spin off its Carrier air conditioner or Otis elevator units, saying the company needs their cash flow to help pay down debt from the deal.
But Hayes did not rule out such sales in the longer term.
FILE PHOTO: The ticker symbol for United Technologies is displayed on a screen on the floor of the New York Stock Exchange July 20, 2015. REUTERS/Brendan McDermid/File Photo
“After the deal is done, and after we pay down some debt, we’re going to go back and look,” he said.
If the company’s share price does not reflect its value, he said, “we’ll need to do something.”
United Tech could sell “non-core pieces” such as home security in the meantime, Hayes said. But given taxes and lost earnings, “it’s hard to make financial sense out of those transactions” unless they fetch a high price, he said.
Rockwell’s shares rose 0.3 percent to $131.00 in afternoon trading. United Tech shares, part of the Dow Jones industrial average, fell 5.2 percent to $111.82.
“We see limited upside near term as share repurchase is withdrawn and deal timing becomes an investor focus,” analyst Jeff Sprague at Vertical Research Partners said in a note.
United Tech’s engines and systems portfolio has little overlap with the avionics, seats and interiors businesses of Rockwell, which Hayes said should mean little trouble during the necessary regulatory review.
The combination, if successful, would mark the rise of a second engines-to-seating supplier, after jet-engine maker Safran SA’s pending $7.7-billion deal to buy seat maker Zodiac Aerospace. Safran said on Tuesday it would look at assets that might come up for sale after the United Tech-Rockwell deal.
United Tech expects to borrow $15 billion and will assume $7 billion in Rockwell debt to fund the deal, which is expected to close by the third quarter of 2018.
United Tech said the acquisition would add to earnings in its first full year and yield at least $500 million in cost savings by the fourth year of operation.
Additional reporting by Lewis Krauskopf, Tim Hepher and Mike Stone; Editing by Nick Zieminski and Meredith Mazzilli
For the ninth consecutive year, EMCOR Group, Inc., a construction company, has announced that thousands of its employees throughout the U.S. will commemorate Breast Cancer Awareness Month in October by wearing EMCOR pink hard hats in support of the company's "Protect Yourself. Get Screened Today." campaign….
PROVIDENCE, R.I. (AP) Rhode Island has unveiled a new home for veterans on Veterans Day. Democratic Gov. Gina Raimondo hosted the state's Veterans Day ceremony and a traditional ribbon cutting on Nov. 11 at the home in Bristol, R.I. Veterans began moving in prior to the ceremony. The new 208-bed home allows veterans to live in cottages equipped with a private bedroom and bathroom….