Related Links: The appeal of renting equipment and renting for longer terms is increasing among contractors because of "the uncertainty created by the economic downturn of the last few years and an unwillingness to commit to purchases, given the work situation," says Sidney Sexson, senior vice president at Wells Fargo Equipment Finance, Tempe, Ariz.Scarce new development activity amid tight lending conditions has ratcheted up the rivalry among job-hungry contractors, leaving more firms vying for fewer projects. The increased competition has narrowed already slim bidding margins, forcing contractors to eke out a financial edge wherever possible. For some firms, that has
Canada’s SNC-Lavalin has taken pains to repair its scandal-tainted brand as it pushes market growth and global expansion. In a cost-cutting move, the engineer-constructor giant soon will sell its much-photographed corporate headquarters property.