It will come as no surprise that merger and acquisition activity in the construction industry has decreased in the past 18 months. The same is true across all sectors of the economy. Acquisitions that were completed were strategically focused. However, for those companies with the financial resources, the past 18 months have presented opportunities for growth and expansion at a reasonable price. Strategic vs. Financial The current trend in mergers and acquisitions (M&A) is toward strategic rather than purely financial deals. Buyers and sellers often are looking for a strategic match that complements their business, expands their geographic presence or
Investment in and outreach to the community can be much more than just feeling good about helping others. If giving back flows creatively from the values of your company, it will help retain your best employees, recruit new ones and integrate your company as part of the community. The question becomes not only, “Is it worth more than the good feelings giving back brings?” but also, “How does my company build—or improve—our strategy for investing in the community?” What Employees Want Today’s employees are looking at a bigger picture of their employer, asking more than just what their compensation will
Las Vegas� $8.5-billion CityCenter development � the country�s largest privately backed project � may soon have the country�s largest mechanic�s lien. Tutor Perini Corp., Sylmar, Calif., recently notified co-developers MGM Mirage Inc., Las Vegas, and Infinity World Development Corp., that it planned to file a $492-million mechanic�s lien on the seven-building, 18-million-sq-ft complex of hotels, homes and entertainment space. The news was disclosed in a Mar. 12 MGM Mirage (NYSE: MGM) Securities and Exchange Commission filing. Photo courtesy of CityCenter Land LLC The closeout of CityCenter, the country�s biggest private project, may get complicated. Related Links: Strip Superstar: CityCenter makes
The University of Nevada, Las Vegas, claims that a three-year-old student recreation facility at its main campus fails to meet some seismic requirements under the 2002 Uniform Building Code. The structure remains open, but a warning notice is posted. Photo: Luetta Callaway Investigator alleges differences between flexible and rigid components cause problems. Designed by the Phoenix office of DMJM Design, a unit of AECOM, with St. Louis-based Hastings+Chivetta Architects Inc., the building is likely to end up in court. Bennett & Jimenez Inc., Las Vegas, which has since shut down, was the structural engineer. Phoenix-based Kitchell Contractors was the construction
Featured Product March 2010 One of the latest additions One of the latest additions to the Bobcat M-Series of excavators, the E-42 Compact Excavator is a conventional tail swing unit with an operating weight of 9,246 lbs. It is powered by a 41.8-hp liquid-cooled diesel engine and features redesigned hydraulics with a load-sensing pump and a closed center-valve system for improved control during travel and operation. The standard arm has a maximum reach of 207 in., with a maximum dig depth of 126 in. The E-42 has an auto-idle function, which if activated by the operator, automatically idles the engine
The new $364.9-million hospital is the VA�s largest contract ever awarded. Image: RTKL/JMA As its first new hospital in over 20 years, the VA is pulling out all the stops with a nearly 1-million-sq-ft building in North Las Vegas. Photo: Clark/Hunt JV The seven-story hospital will be skinned with blast-proof laminated glass and Trespa-brand smooth finish insulated metal panels. The ground-level will be skirted with a resilient concrete masonry block. Related Links: A Banner Year for Hospitals The U.S. Dept. of Veteran’s Affairs is betting big on Southern Nevada. The federal agency in charge of soldiers’ health is building its
The Hotel Parq Central in downtown Albuquerque will be open in time for this year�s balloon festival. Photo: Marble Street Studio Originally built in 1926, the Albuquerque Memorial Hospital at Central Avenue and Interstate-25 is being rejuvenated into a 73-room boutique hotel developed by Memorial Ventures LLC. Photo: Marble Street Studio Featuring 1-ft-thick concrete walls, the building’s structural integrity is still in good shape, as is the external stucco. Since the building is on the National Register of Historic Places, the exterior appearance has to remain authentic while the interior is turned into a modern hotel. Photo: Marble Street Studio
CityCenter is Las Vegas� grandest, most extravagant Strip production yet, encompassing 18 million-sq-ft of high design shops and restaurants, hotel and homes. The $8.5 billion, seven-building complex is the equivalent of nine Empire State buildings. It�s also the largest privately financed project in United State history. Construction required a well-coordinated, herculean effort from project contractor Perini Building Co., with Tishman Construction Corp. as executive construction manager and Gensler was executive architect. Slide Show Image courtesy of CityCenter Land LLC. The recently opened $8.5 billion CityCenter development on the Las Vegas Strip is the largest private project in US history. "We
Voters in Bernalillo County, N.M. handily approved $617 million in school construction funding during a special mill levy and general obligation bond election Feb. 2nd. Related Links: UNM Facility Examined for Safety The mill levy’s 68.3% ‘yes’ vote continues existing property taxes through 2015 while $225 million in general obligation bonds received 72.1% approval. “The focus with this money will be on renewal and renovation of our older schools,” says Karen Alarid, AIA, executive director of capital operations and director of facilities design and construction at Albuquerque Public Schools. “The average age of an APS school is about 40 years
Tessera Solar and Stirling Energy Systems unveiled the Maricopa Solar Power Plant, the first commercial project for the SunCatcher concentrating technology. The project’s 60 dishes will provide 1.5 MW of renewable energy to SRP customers in Greater Phoenix. Photo: SRP The Maricopa Solar Power Plant is located in Peoria, next to the Agua Fria Generating Station. Related Links: Developers Begin 60-Acre SkyWay 202 Professional Park Phoenix Police Precinct Underway New Learning Center, Medical Building from T.L. Roof Second Phase of Grand Ave. Starts Grand Canyon West Paving Underway The highly-efficient SES SunCatcher is a 25-kilowatt solar power system which uses
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