October marked the fifth consecutive month when construction input prices failed to rise. Inputs to construction industries were down 0.9% for the month but expanded 1% on a year-over-year basis, according to a Nov. 17 producer price index (PPI) release from the U.S. Dept. of Labor. Inputs to nonresidential construction fell 1.1% for the month but are 0.5% higher than at the same time last year. “This deflation in an array of commodities should be viewed positively for the economy as well as for nonresidential construction,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Deflation can be a reflection
The Colorado Dept. of Transportation’s executive director, Don Hunt, announced in early November his intent to leave the agency at the end of the year, as planned after the re-election of Gov. John Hickenlooper. Hunt’s tenure as director included his leadership during the 2013 flood recovery, innovation in transportation funding—which resulted in increased construction and improvement to Colorado roadways—improving maintenance and operations and the upcoming launch of CDOT’s new commuter bus service. He has served as the agency’s executive director for the past four years.“From the beginning, Don communicated that he would not be a two-term executive director. Don has
The Dodge Momentum Index rose in October, climbing to 125.5 (2000=100) for the month, up 7.6% from September’s reading of 116.6, according to Dodge Data & Analytics. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The Momentum Index had declined in each of the previous three months, and the increase in October returns the index to the rising trend seen during the first half of this year.The Momentum Index now stands 18% above last year,
The University of Wyoming marked the grand opening of its Marian H. Rochelle Gateway Center on Oct. 24. The Wyoming Division of Denver-based Haselden Construction delivered the project just 26 months after the first fundraising dollar was acquired. Gateway Center provides a recognizable entrance to the campus. The facility includes an event center that seats 600, student admissions, career services, UW Foundation offices, conference rooms, a “family room” complete with fireplace, and Heritage Hall—a gallery-style museum with interactive timelines and highlighting historic Wyoming residents.During the ribbon cutting, Marian Rochelle’s daughter—former state senator and state representative April Brimmer Kunz—said the building
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) showed that overall new business volume for September was $9.4 billion, up 21% from new business volume in September 2013. Month over month, new business volume was up 31% from August. Year to date, cumulative new business volume increased 8% compared to 2013. The index reports economic activity from 25 companies representing a cross section of the $827-billion equipment finance sector.Receivables over 30 days decreased from the previous month to 1.0% and were up slightly from .09% in the same period in 2013. Charge-offs were unchanged for the sixth
The Conference Board Consumer Confidence Index, which had decreased in September, rebounded in October. The index now stands at 94.5 (1985=100), up from 89.0 in September. The Present Situation Index edged up from 93.0 to 93.7, while the Expectations Index increased sharply to 95.0 from 86.4 in September. Consumers’ appraisal of current conditions was moderately more favorable in October than in September. Their view of business conditions was mixed. While the proportion saying conditions are “good” inched up from 24.2% to 24.5%, those claiming business conditions are “bad” also increased slightly, from 21.2% to 21.7%.Consumers’ assessment of the job market
Nonresidential construction spending slipped 1% in September but has still managed to expand 4.2% on a year-over-year basis, according to the Nov. 1 release from the U.S. Census Bureau. Spending for the month totaled $596.1 billion on a seasonally adjusted, annualized basis while the government slightly revised the August spending figure from $603.7 billion to $601.9 billion. “September’s drop in nonresidential construction spending is disappointing, given the growing momentum in the broader economy and the generally positive signals being sent by industry-specific leading economic indicators,” said Associated Builders and Contractors Chief Economist Anirban Basu.“Based on a combination of these leading
Denny Pehrson admits that he has the instincts of a teacher as much as a builder. Pehrson, 75, honed his teaching skills working as a foreman, superintendent and senior superintendent during 57 years in the industry—a career in which he mentored hundreds of young constructors. He officially retired five years ago from Adolfson & Peterson Construction, Aurora, Colo., but Pehrson continues to visit A&P jobsites to offer suggestions, safety tips and "an occasional kick in the pants" to younger colleagues. In July he celebrated 49 years with the company. Photo courtesy of Adolfson and Peterson Construction Retired senior superintendent Denny
A team aiming for LEED-Gold certification in the design and construction of an Energy Innovation Laboratory for the U.S. Dept. of Energy in Idaho Falls overachieved and ended up earning Platinum instead.
Some attorneys like the dynamics of a trial, the verbal combat of litigation. While longtime construction attorney Robert F. Babcock certainly doesn't shy away from confrontation, he says he prefers to find out-of-court answers that work for everyone. Photo courtesy of Babcock Scott & Babcock Salt Lake City construction attorney Robert F. Babcock has built a reputation for finding workable solutions to disputes without resorting to expensive litigation. Related Links: Wyoming Lien Laws Utah's Liquidated Damages Clauses Babcock, 61, a partner and co-founder of Salt Lake City law firm Babcock Scott & Babcock, has been working for more than 35
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