The Equipment Leasing & Finance Foundation’s March 2015 Monthly Confidence Index revealed that confidence in the equipment finance market is at 72.1, the highest level in four years, and an increase from the February index of 66.3. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $903-billion equipment finance sector.Other March 2015 survey results include:• 50% of executives who responded said they believe business conditions will improve over the next four months, up from 30.3% in February. 50% of respondents believe
At a seasonally adjusted annual rate of $724.3 billion, new construction starts in February advanced 16% compared to the previous month, according to Dodge Data & Analytics. Much of the lift came from three massive projects valued each in excess of $1 billion that were included as February construction starts. The nonbuilding construction sector was boosted by an $8.4-billion liquefied natural gas export terminal in Louisiana and a $1.2-billion solar power facility in California, while nonresidential building registered a sharp gain partly as the result of a $3.0-billion petrochemical plant in Texas. Residential building also strengthened in February, as growth
After its first negative score in 10 months, the Architecture Billings Index showed a nominal increase in design activity in February and has been positive for 10 out of the past 12 months. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending.The American Institute of Architects reported the February ABI score was 50.4, up slightly from a mark of 49.9 in January. This score reflects a minor increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index
At the close of its March 18 meeting, the Federal Reserve Board issued a statement that modestly adjusted monetary policy regarding future interest rate changes. Although the change was slight, it is one that could ultimately impact U.S. construction activity. In its newest statement, the Fed removed language that said it will be “patient” about an upcoming decision to raise interest rates. Removing this language is generally believed to open the door for the Fed to raise rates sometime later this year—possibly as early as June.Ultimately, the Fed’s timing on raising rates will heavily depend on its confidence in the
Having a debt resulting from the violation of the Colorado’s Mechanic’s Lien Trust Fund Statute, commonly known as the Construction Trust Fund Statute, declared non-dischargeable in bankruptcy may be more difficult due to a 2013 U.S. Supreme Court ruling. The Construction Trust Fund Statute provides that “all funds disbursed to any contractor or subcontractor under any building, construction or remodeling contract or on any construction project shall be held in trust for the payment of the subcontractors, laborer or material suppliers, or laborers who have furnished laborers, materials, services, or labor, who have a lien, or may have a lien,
The Post Falls School District in Post Falls, Idaho, passed a bond on March 10 and has awarded a design contract to Architects West Inc. of Coeur d'Alene. The district’s $19.5-million bond will fund five school projects. Rendering by Architects West Rendering of the new 47,300-sq-ft elementary school in Post Falls, Idaho. River City Middle School will add 18,900 sq ft to expand the kitchen and build a second floor for 12 classrooms.The contract also includes a new 47,300-sq-ft elementary school, auditorium and auxiliary gym additions at Post Falls High School and an addition for two classrooms at West Ridge
Kiewit’s Denver Union Station Transit Improvements project is officially one of the country’s most significant construction projects of 2014, according to the Associated General Contractors of America, which honored it with a first-place Alliant Build America Award as well as a Merit Award for its partnering efforts.
Wilson & Company Inc. of Denver recently earned a National Recognition Award for exemplary engineering achievement on the replacement of the Pecos Street Bridge over Interstate 70 in Denver in the American Council of Engineering Cos.’ 49th annual Engineering Excellence Awards. Photo courtesy of CDOT It took only one weekend closure of I-70 to replace the heavily used Pecos Street Bridge. It took only one weekend closure of I-70 to replace the heavily used Pecos Street Bridge, due in part to Colorado’s first application of accelerated bridge construction. The ABC method saved money and prevented as much as a year
POWER Engineers hosted its 25th annual Power Delivery Design Conference in Sun Valley, Idaho, on Feb, 25 and 26,. In a milestone year for the invitation-only event, it featured near-record attendance, including design engineers from 35 utilities as well as 44 speakers who came from as far as Finland to offer training and presentations. PDDC features technical and general sessions on overhead and underground lines, substations, and electrical systems studies. This year’s conference focused on a mix of technical topics related to design and maintenance of power delivery systems, as well as timely issues like FERC Order 1000.This year’s keynote
A May-December romance is drawing cheers from Salt Lake City residents. Salt Lake City's historic Capitol Theatre celebrated its centennial in 2014 with some cosmetic touch-ups, but then also emerged with a new companion next door: the Jesse Eccles Quinney Ballet Centre. The newcomer is infusing energy into downtown and breathing life into the historic theater, though the structural balance of pairing the old and new "performers" had engineers keeping a close eye on the choreography. Image courtesy of HKS Inc. - Jack E. Madsen III The ballet center provides Utah's Ballet West with larger rehearsal space and a headquarters
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