| November 6, 2009 | News for contractors and the construction industry |
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| Industry Watch |  |  |
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- California gets water legislation
California lawmakers on Wednesday passed legislation that overhauls the state's water system. The bills include an $11.1 billion bond issue, and the rest of the approximately $40 billion of projects would need to be paid for by communities, mostly through user fees. The voters will need to approve the bond issue next November. The New York Times
(11/4)
     
- Subcontractors seek financing for Fontainebleau
A group of Fontainebleau Las Vegas subcontractors who have liens on the project is trying to secure financing necessary to complete the project. "We are in discussions with a number of potential partners, including hotel and gaming operators and financial partners," Tutor Perini CEO Ronald Tutor said. The group hopes to propose several options to the bankruptcy court. Some observers estimate that it may take $1.5 billion to complete the project. Las Vegas Sun
(11/5)
- CityCenter results will shed light on Las Vegas economy
The first opening phase of MGM Mirage's $8.5 billion CityCenter development in Las Vegas will occur in December, executives said. Observers note that the resort's success or failure will shed light on the city's economic future. They note that the financial downturn and sharp decline in consumers' discretionary spending has forced many companies to cancel or postpone resort projects. Engineering News-Record
(11/4)
- Opinion: Ports must keep up with Panama Canal expansion
 The world's largest ports must continue to improve and expand to meet growing transportation demands, writes Joe Reeder. Reeder, a member of the Panama Canal's International Advisory Board, notes that ports that do not expand will not have the ability to serve the larger ships capable of moving through the Panama Canal once expansion is complete. The Miami Herald
(11/6)
- Engineers cite flaws in athletic facility
An athletic complex at Texas A&M University was built with a flawed design that did not meet code and left it unable to withstand winds of 90 miles per hour, according to a report prepared by an engineering firm. The structure was designed by the same company that built the Dallas Cowboys' practice facility that collapsed in May. A series of cables that allowed the facility to meet building code standards were later added to its steel frame. The school is also emptying the facility during severe weather as a precaution. Google/The Associated Press
(11/5)
| Market Update | | |
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- Unemployment tops 10%
About 190,000 jobs were shed in October, more than had been expected -- 62,000 of those jobs had belonged to construction workers. This is the 22nd consecutive month of job losses. "We may be looking at very high levels, barring a policy response, for several years into the future," Dean Baker, a director for the Center for Economic and Policy Research, said. However, the rate of job loss has slowed. The New York Times
(11/6)
, Reuters
(11/6)
- Green floor space will grow 40% in 2009, report says
Floor area certified under the LEED green rating system is estimated to grow by more than 40% in 2009 from year-ago levels, according to a report by LEED expert Rob Watson. He reports that LEED buildings are reducing carbon dioxide emissions by about 2.9 million tons on an annual basis. That figure is expected to grow to 320 million tons annually by 2030. GreenerBuildings
(11/5)
- Owners hope building's green features attract tenants
Two years ago, the owners of the Boland Building in Grand Rapids, Mich., began a green renovation as part of an effort to attract more tenants and boost rents. Today, the building has just one tenant and still has not received LEED certification. At this point, executives say weakness in the commercial real estate market makes it unclear if the building's green status will command a rent premium in the near future. Separately, recent research suggests that focusing on energy efficiency offers the biggest payback in green construction. The Grand Rapids Press (Mich.)/Blog
(11/4)
, Environmental Leader
(10/27)
- Opinion: U.S. must overhaul approach to infrastructure
Highway, bridge and road projects will receive more than $20 billion in stimulus funds, writes Brandon Borgna. He notes, however, that this funding will not adequately address the need to overhaul the nation's aging highway system. To solve the problem, he suggests a national approach that first addresses the nation's worst traffic bottlenecks as well as a system that links infrastructure investment to system performance. BizCentral.org/American Trucking Association Blog
(11/3)
| Product Innovation & Technology | | |
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- Scientists: Desert forest could curb global warming
A group of scientists believes a plan to transform the Australian outback and Sahara Desert into forests could eliminate the threat of global warming. The plan, outlined in a paper published in the Journal of Climatic Change, calls for fields of fast-growing eucalyptus trees to cover the desert. The trees would be watered by seawater treated by coastal desalination plants and would create their own water system and rainfall and draw down more than 8 billion tons of carbon emissions per year. The Guardian (London)
(11/4)
| News From Washington | | |
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- Senate committee brushes off Republican boycott, passes climate bill
Democrats on the Senate's Environment and Public Works Committee voted 11-1 to clear the climate measure, dismissing a boycott from Republican panel members. The move indicates that the U.S. will "do what it takes to advance this issue" ahead of a U.N. summit in Copenhagen, said Sen. Barbara Boxer, D-Calif., the panel's chairwoman. Republicans opposed the action, saying the Environmental Protection Agency should have performed a more extensive economic review of the bill. The Washington Post
(11/6)
, Reuters
(11/5)
| Association News | | |
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AGC State Law Matrix
The AGC State Law Matrix™ is the most comprehensive, definitive and concise publication available, covering all aspects of state laws that may affect your public or private construction project. This essential resource, for use before completing any construction contract in the United States, District of Columbia or Puerto Rico, ensures compliance and enforceability under state law. To find out more about the State Law Matrix or to review a free sample, go to www.agc.org/statelawmatrix.
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ConsensusDOCS gives contractor rights to key project financing info
ConsensusDOCS gives contractors the right to project financing information throughout the life of the project. Other standard contracts restrict the contractor's access to project financing information after work begins, and they include conditions that are subject to interpretation and can lead to expensive and unnecessary disputes. ConsensusDOCS provides a reasonable approach to obtain critical project financing information and are endorsed by national owner groups, including COAA, CURT and NASFA. For free excerpted samples, visit www.ConsensusDOCS.org.
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