Industry Watch

• Port Authority tower construction scheduled
  Manhattan's West Side will soon see a new, 1.3-million-square-foot tower that will stand over the Port Authority Bus Terminal. The Vornado Realty Trust and the Ruben Cos. will pay $500 million in a joint venture for 99-year air rights, with four-year construction to begin in 2009. The project was originally conceived in 1999, but the project was delayed after the Sept. 11, 2001, terror attacks. Commercial Property Executive (11/30)

• U.S. Steel considers $1B investment in Pennsylvania plant
  U.S. Steel says it may invest as much as $1 billion into upgrades for its plant in Clairton, Pa. The improvements would include refurbishing of multiple coke batteries and replacement of some coke ovens that were put into use in the 1950s. American City Business Journals/Pittsburgh (11/30)

• Cargo ship gets repairs after Bay Bridge collision
  The Cosco Busan cargo ship, which ran into the San Francisco Bay Bridge on Nov. 7, is receiving repairs to the 200-foot gash that tore open several tanks, spilling 58,000 gallons of bunker fuel into the Bay. The ship is under a surety hold and cannot set sail until repairs meet the satisfaction of the U.S. Coast Guard. SFGate.com (11/30)

• New tower planned in Atlanta
  The Cumberland Mall area in Atlanta will soon see a new 16-story tower, a project planned by Seven Oaks Co. LLC and GE Asset Management. The tower will be dubbed Riverwood 200 and contain 350,000 square feet of space, at a tentative cost of $100 million. Rent on the property could go as high as $31 per square foot. The project is scheduled for completion by mid-2009. American City Business Journals/Atlanta (11/30)

• Contractors drill 1,000-foot bore in North Carolina
  Lexington Utilities, based in Lexington, N.C., was recently challenged to drill a 1,000-foot bore through 45,000-psi rock as part of a 42-mile expansion of its natural gas pipeline. The expansion is one of the largest in Lexington's history, and contractors have been making progress at about 60 feet per day. Reed/ACP Construction Data (12/10)

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Market Update

• Fewer construction projects on the horizon
  Construction projects appear to be on the decline, as spending dropped 0.8% last month and private nonresidential construction declined 0.5%. The Commerce Department shows a 2% fall in residential construction, revealing a lack of demand for single-family homes. Concurrently, energy prices as well as personal spending are both on the rise, while personal income hasn't seen a significant increase. The Wall Street Journal (tiered subscription model) (12/1)

• Sheet metal, rail transport workers unite
  Sheet metal workers are joining forces with major transport workers to create a union of nearly 234,000 members in the U.S. and Canada. The union becomes effective Jan. 1 under the new name of the International Association of Sheet Metal, Air, Rail and Transportation Workers, part of the AFL-CIO's Building and Construction Trades Department. Engineering News-Record (11/28)

Product Innovation & Technology

• Construction recycling center proposed in S.C.
  Lancaster County, S.C., could become home to a new recycling and resource recovery facility, which will house items such as old wiring, PVC pipe, concrete and other construction materials. The proposed center will be located at an old industrial park if the South Carolina Department of Health and Environmental Control approves the site. Materials sent to the site, which will not include public garbage, will be recycled within one week. The Charlotte Observer (N.C.)/Fort Mill Times (12/2)

• Caltrans puts highway repair job in fast lane
  Caltrans was able to meet the challenges of repairing a section of Highway 99 near Bakersfield, Calif., and performing much of the work at night in order to reopen by 6 a.m. for daytime traffic. The agency completed the job ahead of schedule with the help of rapid strength concrete. Reed/ACP Construction Data (12/3)

Hot Topics

Top five news stories selected by AGC SmartBrief readers in the past week.

• Critic: New York Times skyscraper unlike any other in Manhattan (The Guardian (London))

• Commentary: Will Dubai suffer from skyscraper curse? (Bloomberg1)

• Work on $333M Buffalo casino set to start (American City Business Journals)

• Project manager in Minneapolis bridge brings global perspective (Star Tribune (Minneapolis-St. Paul, Minn.))

• Construction headquarters can produce more energy than it uses (The Star-Ledger (Newark, N.J.))

• Results based on number of times each story was clicked by readers.

News From Washington

• Construction faces rising concerns for 2008
  A 2007 survey shows the construction industry is still facing many concerns going into 2008, including job growth, the cost of construction, changing interest rates and inflation. Of those surveyed, 78% expect stricter underwriting standards for mortgages in 2008, as residential market problems are beginning to affect the commercial sector as well. NYTimes.com (12/2)

Association News

• AGC Audio Conference: Third annual economic forecast
  On Tuesday, Dec. 13, 2-3:30 p.m. ET, AGC offers a glimpse at the "bigger picture" of the economy's direction in 2008. Naturally, what happens in the economy will have a direct impact on what may happen to your company. Find out what factors may impact your bottom line during this annual favorite audio conference. Can the industry keep up the pace in 2008? Will it be dragged down by a slowing economy? What segments and regions are most vulnerable? Join Ken Simonson, Dana Delano and John Cross -- all experts on the economy and construction materials -- as they assess the industry's prospects and take questions from listeners. For more information on the Audio Conference, please visit www.agc.org/EconForecast. For a complete listing of upcoming Audio Conferences and information on previous Audio Conferences, please visit www.agc.org/audioconferences

• AGC offers insight into ethics and professionalism -- on disc
  This DVD emphasizes the importance of ethical conduct by both the individual and the firm. The accompanying handbook takes viewers to the next step by providing sample cases and scenarios by which discussions on company and personal ethics can be conducted. Get your copy today and raise your organization's professionalism tomorrow! Visit www.AGC.org/e-STORE or call 800-AGC-1767 and select item No. 2615D (or VHS item No. 2615).

SmartQuote

To give without any reward, or any notice, has a special quality of its own." --Anne Morrow Lindbergh, writer and aviation pioneer