| December 23, 2008 | News for contractors and the construction industry |
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- States halt infrastructure projects amid credit crisis, funding woes
Budget and credit problems are forcing at least half a dozen states to halt road, bridge and other construction projects. In California, officials have suspended almost $4 billion in public works projects. Leaders hope President-elect Barack Obama's economic-stimulus plan will include funding for infrastructure. More than 40 states have seen revenues fall, creating massive crunches. The New York Times
(12/22)
      
- Construction stalls on several federal building projects
The credit crisis and the high cost of new construction have stalled construction on several buildings that the federal government planned to lease from developers. Buildings that would house the FBI, FAA and Social Security Administration are among the structures now on hold because of financing problems. General Services Administration officials estimate that the backlog of major lease-construction projects now totals more than $5 billion. Federal Times
(12/21)
- Developer plans 330-foot tower in Nevada
GSG Development plans to build a $1 billion high-rise that will include residences, a hotel and an office park in Henderson, Nev. Principal Kenneth Smith said he hopes that the credit market recovers by the time his project is out of the design stage, and he noted that the mixed-use development will have an environmentally friendly design. Las Vegas Sun
(12/22)
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- North Carolina stimulus will provide limited help to contractors
North Carolina contractors are eager to bid on construction projects included in the state's proposed $722 million economic-stimulus measure. However, they also note that competition for contracts will be stiff because so much construction business has evaporated. "When you consider how much has gone away, it's not going to make up the difference," said Jim Ruffin, executive vice president for Landmark Builders of the Triad. "Second, there's going to be a lot of bidders, including national companies. Third, some contractors won't be able to go after it because the work is so specialized." American City Business Journals/Greensboro/Winston-Salem, N.C.
(12/19)
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| | Feeling the Pinch in Today's Difficult Credit Market?
Increasing credit costs can ripple through your business to affect longer-term plans that are essential to growth. Download the CFO Research Services report produced in collaboration with American Express: No Stone Unturned: Strategies for Cash Management in Hard Times to gain insight on how midsize companies are adapting in order to maintain their competitive positions under tough circumstances. | |
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| The Buzz(CORPORATE ANNOUNCEMENTS)
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Interested in learning more about advertising in the AGC SmartBrief? Contact Jim Pataki at (202) 737-5500 x273 or jpataki@smartbrief.com.
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| News From Washington | | |
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- Obama likely to revamp federal energy policy
Federal energy policy is expected to undergo a major shift under President-elect Barack Obama. Most of Obama's picks for key energy posts have been praised by environmentalists. "I don't think there could be a greater contrast, in terms of their experience or their philosophy," said Wesley Warren, director of programs for the Natural Resources Defense Council, of the difference between Obama's choice to oversee energy strategy -- former EPA chief Carol Browner -- and President George W. Bush's energy-policy leader -- Vice President Dick Cheney. Houston Chronicle
(12/20)
| Association News | | |
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Excavation & Trenching Package
The Excavation & Trenching Training Manual & CD-ROM work very nicely in combination with the "In the Trenches: Excavation Safety for Workers" DVD and "Construction Standards for Excavation." Whether you are training to become an Excavation Competent Person or providing job site excavation and trenching training, these products work together to provide a complete experience. To purchase copies, visit www.agc.org/bookstore, keyword "Excavation."
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New safety DVDs now available!
AGC of America has five new safety videos on DVD. Titles include: Electrical Safety for the Construction Worker; Safety During Renovation & Demolition Operations; Personal Protective Equipment; Power and Hand Tool Safety; and Housekeeping on the Jobsite: A Plan for Success. To order any of these or other new products, visit www.agc.org/bookstore, keyword "Safety."
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- Monday, December 15, 2008
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