Caterpillar Sales, Revenues Rise in First Quarter

Caterpillar Inc. announced first-quarter 2017 sales and revenues of $9.8 billion, compared with $9.5 billion in the first quarter of 2016. First-quarter 2017 profit per share was $0.32, compared with $0.46 per share in the first quarter of 2016. Excluding restructuring costs, first-quarter 2017 profit per share was $1.28, double first-quarter 2016 profit per share excluding restructuring costs of $0.64 per share.

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Rogers Group Buys a Prison

Rogers Group Inc. has paid the state of Tennessee $12.1 million for a 119-acre vacant former prison in West Nashville, according to a report in The Tennessean.

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New Home Starts Dip in March; Higher for Year

Following an elevated February reading, nationwide housing starts fell 6.8 percent in March to a seasonally adjusted annual rate of 1.22 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Still, new housing production in the first quarter of this year is running 8.1 percent above the pace in 2016.

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Tennessee Road Conditions Cost Motorists Billions

Roads and bridges that are deteriorated, congested or lack some desirable safety features cost Tennessee motorists a total of $6 billion statewide annually – as much as $2.019 per driver in some areas – due to higher vehicle operating costs, traffic crashes and congestion-related delays. Increased investment in transportation improvements at the local and state levels could relieve traffic congestion, improve road, bridge and transit conditions, boost safety, and support long-term economic growth in Tennessee, according to a new report released by TRIP, a Washington, D.C.-based national transportation organization.

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LafargeHolcim CEO Resigns

Eric Olsen, CEO of LafargeHolcim, has resigned effective July 15, two years after taking up the CEO role and assuming responsibility for successfully implementing the merger of Lafarge and Holcim. His resignation is in response to the controversy regarding payments the company made to armed groups in Syria to ensure staff safety.

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