July 29, 2014 – Caterpillar’s second-quarter net income rose 4.1 percent, as the company earned $999 million, versus $960 million in last year’s second quarter. However revenue for the Peoria, Ill.-based company dropped 3.2 percent to $14.15 billion from $14.62 billion.The big issue? Mining equipment. That category fell 29 percent from a year ago in the second quarter. Sales to…
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Trust Fund Patch Coming
July 25, 2014 – The Senate is poised to vote on legislation to ensure federal highway funds continue to flow to the states before Congress adjourns for the five-week August recess. The House of Representatives overwhelmingly passed a bill July 15 that transfers $10.8 billion from the general fund into the Highway Trust Fund and extends current highway and transit…
Read MorePatching the Pothole
July 16, 2014 – This is akin to patching potholes rather than replacing a section of highway. The U.S. House of Representatives voted 365 to 55 on July 15 to transfer from the General Fund $10.8 billion into the Highway Trust Fund, extending current highway and transit policy and funding through May 31, 2015. The 10-month patch would be paid for…
Read MoreJoe Vig Retires
Joe Vig has truly been one of the aggregates industry’s great leaders, a fine gentleman and a dedicated industry advocate. Joe has always been one of those people who are a delight to be around. His energy and enthusiasm impact everyone he comes in contact with. I will miss seeing him at industry trade shows, and the annual KPI-JCI Dealer…
Read MoreFixing a Flat
July 7, 2014 – According to NSSGA, the Senate Finance Committee is targeting this week to decide on how to temporarily fix the Highway Trust Fund. The Congressional Budget Office estimated June 27 that the Highway Trust Fund will require a $6.6 billion infusion of cash to continue uninterrupted payouts to the states through the end of the year and…
Read MoreHillhead a Smashing Success
June 29, 2014 – The Hillhead show in Buxton, England, came out of the gates strong. With economic recovery gathering momentum, particularly in the UK, and confidence returning to the mineral products industry, the organizers of Hillhead 2014 reported that total attendance at this year’s event was 17,559. Rock Products Sales Director Sean Carr was there, and reported back that…
Read MoreDOJ Rules Martin Marietta Must Divest
June 27, 2014 – The Department of Justice has spoken. I’m not sure they know what they are talking about, but they HAVE spoken. Martin Marietta Materials must divest an Oklahoma quarry and two Texas rail yards in order to proceed with its proposed $2.7 billion acquisition of Texas Industries, according to the agency. Without the divestiture, the proposed acquisition was…
Read MoreMartin Marietta, DOJ Set to Settle
June 21, 2014 – Martin Marietta Materials Inc. expects to enter into an agreement with the U.S. Department of Justice that will resolve all competition issues with respect to Martin Marietta’s proposed acquisition of Texas Industries Inc. Martin Marietta believes that the agreement will be finalized this week. While Martin Marietta is not in a position to state the terms…
Read MoreVoicing Approval
June 20, 2014 – Our associations are hitting it hard. The Highway Materials Group commended Senators Chris Murphy (D-Conn.) and Robert Corker (R-Tenn.) on their bipartisan proposal to ensure funding of the nation’s surface transportation system into the future by increasing the federal motor fuels tax by 12 cents.
Read MoreYoung Guns Work for the Future
June 15, 2014 – More than 50 “young guns” in the transportation design and construction industry took part in an intensive “boot camp” introduction to the federal legislative and regulatory processes, and then descended on Capitol Hill last week to press their members of Congress to fix the Highway Trust Fund (HTF) and pass a long-term surface transportation bill. They…
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