At the Construction Financial Management Association’s record-turnout annual conference, Chairman J. Brad Robinson said this year’s conference theme, “The Power of One,” was inspired by the “singular, powerful moments” when you invest time in someone else or benefit from someone else’s investment in you.He gave examples, such as changing a tire for strangers on a highway or a high school teacher who makes chemistry fun. Then, he related the stories to CFMA by challenging the 1,300 attendees, in Chicago from June 27 to July 1, “to look for [ways] to be the Power of One agent” for their chapters. “Ask someone
Photo courtesy China Construction America Construction of the Baha Mar resort is approximately 97% complete. The contractor alleges that it has not been paid by the developer since February 2015. Related Links: Seawater-Sourced Cooling to Debut at Bahamas Resort Work on the Caribbean's Largest Resort Gets Started A development company building a $3.5-billion, nearly complete Bahamas resort project has filed for bankruptcy protection while allegedly still owing a subsidiary of China Construction America (CCA) $72 million for its work.With the two parties seemingly readying for a legal battle, on July 7 the prime minister of the Bahamas, Perry Gladstone Christie,
Related Links: Commerce Dept./Census Bureau release with data table AGC Chief Economist Ken Simonson's comments and analysis ABC Chief Economist Anirban Basu's comments and analysis Construction spending edged up 0.8% in May from April’s level but climbed a more robust 8.2% year over year, the Commerce Dept. has reported.The latest monthly figures finished construction projects, which Commerce’s U.S. Census Bureau released on July 1, showed that the value of projects put in place in May totaled an annual rate of $1.036 trillion, adjusted for seasonal variations.Ken Simonson, Associated General Contractors of America chief economist, observed that May's 8.2% year-over-year increase
Related Links: Construction Spending Up in April. Commerce Dept. report (enr.com 6/1/2015) [subscription] New construction rose 3% in May, to an annual, seasonally adjusted rate of $729.7 billion, thanks to a burst of electric power and natural gas projects that broke ground during the month, Dodge Data & Analytics says.Dodge D&A's latest monthly report on construction starts, released on June 19, also showed new construction for the first five months of 2015 soared 25% from the year-earlier period, to $272.5 billion, not adjusted for seasonal variations.The company, which also owns ENR, said that its Dodge Index of construction activity climbed
Related Links: World Bank, Investors Join in New Infrastructure Finance Plan Public-private financing for transportation, energy and water infrastructure projects in emerging economies rose 6% last year, to $107.5 billion, the World Bank has reported. But last year's total is down from 2012's level of $140.4 billion, in constant 2014 dollars.The bank's latest update of its Private Participation in Infrastructure database, released on June 9, shows that, for 2014, Brazil ranked first among 139 "low- and middle-income" countries with $44.2 billion. The country is preparing to host the 2016 Summer Olympics.Brazil's 2014 total jumped 80% from the previous year's level,
Related Links: Summary of update to World Bank public-private infrastructure database Public-private financing for transportation, energy and water infrastructure projects in emerging economies rose 6% last year, to $107.5 billion, the World Bank has reported.But last year's total is down from 2012's level of $140.4 billion, in constant 2014 dollars.The bank’s latest update of its Private Participation in Infrastructure database, released on June 9, shows that, for 2014, Brazil ranked first among 139 “low-and middle-income” countries, with $44.2 billion. The country is preparing to host the 2016 Summer Olympics.Brazil’s 2014 total jumped 80% from the previous year’s level, sparked by
Photo by Nicholas Zeman for ENR Leveraged Greenland Group is building the big Metropolis project in downtown Los Angeles. Related Links: Greenland Group's information on Bloomberg.com Shanghai's Greenland Group has become one of the world's largest property developers, with nearly $6 billion in North American projects proposed or under construction. Major contractors such as San Francisco-based Webcor Builders are now at work on sites developed by Greenland Group and its partners. The projects include the $1.4-billion Metropolis project in Los Angeles and the $5-billion Atlantic Yards project in New York City. On the latter project, Greenland is partners with a
Enlarge _ Related Links: Mr. Xi's Grand Silk Road Plan Leaves the Starting Gate China Inks Silk Road Deals With Brazil, Russia and India The China Construction Industry Association, which represents the country's construction and engineering companies, is touting Xi Jinping's ambitious Silk Road and Maritime Silk Road international infrastructure programs, which the government calls the "One Belt, One Road" initiative.The CCIA replied to ENR's questions through email.ENR: Centuries ago traders established the Silk Road to move Chinese goods to the rest of the world. Please tells us about the new Silk Road.CCIA: The One Belt, One Road program is
Related Links: Commerce Dept./Census Bureau release with data tables ABC Chief Economist Anirban Basu's comments Construction spending totaled slightly more than $1 trillion in April, up 2.2% from March’s level, the Commerce Dept. has reported.The U.S. Census Bureau’s latest monthly report on the value of finished construction projects, released on June 1, also said that April’s total was up 4.8% year over year. April’s residential construction put in place edged up 0.6% from March, but slipped 1.8% year over year.Nonresidential work posted a 3.2% month-to-month gain and climbed 8.8% from April 2014’s rate, said the Census Bureau, which is part
Related Links: Dodge Data & Analytics report on April 2015 construction starts Construction starts rose 10% in April from March levels, thanks in part to two megaprojects that got under way during the month, Dodge Data & Analytics reports.Dodge D&A’s latest monthly look at new-construction volume, released on May 21, showed that April starts climbed to an annual rate of $698.7 billion, seasonally adjusted. But excluding $1-billion-plus projects, April’s volume was down 3% from the previous month, the company noted. (ENR is part of Dodge D&A.)The April results received a major boost from an $8.1-billion Sasol petrochemical plant in Louisiana
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