Construction News http://www.topix.com/business/construction http://www.topix.com/rss/business/construction.xml Construction news continually updated from thousands of sources around the net. en-us Copyright 2008, Topix Topix http://www.topix.com/ http://www.topix.com/pics/topix_homepage_logo2.png Moody's may downgrade Toll Brothers ratings http://www.topix.net/business/construction/2008/03/moodys-may-downgrade-toll-brothers-ratings?fromrss=1 Moody's Investors Service said Thursday it may downgrade the ratings of Toll Brothers Inc. via Market Watch

]]> Market Watch Fri, 28 Mar 2008 09:03:18 GMT 0803289CHNI1 0 Ratings lowered for homebuilders http://www.topix.net/business/construction/2008/03/ratings-lowered-for-homebuilders?fromrss=1 "The downgrades reflect Hovnanian's ongoing losses, high debt leverage, elevated inventory levels, and cash flow generation that only recently turned positive"

Red Bank-based Hovnanian Enterprises Inc. and Atlanta-based Beazer Homes USA Inc. via Asbury Park Press

]]> Asbury Park Press Fri, 28 Mar 2008 04:25:45 GMT 0803277OSFTI 0 Housing factories plan May closing, layoffs http://www.topix.net/business/construction/2008/03/housing-factories-plan-may-closing-layoffs?fromrss=1 About 250 northwest Indiana workers will lose their jobs in May when a Dutch Housing factory in LaGrange closes and a Redman Homes plant trims half its staff. via WOOD-TV Grand Rapids

]]> WOOD-TV Grand Rapids Fri, 28 Mar 2008 00:19:25 GMT 080327885A37 0 Chicago to pay fired contractor $11 million http://www.topix.net/business/construction/2008/03/chicago-to-pay-fired-contractor-11-million?fromrss=1 The city of Chicago has agreed to pay a general contractor it fired during the construction of a park $11 million under a settlement reached by lawyers for both sides.

The city hired Harston/Schwendener as general contractor for the Millennium Park project. In 2000, officials fired the joint venture involving Westmont-based Paul H. Schwendener Inciroirated and Chicago-based G.M. Harston Construction amid mounting concerns about the project's cost and delays.

According to court records, Harston/Schwendener alleged the city owed it tens of millions of dollars in disputed fees. Read more

]]> The Associated Press Thu, 27 Mar 2008 19:51:39 GMT 080327AD7S2G 0 Lennar Swings to 1Q Loss, Demand Down http://www.topix.net/business/construction/2008/03/lennar-swings-to-1q-loss-demand-down?fromrss=1 "While sales are occurring and clearing prices are being reached, the pace of overall housing inventory growth is exceeding absorption at the current time."

Lennar Corp., one of the nation's largest homebuilders, said Thursday it swung to a loss in the first quarter as it absorbed charges to write down asset values and costs, while new home sales and prices sank amid the stumbling real estate market.

The Miami-based company reported a loss of $88.2 million, or 56 cents per share, in the three months ended Feb. 29 compared with profit of $68.6 million, or 43 cents per share, in the year ago quarter.

This year's results include a 38 cent-per-share charge related to valuation adjustments and write-offs of option deposits and pre-acquisition costs. After those adjustments, Lennar's loss was 18 cents per share. Read more

]]> The Associated Press Thu, 27 Mar 2008 15:38:57 GMT 0803270A3ND6 0 Spokeswoman: Musgrove Had 'Nothing To Do' With Beef Pant Contracts http://www.topix.net/business/construction/2008/03/spokeswoman-musgrove-had-nothing-to-do-with-beef-pant-contracts?fromrss=1 "Ronnie Musgrove had nothing to do with the awarding of any of the contracts related to the beef processing plant and at no time did anyone try to influence him regarding the awarding of such contracts."

Ronnie Musgrove's U.S. Senate campaign said it would be unfair for people to cast doubts on the former governor because of a new round of federal indictments over a failed Mississippi beef plant. via WAPT

]]> WAPT Thu, 27 Mar 2008 11:09:40 GMT 080327UR8CRR 0 Buffett Shows Schwarzman Berkshire's Free Money Beats Blackstone LBO Model http://www.topix.net/business/construction/2008/03/buffett-shows-schwarzman-berkshires-free-money-beats-blackstone-lbo-model?fromrss=1 Credit-market gridlock has trapped Stephen Schwarzman , who relies on lenders to fund acquisitions, while leaving Warren Buffett free to pursue the debt-free deals that have helped make him the world's richest ... via Bloomberg

]]> Bloomberg Thu, 27 Mar 2008 06:43:35 GMT 08032644TPAG 0 Moody's Downgrades Hovnanian, Beazer Homes http://www.topix.net/business/construction/2008/03/moodys-downgrades-hovnanian-beazer-homes?fromrss=1 "The downgrades reflect Hovnanian's ongoing losses, high debt leverage, elevated inventory levels, and cash flow generation that only recently turned positive."

The housing sector wasn't just hit with poor new home sales data this morning. Moody's also smacked a pair of builders with downgrades. via SchaeffersResearch.com Daily Market Blog

]]> SchaeffersResearch.com Daily Market Blog Thu, 27 Mar 2008 02:33:44 GMT 080326BFII7C 2 Thunderbird looking for $5 million by June 1 http://www.topix.net/business/construction/2008/03/thunderbird-looking-for-5-million-by-june-1?fromrss=1 "It is a short deadline, but I'm confident we'll make it. Pulte wanted us to have a sense of urgency with this money. Forgiving the debt is a great gift from Pulte and now we have to raise this money"

The Thunderbird Lodge Preservation Society needs to raise $5 million before June 1 in order to ensure a large gift given to the historic property to keep it open. via Tahoe Daily Tribune

]]> Tahoe Daily Tribune Wed, 26 Mar 2008 22:16:53 GMT 08032615HGQ0 0 Elizabeth director to complete Minghella film http://www.topix.net/business/construction/2008/03/elizabeth-director-to-complete-minghella-film?fromrss=1 "I will direct the film now - with Anthony in my heart and in presence of his soul."

The director who brought Elizabethan England to the big screen will carry on the legacy of a modern British institution. via Australian Broadcasting Corporation

]]> Australian Broadcasting Corporation Wed, 26 Mar 2008 17:50:39 GMT 0803261OHJ4D 0 Caterpillar CEO says U.S. probably in recession http://www.topix.net/business/construction/2008/03/caterpillar-ceo-says-u-s-probably-in-recession?fromrss=1 The chief executive of Caterpillar Inc , the world's largest maker of earthmoving equipment, said the United States economy is probably in a recession but would likely recover from late this year. via The Boston Globe

]]> The Boston Globe Wed, 26 Mar 2008 13:34:51 GMT 080326S6V0J4 0 Hawaii Company Gets $24.6M Navy Contract http://www.topix.net/business/construction/2008/03/hawaii-company-gets-24-6m-navy-contract?fromrss=1 An affiliate of Hawaii-based Dick Pacific Construction Co. has been awarded a $24.6 million contract by the U.S. Department of Defense. via KITV

]]> KITV Wed, 26 Mar 2008 09:32:29 GMT 080326MLOB6G 0 Mitsubishi Electric plans major solar cell investment http://www.topix.net/business/construction/2008/03/mitsubishi-electric-plans-major-solar-cell-investment?fromrss=1 The roof of a house in Dardesheim, eastern Germany, is covered with solar cells. via PhysOrg Weblog

]]> PhysOrg Weblog Sun, 23 Mar 2008 23:06:50 GMT 080323I6IQKR 0 4-Year-Old Pix Show Bends on Fallen Span http://www.topix.net/business/construction/2008/03/4-year-old-pix-show-bends-on-fallen-span?fromrss=1 "URS and the state have both got a lot of explaining to do as far as why (the bending) was not observed, and if it was observed, why that was not immediately investigated"

Old photos of the Interstate 35W bridge show two steel connecting plates were visibly bent as early as 2003 - four years before the span collapsed into the Mississippi River, killing 13 people. via Telegram & Gazette

]]> Telegram & Gazette Sun, 23 Mar 2008 18:42:00 GMT 080323SSK4JC 0 Gates Foundation Selling Half its Berkshire Shares http://www.topix.net/business/construction/2008/03/gates-foundation-selling-half-its-berkshire-shares?fromrss=1 The Gates Foundation says it will sell 550,000 Class B shares of Berkshire Hathaway, which is run by billionaire investor Warren Buffett, over the next three years beginning April 1. Those shares are now worth ... via Bink.nu

]]> Bink.nu Sun, 23 Mar 2008 14:33:11 GMT 080323HDAOV1 0 'Hillbilly' stereotype can be a badge of pride http://www.topix.net/business/construction/2008/03/hillbilly-stereotype-can-be-a-badge-of-pride?fromrss=1 "There's a confirming acceptance of that image"

When a casting company recently looked to West Virginia hollows for extras to play inbred degenerates, state leaders were loud and clear: go elsewhere for your negative stereotypes. via HendersonvilleNews.com

]]> HendersonvilleNews.com Sun, 23 Mar 2008 10:26:19 GMT 080323GCBMO0 0 Construction Project Management Software From Meridian Named as Constructech Top Products http://www.topix.net/business/construction/2008/03/construction-project-management-software-from-meridian-named-as-constructech-top-products?fromrss=1 "As these builders and contractors look to improve their business practices, the solution providers must strive to meet the demand."

Meridian Systems, a software solutions leader for improving capital program and construction project performance, announced today that both its Prolog software and Proliance software, have been named Top ... via Imaging Magazine

]]> Imaging Magazine Sun, 23 Mar 2008 06:22:10 GMT 080322VLEF77 0 Fluor Corp., GE help lower office vacancy rates in Greenville http://www.topix.net/business/construction/2008/03/fluor-corp-ge-help-lower-office-vacancy-rates-in-greenville?fromrss=1 "Frankly, if it hadn't been for Fluor and GE, we'd still be there"

Greenville is likely to see some new office space over the next two years now that expansions by Fluor Corp. via Tribune-Times

]]> Tribune-Times Sun, 23 Mar 2008 02:14:29 GMT 080322NONIUO 0 Shaw gets Navy contract for base cleanups http://www.topix.net/business/construction/2008/03/shaw-gets-navy-contract-for-base-cleanups?fromrss=1 The Shaw Group says its environmental division is 1 of 4 companies awarded contracts to perform environmental remediation work for the U.S. Navy. via KLFY-TV Lafayette

]]> KLFY-TV Lafayette Sat, 22 Mar 2008 21:53:26 GMT 0803226FGET6 0 Dillard's Restates Earnings Due to 'Error' in CDI Accounting http://www.topix.net/business/construction/2008/03/dillards-restates-earnings-due-to-error-in-cdi-accounting?fromrss=1 A Dillard's store in Virginia. Dillard on Thursday restated past earnings, citing an "error" in accounting at CDI Contractors, the construction firm it partly owns. via ArkansasBusiness.com

]]> ArkansasBusiness.com Sat, 22 Mar 2008 17:30:50 GMT 080322CENTB6 0