Most Clicked AGC SmartBrief Stories
1. Column: BIM will transform construction
AGC SmartBrief | Nov 17, 2009
Building Information Modeling will transform the construction industry and disrupt it at the same time, writes Korky Koroluk. He notes that it will take some contractors time to adapt. "BIM is disruptive," he writes. "But the advantages it brings to the job site are too important to be ignored, even at a time when many are spooked by an uncertain economy." Daily Commercial News (11/16)
2. Pennsylvania destroys dangerous bridge
AGC SmartBrief | Nov 17, 2009
Pennsylvania this week destroyed one of its most dangerous bridges. The state used 12 pounds of explosives to implode the Point Marion Bridge, which connected Fayette and Greene counties. A replacement bridge opened this week. Pittsburgh Post-Gazette (11/16) ClipSyndicate (11/16) Google (11/16)
3. Deutsche Bank moves forward with ailing resort project
AGC SmartBrief | Nov 16, 2009
The Cosmopolitan Resort & Casino in Las Vegas is an "impending disaster," according to casino magnate Stephen Wynn. The project, owned by Deutsche Bank and situated next door to Wynn's Bellagio, is two years behind schedule and $2 billion over budget. After construction workers hit an aquifer, the project required 24-hour pumps and containment walls. Bloomberg (11/16)
4. Citigroup must fund Destiny project, court rules
AGC SmartBrief | Nov 18, 2009
Citigroup must continue to fund a $155 million construction loan on the Destiny USA Holdings project, says a ruling by the New York State Supreme Court Appellate Division. However, the court also ruled that Destiny must post a $15 million bond before the bank must fund the remainder of the project. The appellate court's ruling affirmed a decision by a lower court. Observers say the decision may prompt banks to reconsider how they structure construction loan agreements. Wall Street Journal, The (11/18)
5. Auction offers construction equipment at bargain prices
AGC SmartBrief | Nov 16, 2009
The sharp decline in the construction market in Las Vegas has led to an oversupply of construction equipment. Many pieces were recently auctioned off by Ritchie Bros. Auctioneers at deeply discounted prices. A scraper, for example, was sold for $75,000, down from an estimated price of $200,000 a few years ago. Las Vegas Sun (11/15)
6. Survey predicts more layoffs in road, transit construction
AGC SmartBrief | Nov 16, 2009
A recent survey found that the economic-stimulus package will not prevent sweeping layoffs in road and transit construction. Economic conditions will force 44% of contractors to lay off more employees, according to the Transportation Construction Coalition, of which AGC is a member. "It is impossible to overstate just how difficult current conditions are or how dire the outlook for next year is," AGC chief economist Ken Simonson said. Meanwhile, an analysis found that some recipients of stimulus funds overstated the number of jobs created. Daily Commercial News (11/16) Denver Daily News (11/16) Pittsburgh Post-Gazette (11/14) Google (11/15)
7. Construction of Panama Canal locks to begin in January
AGC SmartBrief | Nov 16, 2009
Construction on a new set of locks for the Panama Canal will begin in January, according to GUPC, the consortium behind the project. GUPC, led by Spanish company Sacyr Vallehermoso, submitted the winning bid at $3.1 billion. The Panama Canal, originally built in 1904, is being widened to accommodate today's larger ships. Latin American Herald Tribune (Venezuela) (11/16)
8. Poll: Do you think your business next year will be laying off workers, hiring them or remaining steady?
AGC SmartBrief | Nov 17, 2009
Read the AGC SmartBrief Year-End Report, which will be published on Dec. 15, to find out how your peers are responding.
9. Bridge eyebars raise serious safety questions, experts say
AGC SmartBrief | Nov 17, 2009
Eyebars are in place in bridges all over California, despite their inherent structural flaws, engineers say. A cracked eyebar recently led to a serious accident on the San Francisco Bay Bridge. Under federal law, bridges designed with eyebars must be inspected every two years. However, some experts believe regulators should reconsider inspection intervals. KGO-TV (San Francisco) (11/16)
10. URS anticipates influx of rail projects from stimulus
AGC SmartBrief | Nov 16, 2009
Engineering company URS is hiring engineers to meet projected demand for stimulus-funded rail projects. The company estimates 2010 will see $10 billion in federal-stimulus projects that URS could manage, compared with $2 billion for 2009. URS, based in San Francisco, has already secured a contract from Amtrak to improve its Northeast corridor. Reuters (11/13)
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