January 28, 2010 - 3:00p.m. ET Gain insight into the future of construction as expert economists provide an in-depth look at residential and nonresidential construction activity including the institutional, industrial and heavy engineering sectors. Tune in for the first webcast in the 2010 Market Insights series, Economic Recovery: Under Construction as Jim Haughey, Ken Simonson and Kermit Baker discuss:What to Watch in 2010 - key market indicators to help guide you through the year.Construction Hotspots - segments and geographic areas with the most promising signs of recovery.Construction Employment - when will confidence return and hiring begin?Analysis - why is the recovery in construction lagging behind?Click here to register!
Early-bird registration for the Associated General Contractors of America's 91st Annual Convention & Pavilion has been extended to January 31, 2010. Save $200 on both Platinum and Standard registrations. Take advantage of reduced registration and hotel fees to attend one of the few industry events that will provide you with immediate actionable information and education to improve your business and meet the challenges facing our industry. Learn more about the upcoming convention or register to attend at http://convention.agc.org.
The past year has been full of challenges and opportunities for the construction industry. Each day, AGC of America has been working hard to represent Building Contractors. Whether through the AGC Building Division, advocacy, safety and health, environment, labor and workforce, education and training or contract documents...AGC is focused on protecting your interests, helping your business, and improving your industry.Please click here to review a summary of some of the major AGC of America activities of the past year on behalf of Building Contractors. For more information, please contact Mike Stark, Senior Director, Building Division at starkm@agc.org.
Conflicting data, media reports and politicians' assertions have spread a great deal of confusion about the stimulus legislation's impact, or lack of it, on job creation in construction. The reality is that the American Recovery and Reinvestment Act (ARRA) - the "stimulus bill" - has enabled contractors to hire some workers and keep paying others who would have been laid off. But ARRA's reporting requirements, which were supposed to add transparency, have actually added to the confusion.
The first session of the 111th Congress came to end on December 24, 2009 with a final vote on the Senate's comprehensive health care proposal and an extension of the federal debt limit up to $12.394 trillion (which will get the country through mid-February). The U.S. House returned on January 12 and the U.S. Senate on January 19, and they are expected to work towards finalizing the health care package and send it to the president for his signature.The first session saw enactment of the stimulus, and a few temporary extensions of the highway program. The House passed climate change and introduced card check legislation. The 1st session ended with a sometimes bitter and partisan health care debate.This year is expected to be an even busier year in Congress as they race to complete action before the November mid-term elections. To read the major issues AGC has identified that are expected to impact the construction industry in 2010, please click here.
On December 23, AGC submitted comments on an EPA proposed "tailoring rule" that would change the thresholds specific to greenhouse gas emissions as they would apply to two stationary source permitting programs under the Clean Air Act: (1) new construction and major modification permits and (2) operating permits.EPA proposed this tailoring rule in anticipation of the regulation of greenhouse gases from stationary sources under the Clean Air Act, which is triggered once the Agency begins regulating mobile sources under the Act . EPA is expected to do so in 2010 when it finalizes new standards for motor vehicles.To read more on the proposed Prevention of Significant Deterioration/Title V under the Clean Air Act for Greenhouse Gas Tailoring Rule, abd AGC's action, please read the complete article here.
The Specialty Contractor's Subforum of the AGC BIMForum has created the MEP Spatial Coordination Team Requirements for Building Information Modeling. This document provides guidance to companies and individuals involved in 3D MEP (Mechanical, Electrical, Plumbing, and Fire Protection) spatial coordination. Its aim is to help the MEP spatial coordination process using 3D and BIM technology and to assist in developing team structures, definition of roles and responsibilities, recommendations for technical and IT considerations, social structure, and accountability. The document can be accessed here: MEP Spatial Coordination Requirements for BIM.
Developers are still facing uncertainty heading into 2010, as some expect the commercial market to sink even lower, reported Engineering News-Record. Despite some firms that are weathering the downturn and have a few projects underway, many believe that the worst is yet to come. While some can take advantage of low-priced properties, many firms must cancel projects and continue to layoff employees.Access the full article Firms Bracing as Building Market Searches for the Bottom here (ENR subscription required).
Several media outlets recently reported that two large commercial mortgage-backed security (CMBS) deals could signal a break in the market. A $400 million deal from Developers Diversified Realty Corp., is the first using the Federal Reserve's Term Asset-Backed Securites Loan Facility (TALF), and is the first issuance of CMBS in 2009.Following this, Bank of America announced the sale of a $460 security without federal assistance. Overall, TALF has received almost $1.5 billion in loan requests for both new and existing CMBS, and the success of these two deals could signal a significant ease in this market, according to the outlets listed below.Read more about these recent developments from The Wall Street Journal, NASDAQ, and Reuters.
A December 1 Bloomberg article projects sales of Build America Bonds to rise to 40 percent of the 2009 monthly average of $6.56 billion. This would mean increased yearly total sales of $110 billion in 2010. Build America Bonds, which allow state and local governments to receive 35 percent of their interest from the U.S. Treasury, are a more cost effective way to seek lower total borrowing costs.To read the entire article, please click here.