1 month ago
LOCHIEL, Ariz. — For more than two months, activists sat high up in the branches of a giant cottonwood tree here on the border with Mexico in an effort to block federal contractors from knocking it down to make way for President Donald Trump’s $46.5 billion border wall expansion.
But that standoff came to an end Monday when demonstrators say more than 50 Customs and Border Protection agents raided the activist camp and an excavator knocked down what they called a “grandmother” tree, estimated to be 150 to 250 years old.
Footage taken by protesters shows the massive tree crashing down as border agents look on, and the activists who worked to protect it wail.
“We have been raided, **** aulted, battered, bruised, bleeding by the Border Patrol agents,” said Kate Scott, an activist who kicked off the group’s tree sit, in a call following Monday’s raid. As CBP cleared the area, about 10 people were arrested, the group of activists estimates, and another 10 received citations, including for “violation of a closure order” for being in the border-wall zone.
At least one activist showed images of scrapes and bandages on a Monday video call.
#border #tree
But that standoff came to an end Monday when demonstrators say more than 50 Customs and Border Protection agents raided the activist camp and an excavator knocked down what they called a “grandmother” tree, estimated to be 150 to 250 years old.
Footage taken by protesters shows the massive tree crashing down as border agents look on, and the activists who worked to protect it wail.
“We have been raided, **** aulted, battered, bruised, bleeding by the Border Patrol agents,” said Kate Scott, an activist who kicked off the group’s tree sit, in a call following Monday’s raid. As CBP cleared the area, about 10 people were arrested, the group of activists estimates, and another 10 received citations, including for “violation of a closure order” for being in the border-wall zone.
At least one activist showed images of scrapes and bandages on a Monday video call.
#border #tree
1 month ago
An ancient ground carving that was severely damaged by the administration’s border wall construction was created before Stonehenge and Egypt’s oldest pyramid, according to recently publicized research.
The Las Playas Intaglio, a giant fish carved into the Sonoran Desert in Arizona, is now considered the oldest example in the Americas of a geoglyphic, the ancient art form that is carved into or drawn on the ground.
In April, contractors hired by the Trump administration to make way for a second wall along the Arizona-Mexico border “scraped” a 50-foot swath through the ancient carving, according to the Center for Biological Diversity, which documented the damage.
The intaglio on the ground of the ancestral homeland of the Tohono O’odham and other Indigenous tribes is estimated to be about 2,000 years older than Egypt’s first pyramid and to have been created about 1,500 years before the first construction of Stonehenge and 4,000 years before Peru’s Nazca Lines, researchers have found.
The formerly 272-foot carving had originally been thought to be about 1,000 years old. But the latest research dates the art’s creation to at least 6,500 years ago, and possibly as much as 7,500 years ago.
#years #ground #stonehenge #border
The Las Playas Intaglio, a giant fish carved into the Sonoran Desert in Arizona, is now considered the oldest example in the Americas of a geoglyphic, the ancient art form that is carved into or drawn on the ground.
In April, contractors hired by the Trump administration to make way for a second wall along the Arizona-Mexico border “scraped” a 50-foot swath through the ancient carving, according to the Center for Biological Diversity, which documented the damage.
The intaglio on the ground of the ancestral homeland of the Tohono O’odham and other Indigenous tribes is estimated to be about 2,000 years older than Egypt’s first pyramid and to have been created about 1,500 years before the first construction of Stonehenge and 4,000 years before Peru’s Nazca Lines, researchers have found.
The formerly 272-foot carving had originally been thought to be about 1,000 years old. But the latest research dates the art’s creation to at least 6,500 years ago, and possibly as much as 7,500 years ago.
#years #ground #stonehenge #border
2 months ago
On September 14, NextEra Energy, Inc. (NYSE:NEE) and Dominion Energy, Inc. (NYSE:D) announced a "transformational" Virginia benefits package to address concerns regarding their proposed $66.8 billion merger. The Virginia supplier program, worth up to $1 billion annually for five years, will direct spending toward contractors, suppliers, and service providers in the state.
Additionally, the companies also proposed doubling residential bill credits to four years, protecting retail customers from grid costs tied to Northern Virginia's rapidly expanding AI data centers, and committing $100 million toward directly supporting workforce development in the Commonwealth. NextEra also stated that it plans to add 600 new energy jobs in Virginia, while expecting suppliers to create another 400 positions.
The updated package comes after the proposed merger attracted a great deal of political scrutiny due to the impact it can have on everyday consumers. Virginia Governor Abigail Spanberger also stated last month that she would formally intervene in the regulatory review to press for commitments on electric bill affordability, job protections, and clean-energy investments.
John Ketchum, Chairman, President, and CEO of NextEra Energy, commented:
"This is a Virginia-first package, and it starts with customers. We are proposing to double residential bill relief from two years to four years, along with expanded low-income financial ******* istance and long-term affordability benefits. We are also reaffirming our support for the State Corporation Commission, Governor and General ******* embly's efforts to protect residential and small business customers from costs ******* ociated with serving data centers. Just as important, this package would help Virginia build more of the clean energy and infrastructure it needs faster, so the Commonwealth can reduce its reliance on expensive imported power. And it would do that while positioning Virginia as a major energy leader, bringing NextEra Energy jobs, good-paying supplier jobs, workforce investment, economic development and national-scale energy technology and innovation to Virginia. This is the kind of customer-focused, job-creating package this combination makes possible."
#energy #years #Jobs
Additionally, the companies also proposed doubling residential bill credits to four years, protecting retail customers from grid costs tied to Northern Virginia's rapidly expanding AI data centers, and committing $100 million toward directly supporting workforce development in the Commonwealth. NextEra also stated that it plans to add 600 new energy jobs in Virginia, while expecting suppliers to create another 400 positions.
The updated package comes after the proposed merger attracted a great deal of political scrutiny due to the impact it can have on everyday consumers. Virginia Governor Abigail Spanberger also stated last month that she would formally intervene in the regulatory review to press for commitments on electric bill affordability, job protections, and clean-energy investments.
John Ketchum, Chairman, President, and CEO of NextEra Energy, commented:
"This is a Virginia-first package, and it starts with customers. We are proposing to double residential bill relief from two years to four years, along with expanded low-income financial ******* istance and long-term affordability benefits. We are also reaffirming our support for the State Corporation Commission, Governor and General ******* embly's efforts to protect residential and small business customers from costs ******* ociated with serving data centers. Just as important, this package would help Virginia build more of the clean energy and infrastructure it needs faster, so the Commonwealth can reduce its reliance on expensive imported power. And it would do that while positioning Virginia as a major energy leader, bringing NextEra Energy jobs, good-paying supplier jobs, workforce investment, economic development and national-scale energy technology and innovation to Virginia. This is the kind of customer-focused, job-creating package this combination makes possible."
#energy #years #Jobs
2 months ago
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter.
Two recent road projects have been turning heads in the construction industry, and they have something interesting in common.
Both the $9.2 billion Interstate 24 Southeast Choice Lanes project in Tennessee and the $4.6 billion state Route 400 Express Lanes in Georgia use concessions, which allow a consortium in a public-private partnership to benefit from future use fees, such as revenue from tolls.
In exchange, the consortium puts forward a significant amount of cash to design, build, operate and maintain the roadways. For contractors, being a part of a consortium can potentially give them stable work and revenue for decades.
For example, in the case of the Georgia state Route 400 project, the consortium is Peach Partners, comprising Acciona Concessions, ACS Infrastructure and Meridiam, which will deliver and maintain the project under a 56-year public-private partnership. The consortium is providing a $3.8 billion concession fee to the state's DOT to help fund other roadway projects as part of the P3 to design, build, operate and maintain the express lanes, per the U.S. DOT.
#consortium #lanes #route
Two recent road projects have been turning heads in the construction industry, and they have something interesting in common.
Both the $9.2 billion Interstate 24 Southeast Choice Lanes project in Tennessee and the $4.6 billion state Route 400 Express Lanes in Georgia use concessions, which allow a consortium in a public-private partnership to benefit from future use fees, such as revenue from tolls.
In exchange, the consortium puts forward a significant amount of cash to design, build, operate and maintain the roadways. For contractors, being a part of a consortium can potentially give them stable work and revenue for decades.
For example, in the case of the Georgia state Route 400 project, the consortium is Peach Partners, comprising Acciona Concessions, ACS Infrastructure and Meridiam, which will deliver and maintain the project under a 56-year public-private partnership. The consortium is providing a $3.8 billion concession fee to the state's DOT to help fund other roadway projects as part of the P3 to design, build, operate and maintain the express lanes, per the U.S. DOT.
#consortium #lanes #route
2 months ago
On September 14, Coda Octopus Group (NASDAQ:CODA) reported third-quarter fiscal 2026 results that quietly crossed a threshold the company had never reached in its public history: positive retained earnings, after years of operating at an accumulated deficit. Revenue rose 9.2% year over year to $7.7 million, and pretax income climbed 16% to $1.8 million, even as instability in the Middle East knocked down the marine technology unit that has long been the company's calling card. The reason the quarter held together anyway comes down to where the growth actually showed up.
Defense engineering revenue jumped 68.3% to $2.7 million during the quarter, and the momentum did not look like a one-time ****** p. Sustainment spares orders have already topped $2.4 million year to date, and one prime contractor customer's new multiyear repair and sustainment award has since fed additional subcontract work back to Coda Octopus. On the newer end of the business, the company's US defense engineering team is now supporting several prime contractors building rugged, deployable RF electronic warfare systems for unmanned platforms, helicopters, airborne pods, and ground vehicles.
The DAVID diving system added its own proof points. Coda Octopus has delivered 24 DAVID systems to the US Navy to date, including 16 untethered units earlier in the year, and the Navy's authorization for use ****** sment on that untethered system was completed during the year, clearing it for full operational deployment. Since the quarter closed, the Navy has placed about $1.4 million in additional orders covering tethered systems and DAVID Flex adoption, including four units bought specifically for diving school and academy training. A European navy that already bought in is also expected to firm up a procurement roadmap later this year, while the new Nano sonar is being tested by subsea robotics OEMs and research groups for next-generation autonomous platforms. All of that arrived alongside $31.7 million in cash, no debt, and a balance sheet management says can fund acquisitions.
None of that offsets what happened in marine technology, the segment that still generates the largest share of revenue. Marine tech sales fell 15.2% to $3.4 million as customer activity slowed across the Middle East and parts of Asia, and hardware revenue specifically dropped 17.8% to $2.3 million. Improved rental utilization, with rental revenue up 131.1%, cushioned the blow but did not reverse it, and management has tied the weakness directly to geopolitical conditions it cannot control.
#revenue #david
Defense engineering revenue jumped 68.3% to $2.7 million during the quarter, and the momentum did not look like a one-time ****** p. Sustainment spares orders have already topped $2.4 million year to date, and one prime contractor customer's new multiyear repair and sustainment award has since fed additional subcontract work back to Coda Octopus. On the newer end of the business, the company's US defense engineering team is now supporting several prime contractors building rugged, deployable RF electronic warfare systems for unmanned platforms, helicopters, airborne pods, and ground vehicles.
The DAVID diving system added its own proof points. Coda Octopus has delivered 24 DAVID systems to the US Navy to date, including 16 untethered units earlier in the year, and the Navy's authorization for use ****** sment on that untethered system was completed during the year, clearing it for full operational deployment. Since the quarter closed, the Navy has placed about $1.4 million in additional orders covering tethered systems and DAVID Flex adoption, including four units bought specifically for diving school and academy training. A European navy that already bought in is also expected to firm up a procurement roadmap later this year, while the new Nano sonar is being tested by subsea robotics OEMs and research groups for next-generation autonomous platforms. All of that arrived alongside $31.7 million in cash, no debt, and a balance sheet management says can fund acquisitions.
None of that offsets what happened in marine technology, the segment that still generates the largest share of revenue. Marine tech sales fell 15.2% to $3.4 million as customer activity slowed across the Middle East and parts of Asia, and hardware revenue specifically dropped 17.8% to $2.3 million. Improved rental utilization, with rental revenue up 131.1%, cushioned the blow but did not reverse it, and management has tied the weakness directly to geopolitical conditions it cannot control.
#revenue #david
2 months ago
Sept 14 (Reuters) - Dominion Energy and NextEra Energy on Monday said they would establish a Virginia supplier program worth up to $1 billion annually for five years if their proposed merger is approved.
They announced merger plans in May, as rising power demand from data centers, electric vehicles and other industries drives a renewed wave of utility consolidation.
• NextEra and Dominion said the new program would direct spending toward contractors, suppliers and service providers in Virginia.
• They proposed extending monthly $10 bill credits to four years from two and increasing Dominion's low-income financial ***** istance by $100 million through 2038.
• The commitments include a $100 million workforce development fund, an annual energy summit in the state and maintaining the current employee headcount there for five years.
#energy #nextera #merger
They announced merger plans in May, as rising power demand from data centers, electric vehicles and other industries drives a renewed wave of utility consolidation.
• NextEra and Dominion said the new program would direct spending toward contractors, suppliers and service providers in Virginia.
• They proposed extending monthly $10 bill credits to four years from two and increasing Dominion's low-income financial ***** istance by $100 million through 2038.
• The commitments include a $100 million workforce development fund, an annual energy summit in the state and maintaining the current employee headcount there for five years.
#energy #nextera #merger
2 months ago
Wall Street has bid up defense contractors on geopolitical tensions alongside expanded missile-defense funding, but Northrop Grumman Corporation (NYSE:NOC) remains an outlier. On September 4, 2026, the company secured a $508.5 million Missile Defense Agency contract for ICBM and IRBM target flight-test support running through 2035. The non-competitive contract follows the $3 billion (approx.) in framework agreements to expand solid-rocket-motor production for PAC-3 and THAAD interceptors. Despite these bookings, stock slipped 2.5% to $515. The stock is trading near 16 times earnings and 33% below its peak, making Northrop one of the lowest-multiple prime defense contractors.
Northrop is one of the largest-cap defense contractors with exposure to Golden Dome through ******* e sensors and interceptors, while the Sentinel ICBM and the B-21 bomber provide additional exposure to broader U.S. strategic modernization. The recent bookings back that up: the $508.5 million MDA award, the ~$3 billion PAC-3 and THAAD agreements that will double and triple solid-rocket-motor capacity, and $1.4 billion of IBCS-related U.S. and Polish air-and-missile-defense awards announced in 2025. The latest MDA contract includes cost-plus, cost-reimbursable, and fixed-price-incentive elements, which reduce some financial exposure compared with purely fixed-price development work. Long-term missile-shield funding, however, remains tied to both political and defense bets. Legislative approval introduces timing risk, but the bull thesis is already working.
Execution problems explain the valuation discount. The Sentinel ICBM program triggered a critical Nunn-McCurdy breach after projected costs rose 81% to roughly $141 billion, forcing a Pentagon program restructuring. Concurrently, low-rate initial production on the B-21 bomber generated approximately $2 billion in pre-tax charges on fixed-price commitments. Management must demonstrate that these losses have ceased. Till then, multiple expansion will remain limited. Lockheed trades at roughly 19 times earnings compared with Northrop at about 16 times.
Institutional positioning does not point to aggressiveness in short trades. Our Insider Monkey database tracked 59 hedge funds holding NOC in the second quarter of 2026, compared to 62 in the first quarter. Short interest sits at 1.7% of the float, representing a low number of bets against the stock. Paired with -0.11 beta and a 1.9% dividend yield, the stock offers portfolio diversification at a discounted entry multiple.
#northrop
Northrop is one of the largest-cap defense contractors with exposure to Golden Dome through ******* e sensors and interceptors, while the Sentinel ICBM and the B-21 bomber provide additional exposure to broader U.S. strategic modernization. The recent bookings back that up: the $508.5 million MDA award, the ~$3 billion PAC-3 and THAAD agreements that will double and triple solid-rocket-motor capacity, and $1.4 billion of IBCS-related U.S. and Polish air-and-missile-defense awards announced in 2025. The latest MDA contract includes cost-plus, cost-reimbursable, and fixed-price-incentive elements, which reduce some financial exposure compared with purely fixed-price development work. Long-term missile-shield funding, however, remains tied to both political and defense bets. Legislative approval introduces timing risk, but the bull thesis is already working.
Execution problems explain the valuation discount. The Sentinel ICBM program triggered a critical Nunn-McCurdy breach after projected costs rose 81% to roughly $141 billion, forcing a Pentagon program restructuring. Concurrently, low-rate initial production on the B-21 bomber generated approximately $2 billion in pre-tax charges on fixed-price commitments. Management must demonstrate that these losses have ceased. Till then, multiple expansion will remain limited. Lockheed trades at roughly 19 times earnings compared with Northrop at about 16 times.
Institutional positioning does not point to aggressiveness in short trades. Our Insider Monkey database tracked 59 hedge funds holding NOC in the second quarter of 2026, compared to 62 in the first quarter. Short interest sits at 1.7% of the float, representing a low number of bets against the stock. Paired with -0.11 beta and a 1.9% dividend yield, the stock offers portfolio diversification at a discounted entry multiple.
#northrop
2 months ago
The biggest oil companies in the United States are playing hardball in unionized labor negotiations in a bid to get more concessions from workers' unions in the new contracts.
Over the past few years, some of the top U.S. refining companies have resorted to lockouts to ensure most of the company management's proposals in new labor contracts are accepted.
The trend began earlier this decade with Exxon locking out in 2021 as many as 650 workers out of the Beaumont refinery for 10 months. This was the longest labor dispute at a U.S. refinery in four decades.
Five years later, BP and Marathon are currently in a similar position, locking out workers at their Whiting, Indiana, and Martinez, California, refineries, respectively, amid labor disputes over union contracts.
The refineries continue to operate with contractors, supervisors, and replacement workers. The continued operations show that Big Oil is not as afraid as it used to be to use replacement staff while seeking concessions from the unions.
#contracts #unions #refinery
Over the past few years, some of the top U.S. refining companies have resorted to lockouts to ensure most of the company management's proposals in new labor contracts are accepted.
The trend began earlier this decade with Exxon locking out in 2021 as many as 650 workers out of the Beaumont refinery for 10 months. This was the longest labor dispute at a U.S. refinery in four decades.
Five years later, BP and Marathon are currently in a similar position, locking out workers at their Whiting, Indiana, and Martinez, California, refineries, respectively, amid labor disputes over union contracts.
The refineries continue to operate with contractors, supervisors, and replacement workers. The continued operations show that Big Oil is not as afraid as it used to be to use replacement staff while seeking concessions from the unions.
#contracts #unions #refinery
2 months ago
The biggest oil companies in the United States are playing hardball in unionized labor negotiations in a bid to get more concessions from workers' unions in the new contracts.
Over the past few years, some of the top U.S. refining companies have resorted to lockouts to ensure most of the company management's proposals in new labor contracts are accepted.
The trend began earlier this decade with Exxon locking out in 2021 as many as 650 workers out of the Beaumont refinery for 10 months. This was the longest labor dispute at a U.S. refinery in four decades.
Five years later, BP and Marathon are currently in a similar position, locking out workers at their Whiting, Indiana, and Martinez, California, refineries, respectively, amid labor disputes over union contracts.
The refineries continue to operate with contractors, supervisors, and replacement workers. The continued operations show that Big Oil is not as afraid as it used to be to use replacement staff while seeking concessions from the unions.
#contracts
Over the past few years, some of the top U.S. refining companies have resorted to lockouts to ensure most of the company management's proposals in new labor contracts are accepted.
The trend began earlier this decade with Exxon locking out in 2021 as many as 650 workers out of the Beaumont refinery for 10 months. This was the longest labor dispute at a U.S. refinery in four decades.
Five years later, BP and Marathon are currently in a similar position, locking out workers at their Whiting, Indiana, and Martinez, California, refineries, respectively, amid labor disputes over union contracts.
The refineries continue to operate with contractors, supervisors, and replacement workers. The continued operations show that Big Oil is not as afraid as it used to be to use replacement staff while seeking concessions from the unions.
#contracts
2 months ago
On August 6, Frontdoor (NASDAQ:FTDR) reported second-quarter results that outpaced its own recent history. Revenue rose 5% to $645 million, but profit grew faster: net income jumped 13% to $125 million, and earnings per share climbed 19% to $1.76. Adjusted EBITDA rose 10% to $220 million. Management liked what it saw enough to raise full-year revenue and Adjusted EBITDA guidance, a signal it expects the momentum to carry through the rest of 2026 rather than fade as a one-quarter ******* p.
Frontdoor's growth mix should please shareholders. About three percentage points of the 5% revenue increase came from higher realized price through its dynamic pricing model, with roughly one point from volume. That pricing lever flowed straight through to margins, as gross profit margin rose to 59% for the quarter. The renewal channel, the largest and stickiest part of the business, grew revenue 4% to $479 million, while total home warranty membership climbed 1% to 2.11 million.
The company's own earnings bridge shows why profit outran revenue: contract claims costs fell $7 million year over year, helped by $5 million in favorable weather, even after absorbing low-single-digit cost inflation across its contractor network and replacement parts. Frontdoor also leaned harder into buybacks, repurchasing $181 million of stock through July, up more than 21% from the same stretch a year earlier. For 2026, management now guides to revenue of $2.19 billion to $2.21 billion and Adjusted EBITDA of $585 million to $600 million, both raised, with first-year home warranty membership expected to grow roughly 5% for the full year.
The same release shows cracks alongside the strength. Direct-to-consumer revenue fell 2% to $55 million, as Frontdoor leaned on promotional pricing to win new members, a trade-off between growth and realized price that shows up directly in that line. Cash generation cooled too: operating cash flow for the first six months of 2026 came in at $245 million, down from $251 million a year earlier, and the period's total cash increase slowed to $62 million from $141 million, partly because investing activities swung to a $14 million outflow from a $42 million inflow the year before.
Financing activities used $169 million, more than the $153 million spent in the same period last year, largely reflecting the faster buyback pace plus $14 million in scheduled debt payments. For the full year, Frontdoor is guiding gross profit margin down to roughly 55%, well below the 59% posted this quarter, and it still expects direct-to-consumer revenue to decline at a low-single-digit rate. SG&A is projected at $685 million to $695 million, with low-single-digit cost inflation across contractors, parts, and equipment that could bite harder if weather turns less favorable than it was this quarter.
#revenue #adjusted #cash
Frontdoor's growth mix should please shareholders. About three percentage points of the 5% revenue increase came from higher realized price through its dynamic pricing model, with roughly one point from volume. That pricing lever flowed straight through to margins, as gross profit margin rose to 59% for the quarter. The renewal channel, the largest and stickiest part of the business, grew revenue 4% to $479 million, while total home warranty membership climbed 1% to 2.11 million.
The company's own earnings bridge shows why profit outran revenue: contract claims costs fell $7 million year over year, helped by $5 million in favorable weather, even after absorbing low-single-digit cost inflation across its contractor network and replacement parts. Frontdoor also leaned harder into buybacks, repurchasing $181 million of stock through July, up more than 21% from the same stretch a year earlier. For 2026, management now guides to revenue of $2.19 billion to $2.21 billion and Adjusted EBITDA of $585 million to $600 million, both raised, with first-year home warranty membership expected to grow roughly 5% for the full year.
The same release shows cracks alongside the strength. Direct-to-consumer revenue fell 2% to $55 million, as Frontdoor leaned on promotional pricing to win new members, a trade-off between growth and realized price that shows up directly in that line. Cash generation cooled too: operating cash flow for the first six months of 2026 came in at $245 million, down from $251 million a year earlier, and the period's total cash increase slowed to $62 million from $141 million, partly because investing activities swung to a $14 million outflow from a $42 million inflow the year before.
Financing activities used $169 million, more than the $153 million spent in the same period last year, largely reflecting the faster buyback pace plus $14 million in scheduled debt payments. For the full year, Frontdoor is guiding gross profit margin down to roughly 55%, well below the 59% posted this quarter, and it still expects direct-to-consumer revenue to decline at a low-single-digit rate. SG&A is projected at $685 million to $695 million, with low-single-digit cost inflation across contractors, parts, and equipment that could bite harder if weather turns less favorable than it was this quarter.
#revenue #adjusted #cash
2 months ago
Chicago Mayor Brandon Johnson signed an executive order on Wednesday requiring city contractors to disclose information about leadership diversity demographics, as well as report whether they have any ties to certain law enforcement agencies such as ICE, as he moves to use the city's purchasing power to impose new contracting standards.
Johnson said workplace data was necessary to identify discrimination and criticized the Trump administration's efforts to end federal reporting requirements.
"If you want to do business with this city, we want to know whether the people leading your company reflect the diversity of the communities whose tax dollars are paying your contracts," Johnson said.
The Department of Homeland Security (DHS) accused Johnson of punishing American companies for ***** isting federal immigration enforcement.
Chicago Mayor Brandon Johnson signed an executive order imposing new disclosure requirements on companies seeking city contracts.
#diversity #whether
Johnson said workplace data was necessary to identify discrimination and criticized the Trump administration's efforts to end federal reporting requirements.
"If you want to do business with this city, we want to know whether the people leading your company reflect the diversity of the communities whose tax dollars are paying your contracts," Johnson said.
The Department of Homeland Security (DHS) accused Johnson of punishing American companies for ***** isting federal immigration enforcement.
Chicago Mayor Brandon Johnson signed an executive order imposing new disclosure requirements on companies seeking city contracts.
#diversity #whether
2 months ago
On August 19, Lowe's Companies (NYSE:LOW) reported second-quarter sales of $26 billion, up 8.3% from a year earlier, even though comparable sales inched up just 0.2%. The headline number hides a split personality inside the business. Pro contractors, online shoppers and Do-It-For-Me customers kept spending, while everyday DIY homeowners pulled back hard enough that management trimmed its full-year guidance. That gap between who is still spending and who isn't is the real story in this quarter.
Pro sales grew again, and management credited small and medium-sized contractors responding to the company's digital planning tools and the MyLowe's Pro Rewards loyalty program, which lets Pros quote, plan, and manage jobs inside Lowe's own platform. Online sales jumped 15.7%, helped by expanded visualization tools and the Mylow AI agent, which has fielded more than 25 million customer and ******* ociate questions since launch.
Notably, CEO Marvin Ellison said the conversion rate for online shoppers who use Mylow runs triple that of shoppers who don't, a sign the tool is doing more than answering questions. Appliances delivered a seventh straight quarter of positive comparable sales, aided by next-day delivery in virtually every US ZIP code and a push into premium products like Traeger grills and a GE Profile refrigerator that scans groceries for an Instacart shopping list. Loyalty is compounding too: MyLowe's Rewards has crossed 30 million members who shop more often and spend more per visit than nonmembers, giving the company a growing base to sell that premium ******* ortment into even while the broader housing market stalls.
Comparable transactions fell 2.1% during the quarter, offset only by a 2.3% rise in average ticket, and management pinned the weakness on weather-sensitive and seasonal categories where DIY shoppers dominate. Executive Vice President Joe McFarland said Pro customers themselves are noticing it, describing homeowners who are "more cautious about their spending" and shifting toward smaller repair jobs instead of full remodels.
That caution pushed Lowe's to guide toward the bottom of its prior range, now targeting roughly $92 billion in sales and $12.25 in adjusted earnings per share for the full year. Margins felt it too. Adjusted operating margin slipped 62 basis points to 14%, and CFO Brandon Sink noted that an $80 million tariff refund benefit was largely wiped out by elevated fuel and transportation costs. The company's Foundation Building Materials and Artisan Design Group acquisitions add another layer of risk, since Sink flagged "softer-for-longer new home construction" pressuring demand in both segments. Inventory climbed to $17.7 billion, up $1.4 billion year over year, and adjusted debt to EBITDA sits at 3.0x against a 2.75x target management doesn't expect to hit until mid-2027. Third quarter earnings are guided to come in roughly 7% below last year's adjusted EPS.
#sales #billion #shoppers #online
Pro sales grew again, and management credited small and medium-sized contractors responding to the company's digital planning tools and the MyLowe's Pro Rewards loyalty program, which lets Pros quote, plan, and manage jobs inside Lowe's own platform. Online sales jumped 15.7%, helped by expanded visualization tools and the Mylow AI agent, which has fielded more than 25 million customer and ******* ociate questions since launch.
Notably, CEO Marvin Ellison said the conversion rate for online shoppers who use Mylow runs triple that of shoppers who don't, a sign the tool is doing more than answering questions. Appliances delivered a seventh straight quarter of positive comparable sales, aided by next-day delivery in virtually every US ZIP code and a push into premium products like Traeger grills and a GE Profile refrigerator that scans groceries for an Instacart shopping list. Loyalty is compounding too: MyLowe's Rewards has crossed 30 million members who shop more often and spend more per visit than nonmembers, giving the company a growing base to sell that premium ******* ortment into even while the broader housing market stalls.
Comparable transactions fell 2.1% during the quarter, offset only by a 2.3% rise in average ticket, and management pinned the weakness on weather-sensitive and seasonal categories where DIY shoppers dominate. Executive Vice President Joe McFarland said Pro customers themselves are noticing it, describing homeowners who are "more cautious about their spending" and shifting toward smaller repair jobs instead of full remodels.
That caution pushed Lowe's to guide toward the bottom of its prior range, now targeting roughly $92 billion in sales and $12.25 in adjusted earnings per share for the full year. Margins felt it too. Adjusted operating margin slipped 62 basis points to 14%, and CFO Brandon Sink noted that an $80 million tariff refund benefit was largely wiped out by elevated fuel and transportation costs. The company's Foundation Building Materials and Artisan Design Group acquisitions add another layer of risk, since Sink flagged "softer-for-longer new home construction" pressuring demand in both segments. Inventory climbed to $17.7 billion, up $1.4 billion year over year, and adjusted debt to EBITDA sits at 3.0x against a 2.75x target management doesn't expect to hit until mid-2027. Third quarter earnings are guided to come in roughly 7% below last year's adjusted EPS.
#sales #billion #shoppers #online
2 months ago
A town's businesses have said they will "suffer massively" if they are forced to strip the streets outside their shops of displays and signage.
Hampshire County Council told traders in Lymington's cobbled Quay Street they must remove such items by Friday, or contractors could remove them instead.
The move follows three anonymous complaints made on 15 July, relating to items outside Quayside Fish Hut, Out of the Blue and Lymington Mobiles.
A Hampshire County Council spokesperson said it was responsible for keeping pavements and verges "safe and accessible for everyone".
It also said items such as advertising boards could narrow footways, block access and create hazards.
#remove
Hampshire County Council told traders in Lymington's cobbled Quay Street they must remove such items by Friday, or contractors could remove them instead.
The move follows three anonymous complaints made on 15 July, relating to items outside Quayside Fish Hut, Out of the Blue and Lymington Mobiles.
A Hampshire County Council spokesperson said it was responsible for keeping pavements and verges "safe and accessible for everyone".
It also said items such as advertising boards could narrow footways, block access and create hazards.
#remove
2 months ago
Lowe's Companies, Inc. (NYSE:LOW) delivered an earnings beat alongside weak organic growth and a reduced outlook. Second-quarter total sales increased approximately 8.3% to $25.96 billion, supported by acquisitions, but organic comparable sales rose just 0.2%, below the 0.8% expected. Diluted earnings were $4.27 per share. Company-defined adjusted diluted earnings, a non-GAAP measure, reached $4.40 per share and exceeded the $4.22 FactSet consensus estimate. Results also included a $0.11-per-share benefit from tariff refunds. Management reduced its full-year sales forecast to $92 billion and now expects comparable sales to be approximately flat. Still, the shares reversed a premarket decline and closed 2.0% higher at $220 on August 19. For Lowe's Companies, Inc. (NYSE:LOW), the question is whether contractor demand can cushion the combined pressure from weak DIY spending and subdued housing activity.
The operating split was clear. Pro, online, and home services growth helped Lowe's Companies, Inc. (NYSE:LOW) produce a fifth consecutive quarter of positive comparable sales. Online sales increased nearly 16%, while contractors and repair-and-maintenance projects supported demand. Acquisitions expanded the reported revenue base but are excluded from the comparable-sales calculation, making the 0.2% organic increase the better measure of underlying momentum.
The weaker side extends beyond the consumer. Lowe's Companies, Inc. (NYSE:LOW) said persistent pressure on discretionary DIY spending partly offset its stronger categories. The revised outlook also incorporated softer housing trends affecting Foundation Building Materials and Artisan Design Group, particularly their residential-construction exposure. Consumers continue prioritizing necessary repairs while postponing larger projects, and weak housing turnover is also limiting construction and renovation activity.
Lowe's Companies, Inc. (NYSE:LOW) is getting support from customers whose spending is less discretionary than a kitchen remodel or major outdoor project. Pro demand, home services, and online growth provide several ways to capture repair, maintenance, and contractor spending while DIY customers remain cautious. The adjusted earnings beat shows that profitability held up better than organic sales, even after accounting for the tariff-refund benefit. If lower mortgage rates eventually revive housing turnover, these businesses could provide a stronger base for renewed DIY and construction demand.
#Companies #NYSE #housing #online
The operating split was clear. Pro, online, and home services growth helped Lowe's Companies, Inc. (NYSE:LOW) produce a fifth consecutive quarter of positive comparable sales. Online sales increased nearly 16%, while contractors and repair-and-maintenance projects supported demand. Acquisitions expanded the reported revenue base but are excluded from the comparable-sales calculation, making the 0.2% organic increase the better measure of underlying momentum.
The weaker side extends beyond the consumer. Lowe's Companies, Inc. (NYSE:LOW) said persistent pressure on discretionary DIY spending partly offset its stronger categories. The revised outlook also incorporated softer housing trends affecting Foundation Building Materials and Artisan Design Group, particularly their residential-construction exposure. Consumers continue prioritizing necessary repairs while postponing larger projects, and weak housing turnover is also limiting construction and renovation activity.
Lowe's Companies, Inc. (NYSE:LOW) is getting support from customers whose spending is less discretionary than a kitchen remodel or major outdoor project. Pro demand, home services, and online growth provide several ways to capture repair, maintenance, and contractor spending while DIY customers remain cautious. The adjusted earnings beat shows that profitability held up better than organic sales, even after accounting for the tariff-refund benefit. If lower mortgage rates eventually revive housing turnover, these businesses could provide a stronger base for renewed DIY and construction demand.
#Companies #NYSE #housing #online
2 months ago
Lowe's Companies (NYSE: LOW) recently reported its fiscal second-quarter results. This covered the period that ended on July 31. What do the company's sales and earnings tell us about the company's long-term growth prospects and total return potential? Let's take a closer look at the results.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
There's no getting around it. Lowe's second-quarter sales were weak. Its same-store sales (comps) were essentially flat, growing a scant 0.2%. Management blamed the tepid sales result largely on macroeconomic pressures that have affected do-it-yourself homeowners' willingness to take on projects. Positively, sales to professional contractors, an area of focus, were strong.
In the near term, management doesn't expect sales growth to pick up. It now anticipates flat comps for the year, down from its previous expectation of 0% to 2%.
Still, shareholders can confidently rely on dividends. Lowe's has raised the payout annually for more than a quarter of a century. Most recently, it increased the quarterly dividend by more than 4% to $1.25 per share. At the new rate, Lowe's shares have a 2.3% dividend yield. That's more than double the S&P 500 index's 1.1% yield.
#flashing #down
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
There's no getting around it. Lowe's second-quarter sales were weak. Its same-store sales (comps) were essentially flat, growing a scant 0.2%. Management blamed the tepid sales result largely on macroeconomic pressures that have affected do-it-yourself homeowners' willingness to take on projects. Positively, sales to professional contractors, an area of focus, were strong.
In the near term, management doesn't expect sales growth to pick up. It now anticipates flat comps for the year, down from its previous expectation of 0% to 2%.
Still, shareholders can confidently rely on dividends. Lowe's has raised the payout annually for more than a quarter of a century. Most recently, it increased the quarterly dividend by more than 4% to $1.25 per share. At the new rate, Lowe's shares have a 2.3% dividend yield. That's more than double the S&P 500 index's 1.1% yield.
#flashing #down
3 months ago
A version of this article originally appeared in Quartz's members-only Weekend Brief newsletter. Quartz members get access to exclusive newsletters and more. Sign up here.
A laptop used to be something you bought once. Apple just made it something you can pay for every month.
Instead of buying a MacBook or an iPhone outright, customers can now lease one through Apple for a recurring monthly payment. It puts the device itself alongside services such as iCloud and Apple Music in the growing pile of bills that never quite go away.
That same logic has quietly spread almost everywhere else. Tesla charges $99 a month for its Full Self-Driving feature, with Elon Musk warning that the price will climb as the technology improves. HVAC contractors are pitching homeowners on "comfort plans" that bundle a furnace, a compressor, and a decade of maintenance into a single monthly bill, with no upfront cost required.
Car washes have turned an inherently one-off transaction into a membership business. Restaurants are experimenting with drink clubs and meal passes.
#Apple #month #monthly #instead
A laptop used to be something you bought once. Apple just made it something you can pay for every month.
Instead of buying a MacBook or an iPhone outright, customers can now lease one through Apple for a recurring monthly payment. It puts the device itself alongside services such as iCloud and Apple Music in the growing pile of bills that never quite go away.
That same logic has quietly spread almost everywhere else. Tesla charges $99 a month for its Full Self-Driving feature, with Elon Musk warning that the price will climb as the technology improves. HVAC contractors are pitching homeowners on "comfort plans" that bundle a furnace, a compressor, and a decade of maintenance into a single monthly bill, with no upfront cost required.
Car washes have turned an inherently one-off transaction into a membership business. Restaurants are experimenting with drink clubs and meal passes.
#Apple #month #monthly #instead
3 months ago
Lowe's Companies, Inc. (NYSE:LOW) delivered an earnings beat alongside weak organic growth and a reduced outlook. Second-quarter total sales increased approximately 8.3% to $25.96 billion, supported by acquisitions, but organic comparable sales rose just 0.2%, below the 0.8% expected. Diluted earnings were $4.27 per share. Company-defined adjusted diluted earnings, a non-GAAP measure, reached $4.40 per share and exceeded the $4.22 FactSet consensus estimate. Results also included a $0.11-per-share benefit from tariff refunds. Management reduced its full-year sales forecast to $92 billion and now expects comparable sales to be approximately flat. Still, the shares reversed a premarket decline and closed 2.0% higher at $220 on August 19. For Lowe's Companies, Inc. (NYSE:LOW), the question is whether contractor demand can cushion the combined pressure from weak DIY spending and subdued housing activity.
The operating split was clear. Pro, online, and home services growth helped Lowe's Companies, Inc. (NYSE:LOW) produce a fifth consecutive quarter of positive comparable sales. Online sales increased nearly 16%, while contractors and repair-and-maintenance projects supported demand. Acquisitions expanded the reported revenue base but are excluded from the comparable-sales calculation, making the 0.2% organic increase the better measure of underlying momentum.
The weaker side extends beyond the consumer. Lowe's Companies, Inc. (NYSE:LOW) said persistent pressure on discretionary DIY spending partly offset its stronger categories. The revised outlook also incorporated softer housing trends affecting Foundation Building Materials and Artisan Design Group, particularly their residential-construction exposure. Consumers continue prioritizing necessary repairs while postponing larger projects, and weak housing turnover is also limiting construction and renovation activity.
Lowe's Companies, Inc. (NYSE:LOW) is getting support from customers whose spending is less discretionary than a kitchen remodel or major outdoor project. Pro demand, home services, and online growth provide several ways to capture repair, maintenance, and contractor spending while DIY customers remain cautious. The adjusted earnings beat shows that profitability held up better than organic sales, even after accounting for the tariff-refund benefit. If lower mortgage rates eventually revive housing turnover, these businesses could provide a stronger base for renewed DIY and construction demand.
#sales #comparable
The operating split was clear. Pro, online, and home services growth helped Lowe's Companies, Inc. (NYSE:LOW) produce a fifth consecutive quarter of positive comparable sales. Online sales increased nearly 16%, while contractors and repair-and-maintenance projects supported demand. Acquisitions expanded the reported revenue base but are excluded from the comparable-sales calculation, making the 0.2% organic increase the better measure of underlying momentum.
The weaker side extends beyond the consumer. Lowe's Companies, Inc. (NYSE:LOW) said persistent pressure on discretionary DIY spending partly offset its stronger categories. The revised outlook also incorporated softer housing trends affecting Foundation Building Materials and Artisan Design Group, particularly their residential-construction exposure. Consumers continue prioritizing necessary repairs while postponing larger projects, and weak housing turnover is also limiting construction and renovation activity.
Lowe's Companies, Inc. (NYSE:LOW) is getting support from customers whose spending is less discretionary than a kitchen remodel or major outdoor project. Pro demand, home services, and online growth provide several ways to capture repair, maintenance, and contractor spending while DIY customers remain cautious. The adjusted earnings beat shows that profitability held up better than organic sales, even after accounting for the tariff-refund benefit. If lower mortgage rates eventually revive housing turnover, these businesses could provide a stronger base for renewed DIY and construction demand.
#sales #comparable
3 months ago
The Department of Defense continues to dole out lucrative contracts as the Pentagon looks to modernize and upgrade its supply chain. Boeing on Monday won a $131 billion contract covering the F-15 fighter jet fleet. The Missile Development Agency granted Parsons a contract extension worth more than $500 million. General Dynamics landed an armored vehicle contract. Elsewhere, William Blair lifted its 2027 targets for Booz Allen Hamilton after the company closed a $720 million acquisition.
Defense stocks were mixed early Tuesday.
The Air Force on Monday awarded Boeing (BA) a $131.23 billion contract to support the F-15 Eagle Crest program, which oversees the F-15 fighter jet fleet. The indefinite-delivery/indefinite-quantity contract covers aircraft production, systems integration, modernization, upgrades, retrofits and sustainment. The contract also calls for Boeing to establish organic depot maintenance capabilities for F-15 Eagle weapons systems for the Air Force, Air National Guard and other Department of Defense customers.
"Organic depot maintenance" refers to government facilities that do not rely on support from commercial contractors.
The DOD said Boeing will perform the work at its St. Louis, Missouri facility and it expects to complete it by August 2037. The ordering period for the contract runs to Aug. 24, 2031, with an option to extend to Aug. 24, 2036.
#eagle
Defense stocks were mixed early Tuesday.
The Air Force on Monday awarded Boeing (BA) a $131.23 billion contract to support the F-15 Eagle Crest program, which oversees the F-15 fighter jet fleet. The indefinite-delivery/indefinite-quantity contract covers aircraft production, systems integration, modernization, upgrades, retrofits and sustainment. The contract also calls for Boeing to establish organic depot maintenance capabilities for F-15 Eagle weapons systems for the Air Force, Air National Guard and other Department of Defense customers.
"Organic depot maintenance" refers to government facilities that do not rely on support from commercial contractors.
The DOD said Boeing will perform the work at its St. Louis, Missouri facility and it expects to complete it by August 2037. The ordering period for the contract runs to Aug. 24, 2031, with an option to extend to Aug. 24, 2036.
#eagle
3 months ago
When investors think about artificial intelligence (AI) stocks, the usual names that come to mind are chipmakers powering the AI boom, cloud providers building the infrastructure, and companies developing the large language models (LLMs) behind the technology. Duolingo (DUOL), the company behind the world's most popular language-learning app, is rarely part of that conversation. Yet AI could prove to be just as important to Duolingo's future as it is to the companies at the center of the AI boom. The company initially found itself caught between two competing narratives.
On one hand, investors worried that increasingly capable AI translators and conversational models could eventually make language-learning apps unnecessary. On the other, Duolingo's own push toward an "AI-first" strategy sparked backlash from users, particularly after the company began replacing human contractors with AI. But while AI has created legitimate challenges for the business, it has also become a powerful tool for expanding what Duolingo can offer. One of the clearest benefits has been course creation.
Soros Fund Management Opened a New Position in Nebius During Q2. What This Means for NBIS Stock.
Ahead of Nvidia Earnings, Here's What Barchart Data Says Comes Next for NVDA Stock
Nvidia Earnings, Jackson Hole and Other Key Things to Watch this Week
#boom #models
On one hand, investors worried that increasingly capable AI translators and conversational models could eventually make language-learning apps unnecessary. On the other, Duolingo's own push toward an "AI-first" strategy sparked backlash from users, particularly after the company began replacing human contractors with AI. But while AI has created legitimate challenges for the business, it has also become a powerful tool for expanding what Duolingo can offer. One of the clearest benefits has been course creation.
Soros Fund Management Opened a New Position in Nebius During Q2. What This Means for NBIS Stock.
Ahead of Nvidia Earnings, Here's What Barchart Data Says Comes Next for NVDA Stock
Nvidia Earnings, Jackson Hole and Other Key Things to Watch this Week
#boom #models
3 months ago
The copper tariff premium was the visible signal that faded; the quiet rebuild of its US mines was the half of the move an investor could actually see coming.
Freeport-McMoRan (FCX) stock returned about 74% over the year to August 20, 2026, against about 20% for the S&P 500. It managed that with the Grasberg Block Cave in Indonesia still recovering toward full capacity. The part of that move Freeport controlled was visible seven months before the run began, and it was not the tariff signal everyone was watching.
The US Rebuild Was Named Seven Months Early
By late January 2025 management had already named the target: 2024 was to be the floor year for its US business, with US production guided up 8% in 2025. By April 2025 better retention had cut Freeport's reliance on costlier contractors: contractor hours at Morenci, its largest US mine, were down about 20% over the prior few quarters, and the autonomous haul truck conversion at its Bagdad mine was under way. In fiscal Q2 2026 Morenci's mining rate ran 30% higher than its five-year average, and the US mining operations delivered 2.4x more operating income in the first half of 2026 than in the first half of 2025, making them the highest earnings contributor across the portfolio of mines Freeport runs, on a US business management highlighted as exposed to favorable copper markets. Converting higher mining rates into operating income is the kind of profitability the Trefis High Quality Portfolio favors in its holdings.
The Premium Everyone Could See Did Not Last
#half #premium
Freeport-McMoRan (FCX) stock returned about 74% over the year to August 20, 2026, against about 20% for the S&P 500. It managed that with the Grasberg Block Cave in Indonesia still recovering toward full capacity. The part of that move Freeport controlled was visible seven months before the run began, and it was not the tariff signal everyone was watching.
The US Rebuild Was Named Seven Months Early
By late January 2025 management had already named the target: 2024 was to be the floor year for its US business, with US production guided up 8% in 2025. By April 2025 better retention had cut Freeport's reliance on costlier contractors: contractor hours at Morenci, its largest US mine, were down about 20% over the prior few quarters, and the autonomous haul truck conversion at its Bagdad mine was under way. In fiscal Q2 2026 Morenci's mining rate ran 30% higher than its five-year average, and the US mining operations delivered 2.4x more operating income in the first half of 2026 than in the first half of 2025, making them the highest earnings contributor across the portfolio of mines Freeport runs, on a US business management highlighted as exposed to favorable copper markets. Converting higher mining rates into operating income is the kind of profitability the Trefis High Quality Portfolio favors in its holdings.
The Premium Everyone Could See Did Not Last
#half #premium
3 months ago
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter.
Robots are gaining steam in the construction industry, with two announcements this week highlighting the demand for these solutions on jobsites.
On Monday, global investment behemoth SoftBank threw its weight behind Gravis Robotics in a $200 million Series A funding round. That same day, Bedrock Robotics, founded by alumni from robotaxi firm Waymo, announced its machines were doing work on real jobsites for established contractors, including Sundt Construction and Zachry Construction.
Those are only the latest developments in the sector. Last year, "robot brain" maker FieldAI raised $405 million across two consecutive funding rounds. And Bedrock's latest jobsite announcement followed its February funding news, where it raised $270 million in a Series B round.
The focus on robots in construction demonstrates not only a desire from legacy investors to pursue automation in the sector, but the need of contractors to find labor — human or otherwise — to complete jobs. As Bedrock CEO Boris Sofman told Construction Dive earlier this week, "We are seeing increasing projects with millions of cubic yards of earth to be moved."
#dive #robotics #robots
Robots are gaining steam in the construction industry, with two announcements this week highlighting the demand for these solutions on jobsites.
On Monday, global investment behemoth SoftBank threw its weight behind Gravis Robotics in a $200 million Series A funding round. That same day, Bedrock Robotics, founded by alumni from robotaxi firm Waymo, announced its machines were doing work on real jobsites for established contractors, including Sundt Construction and Zachry Construction.
Those are only the latest developments in the sector. Last year, "robot brain" maker FieldAI raised $405 million across two consecutive funding rounds. And Bedrock's latest jobsite announcement followed its February funding news, where it raised $270 million in a Series B round.
The focus on robots in construction demonstrates not only a desire from legacy investors to pursue automation in the sector, but the need of contractors to find labor — human or otherwise — to complete jobs. As Bedrock CEO Boris Sofman told Construction Dive earlier this week, "We are seeing increasing projects with millions of cubic yards of earth to be moved."
#dive #robotics #robots
3 months ago
LAS VEGAS (AP) — The Athletics' stadium on the Las Vegas Strip is beginning to resemble the final product, with the second steel truss arch added this week for what will eventually provide a similar look to Australia's famed Sydney Opera House.
"This week was a very exciting week," said Tyler Van Eeckhaut, project director for contractors Mortenson-McCarthy. "We set the center truss, which kicks off with a tremendous amount of work for the next upcoming months."
A's President Marc Badain said following Thursday's Las Vegas Stadium Authority meeting that the $2 billion, 33,000-person capacity domed ballpark remains on schedule to be completed in time for the 2028 season.
"I think everyone's very pleased," Badain said. "The workforce in this community has delivered on hundreds of projects over the last 30, 40, 50 years, so certainly we're not surprised. It's nice to see the vision come to life and see the trusses come up and take their part in the skyline, and it's going to be a nice anchor on the south part of the Strip. Certainly the first building you see when you land at Harry Reid Airport."
There was a concern at the prior Stadium Authority meeting over whether the A's might have to build a temporary plaza to be ready when the ballpark opens. Bally's Corp. at that time hadn't yet raised financing for an elevated plaza on the property as part of a $1.19 billion mixed-use project that includes restaurants, shopping and entertainment in addition to a hotel-casino and 2,500-seat theater.
#week #part #project
"This week was a very exciting week," said Tyler Van Eeckhaut, project director for contractors Mortenson-McCarthy. "We set the center truss, which kicks off with a tremendous amount of work for the next upcoming months."
A's President Marc Badain said following Thursday's Las Vegas Stadium Authority meeting that the $2 billion, 33,000-person capacity domed ballpark remains on schedule to be completed in time for the 2028 season.
"I think everyone's very pleased," Badain said. "The workforce in this community has delivered on hundreds of projects over the last 30, 40, 50 years, so certainly we're not surprised. It's nice to see the vision come to life and see the trusses come up and take their part in the skyline, and it's going to be a nice anchor on the south part of the Strip. Certainly the first building you see when you land at Harry Reid Airport."
There was a concern at the prior Stadium Authority meeting over whether the A's might have to build a temporary plaza to be ready when the ballpark opens. Bally's Corp. at that time hadn't yet raised financing for an elevated plaza on the property as part of a $1.19 billion mixed-use project that includes restaurants, shopping and entertainment in addition to a hotel-casino and 2,500-seat theater.
#week #part #project
3 months ago
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter.
Robots are gaining steam in the construction industry, with two announcements this week highlighting the demand for these solutions on jobsites.
On Monday, global investment behemoth SoftBank threw its weight behind Gravis Robotics in a $200 million Series A funding round. That same day, Bedrock Robotics, founded by alumni from robotaxi firm Waymo, announced its machines were doing work on real jobsites for established contractors, including Sundt Construction and Zachry Construction.
Those are only the latest developments in the sector. Last year, "robot brain" maker FieldAI raised $405 million across two consecutive funding rounds. And Bedrock's latest jobsite announcement followed its February funding news, where it raised $270 million in a Series B round.
The focus on robots in construction demonstrates not only a desire from legacy investors to pursue automation in the sector, but the need of contractors to find labor — human or otherwise — to complete jobs. As Bedrock CEO Boris Sofman told Construction Dive earlier this week, "We are seeing increasing projects with millions of cubic yards of earth to be moved."
#robotics #week
Robots are gaining steam in the construction industry, with two announcements this week highlighting the demand for these solutions on jobsites.
On Monday, global investment behemoth SoftBank threw its weight behind Gravis Robotics in a $200 million Series A funding round. That same day, Bedrock Robotics, founded by alumni from robotaxi firm Waymo, announced its machines were doing work on real jobsites for established contractors, including Sundt Construction and Zachry Construction.
Those are only the latest developments in the sector. Last year, "robot brain" maker FieldAI raised $405 million across two consecutive funding rounds. And Bedrock's latest jobsite announcement followed its February funding news, where it raised $270 million in a Series B round.
The focus on robots in construction demonstrates not only a desire from legacy investors to pursue automation in the sector, but the need of contractors to find labor — human or otherwise — to complete jobs. As Bedrock CEO Boris Sofman told Construction Dive earlier this week, "We are seeing increasing projects with millions of cubic yards of earth to be moved."
#robotics #week
3 months ago
LIV Golf might be preparing for its next chapter with new investors, but more contractors and vendors claim they're owed money by the league.
The credit division of private investment firm BC Partners is exploring a funding deal with LIV to help the league continue operating in 2027 and beyond. This week's LIV Golf Indianapolis event is set to pay out $30 million in prize money, but details about LIV's expected-to-be-canceled $40 million team championship in Michigan still remain scarce.
As the tumultuous 2026 season comes to a close, no full-time employees are known to have seen any missed paychecks since the Saudi PIF announced in April it would no longer fund LIV after this season.
But many contract workers—both past and present—say they're owed money for services rendered earlier this year, and remain in the dark about when or if they will receive those payments. Like many professional sports entities, LIV outsources services like video production, data collection, merchandising, tournament food and beverage operations, among others. Front Office Sports spoke with several such people and verified their current or former affiliation with LIV; they were granted anonymity for this story in order to preserve their identity as they continue working for LIV or continue their efforts to get paid.
The amounts owed to individuals by LIV range from several thousand dollars to nearly $100,000, according to the people who spoke with FOS, some of whom have worked with LIV since its first event in 2022. Other contractors and vendors that have so far stayed quiet could be owed even more, those people say.
#like #contractors #vendors #they 're
The credit division of private investment firm BC Partners is exploring a funding deal with LIV to help the league continue operating in 2027 and beyond. This week's LIV Golf Indianapolis event is set to pay out $30 million in prize money, but details about LIV's expected-to-be-canceled $40 million team championship in Michigan still remain scarce.
As the tumultuous 2026 season comes to a close, no full-time employees are known to have seen any missed paychecks since the Saudi PIF announced in April it would no longer fund LIV after this season.
But many contract workers—both past and present—say they're owed money for services rendered earlier this year, and remain in the dark about when or if they will receive those payments. Like many professional sports entities, LIV outsources services like video production, data collection, merchandising, tournament food and beverage operations, among others. Front Office Sports spoke with several such people and verified their current or former affiliation with LIV; they were granted anonymity for this story in order to preserve their identity as they continue working for LIV or continue their efforts to get paid.
The amounts owed to individuals by LIV range from several thousand dollars to nearly $100,000, according to the people who spoke with FOS, some of whom have worked with LIV since its first event in 2022. Other contractors and vendors that have so far stayed quiet could be owed even more, those people say.
#like #contractors #vendors #they 're
3 months ago
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter.
Outreach to small businesses looking to bid on public jobs has only gotten easier, says Teresa Maxwell.
The DBE compliance officer for Skanska Civil's West region got her start as a receptionist, when paper and snail mail was the common practice for contacting potential subcontractors.
Now, Maxwell says the systems Skanska has in place for its in-house diverse business enterprise outreach program — not to be confused with the Department of Transportation's Disadvantaged Business Enterprise program — better enabled it to hit small business contracting goals on a $380 million Los Angeles International Airport project.
Here, Maxwell talks with Construction Dive about hitting goals on the Los Angeles World Airports Roadways, Utilities and Enabling job, the state of small business outreach and the impact of evolving federal certifications.
#maxwell #outreach #angeles #daily
Outreach to small businesses looking to bid on public jobs has only gotten easier, says Teresa Maxwell.
The DBE compliance officer for Skanska Civil's West region got her start as a receptionist, when paper and snail mail was the common practice for contacting potential subcontractors.
Now, Maxwell says the systems Skanska has in place for its in-house diverse business enterprise outreach program — not to be confused with the Department of Transportation's Disadvantaged Business Enterprise program — better enabled it to hit small business contracting goals on a $380 million Los Angeles International Airport project.
Here, Maxwell talks with Construction Dive about hitting goals on the Los Angeles World Airports Roadways, Utilities and Enabling job, the state of small business outreach and the impact of evolving federal certifications.
#maxwell #outreach #angeles #daily
3 months ago
Our **** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Achieved record revenue and EBITDA by leveraging a business model where profitability increases as programs mature and upfront onboarding costs are spread across a larger recurring revenue base.
Operational efficiency improved through the consolidation of European logistics into a Romanian hub and bringing IT and customer support responsibilities in-house from subcontractors.
The U.S. market is delivering higher margins due to a centralized cloud-based infrastructure and a standardized operating model compared to more complex, decentralized European national programs.
Success in displacing long-term incumbents of 20 to 25 years in Nordic markets validates the technical superiority and reliability of the proprietary Pure Security platform.
#ebitda #operational
Achieved record revenue and EBITDA by leveraging a business model where profitability increases as programs mature and upfront onboarding costs are spread across a larger recurring revenue base.
Operational efficiency improved through the consolidation of European logistics into a Romanian hub and bringing IT and customer support responsibilities in-house from subcontractors.
The U.S. market is delivering higher margins due to a centralized cloud-based infrastructure and a standardized operating model compared to more complex, decentralized European national programs.
Success in displacing long-term incumbents of 20 to 25 years in Nordic markets validates the technical superiority and reliability of the proprietary Pure Security platform.
#ebitda #operational
3 months ago
Aecom (NYSE: ACM) is an engineering and consulting giant that designs highways, transit lines, and water systems, and then manages the contractors who actually build them.
This week showed investors how important that distinction is as someone else's work hurt Aecom, sending its shares down 17.9% to a 52-week low of $60.35 as of Friday noon, according to data provided by S&P Global Market Intelligence.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Aecom reported a net loss of $0.65 per share for its third quarter of fiscal year 2026 this week versus net earnings per share (EPS) of $1.32 in the year-ago quarter.
Back in 2019, Aecom signed on to manage a construction project under terms and conditions that would not meet its current risk policies. Subcontractors are running behind, and costs are exceeding estimates, resulting in a $377 million pre-tax loss for Aecom in Q3.
#signal #down #loss #quarter
This week showed investors how important that distinction is as someone else's work hurt Aecom, sending its shares down 17.9% to a 52-week low of $60.35 as of Friday noon, according to data provided by S&P Global Market Intelligence.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Aecom reported a net loss of $0.65 per share for its third quarter of fiscal year 2026 this week versus net earnings per share (EPS) of $1.32 in the year-ago quarter.
Back in 2019, Aecom signed on to manage a construction project under terms and conditions that would not meet its current risk policies. Subcontractors are running behind, and costs are exceeding estimates, resulting in a $377 million pre-tax loss for Aecom in Q3.
#signal #down #loss #quarter
3 months ago
Trump's 100% drone tariff proclamation drove UMAC up 22% and RCAT up 8%, rewarding companies competing directly against now-heavily-taxed imported parts.
AVAV and KTOS gained just 1-2% on identical news, since established Pentagon contractors face less import competition and gain little from the tariffs.
UMAC had already surged 114% year to date before Friday's spike, raising the valuation bar for investors chasing the tariff-driven rally.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Red Cat Holdings didn't make the cut. Grab the names FREE today.
Unusual Machines (NYSE:UMAC) stock is soaring 22% to $33.24 midday Friday, leading a scattered rally in domestic drone names. The catalyst was President Trump signing a proclamation Thursday imposing tariffs on imported drones and unmanned aircraft parts, citing national security.
#drone #rcat
AVAV and KTOS gained just 1-2% on identical news, since established Pentagon contractors face less import competition and gain little from the tariffs.
UMAC had already surged 114% year to date before Friday's spike, raising the valuation bar for investors chasing the tariff-driven rally.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Red Cat Holdings didn't make the cut. Grab the names FREE today.
Unusual Machines (NYSE:UMAC) stock is soaring 22% to $33.24 midday Friday, leading a scattered rally in domestic drone names. The catalyst was President Trump signing a proclamation Thursday imposing tariffs on imported drones and unmanned aircraft parts, citing national security.
#drone #rcat
3 months ago
Bechtel has taken over management of the site designated for Poland's first nuclear power plant, as the project shifts from design and planning to large-scale site preparation and construction.
The transition from Polskie Elektrownie Jądrowe (PEJ) to the US-based engineering company coincides with the start of earthworks at the Choczewo site, marking a key development in Poland's long-term energy strategy.
Bechtel will now oversee construction operations, coordinate contractors, supervise activity on site and ensure safety standards throughout the project.
According to the company, more than 400 people are currently involved in the initial site works, with about one-third of the workforce recruited locally in Poland. This number is expected to increase as preparations progress.
Bechtel project director Ed Gore said: "As we ****** ume responsibility for the site and begin the first permanent plant work, with the initial earthworks contract, we are focused on safely advancing the project, working closely with our Polish partners, and creating the platform for the next phase of work that will ultimately deliver a new source of reliable, carbon-free energy for Poland."
#bechtel #plant #energy
The transition from Polskie Elektrownie Jądrowe (PEJ) to the US-based engineering company coincides with the start of earthworks at the Choczewo site, marking a key development in Poland's long-term energy strategy.
Bechtel will now oversee construction operations, coordinate contractors, supervise activity on site and ensure safety standards throughout the project.
According to the company, more than 400 people are currently involved in the initial site works, with about one-third of the workforce recruited locally in Poland. This number is expected to increase as preparations progress.
Bechtel project director Ed Gore said: "As we ****** ume responsibility for the site and begin the first permanent plant work, with the initial earthworks contract, we are focused on safely advancing the project, working closely with our Polish partners, and creating the platform for the next phase of work that will ultimately deliver a new source of reliable, carbon-free energy for Poland."
#bechtel #plant #energy
3 months ago
A judge approved a $106 million settlement Thursday that ends a yearslong legal battle over the deadly 2019 collapse of a Hard Rock Hotel that was under construction in New Orleans.
The 18-story hotel project partially collapsed in October 2019, killing three people and damaging nearby property. A grand jury ultimately decided against indicting anyone in the deadly collapse, but lawsuits were filed, including one brought by the City of New Orleans in August 2020 naming the building owners, their partners and contractors.
The various lawsuits were consolidated into one case that includes a total of 490 plaintiffs, such as injured workers and businesses affected by the collapse, against 21 defendants, according to Mark Glago, co-lead counsel for the plaintiffs. The case has been pending for more than six years, Glago noted.
The combined $106 million settlement was approved by Orleans Parish Civil District Court Judge Kern Reese on Thursday, according to Glago and Court records.
"This will be an honor to, you know, these claimants that have been through so much," Glago said of the settlement. "We are very, very happy with this $106 million."
#glago #thursday #court #hotel
The 18-story hotel project partially collapsed in October 2019, killing three people and damaging nearby property. A grand jury ultimately decided against indicting anyone in the deadly collapse, but lawsuits were filed, including one brought by the City of New Orleans in August 2020 naming the building owners, their partners and contractors.
The various lawsuits were consolidated into one case that includes a total of 490 plaintiffs, such as injured workers and businesses affected by the collapse, against 21 defendants, according to Mark Glago, co-lead counsel for the plaintiffs. The case has been pending for more than six years, Glago noted.
The combined $106 million settlement was approved by Orleans Parish Civil District Court Judge Kern Reese on Thursday, according to Glago and Court records.
"This will be an honor to, you know, these claimants that have been through so much," Glago said of the settlement. "We are very, very happy with this $106 million."
#glago #thursday #court #hotel
