The Builder's Bible

Industry leader reports fourth quarter growth

2012-01-27T06:58:00.000-08:00

Construction and mining equipment supplier Caterpillar Inc. reported a 60 per cent increase in fourth quarter profits compared to last year, according to a story from the Associated Press.

The increase in profitability is attributed to a demand for new products and growth in developing countries.

The news came as a surprise to Wall Street financial experts who predicted much lower profits due to the economic crisis and political strife in Europe. Caterpillar is cautious of the situation in Europe but believes it won't affect sales.

"It just depends on how much longer the chaos in southern Europe goes on," said Edward Rapp Caterpillar chief financial officer said in a statement. "It's been going on a long time and hasn't tanked the place yet. We don't think it will."

Caterpillar's sales were $1.55 billion and $2.32 a share, up from $968 million and $1.47 per share compared to the same quarter last year.

The story here.

Water, water, everywhere and finally a drop to drink.

2012-01-19T20:29:00.000-08:00

As the city of Nanaimo,British Columbia expands, the demand for clean drinking water grows. Thus, the city will begin construction a new reservoir that will supply a third of the
residents with fresh water in late 2014, according to a story on canada.com.

The $11.2 million dollar
facility will also have hydroelectric power generating capabilities. This
allows the reservoir to recoup some of the construction costs by selling power
back to B.C Hydro.

"It's becoming more and more expensive to provide water - the filtration plant is in excess of $60 million and it does even begin to address the issue of water volume," said
Nanaimo Mayor John Ruttan in a statement. "Water has become the new liquid gold, really."

Approximately $7.7 million dollars of the projects costs will come from Canada’s Gas Tax Fund, the remainder will be supplied by Nanaimo’s resources.

To view the story in full click here.