KYIV — The Kerch bridge in Crimea was partially destroyed by an explosion Saturday morning, in a strategic and symbolic blow to Russian President Vladimir Putin and his campaign against Ukraine.
The damage to the bridge, which comes as Ukrainian advances continue to reclaim occupied territories from Moscow’s forces, endangers a crucial route for Russian military supplies to support its forces in southern Ukraine.
Two spans of the road portion of the bridge collapsed as a result of “an accident,” according to Sergei Aksyonov, the Russia-installed head of the Crimea administration. “Fuel tanks have also caught fire,” Aksyonov said in a post on social media.
Russia’s National Anti-Terrorist Committee said that a truck was blown up on the bridge, according to Russian media. As a result of the blast, “a partial collapse” of two spans occurred, it said. Russia’s Investigative Committee said three people were killed in the explosion, according to media reports.
According to videos and photos posted Saturday morning by eyewitnesses, several fuel tankers were on fire on the rail part of the bridge, while at least one road span had partially collapsed into the waters of the Kerch Strait, which connects the Black Sea and the Sea of Azov.
“As soon as the fire is extinguished, it will be possible to assess damage to the bridge and pillars, and it will be possible to talk about the timing of the restoration of traffic,” Aksyonov said.
The head of the Russian-installed regional parliament in Crimea, Vladimir Konstantinov, blamed the damage to the bridge on “Ukrainian vandals,” according to Russian media.
Kyiv hasn’t claim responsibility for the damage to the bridge, but Ukrainian officials celebrated the blast on social media. Referring to a flagship Russian vessel sunk by Kyiv earlier this year, Ukraine’s Ministry of Defense tweeted: “The guided missile cruiser Moskva and the Kerch Bridge – two notorious symbols of Russian power in Ukrainian Crimea – have gone down. What’s next in line, russkies?”
The Kerch bridge, which connects Crimea with the Russian mainland, was opened personally by Putin with much fanfare in 2018, after Moscow seized the peninsula from Ukraine in 2014. The construction of the bridge was slammed by both Kyiv and its Western backers as illegal at the time.
Since the start of the Kremlin’s war on Ukraine in late February, the bridge has been crucially important for the transfer of manpower, weapons and fuel to Russian units fighting Ukrainian troops in southern Ukraine.
Putin on Saturday ordered a government commission to investigate “the emergency on the Crimean bridge” and officials have been dispatched to the scene, Russian media reported, citing Kremlin spokesman Dmitry Peskov.
Crimea, the bridge, the beginning. Everything illegal must be destroyed, everything stolen must be returned to Ukraine, everything occupied by Russia must be expelled. pic.twitter.com/yUiSwOLlDP
According to Aksyonov, ferry service will start operating on Saturday in place of the damaged bridge.
Over the past months, Ukrainian officials have repeatedly declared Kyiv’s plans to target the Crimea bridge. In April, Oleksiy Danilov, secretary of the National Security and Defense Council, said in a radio interview that the bridge will “definitely” be hit, if Kyiv gets an opportunity. Kremlin spokesman Dmitry Peskov branded Danilov’s statement as “announcing a possible terrorist attack.”
After the partial collapse of the Kerch bridge Saturday morning, Mykhailo Podolyak, an adviser to Ukrainian President Volodymyr Zelenskyy’s office, said in a tweet that “everything illegal must be destroyed, everything stolen must be returned to Ukraine, everything occupied by Russia must be expelled.”
Zelenskyy, in an address Friday night, said Ukraine has taken back more than 2,400 square kilometers of its territory occupied by Russia. “This week alone, our soldiers liberated 776 square kilometers of territory in the east of our country and 29 settlements,” Zelenskyy said.
Green Ideas Building Science Consultants has provided industry-leading services to develop sustainable, high-performance building projects for two decades.
Press Release –
Oct 6, 2022
PHOENIX, October 6, 2022 (Newswire.com)
– October 2022 marks Green Ideas Building Science Consultants‘ 20th year of helping businesses, universities and Architecture-Engineering-Construction professionals create resource-efficient projects with minimal environmental impact and maximum return on investment.
Charlie Popeck, President of Green Ideas and one of the first Leadership in Energy and Environmental Design (LEED) Accredited Professionals in the United States, founded the Arizona Chapter of the U.S. Green Building Council (USGBC) in 2002, which was the second-ever chapter of the national non-profit organization. Charlie has personally trained more than 40,000 industry professionals to pass the LEED Professional Accreditation exams over the last 20 years.
After two decades of performing building science consultation, the company has completed over 150 high-performance building projects, including 110 LEED-certified projects throughout the country. From the iconic Phoenix Convention Center in Arizona (LEED Silver) to the BASF Near-Zero Energy Home in New Jersey (LEED Platinum), Green Ideas maintains its business approach to high-performance building design, construction, and operations. Other notable projects include the Intel Ocotillo Campus, one of the most complicated manufacturing facilities on earth, and the General Dynamics Roosevelt and Hayden facilities, the largest LEED-certified industrial projects in the U.S. at the time of its certification. A complete list of Green Ideas’ projects can be found here.
Since its inception in 2002, Green Ideas has worked closely with many building owners and developers to save massive amounts of energy and water. Upon reaching the company’s 20th-year milestone, Charlie stated, “We’ve had some challenges transforming the commercial real estate market over the years but I’m proud of the energy and water savings we have achieved, as well as creating healthy indoor environments for building occupants…all while saving clients operating and maintenance costs.”
About Green Ideas® Building Science Consultants Green Ideas is a full-service building science consulting firm offering 3D energy and daylight modeling, building commissioning, and world-class LEED certification services. The firm is designated as a LEED Proven Provider by Green Business Certification Inc. and is a certified B Corporation. Its clients are building owners, architects, engineers, contractors, real estate developers, facility managers, and corporate entities wishing to establish business advantages through high-performance building practices. With a vision as bold as the results they achieve, Green Ideas is dedicated to transforming the market by promoting building science through a “triple bottom line” approach to business operations. Follow Green Ideas on Linkedin for more up-to-date information and latest projects.
When the stock market has jumped two days in a row, as it has now, it is easy to become complacent.
But the Federal Reserve isn’t finished raising interest rates, and recession talk abounds. Stock investors aren’t out of the woods yet. That can make dividend stocks attractive if the yields are high and the companies produce more cash flow than they need to cover the payouts.
Below is a list of 21 stocks drawn from the S&P Composite 1500 Index SP1500, +3.12%
that appear to fit the bill. The S&P Composite 1500 is made up of the S&P 500 SPX, +3.06%,
the S&P 400 Mid Cap Index MID, +3.18%
and the S&P Small Cap 600 Index SML, +3.80%.
The purpose of the list is to provide a starting point for further research. These stocks may be appropriate for you if you are looking for income, but you should do your own assessment to form your own opinion about a company’s ability to remain competitive over the next decade.
Cash flow is key
One way to measure a company’s ability to pay dividends is to look at its free cash flow yield. Free cash flow is remaining cash flow after planned capital expenditures. This money can be used to pay for dividends, buy back shares (which can raise earnings and cash flow per share), or fund acquisitions, organic expansion or for other corporate purposes.
If we divide a company’s estimated annual free cash flow per share by its current share price, we have its estimated free cash flow yield. If we compare the free cash flow yield to the current dividend yield, we may see “headroom” for cash to be deployed in ways that can benefit shareholders.
For this screen, we began with the S&P Composite 1500, then narrowed the list as follows:
Dividend yield of at least 5.00%.
Consensus free cash flow estimate available for calendar 2023, among at least five analysts polled by FactSet. We used calendar-year estimates, even though fiscal years for many companies don’t match the calendar.
Estimated 2023 free cash flow yield of at least double the current dividend yield.
For real-estate investment trusts, dividend-paying ability is measured by funds from operations (FFO), a non-GAAP figure that adds depreciation and amortization back to earnings. Adjusted funds from operations (AFFO) takes this a step further, subtracting cash expected to be used to maintain properties. So for the two REITs on the list, the FCF yield column makes use of AFFO.
For many companies in the financial sector, especially banks and insurers, free cash flow figures aren’t available, so the screen made use of earnings-per-share estimates. These are generally considered to run close to actual cash flow for these heavily regulated industries.
Here are the 21 companies that passed the screen, with dividend yields of at least 5% and estimated 2023 FCF yields at least twice the current payout. They are sorted by dividend yield:
Any stock screen has its limitations. If you are interested in stocks listed here, it is best to do your own research, and it is easy to get started by clicking the tickers in the table for more information about each company. Click here for Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
For the “estimated FCF yields,” consensus free cash flow estimates for calendar 2023 were used for all companies except the following:
For the REITs, (Uniti Group Inc. UNIT, +7.36%
and Macerich Co. MAC, +8.18%
), consensus AFFO estimates were used.
Consensus EPS estimates were used for Prudential Financial Inc. PRU, +5.66%,
Invesco Ltd. IVZ, +6.76%
and Franklin Resources Inc. BEN, +4.37%.
Stocks declined again on Friday, closing out September with large losses across the board as the rally from the June lows partway through August faded into memory.
The S&P 500 SPX, -1.51%
fell 1.5% on Friday. The benchmark index slumped 9.3% for September, leading to a 2022 loss of 24.8%. The Dow Jones Industrial Average DJIA, -1.71%
gave up 1.7% on Friday, for a September decline of 8.8%. The Dow has now fallen 20.9% for 2022. The Nasdaq Composite Index COMP, -1.51%
pulled back 1.5% on Friday for a September drop of 10.5% and a year-to-date plunge of 32.4%. (All price changes in this article exclude dividends.)
Below is a list of stocks in the S&P 500 that fell the most during September.
Nike Inc. NKE, -12.81%
was down 13% on Friday for a September decline of 22%, after the company warned that discounting to clear inventory would continue to affect its earnings performance. Here’s how analysts reacted.
Most financial planners advise young people to start saving early — and often — for retirement so they can take advantage of the so-called eighth wonder of the world – the power of compound interest.
And many advisers routinely urge those entering the workforce to contribute to their 401(k), especially when their employer is matching some portion of the amount the worker is contributing. The matching contribution is – essentially – free money.
New research, however, indicates that many young people should not save for retirement.
The reason has to do with something called the life-cycle model, which suggests that rational individuals allocate resources over their lifetimes with the aim of avoiding sharp changes in their standard of living.
Put another way, individuals, according to the model which dates back to economists Franco Modigliani, a Nobel Prize winner, and Richard Brumberg in the early 1950s, seek to smooth what economists call their consumption, or what normal people call their spending.
According to the model, young workers with low income dissave; middle-aged workers save a lot; and retirees spend down their savings.
Source: Bogleheads.org
The just-published research examines the life-cycle model even further by looking at high- and low-income workers, as well as whether young workers should be automatically enrolled in 401(k) plans. What the researchers found is this:
1. High-income workers tend to experience wage growth over their careers. And that’s the primary reason why they should wait to save. “For these workers, maintaining as steady a standard of living as possible therefore requires spending all income while young and only starting to save for retirement during middle age,” wrote Jason Scott, the managing director of J.S. Retirement Consulting; John Shoven, an economics professor at Stanford University; Sita Slavov, a public policy professor at George Mason University; and John Watson, a lecturer in management at the Stanford Graduate School of Business.
2. Low-income workers, whose wage profiles tend to be flatter, receive high Social Security replacement rates, making optimal saving rates very low.
Middle-aged workers will need to save more later
In an interview, Scott discussed what some might view as a contrary-to-conventional wisdom approach to saving for retirement.
Why does one save for retirement? In essence, Scott said, it’s because you want to have the same standard of living when you’re not working as you did while you were working.
“The economic model would suggest ‘Hey, it’s not smart to live really high in the years when you’re working and really low when you’re retired,’” he said. “And so, you try to smooth that out. You want to save when you have relatively high income to support yourself when you have relatively low income. That’s really the core of the life-cycle model.”
But why would you spend all your income when you’re young and not save?
“In the life-cycle model, we are assuming you are getting the absolute most happiness you can out of income each year,” said Scott. “In other words, you are doing your best at age 25 with $25,000, and there is no way to live ‘cheaply’ and do better,” he said. “We also assume a given amount of money is more valuable to you when you are poor compared to when you are wealthy.” (Meaning $1,000 means a lot more at 25 than at 45.)
Scott also said that young workers might also consider securing a mortgage to buy a house rather than save for retirement. The reasons? You’re borrowing against future earnings to help that consumption, plus, you’re building equity that could be used to fund future consumption, he said.
Are young workers squandering the advantage of time?
Many institutions and advisers recommend just the opposite of what the life-cycle model suggests. They recommend that workers should have a certain amount of their salary salted away for retirement at certain ages in order to fund their desired standard of living in retirement. T. Rowe Price, for instance, suggests that a 30-year-old should have half their salary saved for retirement; a 40-year-old should have 1.5 times to 2 times their salary saved; a 50-year-old should have 3 times to 5.5 times their salary saved; and a 65-year-old should have 7 times to 13.5 times their salary saved.
Scott doesn’t disagree that workers should have savings benchmarks as a multiple of income. But he said a high-income worker who waits until middle age to save for retirement can easily reach the later-age benchmarks. “Savings for retirement probably is more in the zero range until 35 or so,” Scott said. “And then it is probably faster after that because you want to accumulate the same amount.”
Plus, he noted, the home equity a worker has could count toward the savings benchmark as well.
So, what about all the experts who say young people are best positioned to save because they have such a long timeline? Aren’t young workers just squandering that advantage?
Not necessarily, said Scott.
“First: saving earns interest, so you have more in the future,” he said. “However, in economics, we assume that people prefer money today compared to money in the future. Sometimes this is called a time discount. These effects offset each other, so it depends on the situation as to which is more significant. Given interest rates are so low, we generally think time discounts exceed interest rates.”
And second, Scott said, “early saving could have a benefit from the power of compounding, but the power of compounding is certainly irrelevant when after-inflation interest rates are 0% – as they have been for years.”
In essence, Scott said, the current environment makes a front-loaded lifetime spending profile optimal.
Low-income workers don’t need to save either
As for those with low income, say in the 25th percentile, Scott said it’s less about the “income ramp that really moves saving” and more that Social Security is extremely progressive; it replaces a large percentage of one’s preretirement income. “The natural need to save is not there when Social Security replaces 70, 80, 90% (of one’s preretirement income),” he said.
In essence, the more Social Security replaces of your preretirement income, the less you’ll need to save. The Social Security Administration and others are currently researching what percent of preretirement income Social Security replaces by income quintile, but previously published research from 2014 shows that Social Security represented nearly 84% of the lowest income quintile’s family income in retirement while it only represented about 16% of the highest income quintile’s family income in retirement.
Source: Social Security Administration
Is it worth auto-enrolling young workers in a 401(k) plan?
Scott and his co-authors also show that the “welfare costs” of automatically enrolling younger workers in defined-contribution plans—if they are passive savers who do not opt-out immediately—can be substantial, even with employer matching. “If saving is suboptimal, saving by default creates welfare costs; you’re doing the wrong thing for this population,” he said.
Welfare costs, according to Scott, are the costs of taking an action compared to the best possible action. “For example, suppose you wanted to go to restaurant A, but you were forced to go to restaurant B,” he said. “You would have suffered a welfare loss.”
In fact, Scott said young workers who are automatically enrolled into their 401(k) might consider when they’re in their early 30s taking the money out of their retirement plan, paying whatever penalty and taxes they might incur, and use the money to improve their standard of living.
“It’s optimal for them to take the money and use it to improve their spending,” said Scott. “It would be better if there weren’t penalties.”
Why is this so? “If I didn’t understand that I was being defaulted into a 401(k) plan, and I didn’t want to save, then I suffered a welfare loss,” said Scott. “We assume people figure out after five years that they were defaulted. At that point, they want their money out of the 401(k), and they are optimally willing to pay the 10% penalty to get their money out.”
Scott and his colleagues assessed welfare costs by figuring out how much they have to compensate young workers at that five-year point so that they are OK with having been inappropriately forced to save. Of course, the welfare costs would be lower if they didn’t have to pay the penalty to cash out their 401(k).
And what about workers who are automatically enrolled in a 401(k)? Are they not creating a savings habit?
Not necessarily. “The person who is confused and defaulted doesn’t really know it’s happening,” said Scott. “Maybe they’re getting a savings habit. They’re certainly living without the money.”
Scott also addressed the notion of giving up free money – the employer match — by not saving for retirement in an employer-sponsored retirement plan. For young workers, he said the match isn’t enough to overcome the cost of, say, five years of below-optimal spending. “If you think it’s for retirement, the match-improved benefit in retirement doesn’t overcome the cost of losing money when you’re poor,” said Scott. “I’m simply noting that if you are not consciously making the choice to save, it is hard to argue you are making a saving habit. You did figure out how to live on less, but in this case, you did not want to, nor do you intend to continue saving.”
The research raises questions and risks that must be addressed
There are plenty of questions the research raises. For instance, many experts say it’s a good idea to get in the habit of saving, to pay yourself first. Scott doesn’t disagree. For instance, a person might save to build an emergency fund or a down payment on a house.
As for the folks who might say you’re losing the power of compounding, Scott had this to say: “I think the power of compounding is challenged when real interest rates are 0%.” Of course, one could earn more than 0% real interest but that would mean taking on additional risk.
“The principle is about, ‘Should you save when you are relatively poor so you can have more when you are relatively rich?’ The life-cycle model says, ‘No way.’ This is independent of how you invest money between time periods,” Scott said. “For investing, our model does look at riskless interest rates. We argue that investment expected returns and risks are in equilibrium, so the core result is unlikely to change by introducing risky investments. However, it is definitely a limitation of our approach.”
Scott agreed there are risks to be acknowledged, as well. It’s possible, for instance, that Social Security, because of cuts to benefits, might not replace a low-income worker’s preretirement salary as much as it does now. And it’s possible that a worker might not experience high wage growth. What about people having to buy into the life-cycle model?
“You don’t have to buy into all of it,” said Scott. “You have to buy into this notion: You want to save when you’re relatively rich in order to spend when you’re relatively poor.”
So, isn’t this a big assumption to make about people’s career/pay trajectory?
“We consider relatively rich wage profiles and relatively poor wage profiles,” said Scott. “Both suggest young people should not save for retirement. I think the vast majority of median wage or higher workers experience a wage increase over their first 20 years of working. However, there is certainly risk in wages. I think you could rightly argue that young people might want to save some as a precaution against unexpected wage declines. However, this would not be saving for retirement.”
So, should you wait to save for retirement until you’re in your mid-30s? Well, if you subscribe to the life-cycle model, sure, why not? But if you subscribe to conventional wisdom, know that consumption might be lower in your younger years than it needs to be.
Jack Kulka, the outspoken Long Island construction industry leader and founding member of the Hauppauge Industrial Association, has died at the age of 79.
The only child of immigrant parents, Kulka grew up in the Bronx and received full scholarships to attend Bronx High School of Science and New York University, where he earned a Bachelor of Science degree in electrical engineering and subsequently became a professional engineer.
At age 34, Kulka founded Kulka Construction Corp., now known as The Kulka Group, and pioneered construction management on Long Island. He was the only non-lawyer involved with creating the Construction Management Association of America contractual documents and quickly became recognized for giving clients quality building at a lower cost.
In his 39 years of leading the company, Kulka was responsible for the construction of more than 22 million square feet of commercial projects across the New York metropolitan area and south Florida.
“Not only were we interested in building the most economical projects for our clients, but we wanted to make sure it was of the highest quality and met very stringent scheduling requirements,” Kulka said in a 2018 interview. “Our clients not only got the best job for the money, but they got the best possible job that could be done that adhered to code. Contractors working for us had to adhere to the strictest construction and quality standards. Clients got a superior project at an exceptional price.”
When his health began failing, Kulka handed over the reins of the company to his son Devin in 2017.
“My father was a visionary businessman and a strong advocate for Long Island and the working people who make it what it is. He helped shape the Long Island landscape forever,” Devin Kulka, CEO of The Kulka Group, said in a written statement. “His legacy is his large, blended family, the business he created and the friendships he made throughout his life. We thank everyone for their well wishes at this challenging time for our family.”
Jack Kulka was a member of the New York’s State Society of Professional Engineers and served on numerous organizational governing and advisory boards including the Touro Law Center, the Metropolitan New York Chapter of the Jewish Institute for National Security Affairs, the Bi-County Political Action Committee, the Long Island Holocaust Committee and the Hauppauge Industrial Association.
Kulka also held leadership positions with several organizations, including the Commack Jewish Center, the Long Island Israeli Bond Campaign, United Way of Long Island, Suffolk County Crimestoppers, American Cancer Society, St. Johns Episcopal Hospital and Hauppauge Educational Foundation. Kulka was also a past president and founder of the Suffolk Y Jewish Community Center, and the Farmingdale College Foundation.
Terri Alessi-Miceli, president and CEO of HIA-LI, of which Kulka was a founding member, called him a driving force.
“He had a passion and vision for building in the Long Island Innovation Park at Hauppauge and helped the organization lead a group of business professionals to get them what they needed when they needed it to help their businesses thrive,” Alessi-Miceli said. “He was relentless about everything he did and showed us what real tenacity looked like. I was fortunate enough to have worked alongside him and he showed me that if you bring the right people together for the right reasons anything can get accomplished. I felt privileged to work and learn from him. We are forever grateful.”
Services in Kulka’s honor will be held at 9:45 a.m. on Sunday, Oct. 2 at the Star of David Memorial Chapel and a burial service will follow directly after.
The family will be sitting shiva at 16 Wyandanch Blvd. in Smithtown, and they’ve requested that shiva visits be limited to Sunday after the service; 5 p.m. to 8 p.m. on Monday, Oct. 3; and 9 a.m. to noon on Tuesday, Oct. 4.
Donations in Kulka’s honor are much appreciated and requested to be made to one or more of the following organizations: Chabad of Mid Suffolk, Suffolk Y JCC, Hauppauge Industrial Association Scholarship Fund, Suffolk County Crimestoppers, Family & Children’s Association of Long Island and Long Island Home Builders Care.
The numbers: Mortgage rates continue to march towards 7%, continuing to pressure potential homeowners looking to buy a home.
The 30-year fixed-rate mortgage averaged 6.7% as of Sept. 29, according to data released by Freddie Mac FMCC, +0.75%
on Thursday.
Mortgage rates are up as the Federal Reserve pushed key interest rates up to deal with the worst inflation the country has seen in 40 years.
That’s up 41 basis points from the previous week — one basis point is equal to one hundredth of a percentage point, or 1% of 1%.
The rise in rates is bad news for prospective buyers, as it potentially adds hundreds of dollars to their mortgage payments.
Mortgage rates are now at highs last seen since mid-2007. To put the latest rate in perspective: A year ago, the 30-year was at 3.01%.
“Mortgage rates are now at highs last seen since mid-2007. To put the latest rate in perspective: A year ago, the 30-year was at 3.01%.”
Bloomberg’s chief economist Michael McDonough said a $2,500 monthly mortgage payment — with 20% down — would have gotten a buyer a $758,000 home last year.
This year? You’d get a lot less house — with $2,500 per month, you’d only be able to afford a $476,000 home, he wrote on Twitter TWTR, -1.12%.
The median price of an existing home in the U.S. was $389,500 in August, down from $403,800 the previous month, the National Association of Realtors said.
The average rate on the 15-year mortgage also rose over the past week to 5.96%. The adjustable-rate mortgage averaged 5.3%, up from the prior week.
“The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” Sam Khater, chief economist at Freddie Mac, said in a statement.
Khater added that Freddie Mac’s survey of lenders revealed a large dispersion in rates, so home buyers should shop around with lenders to find a good quote.
Mortgage applications also fell in the latest week, as cautious buyers continue to pull back as rates march towards 7%.
The yield on the 10-year Treasury note TMUBMUSD10Y, 3.784%
rose slightly above 3.8% in morning trading on Thursday.
Got thoughts on the housing market? Write to MarketWatch reporter Aarthi Swaminathan at aarthi@marketwatch.com
The experienced marketer and business leader looks forward to using his expertise to help grow NAHICA.
Press Release –
Aug 29, 2022
HOUSTON, August 29, 2022 (Newswire.com)
– The National Hispanic Contractors Association (NAHICA) is proud to announce the appointment of its new president, Sergio Terreros.
Terreros is an experienced marketer and business leader whose experience spans marketing plan development, market research, media buying, advertising, social media advising, business relations, media analysis, and all other areas of marketing and advertising.
He is the current President of the Hispanic advertising agency 11/11 Media. Terreros is excited to take his years of experience in advertising, marketing, and leading teams of Hispanic marketers to NAHICA, where he hopes to grow the organization and establish Hispanic Contractors as the preferred partner choice in all industries.
“Excited for this new role in my professional career and loving this new responsibility; the construction industry needs a well-informed and prepared contractor, and that’s one of my priorities and goals in this new role: develop strategic partners and create opportunities for the community we represent.” – Sergio Terreros
During his time at 11/11 Media, Terreros has played a vital role in organizing the only and exclusive Hispanic Construction Expo in Texas, ExpoContratista, which hosts thousands of contractors, exhibitors, and partners every year in Houston and Dallas.
Terreros graduated from Universidad Autónoma de Nuevo León in 2003 with a degree in Marketing, Communications, and Media Studies. He has also attended various leadership institutes and received a Leading a Marketing Team certification from LinkedIn in 2019.
NAHICA’s members include both established business owners and new entrepreneurs. The organization is proud to be the largest reference of Hispanic culture in the construction area by connecting contractors and builders through its expansive networks and events like ExpoContratista.
To learn more about The National Hispanic Contractors Association, please visit https://nahica.org.
###
About the National Hispanic Contractors Association
The National Hispanic Contractors Association (NAHICA) aims to firmly establish Hispanic Contractors as a preferred partner choice in all industries for manufacturers, residential, and commercial builders by helping the Latin construction community connect, grow, and have adequate resources to gain support from established businesses. The organization is focused on opening opportunities for growth for subcontractors in the construction industry.
HOUSTON, August 29, 2022 (Newswire.com)
– The National Hispanic Contractors Association (NAHICA) is excited to announce high-performance coated abrasives manufacturer Fandeli has joined the association.
“As a proudly Mexican company, we are excited to be taking on this new challenge and making a difference in all Hispanic contractor markets in the USA,” said Enrique Telles, Marketing Director of Fandeli.
This new partnership also marks Fandeli’s arrival to the U.S. market after serving customers in Mexico and around the world since 1927.
“For over 95 years, we have been the only producer of coated abrasives in Mexico, and we are so excited to bring our expertise to our American neighbors. We look forward to the relationships that being a part of NAHICA will help us form as we get to know our new community,” said Enrique Telles – Fandeli.
Fandeli’s storied history and global distribution network have provided more than 15,000 coated & bonded abrasive products to different market niches, including the aeronautical, textile, automotive, glass, construction, wood, metals, plastics, and flooring industries.
The National Hispanic Contractors Association is a Houston-based organization that works to establish Hispanic contractors as the preferred partner of choice in all industries for manufacturers, residential, and commercial builders.
NAHICA provides the following services to its partners:
A website to access current construction projects.
Access to NAHICA’s extensive network of contacts and job listings.
Events and conferences to allow established and growing contractors to discover significant commercial, industrial, residential, and engineering projects while networking with leading companies.
Training workshops and classes to teach the latest innovations in construction.
Discounts on professional services and materials, including financial, legal, and marketing, certifications, and building materials.
To learn more about The National Hispanic Contractors Association, please visit https://nahica.org.
About the National Hispanic Contractors Association
The National Hispanic Contractors Association (NAHICA) aims to firmly establish Hispanic Contractors as a preferred partner choice in all industries for manufacturers, residential, and commercial builders by helping the Latin construction community connect, grow, and have adequate resources to gain support from established businesses. The organization is focused on opening opportunities for growth for subcontractors in the construction industry.
About Fandeli
We are a family business, originally from Mexico, with sales offices and a warehouse in Houston since 1987, with a global presence in more than 30 countries and many manufacturing industries. We have the most extensive coverage in Hardware, Home Centers, Self Service, and specialized Retail Stores industries such as automotive and paint stores. At Fandeli, our priority is to ensure your total satisfaction in the use and application of our products. We always offer you the best quality sandpaper and abrasive products, as well as continuous customer service and technical support.
To learn more about Fandeli, please visit https://fandeli.com, and check out the Special Program for all contractors in the USA.
Money manager Matt Patsky stood at the window of his hotel on the Portuguese island of São Miguel in March last year, looking out over the Atlantic, and thought: I’m not sure we can retire here after all.
He told his husband, “I don’t know [if] we could live here. It looks like the people are crazy. There are people going in the water, swimming in the ocean. How crazy do you have to be to go swimming in the Atlantic in March?”
Patsky, 56, mentioned this to a local real-estate agent later that day. The man didn’t understand the issue. The water, he said, was probably no cooler than 65 degrees.
How these Americans save money in retirement: They live in Spain
As Boston-based Patsky adds: In New England you’re lucky if the water gets that warm in August.
It’s “one of the great selling points of the Azores,” he says. “It is rarely below 60. It is rarely above 80. And the water temperature tends to be steady between 65 and 75 degrees.”
Patsky says he and his husband, a retired businessman who’s 66, are “80%” sure they are going to live outside the United States when they retire. They are tired especially of the politics and the racial tensions.
The No. 1 thing that attracted them to the Azores — which lie barely more than twice as far from Boston as from Lisbon — wasn’t the weather. It was the emigration.
Portugal, they discovered, offers the all-round fastest, cheapest, easiest way to get a so-called golden visa, putting the recipient on a fast track to permanent residence and citizenship.
You have to have means, but this is not purely for Rockefellers. If you want to get Portuguese residency, and a passport, you need to buy a home in the country and generally to put at least some money into fixing it up, and spend at least seven days a year in the country for the next five years.
After six months, you get a residency card. After five years, a passport.
The threshold prices vary, depending on the type of home you buy and where you buy it, but they start at €280,000 (about $310,000).
As part of the deal, says Patsky, you have to buy the home with cash. You can’t take out a Portuguese mortgage. But you can always raise the cash by remortgaging a U.S. home. The money thresholds are lower than in many other countries. And the seven-day requirement lets Patsky continue his job in Boston, as the CEO of socially responsible investing company Trillium, during the five years.
Europe is by far the most popular destination by continent, with about a quarter of a million U.S. retirees, based on Social Security direct deposits. That includes nearly 13,000 in Portugal.
“Portugal has been so welcoming to the LGBT community, that you are seeing a huge number of LGBT couples looking at Portugal,” reports Patsky. On their trips to the Azores, Patsky says he and his husband have been bumping into other LGBT couples from the U.S. looking at golden visas as well.
On a recent trip they overheard four American women at the next table in a restaurant. It was “two lesbian couples from Philadelphia, looking at the ‘golden visa’ and looking at property in the Azores. We ended up sitting with them with my iPad open looking at property.”
You can see the islands’ attraction. There are regular flights from various North American and European cities, Patsky says. “It’s a 4½-hour flight from Boston, and, because of our large Azorean population [in New England], there are actually daily flights,” he says.
Pretty much everyone on the island speaks some English, which is taught in schools as a compulsory second language.
“It’s like living in a Portuguese fishing village,” Patsky says of Ponta Delgada, the main city on São Miguel. “It has a lot of the same feel as Provincetown [on Cape Cod], in terms of being a fishing village. It’s quaint.” The population is about 70,000. “It’s a good size, and it’s got a very vibrant economy.”
Thanks to some spectacular cliffs, São Miguel — one of the nine islands that the Azores comprise — has hosted the Red Bull World Cliff Diving World Series on several occasions, including last year.
Patsky and his husband love the island’s natural beauty. “January, we were swimming, we were at the hot springs. Incredible. This really is nice weather year round. There is no traffic. There is no rush hour.” The longest distance you could drive on the island, from one point to another, would take you an hour, he says.
And unlike in Boston, he adds with a laugh, you don’t see snow.
Both members of the couple are equally eager to retire abroad, Patsky says, in no small part to flee America’s rising racial tensions and poisonous politics. Last year Patsky’s husband, originally from the Philippines, was run over at a pedestrian crossing in Boston, Patsky recalls, and was left lying on the pavement with multiple fractures. When a policeman arrived at the scene, he asked the prone 65-year-old for his Social Security number to determine whether he was in the U.S. illegally, Patsky says.
“My husband and I want to make sure that our retirement is spent in a country that respects the dignity of every person,” Patsky says, “and that treats access to health care as a human right.” Portugal has a public health service, modeled after Britain’s National Health Service, which is available to all residents.
They are hardly alone in looking at the Azores. This is starting to turn into a well-trodden exit route. “There are hotel chains that are selling villas at exactly the price point you need to get the golden visa,” Patsky says. They’ll even rent the villa out for you to tourists, to generate income, and say they’ll buy it back after the five years are up.
Patsky says the couple won’t be moving for at least five years. Patsky’s remaining at the helm of Trillium following its takeover by Australia’s Perpetual Ltd. PPT, -1.13%.
He says one of the key appeals of Portugal’s visa program is that he can carry on working full time in the U.S. while at the same time completing the steps needed to get his Portuguese passport.
Naturally, there are forms to fill out. You’ll need the usual financial and employment records. You’ll also need an FBI report to prove you have a clean rap sheet. (Pro tip from Patsky: Don’t get your fingerprints done at the police station on card. Get them done electronically at the post office and apply online. It will save you weeks.)
As for that major retirement headache, health care, you will need to prove you have health insurance in your home country every year during the initial five years, Patsky says. Medicare counts.
And when you finally retire to the country full time? After your five-year period you’ll have a Portuguese passport. And that means an EU passport. And so you can move anywhere in the EU, including those places with the most lavish, generous public health insurance.
“You can pick wherever you want to retire because it’s the EU,” Patsky says.
The leading US railroad contractor further expands national reach.
Press Release –
Apr 13, 2022
FORT WORTH, Texas, April 13, 2022 (Newswire.com)
– As the Nation’s leading provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure, American Track is proud to announce the acquisition of The Railroad Associates Corp (TRAC) in Boiling Springs, PA.
In 2021, DFW Capital Partners acquired American Track and has assisted with an aggressive strategy to grow the organization organically and through acquisition. Operating now from 10 full-service offices in strategically located markets, the Company provides mission-critical services for its customers that ensure the safety, compliance, operability and flexibility of onsite railway assets. American Track serves a wide range of industries, including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports and transload facilities across the U.S.
Thomas Lucario, Chief Executive Officer of American Track, commented: “TRAC has been a strong force in the railroad services industry, and we are happy to have them join the American Track family. With the addition of the TRAC team, American Track greatly enhances our service delivery capabilities, customer base and national reach.”
“We are excited to join the American Track organization,” stated Mike Kennedy, founder of TRAC. “We set out 22 years ago to build a great company, and joining American Track is the culmination of those efforts. We are happy to be a part of a team that delivers to rail service clients a shared commitment to strong customer service, quality workmanship and safety.” Dave Goretski, former COO of TRAC, added, “With our strong maintenance presence in the Northeast and nationwide presence on rail construction projects, TRAC brings new and increased solution-based service capabilities to an already strong, national organization.” As part of the combination, Dave will serve as the Chief Development Officer for American Track, while Mike will remain active with the organization and support in an advisory capacity. Dave, Mike and certain key TRAC employees also have joined in the management equity ownership of American Track.
TRAC was represented in the process by TM Capital www.tmcapital.com. Affiliates of DFW Capital Partners made an additional equity investment in the company, coupled with support from the existing American Track lender, PineBridge Investments.
About American Track
Headquartered in Fort Worth, Texas, American Track is the leading independent provider of turnkey railroad design, repair, maintenance, construction, and inspection services for critical rail infrastructure atindustrial, municipal, and logistics sites. American Track, www.AmericanTrack.com, is a portfolio company of DFW Capital Partners. www.dfwcapital.com
About The Railroad Associates Corp (TRAC)
Founded in 2000, TRAC is the final succession in a multi-generational rail services business owned by the Kennedy Family in eastern Pennsylvania. TRAC specializes in providing railroad design and construction services from concept to completion. Additionally, TRAC performs railroad maintenance and terminal services for industrial customers in the Northeast U.S. More information can be found at www.railroadtracusa.com.
For more information regarding this release, please contact:
SRS Distributor’s Latino Marketing & Sales Program Manager Julissa Chavez says this is the second year of their sponsorship but the first to sponsor all two city events
Press Release –
Feb 24, 2022
HOUSTON, February 24, 2022 (Newswire.com)
– National Texas-based company SRS Distribution Inc., a leader in the building products distribution industry, has announced its sponsorship of the upcoming series of trade shows, ExpoContratista. The events will occur in Dallas (July 16-17), and Houston (Oct. 22-23).
SRS Distributor’s Latino Marketing & Sales Program Manager, Julissa Chavez, says this is the second year of their sponsorship but the first to sponsor all two city events; last year they sponsored the Houston Expo. She says their interest evolved after 2019, when “we saw the trend [of a burgeoning Hispanic construction industry grow] from just the people doing the labor, to ‘let’s open our own business.’“
“This is the second year SRS Distribution DBA Southern Shingles participates as a sponsor of ExpoContratista and the first time we will sponsor all two city events. After successfully sponsoring the Houston Expo in 2019, we have seen a growing trend in the construction industry, from contractors to people starting up their businesses”, said Julissa Chavez, Latino Marketing Program and Sales Manager.
With Hispanics and Latinos slated to dominate not only Texas but the United States in the coming years, their financial power will only continue to grow. ExpoContratista is capitalizing on this – the 2021 Texas state census showed that just under 40 percent of residents were of Hispanic/Latino descent.
Chavez says, “We want to establish a partnership with Expo Contratista to develop educational opportunities and support events that tailor to the Latino Construction workers in America. The SRS para Latinos program is definitely leading the way for the roofing industry; no other national roofing distributor has anything like our program, and we will continue the momentum by continuing to develop our vendor partnerships within the industry.”
“SRS Distributors does this by analyzing the needs of their Spanish-speaking roofing contractors. The SRS para Latinos program will continue to offer resources, education, and solutions that help support roofing contractors in their businesses,” she says.
To achieve this, SRS Distribution is constantly analyzing the needs of their Spanish-speaking roofing contractors. “Our SRS para Latinos program will continue to offer resources, education, and solutions that help support roofing contractors in their businesses.”
Testimonials from past events accentuate the benefits of the expos, with one attendee saying, “I had a great experience and met a lot of people, plenty of people that didn’t know about us now know about us.” (Martin’s Hardware).
Contractors and construction industry workers alike will convene at the two Texas locations, enjoying talks and seminars, networking, and informal discussions in an upbeat, casual atmosphere.
ExpoContratista will punctuate the momentum of Hispanic construction industry growth, while also fostering new ideas for the future. After all, the need for development is a major impetus of Hispanic immigration, not just in Texas but in the entire country.
Chavez adds that in carving out a niche in the Hispanic market, they are fostering an environment where Spanish-speaker contractors feel more comfortable, acknowledged, and eager to participate. “Our mission is to support to Latinos in construction, and if people want to put us in the category of “preferred distribution partner in the market”, that’s kind of our sweet spot.”
FORT WORTH, Texas, December 2, 2021 (Newswire.com)
– American Track, the Nation’s leading provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure, announced the closing on a recapitalization transaction led by DFW Capital Partners. Operating from nine branch offices in strategically located markets, the Company provides mission-critical services for its customers that ensure the safety, compliance, operability and flexibility of onsite railway assets. American Track serves a wide range of industries including manufacturing, petrochemical, mining, agricultural products, food and beverage, basic raw materials, ports and transload facilities across the US.
American Track has been partnered with Hilltop Private Capital since its formation through a consolidation of two family businesses in 2016. During this time, American Track has seen great success and has grown from three locations to nine, with multiple acquisitions included. Kate Lehman, Managing Partner for Hilltop Private Capital, stated, “We are proud to have partnered with management and the company founders to create the American Track platform and to provide the resources to execute our growth strategy. We thank our capital partners PNC Mezzanine Capital and Deerpath Capital Management for their support and wish the entire American Track team continued success as it moves forward.”
Thomas Lucario, Chief Executive Officer of American Track, commented: “Hilltop and PNC Mezzanine Capital have been excellent partners for American Track over the past five years and have led us to achieve exceptional growth. With that in mind, we are extremely excited about partnering with DFW Capital Partners as we move into our next stage of expansion into additional services and geographies. We are certain DFW will provide us with not only additional resources, but also the right leadership, perspective, and commitment to invest in our people, equipment and customers in the future.”
Keith Pennell, Managing Partner for DFW, added, “American Track represents a unique opportunity to back a very talented operating team and a market leading operating business in what remains a highly fragmented, specialized industry. We are excited to contribute some of our prior experiences in successfully scaling field service-oriented businesses to American Track, as well as supporting a more robust organic and add-on growth strategy.”
About American Track
Headquartered in Fort Worth, Texas, American Track provides railroad inspection engineering, repair and maintenance, construction services for critical rail infrastructure atindustrial, municipal, and logistics sites from various locations across the US. www.AmericanTrack.com
About Hilltop Private Capital
Hilltop is a private equity firm focused on providing flexible capital and operating resources to lower middle market companies at a growth or ownership inflection point. The firm is operated by experienced investors with a successful track record of supporting management teams to reach their strategic, operational, and financial goals. www.HilltopPrivateCapital.com
About PNC Mezzanine Capital
PNC Mezzanine Capital is a flexible junior capital provider with expertise supporting buyouts, recapitalizations, and consolidation strategies. PNC MC invests in companies operating in a wide range of industries, but has particular interest in Manufacturing, Value-Added Distribution, Business Services, and Consumer Services. Since 1989, PNC Mezzanine Capital has been a stable, thoughtful junior capital partner for private equity firms, independent sponsors, entrepreneurs, and management teams. PNC MC’s approach is to underwrite the long-term business strategy of their portfolio companies, allowing them to respond constructively to the opportunities and challenges of the changing business environment. As a result, PNC Mezzanine Capital has made 190 investments in 98 portfolio companies in support of 367 transactions. Investments are a combination of subordinated debt and equity between $10 million and $50 million in companies with strong management, proven business models, stable cash flows, and a clear plan for growth. www.pnc.com/mezzanine
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies catering to complex and regulated end markets, with an emphasis on healthcare and outsourced business and industrial support services. DFW has established a 20+ year track record of success in both building leading companies and recognizing attractive returns for its investors. DFW is headquartered in Teaneck, New Jersey, and maintains an office in Chevy Chase, Maryland. https://dfwcapital.com
LAS VEGAS, February 16, 2021 (Newswire.com)
– Terra Contracting, a full-service land development General Contractor based in Las Vegas, whose leadership has more than 40 years of underground utility installation experience, announces a new line of service that will save public and private entities millions of dollars in maintenance and construction costs by enabling the safe repair of underground vaults. This service eliminates the need to completely replace aging underground utility vaults, by strengthening their structural integrity from within. Terra Contracting’s repair process is now available to utilities nationwide.
For utility companies, the ability to significantly extend the life of a failing underground vault, as opposed to having to completely replace it, is a game-changer on multiple fronts including less impact to operating budgets and less disruption to the public.
The process that was developed by Terra was recently proven and documented as the company successfully repaired a collection of four significantly damaged vaults beneath the busy streets of Las Vegas. Underground utility vaults are common throughout the United States and the world; they house utility lines underneath streets and sidewalks and are accessed by opening manhole covers.
“When an underground vault begins to fail structurally, the utilities they house can no longer be safely accessed for routine repair and maintenance,” explained Ed McSwain, owner of Terra Contracting. “Typically, a failing vault must be completely opened up at street level so the vault can essentially be dismantled and rebuilt to continue to house the utilities therein. This is tremendously disruptive, expensive and time consuming.”
Terra Contracting uses specific products and expertise to repair failing vaults. Terra Contracting’s structural concrete repair division developed a process to repair and rejuvenate existing vaults by using a collection of specialized concrete repair products and materials (including the primary product, FLEXKIT) from JES Supply Company, a West Coast supplier of specialty concrete repair products.
Additional Background on the Concrete Vault Repair System
The public utility identified four underground vaults that were in such disrepair (concrete walls and ceiling were crumbling due to corrosion of the reinforcing rebar) that it was unsafe to allow personnel to enter to perform routine duties.
Terra Contracting’s structural concrete repair division was asked to inspect the vault and suggest possible repair solutions. Terra’s team of experts decided the best course of action was to utilize the FLEXKIT Concrete Repair System, a system for which Terra is a certified installer.
Once the public utility approved the recommended repairs and agreed for work to proceed, the repair of the vaults averaged six days. An estimated 1.2 yards of loose concrete was removed from the walls and ceiling of each vault. The material was then applied curing to 12,000 psi, providing a permanent repair. The ultimate benefit to the utility provider and its customers is a cost savings of over $200,000 per vault.
All repair materials were supplied by JES Supply Company of Las Vegas, NV.
For more information about the significance of this underground concrete vault repair service and process, please contact Terra Contracting at (702) 651-8100 or by email at info@terracontracting.com.
About Terra Contracting Terra Contracting was incorporated in 1994 as a full-service land development General Contractor, self-performing grading, paving, underground utilities, site concrete, structural concrete repair/overlays, geotechnical drilling, helical piers, fabric structures, and above-ground boardwalks. For more information, visit terracontracting.com.
The inaugural award honors companies displaying excellence and innovation in today’s most competitive technology sectors.
Press Release –
updated: Nov 17, 2020
COLUMBIA, Missouri, November 17, 2020 (Newswire.com)
– EquipmentShare, a construction technology company, today announces that it has been selected as the winner of the Tech Breakthrough organization’s “Fleet Management Technology Company of the Year” award in the 2020 AutoTech Breakthrough Awards program. Through market research and programs honoring excellence, the Tech Breakthrough organization recognizes global leaders and innovative technology services and solutions in the automotive and transportation industry today.
“EquipmentShare is implementing breakthrough cloud technology to help the construction industry improve efficiency and productivity for the built environment,” said Bryan Vaughn, managing director of the AutoTech Breakthrough Awards. “We congratulate the EquipmentShare team for their Fleet Management Technology Company of the Year honors at this year’s AutoTech Breakthrough Awards, and we look forward to continued innovation from the company in 2021 and beyond.”
“My team and I have been passionate about the work that went into this product because we know how it can truly evoke change in behavior, which translates into significant cost and time savings for our customers,” said Angela Page, team lead for EquipmentShare’s fleet product. “We are honored to receive this award and for another party to validate our work. EquipmentShare’s fleet tool provides our customers with a never-before-seen view of what’s going on across their fleet, whether it’s on the road, at a jobsite or across multiple states. This is a game-changer for the industry.”
Tech Breakthrough has bestowed similar awards in the past to other industry-leading companies that include Cisco, Dell, Philips, Sprint, HP, Comcast, Philips, Intel, Shell and Quicken Loans, among others. This year’s inaugural AutoTech program attracted more than 1,250 nominations from over 12 different countries throughout the world.
“The construction industry has not experienced meaningful productivity gains over the past 80 years, and traditional telematics platforms simply don’t provide fleet managers and contractors easy access to the data they need to make essential business decisions,” EquipmentShare President and Co-founder Willy Schlacks said. “We address this issue head-on. Our platform of solutions gives dispersed teams access to essential fleet data from any device to support project bidding, budgeting and improved communication across departments.”
EquipmentShare’s cloud technology platform helps construction fleet managers and fleet transportation professionals change how they do business and get work done. The platform allows fleet managers to monitor their vehicles and equipment, drivers and utilization to make business decisions, analyze project and job expenses, comply with driving regulations and enhance safety on the road or at facilities. EquipmentShare’s fleet management hardware and software suite is OEM-agnostic and can track any piece of equipment, vehicle or machine, regardless of brand, make or model to monitor key performance indicators, GPS location, fuel levels, utilization and more.
“We are restoring visibility and productivity to fleet management,” Schlacks said. “This software was purpose-built to improve efficiency for fleet managers, giving them total visibility over the major functions of their daily business operations—including their vehicle assets, personnel, consumables and materials, safety and compliance. That visibility is extremely impactful to a business’s bottom line.”
EquipmentShare’s suite of solutions includes robust capabilities that allow fleet managers to run reports and gain insight over total fleet activity. The platform includes a fleet management dashboard in which customers can track utilization hours and see how far an asset has traveled, in addition to viewing how many assets are in a particular jobsite area or geofenced location.
All assets rented through EquipmentShare are connected to the company’s fleet management platform. Customers can also outfit their own pieces of equipment with the award-winning hardware and software.
“With this tool, fleet managers have the ability to see holistic data across both owned and rented assets,” said Maroua Jawadi, team lead for the fleet management dashboard product at EquipmentShare. “They can also view information on a micro-level and filter data to see exactly what matters to them: asset group, asset category, company branch or location. ”
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Headquartered in Columbia, Mo., EquipmentShare is a nationwide construction solutions ecosystem provider that solves industry pain points through smart jobsite technology and equipment rental, retail and service distribution. More than a rental company, EquipmentShare’s cloud platform enables construction and industrial companies to gain a real-time view into the connected jobsite. EquipmentShare’s enterprise suite is OEM-agnostic and can track any piece of equipment, regardless of brand, to help fleet managers monitor assets, prevent theft and machine misuse, track employee hours and shifts, increase machine utilization, streamline maintenance and prevent unplanned downtime.
Founded in 2015, EquipmentShare employs nearly 2,000 team members of diverse perspectives that push the boundaries of possibilities to create unparalleled customer value, support their communities and empower construction professionals to work more efficiently. EquipmentShare’s growing presence of more than 70 locations, which includes equipment and service yards, research and development sites, administrative offices and specialty solutions, serve the rapid demand for the company’s equipment and digital solutions. To learn more about the company, visit equipmentshare.com.
About AutoTech Breakthrough
The AutoTech Breakthrough Awards program provides a forum for public recognition around the achievements of AutoTech companies and solutions in categories including Connected Car, Electric Vehicles, Engine Tech, Automotive CyberSecurity, Sensor Technology, Traffic Tech, Vehicle Telematics and more. For more information visit AutoTechBreakthrough.com
FORT WORTH, Texas, April 22, 2020 (Newswire.com)
– As one of the nation’s leading railroad design, construction and maintenance companies in the United States, American Track is proud to announce the purchase of the “Track Inspection, Maintenance and Repair” group from Savage Transportation Management in Salt Lake City, UT. With this acquisition, American Track will acquire Savage’s assets and the team associated with railroad track inspection, maintenance, and repair services throughout the U.S., including operations in Louisiana, Utah, Wyoming and Colorado.
American Track was formed by Hilltop Private Capital in 2016 to create a national provider of safe, high-quality track maintenance and construction services. With over 45 years of heritage, the combined Company now operates in 10 locations across the U.S. under the name American Track Services to provide rail support services to essential mines, ports, refineries, manufacturing facilities, warehouses, trans-load facilities, rail-car maintenance, short line and mainline railroads across the U.S. More information about locations and services can be found on the company’s website at www.AmericanTrack.com.
Thomas Lucario, President and CEO of American Track commented: “The Savage Track Inspection, Maintenance and Repair team has a strong reputation of quality service working for some premier customers in the U.S. transportation, refining and manufacturing sectors. We are proud to add this group to our team at American Track and look forward to carrying on and expanding that legacy within our organization.”
“Hilltop is excited to help American Track in their efforts to expand their service capabilities and reach,” said Drew Shea, Managing partner of Hilltop Private Capital. “We strive to partner with and assist our companies in finding growth opportunities, organically and through acquisitions. American Track will continue to look for similar opportunities throughout 2020.” More information can be found about Hilltop Private Capital and how they support companies like American Track at hilltopprivatecapital.com.
About American Track
American Track is a Fort Worth, TX-based company that specializes in the inspection, repair, maintenance, design and construction of railroad track, predominantly for private industrial users. For more information, visit www.americantrack.com.
ATLANTA, October 10, 2019 (Newswire.com)
– School systems all across the country are always looking for new ways to increase the safety and security of their students and staff. One particular method that is gaining popularity is adding a security vestibule, or mantrap, to the entrances of the school buildings. Prefabricated entry vestibules are often utilized as a way for a facility to save on energy costs, especially during harsh weather seasons. They keep the facility closed off at all times by creating an enclosed buffer-zone between the outside environment and the inside of the facility, helping the facility maintain a more constant temperature by keeping outside air out and inside air in. This way facilities can save a lot of money in the long run by not having their HVAC systems running constantly. This can be especially helpful in facilities with a lot of foot traffic in and out, leading to the entrances doors being open and closed often.
However, having this barrier at the front of your school system can create a benefit for the school’s security as well. The additional room that the entry vestibule creates at the front of the school creates what is known as a mantrap. The rooms are referred to as such because they quite literally can be used to trap a man (or woman) from entering into your facility. The vestibule does this by keeping the all door sets in the room locked whenever a person is inside.
How Would Students Gain Entry?
Typically, these systems operate in a couple of ways. First, they can have what is essentially a two-step verification for the entry of the facility. In this case, the building would use two different forms of Identification (so an ID card and PIN code for example) for each of the doors. This a very high level of security and is typically utilized in places like a government facility.
So How Do These Entry Vestibules Protect Schools?
For most schools, a simple, single-step verification with one or two sets of locked doors would likely be fine. In this case, the first set of doors could either be unlocked or locked. If unlocked, the first door would immediately lock once a person entered. From there, the person could exit the vestibule using a form of Identification. If the outer door is locked, it would have the ID verification and once the person entered, the inner door would remain locked until the outer door was closed. A form of vestibule monitoring (either manual or technological) should be employed in these vestibules to ensure no more than one person enters at a time.
MINNEAPOLIS, March 21, 2019 (Newswire.com)
– PULSE, a global, next generation ministry based in Minneapolis, will be moving into their new downtown headquarters this summer. Construction began this month to build out their 16,000 square-foot vintage space at 600 S 9th Street. The mission of PULSE is to awaken culture to the reality of Jesus, and plans for this new headquarters include leadership training intensives, an enhanced internship program, and a media studio/creative space for digital ministry efforts.
“We are investing in the next generation—believing that they will bring revival. We’re creating a culture that draws in talent, fosters creativity, and executes world-class campaigns,” said Nick Hall, the Founder and Chief Communicator of PULSE.
PULSE began on a college campus in North Dakota and first officed out of a church basement. Since those humble beginnings in 2006, PULSE has shared the message of Jesus with nearly five million students through live events. Today, PULSE is focused on multiplication—multiplying their efforts to make Jesus known and multiplying the number of millennials and gen z’ers who are following Jesus and sharing His message.
Nick Hall and his team at PULSE have hosted some of the largest Jesus gatherings of the past decade. Last year, PULSE organized an event at U.S. Bank Stadium called Pulse Twin Cities. The eighteen-month campaign brought together more than 700 partnering churches, trained 10,000 individuals to share their faith, and culminated with a 45,000 next generation event that included a world record breaking pillow fight.
This spring, PULSE will hold UNITE on the National Day of Prayer at Grace Church in Eden Prairie on May 2. UNITE, an annual event in the Twin Cities, is a prayer and worship event for the next generation. This year’s event includes music from Hillsong NYC worship and KB along with a message from Nick Hall. More information for this free event can be found at unitendop.com.
About PULSE
Founded in 2006, PULSE is a Minneapolis-based, millennial-led prayer and evangelism movement on mission to awaken culture to the reality of Jesus. For more than a decade, PULSE has hosted some of the largest Jesus gatherings for the next generation. They’ve impacted nearly five million students and young adults through live events and were in front of nearly one million in 2018 alone. PULSE Founder, Nick Hall, is a leading international voice in the cause of evangelism and the author of the book, Reset: Jesus Changes Everything. Learn more at pulsemovement.com.
About Nick Hall
Nick Hall is the visionary of the Together movement, author of the book Reset, and the Founder and Chief Communicator for PULSE, a ministry at the center of some of the largest millennial-led prayer and outreach efforts in the world. As an evangelistic voice to the next generation, Nick Hall has shared the Gospel at hundreds of events to nearly four million students and is regularly featured as a speaker for pastors’ gatherings, student conferences, training events, and festivals around the world. Nick is the President and CEO of The Table Coalition (formerly Mission America Coalition), sits on the board of the National Association of Evangelicals, and is part of the student advisory team for the Billy Graham Evangelistic Association (BGEA). Nick, his wife, Tiffany, and their two children live in Minneapolis, MN.
CHICAGO, December 12, 2018 (Newswire.com)
– The Council on Tall Buildings and Urban Habitat (CTBUH) has released its annual report, the “2018 Tall Building Year in Review,” part of the Tall Buildings in Numbers data analysis series. The report shows that 143 buildings of 200 meters’ height or greater were completed in 2018, including 18 “supertall” buildings of at least 300 meters’ height, a new record. The total number of supertall buildings worldwide is now 144. In 2013, there were 76 buildings 300 meters or higher worldwide; in 2000, only 26. The 528-meter Citic Tower in Beijing was the tallest building completed in 2018.
China has maintained its reign as the most prolific country when it comes to the construction of tall buildings, with 88 completions in 2018, for 61.5 percent of the total. This is a record for China, exceeds last year’s figure by eight, and represents an even greater proportion of the global total than the 2017 figure of 54.4 percent. China’s previous record was set in 2016, with 86 buildings of 200 meters or higher. Second place was again held by the United States, with 13 completions, up from 10 in 2017. And once again, outdoing its own record from last year, Shenzhen, China, recorded 14 completions, making this the third year in a row in which the city accounted for the world’s largest number of 200-meter-plus completions, and comprising nearly 10 percent of the global total.
Given the rate of urbanization seen in the world – and that we must build the equivalent of a new city of 1 million people every week to accommodate this growth – it is not surprising that the pace of tall building construction continues.
Antony Wood, CTBUH Chief Executive Officer
“Given the rate of urbanization seen in the world – and that we must build the equivalent of a new city of 1 million people every week to accommodate this growth – it is not surprising that the pace of tall building construction continues,” said CTBUH Chief Executive Officer Antony Wood.
Other dominant characteristics of the 200-meter-plus set included the office function (42 percent), and concrete as the main structural material (62.9 percent). The average height of 200-meter-plus buildings completed in 2018 was 247 meters, a slight increase over the 244-meter figure for 2017. The average height of the World’s 100 Tallest Buildings grew to 381 meters.
CTBUH examines buildings 200 meters and higher due to the completeness of available data for buildings in this category.
Gordie Howe Sports Complex in Saskatoon grows to serve more athletes with the help of FieldTurf, Beynon Sports & Playteck Enterprises.
SASKATOON, Saskatchewan, February 8, 2018 (Newswire.com)
– One of Canada’s largest, most ambitious and popular, year-round, community sports complexes is receiving a massive upgrade; setting itself up as a leading example for communities worldwide.
The improvements will elevate the Gordie Howe Sports Complex, in Saskatoon, to a legendary level of public amenities and extend a strong relationship with the Tarkett Sports family – FieldTurf, Beynon Sports & Playteck Enterprises. Included in the upgrade will be a conversion to premium FieldTurf surfaces (including Canada’s first outdoor FieldTurf CORE sports field); adding a winter speed skating oval that converts into a summer outdoor Beynon track by Playteck Enterprises; plus, new indoor and outdoor baseball and softball diamonds, and much more.
“Our history with the Saskatoon sports community goes back to 2005 when we first installed our playing fields at the SaskTel Soccer Centre. Over the years, this relationship has continued to grow and in 2014 we were delighted to build our first FieldTurf Revolution field at the Gordie Howe Sports Complex,” said Eric Daliere, President, Tarkett Sports. “Led by the Friends of the Bowl, this community is leveraging the combined strengths of our Tarkett family by utilizing the unique features in every product we offer; from the debut of our CORE system to the use of FieldTurf Armour to create a winter speed skating track on top of an outdoor Beynon IAAF certified athletic running track – this is a dream project for us.”
Strong community support spearheaded by the visionary leaders of the Friends of the Bowl has experienced significant financial donations from multiple donors and has been encouraged by a supportive Saskatoon City Council.
“Whereas our Mission with the ‘Friends of the Bowl’ is to improve all sporting facilities within the Gordie Howe Sports Complex for the benefit of all citizens of Saskatoon, we are thrilled to be partnering with FieldTurf, Beynon Sports, Playteck Enterprises and its various product lines to ensure that we have the very best of sports surfaces in all areas to be used by all for many years to come,” stated Bryan Kostersoski, Chairperson.
In total, multiple sporting activities will be featured at the Gordie Howe Sports Complex, including football (tackle, flag and touch), soccer, softball, baseball, speed skating, cross-country skiing, track and field, ultimate frisbee, hockey, rugby and lacrosse.
Upgrading the existing facilities at the complex will continue to allow the hosting of future national and international sports championships, now in even more activities than ever before.
Details of newly added features include:
Canada’s first outdoor FieldTurf CORE system. The world’s first multi-layer, dual-polymer turf fiber will debut at the Gordie Howe Sports Complex.
New, indoor, 60,000 square foot multi-sport training center featuring Beynon Sports PolyTurf flooring for weightlifting spaces and general areas, plus indoor FieldTurf fields for softball/baseball infield diamonds.
New Beynon Sports BSS 2000 track and field surface built to Class II IAAF certification standards will be one of the largest and most prestigious athletic facilities across Canada. This unique, 400-meter track with all associated field events as well, will convert to a speed skating oval for use by the skating community throughout the winter months.
Two all-weather, year-round, outdoor FieldTurf baseball infields.
Batting cages, both indoor and outdoor.
The complex was originally created as part of an existing city park and renamed and expanded to honor “Mr. Hockey”, the legendary Gordie Howe, a native son of Saskatoon. From 1946 to 1980, Howe played twenty-six seasons in the National Hockey League and six seasons in the World Hockey Association; his first 25 seasons were spent with the Detroit Red Wings. The support of the Howe family with this city complex continues to this day. Construction on the new additions to the complex begin in April and scheduled for completion by late 2018.
More about the products slated for the Gordie Howe Sports Complex:
FieldTurf CORE is the world’s first multi-layer dual-polymer fiber. Engineered as the premier system, CORE is designed to deliver a more realistic, textured, grass-like shape with optimal durability and resilience. The system is constructed to deliver the highest fiber performance and resiliency available on the market. CORE is designed to provide elite high schools, high-level collegiate programs and professional teams with a system that exceeds even FieldTurf’s current industry-leading products.
Beynon Sports BSS 2000 This Olympic-caliber track system is designed to deliver safe daily training and still be exceptionally fast on race day. The track features a force reduction layer of high-performance butyl rubber and full-depth color polyurethane, finished with Beynon’s specialized Hobart Texture™, engineered to eliminate the EPDM granule migration found in traditional embedded track systems.
Beynon Sports PolyTurf Plus is a seamless sports flooring option, manufactured by Beynon Sports. This polyurethane pad and pour system is formulated for superior durability, precise game line markings, and fast installation. PolyTurf Plus Pad and Pour is also GREENGUARD Gold certified, representing a higher standard of indoor air quality. It is an excellent solution for schools and physical training areas.
FieldTurf Armour Designed to minimize wear and damage to your track & field surface. FieldTurf Armour protects against surface abrasion, surface and base compaction and contamination of the turf and the infill, as a result of event attendee traffic.
ABOUT FIELDTURF
When it comes to artificial turf sports fields, FieldTurf is the most trusted brand in the industry. Whether it’s football, soccer, baseball or any other sport, FieldTurf fields provide athletes with the safety and performance they need to perform at their best, while giving field owners the durability they want to maximize the value of their investment. FieldTurf is the world leader in artificial turf with over 20,000 installations worldwide.
ABOUT BEYNON SPORTS & PLAYTECK
Beynon Sports, the leader in track surfacing, is represented in Canada by Playteck Enterprises. Playteck has been installing, innovating and transforming the Canadian track market over the last 30 years. Alongside their nation-leading 5 Class II IAAF certified tracks, Playteck is the trusted supplier of University of Alberta, the University of Guelph, University of Victoria, Canada Games Center at the University of Prince Edward Island, Foothills Athletic Park in Calgary and countless University and College projects in Canada.
ABOUT TARKETT
Tarkett is a global leader in innovative and sustainable solutions for flooring and sports surfaces. Offering a wide range of products including vinyl, linoleum, carpet, rubber, wood & laminate, synthetic turf and athletic tracks, the Group serves customers in more than 100 countries worldwide. With 12,000 employees and 34 industrial sites, Tarkett sells 1.3 million square meters of flooring every day, for hospitals, schools, housing, hotels, offices, stores and sports fields. Committed to sustainable development, the Group has implemented an eco-innovation strategy and promotes circular economy. Tarkett is listed on Euronext Paris (compartment A, ticker TKTT, ISIN: FR0004188670). www.tarkett.com
