Suit Aims To Stop 15 Logging Projects 1hr

Suit Aims To Stop 15 Logging Projects 1hr: "

An environmental group is suing the state in an effort to stop plans by Sierra Pacific Industries to cut down 5,000 acres of trees in Northern California.

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linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Architecture Billings Index Remains in Negative Territory

Architecture Billings Index Remains in Negative Territory: "On the heels of a more than three-point drop in November, the American Institute of Architects' (AIA), Washington, D.C., Architecture Billings Index (ABI) had a negligible increase of less than one point in December

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

In 2009, Retail Real Estate Industry Delivered Lowest Amount of Space in 27 Years

In 2009, Retail Real Estate Industry Delivered Lowest Amount of Space in 27 Years: "The retail real estate industry delivered 79.5 million square feet of space in 2009—the lowest amount of new construction in CoStar’s records, which go back to 1982."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Retail Contractors Expect Business to Remain Slow in 2010.

Retail Contractors Expect Business to Remain Slow in 2010.: "The outlook for retail construction will begin to stabilize this year, but it will likely be a long road back to the volume contractors completed in the mid-2000s."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

New Construction Starts in December Climb 5%; Annual Total for 2009 Drops 26% to $412 Billion

New Construction Starts in December Climb 5%; Annual Total for 2009 Drops 26% to $412 Billion
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Construction Spending Slump to Persist in 2010

Construction Spending Slump to Persist in 2010: "Despite noting that “the long-awaited recovery seems to be under way,” the AIA's newly released Consensus Construction Forecast offers little reason for optimism in 2010. It does, however, provide hope for 2011."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

EVERY STATE AND THE DISTRICT OF COLUMBIA LOST CONSTRUCTION JOBS DURING THE PAST YEAR, NEW DECEMBER EMPLOYMENT DATA FINDS

EVERY STATE AND THE DISTRICT OF COLUMBIA LOST CONSTRUCTION JOBS DURING THE PAST YEAR, NEW DECEMBER EMPLOYMENT DATA FINDS: ""
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

90 Percent of U.S. Contractors Say Industry Will Not Recover in 2010

90 Percent of U.S. Contractors Say Industry Will Not Recover in 2010: "

Nearly nine-in-ten contractors say there will be no recovery in 2010 as part of a new national construction hiring and business outlook forecast released today by the Associated General Contractors of America.

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

No Recovery In Housing In Immediate Future

No Recovery In Housing In Immediate Future: "A rebound won’t materialize in residential construction until the problems of foreclosure, high unemployment and tight lending are diminished."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Construction Costs Slump as School Markets Falter

Construction Costs Slump as School Markets Falter: "Once thought to be virtually recession-proof, the school construction market is starting to falter, undercutting building costs associated with that market."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

I.M.F. Head Says Global Economic Growth to Exceed 3% in 2010

I.M.F. Head Says Global Economic Growth to Exceed 3% in 2010: "While the recovery in most advanced economies was likely to remain sluggish, the outlook for emerging market economies was considerably better, Dominique Strauss-Kahn said.




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linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

High Unemployment Levels Put Housing on Slow Growth Track

High Unemployment Levels Put Housing on Slow Growth Track: "Press Release"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Dillard’s, Abercrombie Not Bringing in the Bucks

Dillard’s, Abercrombie Not Bringing in the Bucks: "Motley Fool has some pretty frightening charts for shopping-center landlords. Some of the largest tenants in the industry, such as Dillard’s, Abercrombie & Fitch and J.C. Penney are posting serious same-store sales declines.

And these companies are among the most trusted names in retail. Are we headed for more store closures?

ALSO: Bloomingdale’s Outlet-Store Openings a Late, [...]"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Apartments will be in Short Supply in Coming Years According to Building Industry Leaders

Apartments will be in Short Supply in Coming Years According to Building Industry Leaders: "Press Release"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Senate labor committee looks into construction hiring

Senate labor committee looks into construction hiring: "

The state Senate's labor committee is holding a public hearing today on a construction industry practice of paying workers under the table to avoid paying taxes.

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Unemployment unchanged by stimulus projects

Unemployment unchanged by stimulus projects: "

A federal spending surge of more than $20 billion for roads and bridges in President Barack Obama's first stimulus has had no effect on unemployment rates, raising questions about his argument for billions more to fill an 'urgent need to accelerate job growth.' An Associated Press analysis of stimulus spending found that it didn't matter if a lot ...

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linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Economists overlook 'Same Store Bias'--misconstrue December Retail Results

Commerce Department Says Retail Sales Tanked in December: "

According to the Commerce Department, retail sales were negative in December. This is much bleaker data than the same-store sales comps that came out a week ago. The decline was not what economists had expected. Sales were expected to rise 0.5 percent according to economists surveyed by Marketwatch.

The only silver lining here is that retail trade sales were up 5.9 percent over last year. So this December did mark an improvement over last year’s disastrous holiday shopping season. However, a look at business breakout reveals that the types of retailers that shopping center owners rely on had the weakest performance. The best year-over-year seasonally adjusted performers were gasoline stations (+33.6 percent), nonstore retailers (+10.6 percent) and auto and other motor vehicle dealers (+7.6%).

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for December, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $353.0 billion, a decrease of 0.3 percent (±0.5%)* from the previous month, but 5.4 percent (±0.5%) above December 2008. Total sales for the 12 months of 2009 were down 6.2 percent (±0.2%) from 2008. Total sales for the October through December 2009 period were up 1.9 percent (±0.3%) from the same period a year ago. The October to November 2009 percent change was revised from +1.3 percent (±0.5%) to +1.8 percent (±0.2%).

Retail trade sales were down 0.2 percent (±0.5%)* from November 2009, but 5.9 percent (±0.5%) above last year. Gasoline stations sales were up 33.6 percent (±1.5%) from December 2008 and nonstore retailers sales were up 10.3 percent (±1.7%) from last year.

But why were the numbers so far off? Economist Dean Baker had a post up briefly here that seems to be gone now that said economists don’t account for a bias in same-store sales metrics when thinking about retail sales. Moreover, he points out that the December numbers showed a weak result in the general merchandise sector, which isn’t a great sign for retail real estate.

He explains:

The big culprit in this drop was the general merchandise sector (department stores and Wal-Mart), which had a 0.8 percent drop. The likely reason that many economists missed this drop is that they continue to ignore the same store sale bias. There are many fewer stores this year than last. This means that even if overall sales were constant, sales in same stores would rise. This bias will gradually disappear as we move forward and the comparison month in the previous year looks worse, but for now it is still substantial.

Calculated Risk’s monthly take is here.

Click for larger image

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

CA Approves Stringent Statewide Building Code

CA Approves Stringent Statewide Building Code: "California approved the most stringent, environmentally-friendly building code in the United States that will apply to new commercial buildings, hospitals, schools, shopping malls and homes, reports USA Today. The new code, which won a unanimous vote by the California Building Standards Commission, will take effect in January 2011.
The new code, dubbed CAL Green, requires builders [...]"
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Recession Cuts Costs For Office Building Construction

Recession Cuts Costs For Office Building Construction: "Building costs are responding to the recession in nonresidential construction."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

San Gabriel Valley, Calif. Cities Look to Cash in on Stimulus Bonds

San Gabriel Valley, Calif. Cities Look to Cash in on Stimulus Bonds
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Architects: A Stimulus Success Story

Architects: A Stimulus Success Story: "When the economy tanked, long-term planning paid off for one D.C. firm."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Tulsa Area Shows Gain in Construction Jobs

Tulsa Area Shows Gain in Construction Jobs
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2010 Southeast Construction Outlook

2010 Southeast Construction Outlook: "The new year will likely bring considerably more pain to contractors and designers working in the Southeast Construction region, as firms focused on a still-declining commercial sector work off their thinning backlogs."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

The Scariest Retail Sales Chart Ever

The Scariest Retail Sales Chart Ever: "

This comes courtesy of The Business Insider. It contrasts drops in retail sales in various recessions and shows what we’ve experienced since late 2007 is unlike anything we’ve seen previously.

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Vacancies Rise, Rents Fall at Malls and Shopping Centers in the Fourth Quarter

Vacancies Rise, Rents Fall at Malls and Shopping Centers in the Fourth Quarter: "New data for the fourth quarter of 2009 shows continued erosion in fundamentals at neighborhood and community centers and regional malls."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Views on Commercial Real Estate’s 2010 Outlook

Views on Commercial Real Estate’s 2010 Outlook: "

It’s early January and the forecast pieces are out in force. Reuters, quoting research from CBRE, says we have to wait until 2011 before we see any growth in commercial real estate.

Time, meanwhile, calls commercial real estate a slow motion train wreck. That’s an interesting characterization of what’s going on. It’s a better turn of phrase than the oft-used “next shoe to drop” formulation. Commercial real estate has been dropping for well more than two years now. We’ve felt a great deal of pain already. There is more pain to come. But there’s not going to be some moment where it all clicks and everything just start collapsing. Moreover, I think it’s more likely than not that some winners begin to emerge amid the carnage. There are situations where you have properties that are not distressed in the conventional sense (i.e., vacant and not generating cashflow). You have properties that are distressed because they were overvalued and overleveraged. Some astute players are going to make a lot of money on those kinds of properties and I think that starts sooner rather than later.

A piece from the Associated Press concludes that it remains a tenant’s market in 2010. That seems a given. Vacancies are high. There’s not a lot of demand in any sector. Tenants that want locations are going to get sweet deals.

REITWrecks posted a pair of Bloomberg videos featuring Mort Zuckerman and Barry Sternlicht. The blog adds some of additional commentary to the mix. Zuckerman thinks major markets may have bottomed. Sternlicht, meanwhile, thinks the deep involvement of the government in commercial real estate–and rules that are enabling banks from realizing losses on commercial real estate–are keeping things in a holding pattern. REITWrecks concludes the post with the witty line: We’ll all be better off when the government tells the banks to just “confess that we made a mess”.

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Construction Unemployment Rate Rises to 22.7% in December

Construction Unemployment Rate Rises to 22.7% in December: "Industry's jobless rate is worst in at least a decade."
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NEARLY ONE IN FOUR CONSTRUCTION WORKERS ARE UNEMPLOYED AS INDUSTRY LOSES ANOTHER 53,000 JOBS IN DECEMBER

NEARLY ONE IN FOUR CONSTRUCTION WORKERS ARE UNEMPLOYED AS INDUSTRY LOSES ANOTHER 53,000 JOBS IN DECEMBER: ""
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Retailers Hit a Home Run in December

Retailers Hit a Home Run in December: "

After a weak November, retailers bounced back in a big way in December. ICSC, Retail Forward, Retail Metrics and RetailSails have all done the math in comparing results from various chains and the verdict is that many retailers had a very merry Christmas and largely beat expectations. Retail Forward, Retail Metrics and RetailSails concluded that same-store sales jumped 3.0 percent in the month while ICSC’s figures showed a 2.8 percent improvement. That made December the best month for retailers since July 2008 or April 2008, depending on whose numbers you look at.

ICSC’s tally shows that same-store sales rose 2.8 percent in December, the third time in four months that ICSC’s index has risen. The result is a nice rebound from the 0.3 percent drop in December. Overall, ICSC says the two-month figure for the holiday shopping season showed a 1.8 percent gain in same-store sales. The numbers beat ICSC’s initial projections, which predicted about a 1 percent increase for the November/December period.

ICSC’s numbers are based on 33 retailers. In the commentary in its monthly report, ICSC said:

The holiday season’s sales began slowly, but spending finished strongly as consumers were completing their holiday‐gift shopping later than last year (and later than in recent years for which ICSC has surveyed consumer spending patterns).

…

Of particular note in December were strong sales for toys (noted by Toys R Us‐‐domestic comps rose by 4.6%, Target and Kmart, for example), electronics (noted by Target) and footwear (noted by Target, Bakers Footwear‐‐which posted a 9.9% comp‐store sales gain‐‐and JC Penney, for example). By segment, luxury‐department store sales soared by 7.1%‐‐helped by a promotional shift at Saks‐‐but that was the strongest segment performance since November 2007 (+11.4%).

Here are ICSC’s results going back to 1993.

(Click for larger image.)

According to Retail Forward, sales-weighted same-store sales excluding Walmart increased 3.0 percent in December for the 32 retailers that reported numbers. (A pdf with each retailer’s results can be downloaded here.) Frank Badillo, senior economist at Retail Forward, said in a statement, “The trend through the holidays is now pretty clear that shoppers are moving toward stronger spending into 2010. But it’s also clear that ­some cautiousness will persist and that spending will remain uneven across categories and retailers.”

Retail Metrics, meanwhile, reported that same-store sales increased 3.0 percent–the single biggest same-store sales gain that the firm has measured since April 2008. Combined for November and December, Retail Metrics’ calculates same-store sales rose 2.2 percent. The December results are 120 basis points better than it had been projecting. Retail Metrics’ numbers include 30 retailers. Of those, 14 posted gains, one had flat sales and 15 posted same-store sales declines.

According to the firm’s monthly report:

A last minute sales surge saved the day prior to and immediately following Christmas. Just as important were the slew of positive pre-announcements on 4Q earnings that came from retailers that were able to keep promotions in check and maintain all-important margins. Retailers are currently expected to post a 28.5% 4Q09 earnings gain, which will most certainly be revised upward. An impressive 72% beat expectations while just 28% missed, much better than long term averages.

RetailSails reached the same conclusion as RetailMetrics and says same-store sales rose 3.0 percent in December. The blog’s figures include numbers from 32 different retailers.

Retailers turned in a stronger-than-expected sales performance in December, as better inventory management and less promotional activity helped drive the best same-store sales results since April 2008. For the 32 companies RetailSails tracks, preliminary results show total sales rose 5.4% in December to $52.11 Billion, while same-store sales increased 3.0% compared to a 3.8% plunge in the year-ago period.

Here’s one chart from the post, but there are more here.

(Click for larger image.)

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Further Decline in Nonresidential Construction Activity Expected in 2010

Further Decline in Nonresidential Construction Activity Expected in 2010: "According to the American Institute of Architects’ (AIA) semi-annual Consensus Construction Forecast, nonresidential construction spending is expected to decrease by 13.4% percent in 2010

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Commercial Real Estate Slumps in New York

Commercial Real Estate Slumps in New York: "Vacancy rates have been rising, and prices have been falling since the 2007 market peak. One expert says it hasn’t hit bottom yet.




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Canfor shutting sawmill in Quesnel

Canfor shutting sawmill in Quesnel: "

The pine beetle is being singled out as the main reason a Quesnel sawmill is shutting down, laying off 180 workers.

"
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Q&A: Metal Connectors and Galvanized Coatings (JLC January 2010)

Q&A: Metal Connectors and Galvanized Coatings (JLC January 2010): "Q: Can standard galvanized Simpson STHD strap-tie hold-downs be used in contact with ACQ plates and framing? We've been schooled by our local building officials to avoid placing anything but stainless steel or heavy-duty hot-dipped galvanized metal connec"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Matchmaking for Construction

Matchmaking for Construction: "Recessions may mean hard times for businesses, but they also are mothers of invention. Entrepreneurs head for their garages and workshops, and business types get busy thinking up new ways to compete."
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600

Upward Pressure on Lumber Prices Mounts

Canfor curtailing production at B.C. sawmill, laying off 180 employees: "

Lumber producer Canfor Corp. says it will temporarily lay off 180 employees as part of a production curtailment at its sawmill in Quesnel, B.C. The duration of the layoffs, effective Jan.

"
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CONSTRUCTION EMPLOYMENT DECLINES IN 324 OUT OF 337 CITIES AS CONSTRUCTION SPENDING HITS 6-YEAR LOW, NEW NOVEMBER DATA SHOWS

CONSTRUCTION EMPLOYMENT DECLINES IN 324 OUT OF 337 CITIES AS CONSTRUCTION SPENDING HITS 6-YEAR LOW, NEW NOVEMBER DATA SHOWS: ""
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U.S. Companies Expand by Most Since 2006 in Sign Recovery Is Gaining Speed

U.S. Companies Expand by Most Since 2006 in Sign Recovery Is Gaining Speed: "

Companies in the U.S. expanded in December at the fastest pace in almost four years, signaling the economic recovery is gaining speed heading into 2010.

"
linked to you by Tim McCarthy P.E., Engineered Framing Systems, Inc.,(805) 807-7600