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Industry Beat Highway Program "Year Zero" Could Cost Equipment Industry $2.3 Billion, Threaten 3,700 Dealership Jobs The crisis facing the federal highway program will send shockwaves through the construction equipment industry. That was the message Associated Equipment Distributors (AED) Vice Chairman Tim Watters had for attendees of a July 26 press conference organized by Senate Environment & Public Works Committee Chairman Barbara Boxer (D-Calif.) to draw attention to the highway funding crisis. Federal surface transportation programs are facing an unprecedented crisis. According to data recently released by the Congressional Budget Office (CBO), in FY 2015 the Highway Trust Fund (HTF) will be unable to support any highway or transit spending, jeopardizing more than $50 billion in annual investment. The potential loss of almost $36 billion in core annual highway investment alone would take an enormous toll on the equipment industry. AED estimates the HTF "year zero" scenario will cost the equipment industry $2.3 billion in lost market activity and threaten more than 3,700 dealership jobs. "For me, those numbers aren't abstract, they're terrifying," said Watters, who is president and CEO of Hoffman Equipment in Piscataway, N.J. "Those are my Tim Watters employees, my coworkers, my colleagues, and my friends, and they could very well find themselves out of work if Congress doesn't get its act together and solve this problem." Watters said AED would stand with Chairman Boxer as she works with her House and Senate colleagues to put the HTF back on solid fiscal footing. AED's projection of the state-by-state equipment market and jobs impact of looming highway funding cuts is available at www.aednet.org. Whayne Supply Company Celebrates 100 Years in 2013 Whayne Supply Company, one of the nation's oldest and largest Caterpillar dealerships, is celebrating its 100th anniversary in 2013, with centennial commemorations spanning throughout the year. The company will highlight key moments in its history, host events for employees and customers, and conduct a series of community service projects. The celebrations and community service events will take place in the company's hometown of Louisville and each of its branch cities in Kentucky and southern Indiana. The events will serve as a way to recognize and thank the customers and employees who have helped make Whayne Supply Company successful over the past century. Whayne Supply Company was founded in 1913 by Roy C. Whayne Sr., who ran his one-man operation selling light engines, pumps, wheelbarrows and bicycles. Whayne began its long-term association with Caterpillar in 1925 and has steadily grown to serve new markets and customers. The company is now owned by Monty Boyd, who became president in 2005 after serving in various roles at Whayne Machinery kicked off its 100 Year celebrations at an open house event held in Louisville, Ky. Whayne for 25 years. Under his leadership, Whayne has grown to employ more than 1,300 people and operates 15 facilities in 12 cities across Kentucky and southern Indiana. "We are privileged to have outstanding, loyal customers and this year we want to take the opportunity to thank them for their continued confidence," said Boyd. "As we look to our next 100 years, our commitment will continue. Our company has always delivered quality products, superior support services, and the highest ethical standards. That's a model we plan to continue into our next 100 years," he said. Oregon Legislature Approves VMT Tax Oregon's state legislature recently passed legislation creating a voluntary program to collect user fees based on the distance driven by motorists in place of a pergallon gas tax. The bill (S.B. 810), expected to be signed by Democratic Gov. Kitzhaber, allows up to 5,000 drivers to pay 1.5 cents per mile driven and receive a refund for the gas tax paid at the pump when they refuel. The revenue from the program would go toward the State Highway Fund to help offset declining gas tax collections that have resulted from improved fuel efficiency, more hybrid and electric cars, and declining purchasing power because of inflation. AED has long urged lawmakers to find alternative revenue streams to ensure the solvency of the federal highway program. 14 | www.cedmag.com | Construction Equipment Distribution | September 2013 14_industry beat_KP.indd 14 8/28/13 12:39 PM