Issue link: http://read.dmtmag.com/i/340625
Industry Beat 14 | www.cedmag.com | Construction Equipment Distribution | July 2014 Honnen Equipment, the John Deere dealer headquartered in Commerce City, Colo., announced the June 9 dedication of its new, 60,000- square-foot, state-of-the-art facility in Salt Lake City, Utah. Pictured left to right: Travis Davis, Project Executive, Hughes General Contractors, Inc.; Patrick Leary, Deputy Mayor, Salt Lake County; Sara Welker, Member Relations Specialist, Salt Lake City Chamber of Commerce; Ca- milla Edsberg, President's Ambassador, Salt Lake City Chamber of Commerce; Mark Honnen, President, Honnen Equipment; Dave Kolesky, Utah Region sales manager, Honnen Equipment; Shawn Walker, Utah Region service manager, Honnen Equip- ment; Paul Rasmussen, Utah Region parts manager, Honnen Equipment; Rich Thorn, president, AGC of Utah AED Chairman Tim Watters, president of Hoffman Equipment, headquartered in Piscataway, N.J., joined Rep. Bill Pascrell and Sen. Robert Menendez in Cliffside Park, N.J., at a press conference June 2 in support of the Sustainable Water Infrastructure Act. (H.R. 4237/S. 2345). The bill, which would attract $5 billion annually in private capital for water infrastructure investment, lifts the state volume cap on private activity bonds for such projects. The legislation will spur economic growth and job creation in the construction equipment industry by generating as much as $6 billion in demand and supporting nearly 1,000 employees over the next decade, said Watters. Water infrastructure investment is a win-win for everyone, including the government. According to an AED-commissioned study by researchers at the College of William & Mary's Thomas Jefferson Program in Public Policy, investing $1 in sewer systems and water infrastructure generates $2.03 in tax receipts (including $1.35 for the federal government) over 20 years. "The time is long overdue for substantial investment in water infrastructure projects," said Watters. "The Sustain- able Water Infrastructure Investment Act will create jobs, protect the environment, and grow the economy nation- wide while improving the quality of life for New Jersey's residents and all Americans. The men and women of the construction equipment industry commend Rep. Pascrell and Sen. Menendez and urge immediate congressional action to enact this bipartisan legislation." AED Supports Sustainable Water Infrastructure Act Chairman Tim Watters underscored economic benefits at a June press conference with lawmakers. Sentry Again Rated as A+ Superior by Insurance Industry Authority Recently, A.M. Best, the industry's leading rating authority, reaffirmed Sentry's financial strength with an "A+ Superior" rating for Sentry Insurance (an AED Preferred Provider) and all insurance subsidiaries. This is the 23rd consecutive year the Sentry Insurance group achieved the superior rating. A.M. Best's rating is an independent opinion of an insurer's financial strength and the ability to meet its ongoing insurance policy and contract obligations. It is based on a comprehensive quantitative and qualitative evaluation of a company's balance sheet strength, oper- ating performance and business profile. Only 9.3 percent of rated Property and Casualty compa- nies are rated A+ or higher. EPA Unveils Climate Change Proposal On June 2, the Environmental Protection Agency (EPA) released details of a proposed rule that will require states to reduce carbon dioxide emis- sions from fossil-fueled power plants by 30 percent by 2030. The unveiling marks another attempt by the Obama administration to circumvent the legisla- tive process after climate change proposals stalled on Capitol Hill. States will be given flexibility to meet EPA's new standards (such as by implementing cap- and-trade regimes), but inaction will result in the agency stepping in. As expected, EPA's announcement was lauded by environmental and public health groups, but industry groups panned the proposal, citing higher electricity costs for businesses and consumers and jobs lost in the coal sector. AED is coordinating its response to the EPA proposal with allies in various Washington, D.C.-based coalitions. New Honnen Equipment Facility