Fitch anticipates good things for non-residential construction in 2014
The latest Fitch Ratings report sees a pick-up for the non-residential construction sector, beginning this year but accelerating in 2014.
Fitch expects private non-residential construction to grow 2% in 2013 and 5% in 2014 thanks to increased lending and CMBS issuance. Meanwhile, public construction spending is predicted to remain largely stable this year and grow 3% in 2014.
"Institutions will continue to be selective in their lending activities in the near term, which will likely moderate growth in commercial construction," said director Robert Rulla. Regarding public construction spending, a new highway bill adds leverage for growth, but "it will take some time to start larger, longer term projects so the benefits of the new highway bill will be more evident next year."
The company stated that demand and financial performance will vary among markets and building materials companies, though weak spending will be a potential problem where public infrastructure is concerned.
Zerorez sues Distinctive Cleaning
Minnesota carpet cleaning service Zerorez is filing a lawsuit against its competitor, Distinctive Cleaning, for a litany of complaints that include trademark infringement, false advertising and deceptive practices.
The federal lawsuit filed in the Minnesota District Court on Mon. referenced instances in which Distinctive Cleaning misled its customers regarding Zerorez’s patented technology, which claims to clean without leaving residue behind.
"We understand there’s a very high level of trust involved when a client invites us into their home, and we value and respect that trust," said Zerorez co-owner Michael Kaplan. "That’s why we are committed to doing everything we can to ensure that our clients will find true and accurate information about our patented Zerorez products and services online and elsewhere. At this point, it is unfortunately necessary that we take the next legal step to put a stop to the kinds of deceptive marketing practices that have been misleading our clients and the general public."
Distinctive Cleaning allegedly purchased Google AdWords advertising to appear at the top of search results for carpet cleaning services in the Twin Cities metro region, as well as the keywords "ZEROREZ," "Zerorez" and "Zero rez." Some of its advertisements also included "ZERO REZ Carpet Cleaning," or alternatively, "Zero res – same results, less money."
A cease and desist letter was sent in April of last year but went unanswered; according to Zeroez.
Vivint welcomes David Bywater as new COO
Home technology services provider Vivint has appointed a new COO. Informed by 20 years of management and consulting experience, David Bywater will be overseeing the daily operations of the company.
"We are excited to welcome David to our team," said Vivint’s president, Alex Dunn. "He has been extremely successful taking organizations to the next level. And because innovation and growth are trademarks of Vivint’s culture, we felt his expertise and skillset were the perfect fit for our company as we continue to expand."
Previously, Bywater worked at Affiliated Computer Services for 10 years, where he ran many of its business units. His most recent role was at Xerox as executive VP and corporate officer.
"This is a dynamic technology company with ambitious goals and a fantastic track record," says Bywater. "I’m excited to be a part of this exceptional executive team and to contribute to Vivint’s continued success."