U.S. Concrete's North Texas business unit, Redi-Mix Concrete, made a powerful statement during the Verizon IndyCar Series race weekend at Texas Motor Speedway. Redi-Mix began the weekend with a hiring booth at TMS' Fan Zone to recruit CDL drivers for their concrete and aggregates divisions. Driver positions have proved difficult to fill for many companies, so Redi-Mix took recruitment to the next level.
Bill Sandbrook, our CEO, was a guest on Fox Business Network’s Morning’s With Maria this morning. In the lengthy segment, which can be viewed below, Bill talks about the condition of infrastructure across the country and the significant need for Washington to no longer kick the can down the road when it comes to investing in infrastructure.
In the interview, he notes that:
- There are $4 trillion in infrastructure needs right now;
- The ASCE recently gave the country's infrastructure a D-plus rating;
- There are 56,000 structurally deficient U.S. bridges;
- The World Economic dropped U.S. infrastructure to sixteenth in the world from fifth;
- The Business Roundtable only rated four U.S. airports in the top 50 worldwide;
- U.S. motorists lose $523 annually in additional vehicle operating costs as a result of driving on roads in need of repair; and
- The gas tax hasn’t been raised since August 10, 1993 – prior to Amazon's existence!
U.S. Concrete CEO Bill Sandbrook was recently featured in the podcast "Dose of Leadership," a podcast that profiles leaders in business around the country. In the podcast, he explains how he was able to take a company recovering from bankruptcy into one of the nation's most crucial concrete suppliers.
This year’s National Ready-Mixed Concrete Association (NRMCA) National Mixer Driver Championship’s first prize was awarded to Edward "Eddie" Rieper. Eddie is a mixer driver for U.S. Concrete's New Jersey business unit, Eastern Concrete Materials. The competition was held last weekend at the Gaylord Texan Resort Hotel & Convention Center in Grapevine, Texas, in conjunction with NRMCA’s ConcreteWorks.
In the wake of Hurricane Harvey and its devastation, U.S. Concrete has been monitoring and communicating with our employees in the affected area. Our thoughts and prayers go out to the entire South Texas area affected by the storm, but we are happy to report that all U.S. Concrete employees are safe and accounted for. We had many employees impacted and we are still assessing what it will take to get each of them back to as normal life as possible.
Topics: U.S. Concrete
U.S. Concrete CEO, Bill Sandbrook, joined Maria Bartiromo on Fox Business to discuss potential economic impact of President Trump's infrastructure plan. The discussion revolves around Trump's recent press conference in which he unveiled an executive order that would help accelerate the approval process for infrastructure projects. Speaking to the media, Trump suggested burdensome regulations could stymie highway projects for as long as 17 years and cost hundreds of millions of dollars.
The executive order is a small step compared to the ambitious $1 trillion infrastructure plan announced as a primary goal during Trump's campaign and early presidency. While the status of the plan remains in relative limbo, Sandbrook is confident that cutting some of the red tape obstructing infrastructure projects is a move in the right direction. He noted the disparity in efficiency between the government's approach to infrastructure and private business.
As for how U.S. Concrete plans to fit into the proposed infrastructure plan, Sandbrook says these efforts are already underway on the private side. He cites recent projects with New York City's La Guardia airport as well as the Oakland Bay Bridge as notable examples (New York and Northern California are two of the company's primary areas of business). While infrastructure is top-of-mind for Congress and the U.S. government, it constitutes less than 20 percent of U.S. Concrete's business.
As of the present, much of the focus in Congress has centered around tax reform, but infrastructure will be among the many agenda items on the list once autumn arrives. As Sandbrook mentions, roughly 60,000 of bridges in the U.S. are deficient and in need of repair. Over time, these problems can and have become hazardous for Americans. Sandbrook hopes deregulation will help facilitate the repair of bridges under threat of becoming more structurally compromised.
You can watch the full video here.
U.S. Concrete CEO Bill Sandbrook took an enormous risk when he decided to accept a leadership role at the company not long after it had filed bankruptcy. The year Sandbrook took over, U.S. Concrete shares were valued at a meagre $2.
Today, U.S. Concrete shares are valued at more than $76.35. The turnaround of the business — in a span of less than six years — is nothing short of miraculous.
Bill Sandbrook, the president and CEO of U.S. Concrete, was interviewed by the Wharton School of Business at the University of Pennsylvania in an article titled “What Leaders Gain By Listening Closely to Their Employees.” The interview dives deeply into Sandbrook’s past, including his relationship with his father and his multiple years of service in the military.
When asked about early role models, Sandbrook quickly referenced his father. Like his son, Sandbrook’s father was also in the construction materials industry and worked on the operations side. Growing up, Sandbrook was able to gain a rare perspective on the inner workings of a concrete company and — more importantly — see his father’s leadership skills firsthand. He said he was especially inspired by his dedication to the safety of his employees and how he treated everyone — superiors and subordinates alike — with respect.
Topics: In the news
Fox Business' Maria Bartiromo interviewed our CEO, Bill Sandbrook, to discuss the future of U.S. infrastructure spending and the role U.S. Concrete will play given recent developments. The interview comes in the wake of Trump's statements hinting at a desire to partially or fully privatize parts of his infrastructure plan. While the details of the infrastructure plan continue to remain ambiguous, Sandbrook believes a combination of public and private funds will be used to tackle the U.S. infrastructure problem.
According to the American Society of Civil Engineers, America's infrastructure hovers around a D+, with no component of U.S. infrastructure receiving an "A" rating. This topic was one of many covered in the interview in which Sandbrook opined on potential solutions to the issue. He believes this is the beginning of a serious conversation about truly generating the funds needed to fix the current disarray of American infrastructure.
One of the issues brought by the Fox Business interviewers involved a concern regarding the amount of available workers for infrastructure jobs. Sandbrook confirmed these concerns, adding that a wage inflation and a lack of people willing to join the ranks of concrete truck drivers is one of U.S. Concrete's current bottlenecks. Wage inflation, he says, has gone up 5 percent when traditionally the rise would be 3 percent. Additionally, the need to acquire a specific license also increases the barrier of entry for a job he believes many people not working could take.
Then, when asked what infrastructure projects should take priority given the low infrastructure ratings, Sandbrook replied that anything related to the public's safety, such as faulty bridges, should be the first priority. Secondly, highways that could pose a safety risk need to be evaluated. Third, highways and roads should be constructed in major cities to alleviate traffic congestion.
Finally, Sandbrook discusses the current economic strength of his industry. The outlook for construction and infrastructure spend is currently promising, which is reflected by the rising value of the USCR stock price.
To watch the full interview, click on the video below.
Topics: In the news