A notable interview by Reuters with Ron DeFeo, chairman of Terex. From “INTERVIEW-Terex CEO backs Oberstar transport bill“:
CHICAGO, Oct 19 (Reuters) – The top executive of Terex Corp , the world’s third-largest maker of construction and mining equipment, criticized the Obama administration on Monday for failing to back a bill that would nearly double federal spending on the U.S. transportation system, saying the measure was needed to modernize the country’s crumbling infrastructure and combat high unemployment.
In an interview with Reuters, Ron DeFeo, Terex’s chairman and chief executive, said current U.S. spending on roads, bridges and rails was putting the country at a competitive disadvantage to rivals like China.
“The country’s infrastructure is in a terrible state and it’s getting worse,” DeFeo said. “We are not the most modern society when it comes to moving people and products around… The Roosevelt administration built dams. Eisenhower built roads. We’re filling potholes.”
We note that Thomas J. Riordan, president and COO of Terex, is a member of the NAM’s board of directors.
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