Terex Hired 500 Workers in Washington in First Quarter

CEO Ron DeFeo says Genie's business is growing as firms replace lifts, but real recovery will wait until Congress starts planning infrastructure for future American commerce

Ron DeFeo, CEO of Terex Corp., discusses the economic impact of an uncertain infrastructure future on Bloomberg Television's 'InBusiness with Margaret Brennan.'
Ron DeFeo, CEO of Terex Corp., discusses the economic impact of an uncertain infrastructure future on Bloomberg Television's "InBusiness with Margaret Brennan."

Terex Corp. hired about 500 workers at Genie's Redmond and Moses Lake, Wash., plants during the first quarter to meet demand from customers replacing aging machinery.

"This is a replacement market," CEO Ron DeFeo said in an interview on Bloomberg Television's "InBusiness with Margaret Brennan."

DeFeo's thrust in the interview was to decry SAFETEA-LU extensions and to suggest he would support the Senate's two-year Highway Bill.

"But what we really want is for our policy makers to start thinking like they're planning for our society's future, and for the commerce required for the next 10, 20, 30 years," DeFeo said. "And to do that, a 6-year highway bill is always what we've expected."

(See Bloomberg TV's Ron DeFeo interview . . . )

Latest