Kiewit Business News

eomaha · Post by **eomaha** » Thu Jan 20, 2005 9:04 pm

Omaha World Herald wrote: Kiewit earnings for 2004 reportedly increase 9%

Peter Kiewit Sons' Inc. earned $171 million in 2004, according to preliminary estimates announced by Kiewit Chairman Ken Stinson at the company's annual meeting.

The Omaha-based construction and mining giant's estimated performance for the fiscal year ended Dec. 25, 2004, increased 9 percent over last year's earnings of $157 million, according to a report filed Wednesday with the Securities and Exchange Commission.

Revenues for the year decreased slightly to $3.28 billion, down about 3 percent from last year's revenues of $3.38 billion.

The price of Kiewit's common shares was estimated to have risen to $37.45 for 2004, up 14 percent from last year's price of $32.85.

Because Kiewit is a privately held, employee-owned company, share value is calculated based on a formula.

The company employs 4,000 salaried workers and 10,000 craft workers. About 40 percent of its salaried workers hold shares in the company.

Stinson announced the estimated figures in a speech given to Kiewit employees attending the company's annual meeting in Omaha on Jan. 14.

The figures, reported in the SEC filing, are preliminary and unaudited. They will be updated and made official when the company files its annual report in February.

A spokesman for the company declined to comment on the filing.

eomaha · Post by **eomaha** » Mon Feb 28, 2005 8:11 pm

$201 million... that would build a nice new tower downtown.

... and just 2 1/2% of that... would make for a nice gesture towards a beautiful Missouri River pedestrian bridge.

Omaha World Herald wrote: Peter Kiewit Sons' sees largest profit in 5 years

By building big bridges, big highways and rebuilding after the big storms that hit Florida in 2004, Peter Kiewit Sons' Inc. recorded its largest profit in five years.

For the fiscal year ended Dec. 25, profits at the Omaha-based construction and mining giant rose 28 percent to $201 million, or $6.38 per share, up from last year's $157 million, or $5.18 per share.

The final figure exceeded a preliminary earnings estimate of $171 million, which Kiewit Chairman Ken Stinson cited at the company's annual meeting in Omaha in January.

Revenues shrank slightly in 2004 to $3.35 billion, down from last year's $3.38 billion. It was the fifth year in a row that revenues have decreased.

Kiewit's construction operations accounted for 97 percent of revenues with $3.26 billion, of which 74 percent came from public construction contracts.

The company's mining division accounted for 3 percent of revenues with $87 million.

Kiewit shares are privately held by employee-owners and are valued using a formula because they are not publicly traded on a stock exchange. The shares appreciated 18.6 percent last year, rising to $38.50 in 2004 from $32.45 in 2003.

The total value of redeemable shares outstanding in 2004 exceeded $1.33 billion, up from $1.11 billion last year. The shares are held by the company's 1,602 shareholders.

The company also paid a 45 cent per-share dividend in 2004.

Kiewit valued its backlog of contracts at the end of 2004 at $3.5 billion. Since then, it has won two more major contracts valued together at $1.1 billion.

The value of Kiewit's total assets increased to $2.2 billion in 2004. The company added $196 million to its cash reserves, which totaled $696 million at the end of 2004.

Swift · Post by **Swift** » Mon Feb 28, 2005 9:14 pm

What's with all the sad faces?

Also, in talking to someone "in the know" about devlopments in Omaha...he seemed pretty confident that the Pedestrian Bridge will have enough money while at the same time enforming me that Fahey is worth around $100 million.

DTO Luv · Post by **DTO Luv** » Mon Feb 28, 2005 9:44 pm

I hope the bridge is still on. I think people will stop complaining about it once it gets done.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Mon Feb 28, 2005 10:43 pm

I think the sad faces are to say, "Jesus Christ!!!!! They have $696 million dollars and no plans for a shining new downtown tower????????!!!!!!!!!!!!"

just paraphrasing....

OmahaRules · Post by **OmahaRules** » Mon Feb 28, 2005 11:09 pm

Where do they work out of? How many people are employed in Omaha from them? Do they really need a big tower?

Adam · Post by **Adam** » Tue Mar 01, 2005 9:15 am

They have a building around 40th and Farnam... a bit Southwest of Mutual of Omaha. They work out of the same building as Berkshire Hathaway.

Not really sure if Kiewit is pressed for aquiring new space... leading me to ask the same questions. How many do they employ? Do they really need more space, seeing how the building they work out of is fairly large?

DTO Luv · Post by **DTO Luv** » Tue Mar 01, 2005 5:14 pm

You know what all of the F500 companies have really lackluster HQ's. UP isn't that great. Mutual is too 70's, Conagra

, and since Kieiwt and Warren don't emplot as many people they could at least have a better looking building.

OmahaRules · Post by **OmahaRules** » Tue Mar 01, 2005 5:44 pm

I read a book once that seriously equated huge buildings to the downfall of companies. Look at the Sears tower it was huge and at the time so was Sears...now look at Sears? Not saying its true but thats at least one good point I'm sure there are more.

eomaha · Post by **eomaha** » Tue Mar 01, 2005 6:27 pm

Not being a member of the height obsessed club... I was, light heartedly, suggesting that Kiewit build a new downtown tower.

Of course most of these corporate scrapers have a significant amount of sublet space... case in point the First National Center. Once the vacancy situation improves... a Kiewit tower with space to sub-lease would be a perfect addition to downtown. A re-structured Level 3 can take up residence at their midtown building.

MTO · Post by **MTO** » Tue Mar 15, 2005 10:20 am

It would be awesome if they would build a new DT tower but if they don’t, at least add on to PKI. It sure would be nice if we had some more room up there. Maybe one day the underclassmen won’t have to take calculus at UNO….

OhioStreetKid · Post by **OhioStreetKid** » Fri Apr 22, 2005 7:29 pm

This article is just for my counterparts in the height-obsessed club.

Kiewit Conference Center

Actually, I agree With the H.O.C. on this one, such an awesome location, and such a poor choice of a builiding for this site.

omahastylee459 · Post by **omahastylee459** » Fri Apr 22, 2005 7:36 pm

i wish they would just tear the place down and add a nice new building, I hate seeing prime real estate right in the heart of downtown going to a 3 story building, but i know it probably would never happen in the near future considering the redevelopment going on elsewhere and the vacancy rate

Swift · Post by **Swift** » Sat Apr 23, 2005 1:27 am

considering this is a state owned building, I see no reason that this shouldn't be torn down and turned into a midrise or high rise hotel. What an ugly building and a huge waste of space.

the old market will not be able to expand until this building is torn down. it is ugly.

FatGuy · Post by **FatGuy** » Sat Apr 23, 2005 8:48 am

Old Market- Expansion.............Oxymoron.

projectman · Post by **projectman** » Sat Apr 23, 2005 2:18 pm

I think we need to wait to see if anyone builds on the old UP site, Pinnacle, Butternut and other vacant lots before we worry about the Kiewit Center. It is a huge waste of space for an urban center but we have too many other vacant spaces to worry about before we make another one. At least it is being utilized downtown and not vacant.

Swift · Post by **Swift** » Sun Apr 24, 2005 12:56 pm

Agreed. I actually hope it stays there until I get into the development game, which won't be for about 8 or 10 years at the soonest.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Sun Apr 24, 2005 3:50 pm

For the purposes of building a brand new skyscrapera, I'd much rather see this thing go than the old UP building.

God, what a horrible, horrible, horrible, horrible, horrible waste of land and what a mistake to build that POS. I can't believe the article refered to it as being one of the first "urban renewal" projects in Omaha. It really speaks to that era being a sad one in American history when a building like that was considered "urban renewal".

Zephyr · Post by **Zephyr** » Sun Apr 24, 2005 4:08 pm

Considering what was there before, the current structure is really underutilized space.

Here's a throwback:

omahastylee459 · Post by **omahastylee459** » Sun Apr 24, 2005 4:22 pm

when was that sketch made? and what year was that last photo taken? The landmark center hasnt even been built yet

OmahaDevelopmentMan · Post by **OmahaDevelopmentMan** » Sun Apr 24, 2005 4:41 pm

Its depressing how often cities tore down historic landmarks in during the late 70s-80s. Now days, if someone even considers tearing down a couple of little 2-3 story buildings (a few years ago by holland center) the whole city is up in arms. Too bad people didn't do that back then or we'd have a different 4th tallest building in the city.

I wonder if anyone would ever consider reconstructing the building with modern techniques while using the same plans. That would be cool.

Zephyr · Post by **Zephyr** » Sun Apr 24, 2005 7:49 pm

That sketch was in the 1971 Omaha CBD Plan, downtown's latest plan. The postcard is from the early 80s. Notice the old World Theatre, where UP is today, is still up, with the mural on the side.

On the back it says:

Where shall we meet?
Obviously Omaha - A Rare Treat

nativeomahan · Post by **nativeomahan** » Wed Apr 27, 2005 10:34 pm

It was a major debacle when they tore down the old skyscraper of about 17 stories to build the ugly 3 story Keiwit building. The place is a dump. A good example of "dumbing down" if there ever was one.

Of course, it pales in comparison to the destruction of Jobber's Canyon. That is one for the nation's historic record books. There could have been hundreds of condos where now there is basically nothing.

DTO Luv · Post by **DTO Luv** » Thu Apr 28, 2005 3:59 pm

They should tear this |expletive| box down. Even if it does fill up that's 22,000 sq ft. of office space that could be taken up elsewhere. Plus the fact that it's state offices makes me even madder that it's there. It would be a better spot left empty or grassy. A hotel would be nice.

OmahaJaysCU · Post by **OmahaJaysCU** » Mon Jan 02, 2006 10:51 pm

I was watching the Fiesta bowl today, and they showed a clip of the new Arizona Cardinals stadium and there was a nice big Peter Kiewit sign in front. This is a huge gig for kiewit, I can't remember the price tag on this one, but its a big one.

MTO · Post by **MTO** » Mon Jan 02, 2006 10:59 pm

Awesome so it appears that CalTrans didn’t ruin Kiewit’s rep that bad… maybe some day they will make enough to build them selves a nice little 500-700 footer in DTO.

eomaha · Post by **eomaha** » Mon Jan 02, 2006 11:02 pm

I've been down here in the 'West Valley' since Christmas Eve and have passed by the new stadium several times now (just off their '101' expressway), and attended a Coyotes hockey game just next door as well (in their new Glendale arena which is of about the same size as the -to be expanded- Qwest Center).

The new stadium is just one piece of an enormous 'Westgate City Center' project the city of Glendale is building. It also includes their Cabela's store. It's too bad we couldn't have juist a tiny piece of this surrounding our Cabela's at Southport West.

Check out this site: http://www.westgateaz.com

MTO · Post by **MTO** » Mon Jan 02, 2006 11:04 pm

jhuston wrote:I've been down here in the 'West Valley' since Christmas Eve and have passed by the new stadium several times now (just off their '101' expressway), and attended a Coyotes hockey game just next door as well (in their new Glendale arena which is of about the same size as the -to be expanded- Qwest Center).

The new stadium is just one piece of an enormous 'Westgate City Center' project the city of Glendale is building. It also includes their Cabela's store. It's too bad we couldn't have juist a tiny piece of this surrounding our Cabela's at Southport West.

Check out this site: http://www.westgateaz.com

VERY humbling

...........

TitosBuritoBarn · Post by **TitosBuritoBarn** » Tue Jan 03, 2006 3:14 am

But also very suburban. These days the trend is to build new sports arena in the downtown area. Phoenix took theres out of downtown and put it in a suburb.

eomaha · Post by **eomaha** » Wed Jan 04, 2006 12:56 am

America West arena was just built back in the 90's... they didn't take it out of downtown... it is still an important piece of downtown Phoenix... still playing host to the Suns. The Glendale arena was more a case of the city of Glendale woo'ing the Coyotes ownership into coming to the west valley. As for football, I think these stadiums, which see just a tiny hand full of games in a season... have no place in urban settings... a huge waste of space.

eomaha · Post by **eomaha** » Wed Mar 01, 2006 9:19 pm

Pretty good chance we'll get our 5th Fortune 500 company back again this year.

Kiewit's revenue rose 23% to put it back over 4 billion. Good news going forward as well...

At the end of 2005, Kiewit had a $5.8 billion project backlog, compared to $3.5 billion at the end of 2004. The company also was named contractor for another $2.1 billion in projects that had not been officially awarded at the end of 2005.

http://www.omaha.com/index.php?u_pg=46& ... nd=6127898

DTO Luv · Post by **DTO Luv** » Wed Mar 01, 2006 10:34 pm

Great news! Now come on Werner and make it 6.

Coyote · Post by **Coyote** » Fri Aug 04, 2017 6:40 pm

Speaking of Kiewit...
They are taking over the top floor of the former Gordman's building in Aksarben Village.

Post by **Brad** » Fri Aug 04, 2017 8:27 pm

They sure don't seem to mind being spread out all over town. Any idea what department is moving there?

Training in North Downtown, HQ in Blackstone, IT out in Millard at the old western electric building, and now this in Aksarben

Coyote · Post by **Coyote** » Fri Aug 04, 2017 8:51 pm

Brad wrote:Any idea what department is moving there?

Inquiring...

debradomayer · Post by **debradomayer** » Fri Aug 04, 2017 10:40 pm

According to my sister, who works at Kiewit, the "Underground District" (Mining) has already moved there. They were displaced from the water main break at the Blackstone a month or so ago. PKS will probably sell the Blackstone once the repairs are done which could take a year or so. Some folks went to work at the Plaza and some went to KBS (Kiewit Business Services) at the old Western Electric. Unknown where they will go if they sell the Blackstone. Maybe lease it back, who knows

iamjacobm · Post by **iamjacobm** » Sat Aug 05, 2017 9:23 am

debradomayer wrote:According to my sister, who works at Kiewit, the "Underground District" (Mining) has already moved there. They were displaced from the water main break at the Blackstone a month or so ago. PKS will probably sell the Blackstone once the repairs are done which could take a year or so. Some folks went to work at the Plaza and some went to KBS (Kiewit Business Services) at the old Western Electric. Unknown where they will go if they sell the Blackstone. Maybe lease it back, who knows

My ideal would be turning the Blackstone into a 21C Hotel if Kiewit vacates the space.

https://www.21cmuseumhotels.com/

Coyote · Post by **Coyote** » Sat Aug 05, 2017 10:11 am

iamjacobm wrote:My ideal would be turning the Blackstone into a 21C Hotel if Kiewit vacates the space.

https://www.21cmuseumhotels.com/

Now, that would be awesome!

daveoma · Post by **daveoma** » Sun Aug 06, 2017 12:21 am

That is AWESOME! ! I told LOVE something like that. It would be perfect for Omaha. :-) :-) :-)

Post by **Brad** » Wed Nov 01, 2017 9:08 am

For the past year I have been following the Oroville Dam Spillway story. From its collapse, to evacuation, and now re-building. The California DWR has put out a couple videos each week and another guy on youtube also did update reports every week or so. Very interesting to watch how they put a mountain back together.

Kiewit got the contract to rebuild the spillway. The deadline was today, and they made it. Part of the spillway were completely rebuilt and another part is temporary. Any remaining temporary and original spillway sections will be rebuilt during the 2018 construction season. The for the next year, the spillway as is will operate with a max flow of 100,000 CFS, and after next year it will have a max flow of 270,000 CFS. To put that in perspective, the flow of the Missouri River varies between 60,000 and 100,000 CFS, and the Mississippi at St Louis varies between 100,000 and 300,000 CFS!

Kiewit is also building a new cutoff wall to protect the emergency spillway from erosion. That work will be done by the end of the year.

Below are a few videos showing some of the stages over the past year. Crazy how fast they went from disaster to completion.

This week - Completion of the spillway:
[youtube][/youtube]

This was last spring during the emergency. They start off showing the temporary armoring of the emergency spillway and then show the collapsed primary spillway.
[youtube][/youtube]

Here is a video from late June when a lot of the demo was done and rebuilding was getting underway.
[youtube][/youtube]