Construction Week

January 2005
ENR: Engineering News-Record;1/24/2005, Vol. 254 Issue 3, p7
Trade Publication
This article reports that the meeting and convention business is on the decline, and cities should reconsider plans to build more convention and related hotel space, says a new report by the Brookings Institution. Over the past decade, annual public spending on convention centers has doubled to$ 2.4 billion and convention space has doubled since 1990, says author Heywood Sanders. Foster Wheeler Ltd., New Jersey, is taking a$ 76-million charge to earnings in the fourth quarter after a ruling by a New York state trial court that New York law, rather than New Jersey's, applies in a lawsuit over the allocation of liability for asbestos-related personal injury claims involving some of the firm's subsidiaries.


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