Category Archives: Business News

Escrowed Payments May Leave Federal Subcontractors High and Dry

Excerpt from an article from the JD Supra Business Advisor: Companies providing products or services as subcontractors to prime federal contractors often struggle with how best to ensure prompt and full payments from primes. Prime contractors, particularly small business concerns, often struggle to manage competing cash flow demands with the result that subcontractors are left paid late or not at all. Including appropriate payment clauses in the subcontract is important but of limited value – ultimately they are enforceable only as contract claims that may need to be resolved in litigation. Continue Reading

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10 Little Reasons You’re Not Winning Clients or Getting That Big Job

Excerpt from an article from Entrepreneur: The reasons why people and companies get hired or don’t are remarkably similar. The big reasons, such as not being the right fit or being priced out of range, should be obvious and are generally handled quickly and easily, so there’s no point in covering them here. But many of the reasons people and companies don’t win jobs or deals tend to be small. However, since they affect whether one gets the job, and there’s no prize for second place, those little differences can lead to large consequences. Continue Reading

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The Looming Workforce Crisis and What You Can Do About It

Excerpt from an article from Training magazine: A global workforce crisis is approaching: an overall labor shortage plus a huge skill mismatch. Declining birthrates and increasing retirements will shrink the pool of available workers. Simultaneously, employers will see a dearth of highly skilled applicants. Continue Reading

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A Primer to Understanding Wrap-Up Insurance Programs

Excerpt from an article from the JD Supra Business Advisor: Whether you are a property owner, general contractor, or subcontractor, understanding wrap-up insurance programs—when to consider one, what they insure, and how they affect the project—is vital to a construction project’s success. From bidding to managing, a wrap-up insurance program can affect almost every aspect of a construction or renovation project. Continue Reading

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Tesla Now Working on Gigafactory Interior Plus Data Center, Permits Show

Excerpt from an article from the Reno Gazette-Journal: For the past year, the exterior facade of Tesla Motors’ Gigafactory 1 received most of the attention online, garnering plenty of images and video as it steadily rose amid the high desert just east of Reno. Continue Reading

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The Technologies Changing Construction

Excerpt from an article from Construction Executive: Technology is penetrating the construction industry in a big way, helping to remove inefficiencies and streamline the building process, according to CW Driver project manager Matthew Wilt, who recently led the construction of a LEED-targeted science building at Loyola Marymount. Wilt names Revit, Box.com and PlanGrid as the staple technology tools that are shaping the industry. Continue Reading

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Why Subcontractors Fail and What to Do About It

Excerpt from an article from Construction Executive: Subcontractor default is neither understated nor under-reported. Everyone in the industry is familiar with it and the consequences of the likely, yet always surprising, situation when a subcontractor defaults on a project. Continue Reading

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Preparing for the “Silver Tsunami”

Excerpt from an article from SmartBrief: While the millennial generation continues to enter the workforce in ever growing numbers, employers are confronted with another workforce challenge from the other end of the employee spectrum: the “silver tsunami” — that wave of maturing associates either preparing to exit the workforce or making the decision to extend their careers. Continue Reading

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Underinsurance of Property Risks is Growing Globally: Swiss Re Report

Excerpt from an article from Carrier Management: The underinsurance of property risk – particularly natural catastrophe risks – has risen steadily over the past 40 years, even though claims payments have increased significantly during that period, according to Swiss Re’s latest sigma study. Continue Reading

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Wrap It Up: How OCIPs and CCIPs Can Redefine a Commitment to Safety

Excerpt from an article from Construction Executive: The Department of Labor predicts the economy will add 1.6 million construction workers by 2022. Other surveys report midsize construction companies are increasingly optimistic about their revenue and hiring forecasts—predicting more than 5 percent employment growth for the next 12 months, which is more than twice the growth projected at the same time last year. Continue Reading

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