From the category archives: Business

Business

A Win-Win Vision

Today, Goodrich occupies the office of the president at Gaylor Electric, a position he has held since 2014. The office itself tells quite a story: It is covered floor to ceiling in pictures, plaques and memorabilia highlighting everything from Indiana sports teams to company and family achievements, past Republican presidents and a love for ABC. This year, his passion for merit shop construction is widening in scope as ABC’s national chairman. 

Rigging Supplies: New Model Speeds Delivery and Selection

Frequently, purchasing rigging equipment is left to the last minute, either because it is an afterthought or because it is unclear what specifications the rigging requires for the job. To help make construction professionals more competitive, proactive rigging suppliers are offering a more responsive purchasing model. 

Proposed Death Tax Increase Targets Family-Owned Businesses

The U.S. Department of the Treasury issued proposed regulations targeting the valuation practices of family-owned businesses that would lead to dramatically higher estate and gift taxes by eliminating the use of discounts currently permitted.

Medical and Benefits Costs Are Top Concerns

Fifty-six percent of construction businesses surveyed for the 2016 Travelers Risk Index report they worry most about medical cost inflation and legal liability, followed by rising employee benefits costs and broad economic uncertainty. Rounding out the top eight construction business concerns are attracting and retaining talent, employee safety and workplace violence, legal and regulatory compliance, and cyber risk and data breaches.

Preliminary Injunction Granted Against ‘Blacklisting’ Final Rule

On Oct. 24, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction that prevents the Federal Acquisition Regulatory (FAR) Council from implementing the Fair Pay and Safe Workplaces final rule, commonly referred to as the blacklisting rule, which was scheduled to go into effect on Oct. 25.

How Do the Employee Benefits You Offer Aid Retention and Curb Turnover?

We could have the best programs in place, but if our employees can’t navigate the plan, it hurts them and our bottom line. Our internal benefits team provides education, claim assistance and even billing negotiations. 

Surety Bonds, LOCs and Parental Guarantees: What’s the Difference?

To address the security need, owners and contractors can be faced with a choice between traditional surety bonds and letters of credit (LOC). Additionally, parental guarantees are often included as a supplement or substitute for the security. These alternatives have unique implications that should be considered by contractors and owners when choosing the best path.

Sureties Hungry for Business Across Market Sizes

Construction Executive surveyed top leaders in the surety bonding industry to create a big-picture view of the current state of the market. Overall, the news is positive for contractors. Experts say construction and surety market cycles have been strong, creating increased competition. 

Preparing for the First Contractor-Surety Meeting

Successful contractors spend time and effort establishing their first surety company relationship. Contractors that want faster answers and the benefit of the doubt from their surety in a delicate situation will always welcome face-to-face visits with their professional agent and underwriter. 

Inside the Mind of a Surety Bond Underwriter

It is truly amazing how much risk contractors take on a daily basis for a seemingly modest return. Likewise, for the surety underwriter—which is, in fact, guaranteeing the contractor’s work—a tremendous amount of trust is involved.

 

Three Contract Options for Differing Site Conditions
The only limit the parties have in drafting a site conditions provision contract...

Stay Ahead of the Contractual Curve
Construction is a risky business and so is predicting the future. Looking forward...

Construction’s Cybersecurity Challenge
In today’s evolving information technology world, addressing security risks...

A Small Team With a Big Heart for Service
“While it may not be large amounts of monetary donations, we are often called...

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