McDermott board brings on bankruptcy experts
Construction Dive
NOVEMBER 26, 2019
The move comes ahead of a deadline to receive a rescue financing package and follows the resignation of the company's Chief Financial Officer.
Construction Dive
NOVEMBER 26, 2019
The move comes ahead of a deadline to receive a rescue financing package and follows the resignation of the company's Chief Financial Officer.
Contractor Bookkeeping
SEPTEMBER 3, 2021
Your finances are negatively affected, and it's up to you to lead the recovery. Almost all business sectors have experienced declining profits, liquidity that is drying out, and even bankruptcy. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same.
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Constructonomics
MAY 2, 2014
Of course we fronted large amounts of money for labor and materials that we were now looking to finance because payment was not being made. I also know that the school district won’t dissolve all of a sudden or declare bankruptcy. We pretty much had every asset in the company thrown into the project so there was nothing left.
Green Building Law Update
SEPTEMBER 21, 2011
The result: two weeks ago, Solyndra announced bankruptcy. In 2007, the Destiny USA project qualified for $238 million in tax-free financing through the Green Bonds program. Since receiving the loan, the price of solar panels has plummeted - good news - which has squeezed the margins of manufacturers like Solyndra.
Contractor Bookkeeping
AUGUST 6, 2014
Getting back to financing strategies for your contracting Company it will help if you understand the banking version of The Construction Specifications Institute. One of the keys to getting a banker, lender or bonding company to consider your construction company for financing is the way your financial statements are presented.
Contractor Bookkeeping
NOVEMBER 3, 2012
The remodel contractor uses a form of "Cost Plus" or "Not To Exceed" to provide the homeowner with scope of work and a contract price the bank needs in order to finance the construction. I spent a few years in residential remodeling and it did not take long to learn that new construction behavior does not work in residential remodeling.
PSMJ Resources
OCTOBER 7, 2008
Some of these problems are simply a failure of supposedly responsible individuals not following long established and fundamental financing practices. One of the basic rules in financing any purchase is that you match the length of the financing to the usable life of the assets. The simplest example is car financing.
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