The public construction firms to watch in 2020
Construction Dive
JANUARY 10, 2020
Risk reduction, deleveraging and even bankruptcy are on the table for some of the industry's top publicly traded companies this year.
Calif. Utility Giant Will Bury 10,000 Miles of High Fire-Risk Power Lines
ENR Construction
JULY 27, 2021
PG&E multi-year commitment to mitigation comes as it admits role in Dixie Fire start; effort could cost post-bankruptcy public firm $15-$20B and one research analyst notes high feasibility and permitting risks.
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California Utility Giant Will Bury 10,000 Miles of Fire-risk Power Lines
ENR Construction
JULY 27, 2021
PG&E's multi-year commitment to wildfire mitigation, which comes as it admits role in Dixie Fire start, could cost post-bankruptcy firm $15-$20 billion.
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$170 million down the drain: Lessons to learn from Quirky’s bankruptcy
Construction Marketing Ideas
OCTOBER 2, 2015
The quirky.com website (scrolling down from the bankruptcy notice at its top.) The bankruptcy notice. If you have limited resources, you are thoughtful about your costs, risks, and strategies. This business managed to blow $170 million in venture capital in less than seven years. Alas the idea didn’t work.
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In Bankruptcy, Utility PG&E Faces Big Spend to Cut Fire Risks
ENR Construction
FEBRUARY 13, 2019
California utility giant Pacific Gas & Electric Co. and seven smaller peers filed Feb. 6 to the state Public Utilities Commission their mandated 2019 plans for boosted infrastructure, technology and operations upgrades to respond to and prevent wildfires that have already devastated big parts of their service areas.
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Hang In There Revel Casino, Your Luck May Turn
Constructonomics
JULY 27, 2014
Basically, Revel Casino has 16 with the dealer showing a face card and after their second bankruptcy in less than 18 months, they need to take a hit. According to last month’s bankruptcy filing in Camden, NJ, their second in less than 18 months, the casino is bleeding $2 million a week, or $285,714 per day.
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Calif. Utility Giant Will Bury 10,000 Miles of Fire-Risk Power Lines
ENR Construction
JULY 27, 2021
PG and E multi-year commitment to wildfire mitigation, which comes as it admits role in Dixie Fire start, could cost post-bankruptcy firm $15-$20 billion.
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How To Reduce Risk On Construction Projects
ProcurementExpress.com
NOVEMBER 30, 2016
Do you know if any of your projects are at risk? A huge topic of discussion in the Construction Industry consistently, is the scope of financial risk on a construction project. Why do these financial risks take place. What can I do besides bankruptcy? How to reduce your projects risk. Improper planning.
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The First Green Building Litigation. The Rest of the Story.
Green Building Law Update
JULY 19, 2015
promissory note in favor of the contractor, does not tell the rest of the story, nor does the fact Shaw Development later filed for Chapter 11 bankruptcy protection in response to a foreclosure action by the project’s lender. tax credit certificate. And now you know the rest of the story.
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The First Green Building Litigation. The Rest of the Story.
Green Building Law Update
JULY 19, 2015
promissory note in favor of the contractor, does not tell the rest of the story, nor does the fact Shaw Development later filed for Chapter 11 bankruptcy protection in response to a foreclosure action by the project’s lender. tax credit certificate. And now you know the rest of the story.
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5 Success Factors for Construction Firms
Construction Marketing
APRIL 25, 2016
Ensure the entire team knows the objectives, risk, and expectations of a project. Executives receive necessary information to manage projects and minimize risk. It is not unheard of for a construction firm to face bankruptcy and fail because of a lawsuit. How it hurts the business: Reduced efficiency. Lack of collaboration.
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Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition
Autodesk Construction Cloud
FEBRUARY 1, 2024
Late payments and non-payments are, unfortunately, pivotal contributors to declining contractor productivity eventually, in some cases, leading to bankruptcy for many GCs and subcontractors. Increasing financial risk. High compliance risk. Moreover, manual payment processes also increase compliance risk. Why Payapps?
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How To Reduce Risk On Construction Projects
ProcurementExpress.com
NOVEMBER 30, 2016
Do you know if any of your projects are at risk? A huge topic of discussion in the Construction Industry consistently, is the scope of financial risk on a construction project. Why do these financial risks take place. What can I do besides bankruptcy? How to reduce your projects risk. Improper planning.
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Does a Lien Affect Your Credit Score?
Levelset
JULY 5, 2022
Credit bureaus can collect public information from state and county courts, including bankruptcies. EquiFax also provides three business scores: a payment index, a credit risk score, and a business failure score. How important each category is depends on the person and how long they’ve had a credit history.
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Modular Builder VBC On the Verge of $25-Million Buy for Katerra Assets
Pro Builder
AUGUST 3, 2021
Volumetric Building Companies (VBC) is in the final stages of a $25-million bankruptcy acquisition of Katerra’s former headquarters in Tracy, Calif. Tue, 08/03/2021 - 14:15. CEO Vaughan Buckley says VBC will reach out to some Katerra employees and customers. The southeast is an underserved and booming market for offsite modular construction.
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How Digitalization Is Reshaping the Construction Industry
BD+C
AUGUST 21, 2024
In 2012, the company declared bankruptcy, bringing an end to a monumental chapter in photography’s history. Digital Tools: Promoting Heightened Safety and Risk Mitigation There are several ways that digital technologies can improve the safety and risk mitigation of a construction site.
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How to Protect Your Business When Employees Get Poached
Pro Builder
MAY 27, 2022
COVID-19 Layoffs Heighten Risk. Hwang suggests employers take steps to minimize the risk their well-meaning inaction among laid-off employees may have by rationalizing their inactions, such as: . A decline in business from certain clients, or their bankruptcy.
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Ten Ways Emailing QuickBooks Contractor Files Invites Identity Theft!
Contractor Bookkeeping
NOVEMBER 3, 2012
A lot of contractors are told to email QuickBooks contractor data files to their tax preparer, bookkeeper or any number of places and continually put themselves at tremendous risk of identity theft or worse. Any network carrier can see the contents of your email. Secure File Transfer System Is The Answer.
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Guest Blog – 5 Common Misconceptions About Surety Bonds
Construction Law Monitor
APRIL 15, 2015
Due to this misinformation, many contractors either avoid projects requiring bonds, thus missing great work opportunities; or sometimes even operate without them, which jeopardizes their legal standing and puts their whole company at risk. A recent case of this is the bankruptcy of the 105-year-old company Truland Group Inc.
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What Your Business Credit Report Tells Lenders
Pro Builder
OCTOBER 12, 2022
Just like your personal credit score, your business credit score indicates whether you’re a good risk for paying your debts or not. Like a personal credit report, your business credit report allows prospective lenders to assess your risk level as a borrower. Lessons Learned From Previous Housing Market Disruptions.
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3 Avoidable Headaches for Construction Project Managers [Webinar]
Autodesk Construction Cloud
OCTOBER 28, 2021
The modernized process that the industry is adopting is to use automated software like Pype AutoSpecs for initial submittal log drafting to save time, standardize processes, and mitigate risk. Want to learn more about how AutoSpecs’ automation can save you time, standardize your processes, and mitigate risk across your projects?
Unique Construction Company Financing Secrets Revealed
Contractor Bookkeeping
AUGUST 6, 2014
They work hard to find people and businesses and contractors that are good credit risks they can loan money too and get paid back in a timely fashion, with all of the interest due to them. The Risk Management Association (RMA). Finally a Z-Score is compiled which is a formula for predicting bankruptcy. Five Red Flags To Avoid.
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Estimating- The New Normal
Chianelli Estimating
AUGUST 6, 2020
One error may be the difference in bankruptcy or staying afloat. Until Contractors receive any new OSHA Regulations or Insurance Companies analyze risk, the effects to their Estimating Departments approach will be challenged to allow for the potential of increased costs: both Direct & Indirect. Less opportunities. Office personnel.
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Contractor Cash Flow Problems Caused By A Bookkeeping Troll
Contractor Bookkeeping
MARCH 7, 2013
He needed help deciding to close his business, file bankruptcy and go to work for a competitor as a superintendent or turn his business around and make a go of it. Later that day he tried using his credit cards to buy gas and they were all declined. At that point he knew something was very, very wrong.
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#67: Paying Your Subcontractor's Employees
NH Construction Law
MAY 28, 2018
The main advantage of such “trust fund” provisions is in bankruptcy; trust funds are not considered assets of the subcontractor/debtor that can be distributed to general creditors. But hey, who ever said that general contracting was risk-free? I generally do not recommend this except as a last resort.
International Arbitration Experts Discuss The Impact On The Global Economy
Constructlaw
DECEMBER 7, 2020
Halprin: At the risk of stating the obvious, the pandemic has had a tremendous impact on filings. The economic hardships that have resulted have exposed many businesses to financial strain and led to an increased number of high-profile insolvencies and bankruptcies.
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40 Serious And Funny Construction Definitions Contractors Enjoy Reading
Contractor Bookkeeping
JULY 27, 2012
Bad Numbers - Lead to bad decisions / cash shrinks / business unstable / bankruptcy or failure. Bankruptcy - Result of saving money on bookkeeping and making decisions on garbage reports. ROI - Risk of Incarceration; in most cases the business owner is responsible for unfiled taxes and missed payments, not the bad bookkeeper.
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constructionattorneyblog: Waivers of liens: fraud
Construction Lawyer
SEPTEMBER 22, 2005
In other words, you use the stuff we post here at your own risk. The Bankruptcy Court for the Northern District of Illinois recently ruled that a contractor who falsified waivers of lien engaged in fraudulent conduct and his debt to the bank was non-dischargeable. The laws of each state are different and each situation is unique.
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Advise & Consult: Serious, expert legal insights for the construction industry
Construction Marketing Ideas
MARCH 11, 2016
My nearly two decades as a lawyer have taught me that surety bonds are really only protection against one risk: Subcontractor bankruptcy. Too often, surety bonds are “fight first, pay much later, and only if you have to.”.
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Home Builder Success and the Fragility of Good Things
Pro Builder
OCTOBER 3, 2020
Shortly after, I read another piece on bankruptcies in home building, and soon I was thinking of the more than 250 builders I’ve worked with over more than three decades and wondering: Does this “ Anna Karenina Principle ” about families also apply to home building? They understand that to neglect one is to risk the entire enterprise.
Completed Operations: A Contractor’s Guide to Coverage, Cost, & More
Levelset
SEPTEMBER 16, 2022
There are five primary reasons why contractors need completed operations coverage: Protects company assets Prevents bankruptcy or business failure in the event of costly damage Provides evidence of financial strength that may assist in closing deals Satisfies bank loan requirements Protects the public by covering damage or injury to third parties.
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Guest Blog – 5 Common Misconceptions About Surety Bonds
Construction Law Monitor
APRIL 15, 2015
Due to this misinformation, many contractors either avoid projects requiring bonds, thus missing great work opportunities; or sometimes even operate without them, which jeopardizes their legal standing and puts their whole company at risk. A recent case of this is the bankruptcy of the 105-year-old company Truland Group Inc.
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Seventh Circuit examines "pay-if-paid" provision
Construction Lawyer
JULY 20, 2012
In other words, you use the stuff we post here at your own risk. The question became whether the general or the subcontractor would bear the risk of loss. Fidelity had issued a payment bond, but Fidelity refused to pay after the owner declared bankruptcy, and BMD sued Fidelity. Fidelity , 679 F.3d
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#130: Secured Lenders' Rights to Construction Contract Payments
NH Construction Law
OCTOBER 22, 2023
Worse, a lawsuit against the general contractor or subcontractor for breach of contract after abandonment of the project will almost certainly be futile; the default on its loan usually signals that it won’t be able to pay a judgment and is probably headed for bankruptcy. In the residential setting, this never happens.
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40 Doubling Down in NJ
Buisness Facilities Contributed Content
FEBRUARY 28, 2013
This effort has taken on an added sense of urgency in the wake of this month’s announcement by the luxury resort Revel that it is filing for bankruptcy protection. It’s going to accelerate the progression of problems for people who are already at risk,” Donald Weinbaum, the council’s director, told The New York Times.
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constructionattorneyblog: New York court holds that contractor.
Construction Lawyer
APRIL 30, 2012
In other words, you use the stuff we post here at your own risk. Chapeau filed bankruptcy. Although we believe the information is accurate, we do not warrant the accuracy of this information and we do not intend that you rely on this information. The laws of each state are different and each situation is unique.
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Coronavirus and airline travel in Europe: No empty plane seats under EU plan
Construction Test
MAY 15, 2020
The Commission also said airlines will need to limit risks of infection, which could be achieved using hospital-grade air filtering, personal protective equipment and limiting movements. . “The starting point here is that European consumers have a right to a cash refund, if that is what they want.
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A journey through masonry reclad litigation
BD+C
OCTOBER 7, 2024
Following further evaluation and tactile push tests, it was confirmed that all 15 stone units were partially to fully dislodged, with four of them posing an immediate fall hazard risk. An emergency assessment was initially performed to mitigate potential life-safety risks due to loose stones based on the preliminary ground-level survey.
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Good Trouble—Necessary for Home Builders, Too
Pro Builder
AUGUST 13, 2020
When have you stood up, perhaps risking pay, position, promotion, or even your job because you were willing to fight for what's right, to cause “good trouble”? When have you stood up, perhaps risking pay, position, promotion, or even your job because you were willing to fight for what's right, to cause “good trouble”? What will you do?
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About epiphanies — and discovering amazing answers
Construction Marketing Ideas
MARCH 2, 2015
Then, as my new publishing business seemed to be failing and I was sinking into personal bankruptcy (with a property ‘under-water’ essentially I had negative net worth), I thought: “I’m responsible for myself, and I will have to solve these problems without blaming myself or anyone else.”. That’s life.
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State by State Incentives Guide
Buisness Facilities Contributed Content
APRIL 15, 2014
CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. The optional investment tax credit is a calculated risk. There must be at least two other parties at risk. For more information, please visit this link.
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108 STATE INCENTIVES GUIDE
Buisness Facilities Contributed Content
MARCH 21, 2014
CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. The second mortgage, long-term, fixed-rate financing allows banks to participate in business expansion by reducing risk exposure.
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150,000 Brits will die an ‘avoidable death’ during coronavirus pandemic through depression, domestic violence and suicides
Construction Test
MAY 13, 2020
. ‘This is, of course, a model… But estimates of lockdown victims are being shared among those in government who worry about the social damage now underway: the domestic violence, the depression, even suicides accompanying the mass bankruptcies.’ MAN IN SELF-ISOLATION DIES BY SUICIDE .
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Covid-19 and travel: Heathrow boss says social distancing ?impossible? in airports
Construction Test
MAY 19, 2020
Many carriers face bankruptcy or nationalisation if the industry can’t get back to normal before a vaccine arrives, Holland-Kaye said, adding that the airport’s shareholders are burning through 200 million pounds a month ($250 million) at present.
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