Accounting
Weakened Economy and Higher Borrowing Costs Dog Construction Industry, Reports Marcum Survey
The Marcum Commercial Construction Index for the second quarter of 2022 reports that the construction industry continues to face rising costs and shortages of both labor and materials, but now also must contend with a weakening economy and elevated borrowing costs. Notably, the residential sector has weakened significantly, while the outlook remains dicey for the nonresidential sector….
Aprio to Welcome North Carolina-based firm Ladd Robbins
Today Aprio, LLP, a top 35 business advisory and CPA firm, announced that North Carolina-based Ladd Robbins CPAs and Consultants (Ladd Robbins) will join Aprio on October 1, 2022. For more than 20 years Ladd Robbins has served clients in 20+ states across the U.S., focusing on healthcare practices including dental and optometry. As part of Aprio, Ladd…
Introducing FORVIS: New Name for Planned Merger of BKD and DHG Reflects the Firm’s Forward Vision
CHARLOTTE, N.C. and SPRINGFIELD, Mo. – The newest entrant among the nation’s Top-10 professional services firms will be called FORVIS. The name was jointly announced in April by the leaders of BKD and DHG. The two firms agreed to a merger of equals in February, with an effective date of June 1, to create an enhanced, Top-10,…
Banking
FMI Capital Advisors Releases 2022 Construction Materials Outlook
FMI Capital Advisors, a leading investment banking firm for companies that work and invest in the built environment, released its 2022 Construction Materials (CM) Outlook report entitled, “Seizing the Opportunities Ahead.” The report provides a brief recap of last year’s M&A activity and summarizes key drivers and challenges for the CM industry in 2022 and…
BB&T Reinforces Commitment to Eastern North Carolina
BB&T Corporation (NYSE : BBT ) announced it will build an approximately 95,000-square-foot office facility on Pine Street in downtown Wilson, N.C. The new $35 million building will accommodate 650 BB&T associates who are currently working in the twin buildings at 223 West Nash St. or elsewhere in Wilson. BB&T expects to begin site work on…
Infintech Is CFMA’s Newest Affinity Program Partner
The Construction Financial Management Association (CFMA) is proud to introduce its newest Affinity Program Partner, Infintech. Ranked as one of Inc. Magazine’s Fastest Growing Companies, Infintech specializes in business-to-business and construction payment processing. Offering cutting-edge technologies and equipment, at the best prices, Infintech clients can then offer the convenient, secure payment options their customers need….
Diversity & Inclusion
ICSC and Partner Associations Form the Commercial Real Estate Diverse Supplier Consortium
The International Council of Shopping Centers (ICSC) announced their participation in an industry-wide alliance to foster supplier diversity in the real estate industry. The Commercial Real Estate Diverse Supplier (CREDS) Consortium, made up of seven real estate trade associations, aims to meet growing interest from companies in real estate to further diversify their supply chains while…
Results of New Survey Recommend Steps to Improve Diversity, Equity and Inclusion in Design and Construction Industry
Today, Dodge Construction Network and the U.S. General Services Administration (GSA) released the findings of a new industry survey in that shows more work is needed among architecture firms and construction companies to improve diversity, equity and inclusion (DEI) in their industry. The Diversity, Equity and Inclusion SmartMarket report also details the organizational and business benefits of doing so. The Request…
Equity in Architectural Education Guides Now Available
The American Institute of Architects (AIA) and the Association of Collegiate Schools of Architecture (ACSA) have published a supplementary edition of the Guides for Equitable Practice, focusing on schools and institutions. Equity in Architectural Education provides actions and prompts intended to inspire discussions about creating welcoming environments to attract and retain those currently underrepresented in academia and in…
Finance / Bonding
FMI Corporation Acquires Investment Bank SLATE Partners
Co-founded by Aaron Bachik and Jason Munoz in 2014, SLATE Partners provides sell-side and buy-side mergers and acquisitions (M&A) advisory services to companies in the building materials and building services industries nationwide. The firm’s clients include family and entrepreneur-owned businesses as well as private equity-backed companies. The acquisition of SLATE Partners brings significant complementary talent…
BuildersRisk.Net Insurance Succeeds Sells 2554 Policies During 2021
The construction segment has faced many challenges during the COVID-19 pandemic, from supply chain disruptions and material shortages to social distancing requirements and sick workers. After a turbulent market in 2020, certain lines of business are experiencing some stabilization. However, 2021 was a banner year for the construction industry, and until today, consumer appetite for new…
Built Helps Construction Lenders Manage Risk with Project Pro
Built Technologies (Built), the fastest growing construction finance platform in the U.S., today announced Project Pro, the first-of-its-kind contractor management and project monitoring solution for lenders. Construction lenders around the world are limited in their ability to monitor and manage the risks of their construction portfolio. They often lack specialized tools built for construction financing that…
Government Affairs
ABC Opposes the Biden Administration’s New Independent Contractor Proposed Rule
Associated Builders and Contractors today responded to the U.S. Department of Labor’s announcement of a proposed rule to rescind and replace a commonsense, ABC-supported final regulation on independent contractors. “ABC is deeply disappointed that the Biden DOL is moving forward with a proposed rule that will disrupt legitimate independent contractors, which are an essential component of the…
CAGC Delegation Lobbies Carolinas Congressional Delegation for Construction Support at NCLC
Last week CAGC leaders, including members and staff, met in Washington, D.C. with Congressional Delegations from the Carolinas to urge their support of infrastructure and Career Technical Education (CTE) funding, and to oppose mandatory Project Labor Agreements pushed by unions, burdensome Buy America provisions that will create unnecessary red tape and proposed heat standards that…
President Biden’s Inflationary PLA Schemes Hurt Taxpayers and Construction Job Creators
Associated Builders and Contractors today released the following statement in response to the publication of a proposed rule, Federal Acquisition Regulation: Use of Project Labor Agreements for Federal Construction Projects, implementing President Biden’s Executive Order 14063, which requires federal construction contracts of $35 million or more to be subjected to controversial project labor agreements. “The Biden administration continues…
Human Resources
The Business Impact of Promotions and Measuring Employee Motivation and Commitment: New Findings from the ADP Research Institute
The ADP Research Institute® (ADPRI) reveals the business impact of promotions and presents a new way to measure worker motivation and commitment in Today at Work, a fresh and comprehensive data-driven resource for business leaders and other decision-makers. In the September issue of Today at Work – “The Hidden Truth About Promotions” – ADPRI shows how promotions, under certain conditions,…
Cultivating a Sense of Mindfulness
As a construction leader, you are likely juggling a multitude of responsibilities and demands on a daily basis. Thinking about projects, estimates, safety, employee retention, supply chain issues and payroll can be the source of significant stress. Dealing with a multitude of issues and challenges can be anxiety provoking. However, practicing mindfulness can help you…
Culture Matters. The Power to Serve: More than a Slogan.
Leading regional electrical contractor CarolinaPower is known as a company that genuinely cares about its people. This is evidenced by an outstanding safety record – currently more than 650 days without an incident – as well as being named one of South Carolina’s Best Places to Work for five years in a row. At the…
Leadership
The Business Impact of Promotions and Measuring Employee Motivation and Commitment: New Findings from the ADP Research Institute
The ADP Research Institute® (ADPRI) reveals the business impact of promotions and presents a new way to measure worker motivation and commitment in Today at Work, a fresh and comprehensive data-driven resource for business leaders and other decision-makers. In the September issue of Today at Work – “The Hidden Truth About Promotions” – ADPRI shows how promotions, under certain conditions,…
Cultivating a Sense of Mindfulness
As a construction leader, you are likely juggling a multitude of responsibilities and demands on a daily basis. Thinking about projects, estimates, safety, employee retention, supply chain issues and payroll can be the source of significant stress. Dealing with a multitude of issues and challenges can be anxiety provoking. However, practicing mindfulness can help you…
Embracing a Rapidly Changing Industry
A convergence of events has disrupted the construction industry. Company and industry leaders are responsible for decisions made in a world that is volatile, uncertain, complex and ambiguous (VUCA). VUCA describes the situation of constant, unpredictable change that is indicative of the environment in construction today. The term was first used by leadership experts in…
Legal
Get it in Writing: Best Way to Mitigate Risk in Commercial Construction Projects
It happens all the time – a contractor is walking a jobsite with the client and the client decides something needs to be changed. It could be anything from a paint color change to a multi-million dollar scope addition, but all changes have one thing in common – they cost money to implement. The price…
Poyner Spruill’s Construction Group Ranked in Selective List of Law Firms and Attorneys
Raleigh-based Poyner Spruill LLP’s Construction Practice Area and individual attorneys have recently been recognized as leaders in the field with their inclusion in the 2023 guide of Chambers USA: America’s Leading Lawyers for Business. The Chambers USA annual guide establishes firm and attorney rankings by in-depth research, client interviews, and peer feedback. Individual rankings are…
Poyner Spruill Welcomes New Chief Operating Officer
Poyner Spruill LLP, a full-service law firm that serves the construction industry, is pleased to announce that Marieé Walton has joined the firm as its Chief Operating Officer. Walton draws on her experience in the finance industry on Wall Street to lead the firm’s operational functions. She is based at the firm’s Raleigh headquarters. Walton…
Management
CEO Confidence and Consumer Demands on the Rise: Marcum-Hofstra CEO Survey
Middle-market CEOs are feeling better about the current business climate and less fearful the economy will fall into recession, according to the latest CEO survey from Marcum LLP and Hofstra University’s Frank G. Zarb School of Business. Highlights of the survey, conducted earlier this month, also reveal that about a quarter of companies have begun to use artificial…
Improving Organizational Self-Image
Improving this will not only help you attract and keep good people, but it will also bring in new clients. Everyone keeps talking about how difficult it is to find and keep truly outstanding people in their firms. There’s a little secret on how to do that – one that I have never seen anyone write…
The Conference Board Leading Economic Index® (LEI) for the U.S. Fell Further in July
The Conference Board Leading Economic Index® (LEI) for the U.S. decreased by 0.4 percent in July 2022 to 116.6 (2016=100), after declining by 0.7 percent in June. The LEI was down by 1.6 percent over the six-month period from January to July 2022, a reversal from its 1.6 percent growth over the previous six months. “The US LEI declined for a…
Marketing
TrebleHook Named as One of the Region’s 10 Most Exciting Startups by NEXT
TrebleHook has been named as one of the “10 Most Exciting Startups” by NEXT, an organization that exists to guide and support high-growth, high-potential entrepreneurs and their businesses in Greenville, SC, and across the Upstate of South Carolina. This recognition is a tremendous validation for TrebleHook, a startup quietly innovating under the supportive umbrella of its parent company, TPM….
Learning from Volkswagen’s 1960s ads
Things are only going to get more competitive, so it’s time to raise the bar with your marketing. You may not know who Doyle Dane Bernbach was, but if you are of a certain age, you will undoubtedly remember their products. DDB were real life “mad men” of advertising – the creators of the fabulous Volkswagen…
Content Marketing and Other Trends in AEC Marketing for 2023
The architecture, engineering and construction (AEC) industry is faced with challenges and opportunities that stem from evolving economic cycles, changing markets, client expectations and new technologies. For AEC marketers, change creates opportunities to improve the planning, implementation and measurement of marketing programs. Keeping abreast of industry transformation, technology advances and innovations is imperative for AEC…
Operations Management
Chemistry for a Successful Project Team
I recently had the opportunity to serve as a judge to evaluate entries for the 2022 ABC Carolinas Excellence in Construction (EIC) Awards competition. The mechanical contracting firm from which I recently retired had been successful in winning multiple awards from ABCC over the years; however, judging was a new experience for me. Being the “old…
Nick Skrobola Promoted to Project Manager at McCrory Construction
McCrory Construction announces the promotion of Nick Skrobola to Project Manager. Skrobola has a decade of construction industry experience and is currently working on a 150,000-square-foot warehouse and machine/maintenance shop in Anderson, S.C. “Nick has a can-do attitude that has served McCrory well on some of our most complex projects. He has demonstrated leadership qualities…
McCrory Construction Promotes Seth Dunnagan to Project Manager
Columbia, South Carolina — McCrory Construction announces the promotion of Seth Dunnagan to Project Manager. Over the past three years, Dunnagan has served in various project management roles for the firm’s Retail Division, managing several Walmart projects around the Carolinas, Georgia and Tennessee. A graduate of Clemson University with a degree in Environmental Engineering, he…
Risk Management
Mental Health & Wellness: Key Components of Safety for Construction Industry
A growing topic of discussion in the industries we serve is mental health. Although safety has long been a core value of the construction industry, wellness is now gaining traction as a much-needed area of focus. Its importance can’t be understated. Nearly 13 percent of workplace injuries are attributed to fatigue, and more than 40…
What You Need to Know About OSHA’s New Initiatives for the Construction Industry
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has announced new enforcement initiatives for 2023 which will have a direct impact on the construction industry. These new initiatives are primarily directed at preventing trenching and excavation fatalities, and heat-related injuries and illnesses. State Plan states, including North Carolina, are required to adopt…
Owens Insurance Agency Celebrates 70 Years in Business
Greer, South Carolina – As 2022 comes to a close, Owens Insurance Agency, an independent insurance agency serving the construction industry in the Upstate of South Carolina and beyond, is wrapping up a year-long anniversary celebration marking 70 years in business. Owens is now under third-generation ownership. Owens Insurance first opened its doors in downtown…
Strategy
The Wooten Company Opens New Winston-Salem Regional Office
The Wooten Company, an engineering consulting firm celebrating its 80th anniversary this year, announced on Monday that it has opened a new Regional Office in the Old Salem Historic District of downtown Winston-Salem, NC. Overseen by Regional Manager John Grey, PE, the office was previously located in Asheboro, NC, from where it served the towns,…
Integrated Delivery – Why Is It?
Integrated delivery is a delivery method that embraced 360 degree collaboration between all the stakeholders on a project; including designers, consultants, general contractor, subcontractor, vendors, and yes the owner. Design-build (DB) and Integrated Project Delivery (IPD) are two examples of integrated delivery. There are numerous differences between the various contract forms of both DB and…
Should You Get Out of the Contracting Business?
That may seem like a strange resolution for a contractor. However, it might be the best advice you ever receive. How many people do you think wake up in the morning and say to themselves, “I can’t wait to hire a contractor today?” If you do service work, it’s even worse. No one wakes up…
More Business
Stewart Appoints AEC veteran Nick Ellis as President and COO
Stewart, an interdisciplinary design, engineering and planning firm, today announced that it has appointed Nick Ellis to the role of president and chief operating officer (COO). Building on nearly three decades of experience in transportation, commercial real estate, economic development and construction, Ellis will oversee the firm’s strategic vision to strengthen communities across the Southeast. …
Davis & Floyd Hires Marion Bull as Director of Business Development
Davis & Floyd, Inc., a leading engineering, planning, and landscape architecture firm, has hired Marion Bull as Director of Business Development. Bull will promote the firm’s strategic plan of focusing on client service and growing its brand across the Southeast. He is based in the firm’s Charleston, SC, office. According to Davis & Floyd President…
Spotlight on FLEX Program: Future Leaders Initiative
ABC Carolinas Chapter Future Leaders Exchange (FLEX) program is designed for young professionals under the age of 40 who are employed by an ABC member company in good standing. FLEX, operating in all seven of ABC Carolinas Councils, provides the opportunity for members to network and build relationships with other individuals who are at the same…
TrebleHook Named as One of the Region’s 10 Most Exciting Startups by NEXT
TrebleHook has been named as one of the “10 Most Exciting Startups” by NEXT, an organization that exists to guide and support high-growth, high-potential entrepreneurs and their businesses in Greenville, SC, and across the Upstate of South Carolina. This recognition is a tremendous validation for TrebleHook, a startup quietly innovating under the supportive umbrella of its parent company, TPM….
