Accounting
Elliott Davis Webinar: Cybersecurity -Threats, Trends, and Solutions
WHEN: May 25 from 12:00 pm – 1:00 pm Join us for a free CPE webinar on May 25, 2021 from 12:00 – 1:00 pm ET, to discuss the latest threats and trends of cyberattacks specific to the Real Estate, Architecture, Engineering and Construction industry. Register Learning Objectives Evaluate the latest threats and trends. Determine…
Why Construction and Real Estate Companies Need Dashboards
As companies in the construction and real estate industry continue to grow and navigate through the uncertain and unprecedented times created by the COVID-19 pandemic, there is an increased need and desire for more accurate, detailed and timely reporting of data in an easily digestible format to aid decision-makers in proactively managing their business. By…
FMI Releases First Quarter Heavy Civil Construction Index
FMI Corporation, a leading provider of consulting and investment banking services to the built environment, is pleased to announce the release of the first quarter 2021 Heavy Civil Construction Index (HCCI) report, which presents construction spending forecasts for transportation, highway and street construction segments. This quarter’s questions polled participants about capacity, backlog and hiring goals for 2021….
Banking
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….
FMI Advises Enovity on Sale to Veolia
FMI Capital Advisors Inc., a subsidiary of FMI Corporation, is pleased to announce the sale of Enovity, a San Francisco-based energy services firm, to Veolia North America. FMI Capital Advisors acted as the exclusive financial advisor to Enovity for this transaction. Enovity is a strategic acquisition that complements Veolia’s existing SourceOne energy services business. Investing…
Diversity & Inclusion
FMI Partners with the United States Minority Contractors Association (USMCA) to Help Improve Members’ Operations and Strategic Planning
FMI Corporation, a leading consulting and investment banking firm serving the built environment, announces a strategic partnership with the U.S. Minority Contractors Association (USMCA), a nonprofit that helps and advocates for minority business owners, contractors and subcontractors. FMI will serve as a strategic partner and consultant to USMCA, helping the association expand member services and…
Carolinas AGC Celebrates Women in Construction
Carolinas AGC (CAGC) was proud once again to celebrate Women in Construction Week, which extended from March 8 – March 12, 2021. In addition to launching targeted advertisements which showcased the benefits of careers in construction for women, CAGC also launched a three-part CAGC Buildercast podcast series, We Were Built for This, highlighting the impact that women have on…
Burns & McDonnell Launches Together By Design Newsletter Focused on Spotlighting Importance of Business Diversity
Burns & McDonnell is launching Together By Design, a quarterly business diversity newsletter that seeks to advance a community of inclusion. The email newsletter features stories of great opportunity, innovative approaches, and diverse perspectives that can shape best practices for the architecture, engineering and construction industry. Each quarter, Burns & McDonnell will introduce readers to diverse clients,…
Finance / Bonding
Majority of Construction ESOPs Not Significantly Impacted by COVID-19
Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, recently released its ESOP Construction Industry Survey. Prairie works with owners of private construction businesses across the country, providing advisory services to support their growth and ownership transition strategies. Many of its clients in the construction industry have decided on an ESOP as part of…
Cash Flows Versus Profitability
Every business owner knows that cash is king. For a business to be successful, it must have good cash flow. However, for a business to be valuable, it must also be predictably profitable. And as we’ll see, these are not always the same thing. As an example, I recently worked with a business owner, who…
Cherry Bekaert Expands Credits & Incentives Resources and Capabilities with Acquisition of the Tax Advantage Group
Cherry Bekaert LLP (“the firm”) announced the acquisition of the Tax Advantage Group (“TAG”), a specialized consulting firm that provides New Markets Tax Credit (“NMTC”) services to clients across the country. Based in Greenville, SC. TAG will now operate as Tax Advantage Group by Cherry Bekaert, and will bring six experienced professionals to Cherry Bekaert’s Credits…
Government Affairs
AGC: New Immigration Bill Protects The Legal Status Of More Than 100,000 People In Dreamers And TPS Programs Who Work In Construction
Offering Undocumented Immigrants a Path to Legal Status Will Put an End to Unfair Competition and Labor Exploitation, But Bill Fails to Create a Construction Worker Visa Program, Has Other Flaws The Associated General Contractors of America’s chief executive officer, Stephen E. Sandherr, issued the following statement in reaction to the introduction in Congress…
NC Governor Cooper Names Machelle Sanders Dept. of Commerce Secretary
Raleigh, NC – Feb 12, 2021 – Today, Governor Roy Cooper announced that Machelle Sanders, current Secretary of the NC Department of Administration, will now serve as Secretary of the Department of Commerce. Sanders will replace Tony Copeland who stepped down at the end of January. “Machelle has been an outstanding leader in this administration,…
Survey: Corporate PACs Took Unprecedented Action by Broadly Suspending Political Contributions Following Capitol Riot
Following the Capitol riot in early January, some corporations swiftly announced that their political action committees (PACs) ceased donating to federal lawmakers who objected to certification of the presidential election. But the results of a new survey reveal that those announcements represent just part of the story. The Conference Board poll found that only about…
Human Resources
How to Successfully Delegate at Work
To delegate or not to delegate? That is the question. Delegation is something that’s a struggle for many. The two biggest obstacles to delegation and causes of micromanagement are CONTROL and TRUST. The person delegating wants to control what’s done, when it’s done and how it’s done. In that case, it shouldn’t be delegated because…
2021 Total Compensation Benchmarking Tool for U.S Architecture, Engineering, Construction (AEC) Firms
The “2021 Total Compensation Benchmarking Tool for U.S Architecture, Engineering, Construction (AEC) Firms – East Edition” report has been added to ResearchAndMarkets.com’s offering. This Excel-based tool for firm leaders to make real-time decisions that impact firm performance and profitability. The Total Compensation Benchmarking Tool: Total Compensation Benchmarking Tool – Dynamic Excel File Base compensation Bonus dollar figures Bonus as…
All Business Problems Are People Problems
This June will mark the 10-year anniversary of the sale of a wireless construction company that I built with the help of two business partners. In the nine years that we ran the business and the 10 years that have followed, I have learned so many business lessons and nearly all of them have to…
Leadership
Communication Skills of Top Leaders
Do you struggle with communicating effectively? Communication is a critical part key part of success in the construction industry and in other parts of your life. The top leaders and best communicators have practiced and mastered the skills that enable them to communicate so effectively. You too can learn these same skills! Follow these strategies…
Your First 100 Days
Each time a new President moves into the Oval Office there is considerable discussion, anticipation and focus on the first 100 days in office. New Presidents seek to set the tone of their administration and begin to implement the platform and agenda on which they campaigned. The approach also applies to construction businesses. What will the…
The Essential Soft Skills All Construction Workers Need
In the construction industry, laborers are used to hauling materials, managing equipment, and doing the heavy lifting. A great construction worker is used to showing their hard skills on the job site. But what about those all-important soft skills? The talents that land you your next job and help you be the go-to guy on…
Legal
Elmore Goldsmith Kelley & deHoll Attorneys Recognized in The Best Lawyers in America® for 2022
The law firm of Elmore Goldsmith Kelley & deHoll is pleased to announce that the firm’s attorneys have been selected by their peers for inclusion in The Best Lawyers in America® for 2022: L. Franklin “Frank” Elmore: Construction Law and Litigation–Construction Mason A. “Andy” Goldsmith, Jr.: Construction Law and Litigation–Construction Bryan P. Kelley: Construction Law…
Elmore Goldsmith Kelley & deHoll, P.A. Recognized as South Carolina ‘Super Lawyers’
South Carolina ‘Super Lawyers’ Five attorneys from Elmore Goldsmith Kelley & deHoll have been named by South Carolina Super Lawyers Magazine for 2021. Super Lawyers recognizes attorneys who have distinguished themselves in their legal practice and less than five percent of lawyers in each state are selected to this exclusive list. Attorneys recognized as Super…
Elmore Goldsmith Kelley & deHoll, P.A. and Attorneys Recognized by U.S. News- Best Lawyers® 2021
U.S. News – Best Lawyers® released the 2021 “Best Law Firms” rankings and Elmore Goldsmith Kelley & deHoll, P.A. has been recognized in four areas. For the Greenville metropolitan area, the firm has received tier one rankings for Construction Law, Litigation–Construction, Litigation–Securities, and Commercial Litigation. Firms included in this eleventh edition are recognized for professional…
Management
How to Apply the Pareto Principle at Work and at Home
The 80/20 rule, also known as the Pareto Principle, is the idea that 20% of your efforts bring 80% of your results. The idea applies to many things in life. 20% of your customers make up 80% of your revenue. 20% of your employees make 80% of the complaints. 20% of your customers are 80%…
Construction Recovers Lost Jobs as Economy Bounces Back in the 3rd Quarter, Reports Marcum Commercial Construction Index
The Marcum Commercial Construction Index for the third quarter of 2020 reports that the industry continues to recover jobs lost from the recession caused by COVID-19. Construction employment has rebounded since plummeting in March and April, and the industry’s unemployment rate stands at 6.8% as of October, just below the 6.9% percent rate observed across all industries….
New Survey of Small Business Shows Slight Uptick in Optimism
Today, the National Small Business Association (NSBA) is releasing a new survey on how COVID-19 is impacting America’s small businesses and what they anticipate in the coming months ahead. The survey shows modest improvements in small-business confidence and economic outlook, and a lower overall impact of the pandemic. “Despite these gains in outlook, COVID-19 continues…
Marketing
SEO or PPC: Which is Better for Your Construction Business
Determining an approach to digital marketing can be intimidating. In order to grow your construction business online, you may be wondering whether you should invest your time and money into Search Engine Optimization (SEO) or Pay-Per-Click Advertising (PPC). Both have their positives and negatives, but is one better than the other? Let’s look at both….
Construction Assistance Association Launches New Website
When it comes to advancing diversity and inclusion in the construction industry, Construction Assistance Association (CAA) is at the forefront of the movement. And, the organization has recently launched a brand new website to amplify its message and elevate its members. The new website, www.contractorsassistance.org, is designed to highlight the organization’s mission, membership and programs. “As…
Join the New GroundBreak Carolinas LinkedIn Group
Looking to build your business in 2021? Join the new GroundBreak Carolinas LinkedIn group today! Since 2017, The team at GroundBreak Carolinas has been publishing newsletters every other week with interesting articles, engaging content and thought provoking insights. Since our launch, we’ve been committed to telling the stories of the construction community in the Carolinas….
Operations Management
Civil Contractors Remain Optimistic About Work Volumes Leading into 2022, but Express Growing Concerns Around Skilled Worker Shortage to Handle It
The latest issue of the Civil Quarterly (TCQ) from Dodge Data & Analytics reveals that most civil contractors are optimistic about the volume of work they expect in 2021 and 2022, and they anticipate both revenue and profit margin increases for their companies as a result. However, that optimism is overshadowed by increasing concerns around skilled worker shortages, including an…
9 Tips for Construction Business Owners Looking to Optimize Their Business
Every year there are lists of construction business owners making billions of dollars while others go out of business. Running a business is hard, and it’s even harder in an industry like construction. However, many of these top performing construction businesses have a series of tips and tricks they’ve learned to run a business successfully….
New Website for Outer Banks Pool & Landscape Designer Makes a Splash
Outer Banks Media (OBX Media), a North Carolina-based digital marketing agency specializing in website design, search engine optimization and internet marketing, announces the completion of a website redesign for their client, Southern Scapes Pool & Landscape Design (Southern Scapes). Southern Scapes has been in business since 1998, and is a family owned business specializing in pool…
Risk Management
Latium Technologies and Aon Revolutionizing Construction Risk Management
Latium Technologies and Aon plc today announced a strategic alliance to introduce Latium’s Job Site Insights® (JSI®) Internet of Things (IoT) application and suite of products as a foundational risk mitigation tool for contractors and owners. The alliance between Latium Technologies and Aon brings industry-leading technology to more contractors and owners, so they can prevent incidents before they…
Dealing with Increasing Cyber Risks in the Construction Industry
The construction industry is embracing technology at an increasingly rapid pace for both project modeling and day-to-day operations. Construction equipment and control systems are also expected to become increasingly automated in the next few years. This undoubtedly makes the construction industry more efficient both in terms of enterprise systems and project completion, but relying on…
Arthur J. Gallagher & Co. Acquires Cain Insurance Services Ltd.
Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Fredericton, New Brunswick-based Cain Insurance Services Ltd. Terms of the transaction were not disclosed. Founded in 1986, Cain Insurance Services is a retail property/casualty broker offering commercial and personal insurance to clients throughout the region. Cain has broad expertise, with particular strengths in serving clients in…
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
Supply and Labor Constraints Continue to Hinder Economic Growth, Home Sales
For the second month in a row expectations for near-term real GDP growth were revised downward – and outward – due to persistent supply chain disruptions and labor market tightness, according to the September 2021 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group now projects full-year 2021 real GDP growth to clock…
August Construction Employment Lags Pre-Pandemic Peak In 39 States As Delta Variant Of Coronavirus, Supply Problems Hold Back Recovery
Construction employment in August remained below the levels reached before the pre-pandemic peak in February 2020 in 39 states, according to an analysis by the Associated General Contractors of America of government employment data released today. Association officials urged the House of Representatives to quickly pass the bipartisan infrastructure bill to avoid further cutbacks in construction activity…
ABC’s Construction Backlog Indicator Plummets in August; Contractor Confidence Down
Associated Builders and Contractors reports today that its Construction Backlog Indicator fell sharply to 7.7 months in August, according to an ABC member survey conducted Aug. 19 to Sept. 1. The reading is down 0.8 months from July 2021 and down 0.3 months from August 2020. ABC’s Construction Confidence Index readings for sales, profit margins…
STAND UP to Address Mental Health and Suicide Prevention
Mental health and suicide in construction are growing problems facing the industry. According to a CDC study, the construction industry ranked as the #1 industry for deaths by suicide. September is suicide prevention month, and the Construction Industry Alliance for Suicide Prevention (CIASP) has resources and tools to help construction firms address this growing issue. With…
