Cherry Bekaert LLP (“the Firm”) today announced it has reached an agreement to transfer ownership of its Asheboro, N.C, office to LBA Haynes Strand, PLLC, effective July 31, 2019. The announcement aligns with Cherry Bekaert’s strategy to establish greater specialization and depth in larger markets. After conducting extensive due diligence, Cherry Bekaert determined that LBA Haynes…
Accounting
AIA to Enhance Tax Services to Members
The American Institute of Architects (AIA) is forming a new partnership with Engineered Tax Services, Inc. (ETS) to help architects better utilize federal, state and local tax incentives, including 45L credits, research and development (R&D) tax credits, Historical Tax Credits, and the Energy Efficient Commercial Building Deduction (Section 179D). “Depending on the project, architecture firms…
Making Tax Deductions Permanent Will Expand Economic Growth, Says ABC
According to Associated Builders and Contractors, the U.S. construction industry is still benefiting from the Tax Cuts and Jobs Act, which has helped small business owners grow their companies and workforce since its passage in December 2017. On Tax Day, ABC called on Congress to make the individual and pass-through small business deductions permanent—currently scheduled…
Marcum Commercial Construction Index Reports Strong 2018 for Nonresidential Construction
Against the backdrop of record continued strength in the U.S. economy, nonresidential construction ended 2018 up 4.0 percent year-over-year for the month of December, while employment in the sector grew 2.6%, reports the Marcum Commercial Construction Index for the fourth quarter of last year. The index is produced by Marcum’s National Construction Services group. The…
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…
Finance / Bonding
James M. Holmes Joins FMI Capital Advisors
James M. Holmes has joined FMI Capital Advisors as a Managing Director and Head of the Chemicals Group. He is based in FMI’s Denver, Colorado office. For more than 12 years, James has served mid-market chemicals companies by structuring and executing sell-side and buy-side M&A, capital markets, and other investment banking transactions. He has deep…
FMI’s Alex Miller Awarded 2019 Emerging Leader by The M&A Advisor
FMI Capital advisors, a subsidiary of FMI Corporation, is pleased to announce that Alex Miller, Managing Director, was recently awarded the 2019 Emerging Leader by The M&A Advisor. The M&A Advisor, renowned globally for its recognition of leading M&A, financing and turnaround professionals, created this award to promote mentorship and professional development amongst emerging business leaders….
Palmetto, a Charleston, SC-based Clean Energy Tech Company, Raises $6 Million in Funding
Palmetto, a clean technology company focused on the distribution and democratization of clean energy products, announced today that it has raised $6 million. The round was led by Greycroft, with participation from Lerer Hippeau, Box Group, and NBA commissioner emeritus David Stern. Palmetto harnesses its expertise in software, fulfillment, and financial solutions to streamline the…
Al Johnson: Still Motivated after 60 Years in the Surety Business
After 60 years in the surety business, Al Johnson has no plans for a traditional retirement. In fact, the 87-year-old continues to service a handful of longtime clients and looks forward to going into the office several days per week. For the past 25 years, Johnson has been associated with McGriff Insurance Services (formerly BB&T Boyle…
Government Affairs
AGC Supports Legislation Allowing 15 Year Depreciation of Commercial Property Improvements
Error in 2017 Legislation Set Timeline at 39 Years, Forcing Many Property Owners to Delay or Reconsider Planned Improvements and Putting Future Demand for Construction At Risk The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, released the following statement in support of the new, bipartisan, Restoring Investment in Improvements…
Legislation Introduced to Address Temporary Worker Issues in Construction
Construction Official Urges Congress to Act on Proposed New Legislation Introduced by Congressmen Francis Rooney & Lloyd Smucker that Will Establish First-Ever Temporary Visa Program for Construction The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, urged Congress to act quickly on the Workforce for an Expanding Economy Act that…
GroundBreaker: U.S. Congresswoman Virginia Foxx
People make the construction industry what it is today. GroundBreak Carolinas is excited to share the story of yet another member of the inaugural class of GroundBreakers – individuals who are shaping our industry in a variety of ways. A longtime supporter of workforce development initiatives, North Carolina Congresswoman Virginia Foxx is having an impact on the…
CAGC Leaders Head to the Hill to Promote Key Construction Issues, Celebrate AGC of America’s 100th Anniversary
Carolinas AGC representatives this month were among dozens of AGC leaders who visited with key members of Congress – including U.S. Sen. Lindsey Graham, R-SC, and Rep. Joe Wilson, R-2nd District, SC– to promote infrastructure funding, regulatory and permanent tax reform, and an immigration climate that could help provide badly needed relief for the nation’s…
Human Resources
FMI Releases 2019 Homebuilders Construction Industry Compensation Data
FMI Corporation, the leading provider of management consulting and investment banking services to the built environment, is pleased to announce the release of the 2019 Homebuilders Construction industry compensation data. In today’s market, attracting and retaining talent requires not only competitive compensation but also a comprehensive package of total rewards and tools to deliver critical…
Construction Labor Shortage Hiring Tips for Trade Contractors
During the 2008 recession, there was a lull in construction work and many skilled trade workers were laid off. They turned away from construction and moved into other fields. While the economy picked back up and the construction industry is booming, there is a large and unavoidable construction labor shortage. Due to the construction labor…
Construction Officals Urge Senators to Protect Legal Status of Over 100,000 Construction Workers, Fix Immigration
Construction Association Head Says Senate Must Pass Immigration Measure that Avoids Significant Disruptions to Construction Projects in Regions with Big TPS & Dreamer Populations The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, released the following statement in response to the passage today in the U.S. House of Representatives of…
Mental Health in Construction
May is Mental Health Awareness Month which is why there are more company posts dedicated to it, but not many focus on mental health in construction. The construction industry workers are not immune, and also experience mental health hiccups and sometimes long term illness. It’s important to raise awareness to issues within the industry and…
Leadership
Four Ways to Improve Morale for Increased Productivity
When teams aren’t productive, companies often start looking for new tech, or new tools to streamline processes, reduce redundancies, and more. That’s what technology is for, right? Solving problems? The impulse to buy another tool is understandable, but it is important to look at the big picture before making another well-intentioned purchase. First, notice how…
The Real Cost of Poor Leadership
As I left the man’s office, I couldn’t help but think his company was succeeding despite him. It could have been the way he talked in terms of “I” instead of “we,” how he talked about making all the decisions instead of empowering his people, or how most of his people worked there not because…
Leadership and Compassion – A Powerful Combination
Compassion is a fundamental pillar for highly effective leadership, however, it may not always enjoy the level of importance it deserves! Let’s explore some basics and the related implications…. What is compassion in practical terms? I found an appealing explanation of the term compassion at the “Greater Good” website and they state it as the…
Gilbane’s Paul Sullivan Named to the BD+C Class of 2016
Paul Sullivan, Vice President for Gilbane Building Company in Durham, North Carolina, was named to the prestigious Class of 2016 for Building Design + Construction’s annual 40 Under 40 awards. Having helped grow Gilbane’s North Carolina business unit to over $300 million in revenue in just five years is testament to why Sullivan was selected to the…
Legal
Registration Is Now Open for the 39th IRMI Construction Risk Conference
International Risk Management Institute, Inc. (IRMI), has opened registration for the 39th IRMI Construction Risk Conference (CRC). The Conference will be held November 10–13, 2019, at the Washington State Convention Center in Seattle. Each year, CRC brings together more than 2,000 leading project owners, general contractors, subcontractors, developers, insurers, and insurance agents and brokers for 3…
Elmore Goldsmith Named a Top 50 Construction Law Firm in the U.S.
Elmore Goldsmith, a Greenville, SC-based construction law firm, was recently named one of the Top 50 Construction Law Firms in the United States by Construction Executive (CE) magazine. According to CE, law firms specializing in construction have the unique industry experience essential to guide their clients through a complex maze of compliance and contracts to…
Elmore Goldsmith Attorneys Recognized as South Carolina ‘Super Lawyers’
Four attorneys from Elmore Goldsmith have been named by South Carolina Super Lawyers Magazine for 2019. 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. Elmore Goldsmith attorneys recognized as Super Lawyers are: L. Franklin…
Changes to Contractor Licensing Laws for 2018
The last legislative session in South Carolina saw a change in South Carolina’s contractor licensing laws. South Carolina has five different general contractor licensing groups. Each license group is determinative of the dollar value of work that a general contractor could perform and each with its own net worth requirement ranging from $10,000 to $250,000….
Management
Business Lessons from a Professional Athlete
We use sports analogies often in the business world. Winning comes from motivation and determination. Practicing hard and focusing on the details will lead us to victory. Never give up until the game is over. The phrases could go on. But very rarely do those of us in business consider the possibility that a practicing…
Construction Employment Rises in 45 States
Forty-five states and the District of Columbia added construction jobs between July 2017 and July 2018, while 29 states and D.C. added construction jobs between June and July, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials cautioned that continued job gains may depend on…
DOL Announces New Pilot Program to Expedite Resolution of Wage Violations
The Wage and Hour Division (WHD) has announced a new nationwide pilot program, the Payroll Audit Independent Determination (PAID) program, which facilitates resolution of potential overtime and minimum wage violations under the Fair Labor Standards Act (FLSA). The program’s primary objectives are to resolve such claims expeditiously and without litigation, to improve employers’ compliance with…
The Top Issues Facing Construction in 2018
Several industry surveys and reports forecast continued growth in the construction industry. Albeit, the growth shows a modest 4.8% increase, different from the double-digit growth in previous years. Regardless, there is still a general sense of optimism. With continued growth and positive outlook in the construction industry, what can possible be keeping construction executives up…
Marketing
Characteristics of a Marketing Centric A/E/C Firm
No real big surprise to the marketing professionals in the architecture, engineering, and construction industry that when it comes to marketing, our industry is often behind the curve of most other industries. Part of this is because marketing was outright illegal for professional services until the 1970s. Another reason is because there is a possible…
AEC Excellence Awards 2019 Call for Entries Now Open
Now in its eighth year, the AEC Excellence Awards competition—co-sponsored by Autodesk, Construction Dive, SmartCities Dive, and Informed Infrastructure —is an incredible way to honor the AEC (architecture, engineering, and construction) industry and the ingenuity of the professionals who are stretching the limits of what is possible in AEC. Enter now for this year’s AEC Excellence…
Storytelling Through Video
As I travel around the country visiting clients to discuss marketing plans, a common tactic that is presented is videos, specifically short format (less than four minutes). Many want to ramp up their existing video efforts, while others simply want to start, yet are nervous. Although the stats have been shared in this space numerous…
Constant Contact Adds New Facebook, Automation and Branding Tools to Marketing Platform
Constant Contact, an Endurance International Group (NASDAQ : EIGI) company and leader in small business marketing solutions, continues to evolve its platform with the launch of a new suite of tools that allows even the most inexperienced small businesses to benefit from sophisticated marketing. Designed, tested and proven to deliver ease of use and more results to…
Operations Management
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…
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…
Risk Management
Registration Is Now Open for the 39th IRMI Construction Risk Conference
International Risk Management Institute, Inc. (IRMI), has opened registration for the 39th IRMI Construction Risk Conference (CRC). The Conference will be held November 10–13, 2019, at the Washington State Convention Center in Seattle. Each year, CRC brings together more than 2,000 leading project owners, general contractors, subcontractors, developers, insurers, and insurance agents and brokers for 3…
The Question Is Not If Your Business Needs a Crime Policy, But Why
Crime is one of the most misunderstood commercial risks in the insurance industry today. There’s a tendency, especially among the owners of small-to-midsize businesses, to think of crime as a danger that exists outside the walls of their establishment. Keep the proverbial doors locked tight, and the bad guys can’t get in. But the reality…
Sentinel Releases 2019 Insurance Market Review and Forecast
Sentinel’s 2019 Insurance Market Review and Forecast reveals an industry grappling with an increasingly complex array of risks, uncertainty over integration of new technologies, a continual reshuffling of metaphorical chairs amid mergers and acquisitions, and a growing realization among carriers that they can no longer count on cyclical shifts in the market to deliver the…
Sentinel Presents “An Evening with Dr. Harry Broadman: Gaining Advantage in the Global Economy”
Renowned economist Dr. Harry Broadman will offer groundbreaking insights to shape how North Carolina businesses can and should gain advantage in the global economy at upcoming speaking engagements in Charlotte and Raleigh. Sentinel will host Broadman on November 7 at the Mint Museum Uptown in Charlotte, and on November 8 at the Carolina Country Club…
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…
Improving Leadership Effectiveness
In a previous issue of The Garrison Report, I discussed effective leadership. Using the following techniques will improve your leadership effectiveness and allow you to deliver a lot more value to your organization. 1. Have a list of people to whom you can delegate certain issues. We all have challenges, opportunities, problems or important tasks that need to be…
More Business
Registration Is Now Open for the 39th IRMI Construction Risk Conference
International Risk Management Institute, Inc. (IRMI), has opened registration for the 39th IRMI Construction Risk Conference (CRC). The Conference will be held November 10–13, 2019, at the Washington State Convention Center in Seattle. Each year, CRC brings together more than 2,000 leading project owners, general contractors, subcontractors, developers, insurers, and insurance agents and brokers for 3…
Dominion Energy and Smithfield Foods Break Ground on Largest Renewable Natural Gas Project in North Carolina
Dominion Energy and Smithfield Foods, Inc. are pleased to announce that the companies are breaking ground on North Carolina’s largest renewable natural gas (RNG) project through their joint venture, Align Renewable Natural Gas (RNG)SM. Located in Duplin and Sampson counties, this project will generate enough energy to power more than 3,500 homes annually upon completion. Align RNG is…
Irish Tech Company, GoContractor, Aims to Revolutionize U.S. Construction
Safety first! Particularly in the construction industry, where mistakes on the worksite can truly mean life, death or a hefty medical bill. It’s better to be safe than sorry, right? Safety keeps site-projects profitable while ensuring a positive brand reception, where one major mishap can mean unimaginable public backlash. As mechanization evolves and more tech-solutions…
FMI Releases 2019 Building Products Market Update
FMI Corporation, the leading provider of consulting and investment banking services to the Built Environment, is pleased to announce the release of its inaugural Building Products Market Update. The publication explores ways for manufacturers and distributors to position their company for growth in the building products industry, despite a potential market slowdown. Looking to the…
