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Business

Accounting

Weakened Economy and Higher Borrowing Costs Dog Construction Industry, Reports Marcum Survey

October 15, 2022

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

August 2, 2022

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

May 21, 2022

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,…

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Banking

FMI Capital Advisors Releases 2022 Construction Materials Outlook

January 18, 2022

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

September 3, 2018

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

June 2, 2017

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….

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Diversity & Inclusion

ICSC and Partner Associations Form the Commercial Real Estate Diverse Supplier Consortium

February 15, 2023

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

November 10, 2022

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

November 4, 2022

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…

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Finance / Bonding

FMI Corporation Acquires Investment Bank SLATE Partners

October 19, 2022

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

July 20, 2022

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

July 6, 2022

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…

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Government Affairs

ABC Opposes the Biden Administration’s New Independent Contractor Proposed Rule

October 11, 2022

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

September 27, 2022

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

August 18, 2022

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…

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Human Resources

Mentoring in Construction: Benefits and Best Practices

February 28, 2023

Mentoring is important for professional development of employees in all roles in the construction industry. At its core, mentoring is a learning relationship. Mentorship relationships can be a two-way street, where both the mentor as well as the mentee are able to learn, grow and support one another. As the construction industry faces unprecedented talent challenges,…

Understanding Zoomers: What Drives Them and Their Impact on the Future

February 18, 2023

Generation Z is growing up. Sandwiched between Millennials and Generation Alpha, this group is emerging as an influential demographic and driving impactful change that will shape our future in ways we haven’t seen before. This demographic, also known as Zoomers, is the largest generation on Earth, ranging in age from 10 to 25. While we…

Construction Sector Adds 25,000 Employees In January As Firms Raise Pay Faster Than Overall Private Sector In Bid To Attract More Workers

February 4, 2023

Industry Employment Hits New Record Amid Strong Demand, But Firms Would Have Hired Even More Workers as Construction Officials Call for Measures to Enable More People to Work in the Industry Construction firms added 25,000 employees in January and raised wages for hourly workers more steeply than other sectors, according to an analysis by the Associated General…

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Leadership

Egnyte’s Annual AEC Summit to Provide Insights on the Important Role of Technology in the AEC Industries

February 28, 2023

Egnyte, the secure platform for content collaboration and governance, will host a virtual summit bringing together technology and business experts across the architecture, engineering and construction (AEC) sectors to talk about the challenges companies face in today’s economy and how technology can make these businesses more resilient in the face of economic uncertainty. The AEC Summit will…

Tomorrow May Never Come

January 21, 2023

None of us knows how much time we have, so don’t put off making the changes you need to make in your life. On January 6, my wife and I spent about an hour and a half in the office of our friend and insurance agent, Brant Barnes, talking about flying (he became a pilot…

Study Shows What Soccer Can Teach Managers About Hiring Top Talent

December 5, 2022

With the 2022 FIFA World Cup tournament underway as the world’s most widely viewed and followed sporting event, it’s also an opportunity for players to impress scouts from major clubs with holes in their rosters. Relatedly, recent research co-authored by management professor Gilad Chen at the University of Maryland’s Robert H. Smith School of Business reveals how and when teams can make…

More Leadership →

Legal

What’s in a Name? Why Your Business May Need to Update its Assumed Name

March 17, 2023

Do you operate your business in North Carolina under an assumed name? If so, it is important to ensure your assumed name is still effective given statutory changes effective December 1, 2022. What is an assumed name? Assumed names are a common feature of doing business in North Carolina. In general, an assumed name is a…

Construction Law: Poyner Spruill LLP Welcomes Jamie Blue as Associate in Raleigh Office

March 15, 2023

Poyner Spruill LLP is pleased to welcome new associate, Jamie Blue, based in the Raleigh office. Blue represents commercial construction clients — including developers, architects, owners, sureties, general contractors, and suppliers — in all phases of construction law. In addition to being a North Carolina-licensed lawyer, Blue is also a licensed North Carolina Professional Engineer….

Need Construction Legal Advice? Look No Further Than Poyner Spruill’s Matt Bouchard

February 3, 2023

On any given day, you can find Poyner Spruill LLP partner Matt Bouchard busy negotiating commercial construction contracts, resolving multi-million dollar disputes, or counseling clients on successful project completion. Bouchard leads the firm’s Construction Law Practice Area, a group of five attorneys who focus on commercial construction matters in the Carolinas. The team handles everything…

More Legal →

Management

CEO Confidence and Consumer Demands on the Rise: Marcum-Hofstra CEO Survey

February 28, 2023

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

October 30, 2022

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

August 18, 2022

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…

More Management →

Marketing

Are Your Employees Listening? Connecting through Podcasts

March 2, 2023

In today’s world, employees and clients are inundated with news and messages constantly, not to mention juggling remote work, jobsite visits, and interacting with clients. Team members can feel disengaged, disconnected, and uninspired. How can you connect and reach them? ECS recently launched a podcast to engage with our employees and clients for this reason….

Egnyte’s Annual AEC Summit to Provide Insights on the Important Role of Technology in the AEC Industries

February 28, 2023

Egnyte, the secure platform for content collaboration and governance, will host a virtual summit bringing together technology and business experts across the architecture, engineering and construction (AEC) sectors to talk about the challenges companies face in today’s economy and how technology can make these businesses more resilient in the face of economic uncertainty. The AEC Summit will…

SMPS SERC to be Held in Wilmington, NC

February 26, 2023

Marketers and business developers from the architecture, engineering and construction industries will descend on Wilmington, NC for the Society of Marketing for Professional Services (SMPS) Southeast Regional Conference (SERC), March 20-24, 2023. The 2023 SMPS SERC Planning Committee and the Research Triangle Chapter will be hosting the event at the Wilmington Convention Center in the…

More Marketing →

Operations Management

Chemistry for a Successful Project Team

December 11, 2022

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

June 16, 2022

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

June 16, 2022

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…

More Operations Management →

Risk Management

Owens Insurance Agency Celebrates 70 Years in Business

December 7, 2022

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…

Sandra Johnson Promoted to Director of Operations for Owens Insurance Agency, Specialists in Serving Contractors

April 24, 2022

Owens Insurance Agency, an independent insurance agency with a 70-year presence in the Upstate, has promoted Sandra Johnson, CISR, INS, SM, to Director of Operations. Johnson serves as the point of contact for the agency’s carriers and is responsible for overseeing the agency’s administrative functions. She is based in Owens Insurance’s home office in Greer,…

Chad Hannon Promoted to Market President for Owens Insurance Agency, Specialists in Serving Contractors

March 24, 2022

Owens Insurance Agency, an independent insurance agency with a 70-year presence in the Upstate region of South Carolina, has promoted Chad Hannon, CLCS, to Market President for the agency’s home office in Greer, South Carolina. In this role, Hannon will focus on continuing to grow the commercial side of the business, which accounts for about…

More Risk Management →

Strategy

The Wooten Company Opens New Winston-Salem Regional Office

May 4, 2016

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?

January 26, 2016

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?

January 26, 2016

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 Strategy →

More Business

What’s in a Name? Why Your Business May Need to Update its Assumed Name

March 17, 2023

Do you operate your business in North Carolina under an assumed name? If so, it is important to ensure your assumed name is still effective given statutory changes effective December 1, 2022. What is an assumed name? Assumed names are a common feature of doing business in North Carolina. In general, an assumed name is a…

Understanding AI and ChatGPT for Construction Marketing

March 16, 2023

As technology continues to evolve, construction marketers are constantly seeking new ways to streamline their processes and improve their effectiveness. Tools based on Artificial Intelligence (AI), the ability of machines to perform tasks that would normally require human intelligence, are accelerating in user adoption. One tool that is becoming increasingly popular among construction marketers is…

Construction Law: Poyner Spruill LLP Welcomes Jamie Blue as Associate in Raleigh Office

March 15, 2023

Poyner Spruill LLP is pleased to welcome new associate, Jamie Blue, based in the Raleigh office. Blue represents commercial construction clients — including developers, architects, owners, sureties, general contractors, and suppliers — in all phases of construction law. In addition to being a North Carolina-licensed lawyer, Blue is also a licensed North Carolina Professional Engineer….

Construction Input Costs Rise 0.4 Percent In February, Outpacing Bid-Price Increase Of 0.1 Percent, As Wide Variety Of Materials Posts Price Gains

March 15, 2023

Large Increases Hit Price Indexes for Flat Glass, Metals, Cement, and Paving Materials; Association Officials Urge Federal Leaders to Ease Proposed Rules that Will Make Products Even More Expensive The price of materials and services used in nonresidential construction increased by 0.4 percent from January to February, outpacing the 0.1 percent increase in contractors’ bid…

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What We’re Reading

  • Raleigh business leader Earl Johnson Jr., dies at 91
    Source: Business North Carolina Published on March 19, 2023
  • Vance-Granville CC pursuing advanced manufacturing center
    Source: Business North Carolina Published on March 19, 2023
  • Aging workforce, changing attitudes among challenges facing state’s fishermen
    Source: Business North Carolina Published on March 19, 2023
  • UBS to buy Credit Suisse. Stakes are high for Raleigh-Durham
    Source: Raleigh Business Journal Published on March 19, 2023
  • Greenville Planning Commission: 32 townhomes approved for old Piedmont Engineering property
    Source: Upstate Business Journal Published on March 17, 2023

Recent Posts

  • What’s in a Name? Why Your Business May Need to Update its Assumed Name
  • Q& A on the Industrial Real Estate Market with Agracel’s Jason Vaughn, P.E.
  • Understanding AI and ChatGPT for Construction Marketing
  • Construction Law: Poyner Spruill LLP Welcomes Jamie Blue as Associate in Raleigh Office
  • Construction Input Costs Rise 0.4 Percent In February, Outpacing Bid-Price Increase Of 0.1 Percent, As Wide Variety Of Materials Posts Price Gains

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