Hiring a new employee is supposed to be a long-term commitment. It’s a huge disappointment to go through the entire recruitment and training process with a new employee only to see them leave not long afterwards. The aging workforce is retiring or cutting down in work hours, and the need for replacements is increasing steadily. Younger employees are a sensible choice, but they often require training. Continue »
With the construction industry slowly regaining momentum, joint ventures (JVs) are becoming an increasingly popular way for contractors to accelerate their recovery. Entering into a JV with another company can provide a contractor with access to a new market, new building techniques or technology, or additional financing or bonding capacity. In other instances, a JV partner might bring needed customer contacts, minority ownership qualification or other desirable attributes.
As advantageous as a JV might be, it also presents risks. In fact, entering into a JV often is compared to entering a marriage: The rewards can be great, but so can the heartaches if the partners are not well suited for each other. Continue »
After the November presidential election, U.S. Congress members locked horns and took the remainder of the year—and two more days in 2013—to reach a deal that precluded massive tax increases for millions of Americans. This agreement, however, focused exclusively on revenue and did not address the debt ceiling or include spending cuts that House Republicans wanted to see. Continue »
With the primary provisions of the Patient Protection and Affordable Care Act (PPACA) set to take effect, many contractors are beginning to take a closer look at the law to determine whether they will be required to offer health insurance to their employees next year under the employer mandate.
However, another provision many contractors aren’t aware of could affect businesses starting this year. The PPACA includes a new Medicare surtax on unearned income that is intended to help fund the law’s provisions. Historically, the Medicare surtax has been levied on earned income only; now, unearned income may be subject to a payroll tax of 3.8 percent. Continue »
Cause marketing is big business. From pink ribbons on products to corporate hunger relief efforts, many for-profit businesses and non-profit organizations partner on mutually beneficial campaigns. In fact, corporate cause sponsorships were estimated at $1.73 billion in 2012, according to the IEG Sponsorship Report.
Many companies in the construction industry give little thought to cause marketing as they focus on holding their own through the tough recession. Even amid the uncertain recovery, construction companies should consider whether cause marketing could be a good move. Continue »
Industry executives on the 2013 Architecture & Engineering (A&E) Market Outlook Panel Discussion at the Center for Architecture in New York shared their perspectives on the 2013 A&E Market Outlook Survey Results Report, a detailed report prepared by Grassi & Co. and Zetlin & De Chiara LLP that summarizes what a cross-section of A&E executives are seeing in the New York Metropolitan Region. Following are highlights of the findings and a discussion of trends that emerged from the data. Continue »