What’s the business case for providing company vehicles rather than reimbursing drivers who use their own vehicles? Improved cash flow, reduced operating costs, improved safety, enhanced driver morale and a more professional image. Each of these factors is significant independently; together, they make a compelling case for providing company vehicles. Continue »
Marketing is a creative process–more art than science. Wrestling with difficulties in work acquisition in recent years, some construction companies have reached out for assistance while others have attempted to carry out their programs in-house. A multitude of project lead resources are available, so either these resources don’t work, or construction firms do not know how to utilize them. Continue »
Construction Executive magazine celebrated its first decade of monthly publication in January 2013 with a very special 10th Anniversary Issue. We would like to recognize and thank the following corporate sponsors who made this edition possible. Continue »
The Internal Revenue Service (IRS) has issued new, comprehensive guidance on a fundamental tax issue: Is an expenditure a current repair or supply deduction, or must it be capitalized and depreciated over many years? For the most part, the regulations—under discussion since 2004—are nearly complete, with only minor changes anticipated before they become final in 2013. They apply to virtually every business that incurs repair and maintenance costs and owns tangible property. Continue »
Many construction firms feel that renovation, remodeling and alteration (RRA) projects are a nuisance, eat into profits and hurt cash flow. But views are changing. RRA projects increasingly are being viewed as untapped opportunities waiting to be defined and delineated into revenue streams. Continue »
This is the first of a three-part series of articles that will address bribery schemes in the construction industry. Each article will discuss the different types of transactions involving bribery and methods of prevention and detection.
Wendell Walters, a former assistant commissioner at the New York City Department of Housing Preservation and Development, pleaded guilty in March 2012 to accepting $2.5 million in bribes. He was arrested in October 2011 on racketeering charges and accused of taking kickbacks from real estate developers in exchange for directing contracts exceeding $22 million to them. In his statement, Walters admitted to helping developers and contractors “get on the approval list” for city contracts in exchange for “cash payments and other benefits.” The Brooklyn U.S. attorney in this case also charged six developers with bribing Walters and demanding kickbacks from contractors. In addition, they have been accused of increasing invoice amounts to absorb the costs of the bribes.