FMI: Despite market growth, contractors should still ‘recession proof’

Denise Gillin Uncategorized

Sometimes, the longer a good thing lasts, the louder rumblings get that a reality check could be around the corner, and construction industry economics is no exception. However, it’s smart to prepare for a wide variety of economic conditions, and that’s one of the messages in management consulting company FMI Corp.’s 2019 forecast for the engineering and construction sectors. Read …

What can be gleaned from 2018’s highest-profile construction bankruptcies?

Denise Gillin Uncategorized

Bankruptcy is many contractors’ worst nightmare. For some companies, it’s a public declaration that it was not able to handle its business dealings successfully, and that it can’t pay its bills. In any industry, including construction, maintaining a reputation as solid and trustworthy is critical, and to onlookers, a bankruptcy filing — whether it’s liquidation or reorganization — could very …

CBI Named In SBA Top 10 Performing Bond Agencies

Denise Gillin Uncategorized

Construction Bonds, Inc. is honored to be listed among the U.S. Small Business Administration’s (SBA) top performing bond agencies for FY2018! The SBA announces its most active surety companies and bond agencies every year. The standing of each agent is determined by the number of bond guarantees they wrote through the Surety Bond Guarantee (SBG) program. The mission of the …

Large-scale Solar Project Proposal in Final Stages

Denise Gillin Uncategorized

The North Kingstown Planning Commission discussed Tuesday one of the final pieces of a proposed plan for a large-scale solar project: the means and payment for the future decommissioning of the project once it’s reached the end of its lifespan, something that would also need to be reviewed by the bond council before the project can go forward. Back in …

Why Every Small Business Needs an Accountant

Denise Gillin Uncategorized

Is your business missing out on essential accounting resources that could help it grow? Money—it’s how you measure success in business. It’s also how you pay the bills, pay your employees, and keep your business running. Unfortunately, many small business owners are selling themselves short by operating without essential accounting resources, according to a survey by Clutch. Read the Article …

Georgia Construction Sector May Run Short On Workers

Denise Gillin Uncategorized

The construction sector in Georgia has done so well it seems to be out-pacing the economy’s ability to fuel its growth. Even while there’s murmuring about a possible recession, industry leaders say they expect the economy to keep expanding, but they have reached the point where more construction spending is testing their ability to do the work. Tell me more …

Don’t Punish Contractors for Government Mistakes

Denise Gillin Uncategorized

You can see the signs everywhere: cranes in the sky and construction workers on the ground. New York is experiencing a construction boom. Not only are we watching the New York of tomorrow rise up today, but construction work also drives economic activity and growth. Billions of dollars are injected into the local economy through publicly funded projects alone, as …

Early Execution of Key Subcontracts Important Step

Denise Gillin Uncategorized

A recent decision by the Armed Services Board of Contract Appeals reminds us of the importance of obtaining commitments from your key subcontractors after award. In CDM Constructors, Inc. (August 20, 2018), the ASBCA dismissed on summary judgment a construction contractor’s claim for increased costs arising out of a contract for the construction of dissolved oxygen injection systems at two …