The Difference Between a Balance Sheet and an Income Statement

Denise Gillin News

Posted by Shayne Albine for OldRepublicSurety We often get questions about financial statements and why they are important to the bond underwriting process. Underwriters will generally ask for several key financial documents, including a balance sheet and an income statement. These financials help us determine the liquidity of a business and its ability to generate income. A balance sheet indicates …

Q&A: Surety Bonds and the IIJa

Denise Gillin News

By Kim Slowey for The Construction Broadsheet One of the big selling points of the recently passed, $1.2 trillion Infrastructure Investment and Jobs Act was that it would create opportunities in the construction industry. The IIJA includes approximately $550 billion of new spending, including $110 billion for roads and bridges, $66 billion for railroads, $65 billion for power grid upgrades, …

The Top 12 Drivers of Construction Disputes and How to Avoid Them

Denise Gillin News

By Julie Strupp for ConstructionDive The toll of disputes on the industry is staggering. The value of claims on the 1,100-plus projects HKA, a global consulting firm, studied worldwide from 2018-2020 worked out to $48.6 billion (excluding legal and related fees) and the extensions of time claimed would accumulate to 593 years, according to the report. Click here to learn …

Growth and Expansion: What to Expect From Your Surety

Denise Gillin News

By William Chapman for Construction Executive The decision of whether to grow and expand is one that contractors face daily. Some of the many reasons why a contractor may decide to grow or expand include requests from key customers, access to additional capital, the addition of key personnel, market conditions, strategy or necessity. Growth and expansion can take many forms: …

What’s In The Infrastructure Bill?

Denise Gillin News

By Adam Redling for Construction & Demolition Recycling On Nov. 6, Congress passed the much-anticipated and hotly contested infrastructure bill after months of political wrangling. The plan, which boasts a price tag of $1.2 trillion, will help rebuild roads, bridges and rail; expand access to clean drinking water; ensure access to high-speed internet; reduce the impacts of the climate crisis; and …

Construction’s Diversity Numbers Are Awful. Here’s How 3 Contractors Are Improving Theirs.

Denise Gillin News

By Joe Bousquin for ConstructionDive When it comes to diversity and inclusion, construction is still on the ground floor. Compared to the overall workforce, the construction industry is overwhelmingly White and male. Even though Hispanic or Latino people, which is a measure of ethnicity and not race, make up 30% of construction workers, they’re often in lower-level positions without opportunity for …

Here’s What to Do if You Are Denied PPP Loan Forgiveness

Denise Gillin News

By Lisa Price for Small Business News If you were denied for all or part of the money on your PPP loan forgiveness application, your appeal must be timely. You have 30 days to appeal. The clock starts when you receive written notification from the Small Business Administration (SBA). This is an important element of the 30-day time frame. It’s NOT 30 …

First a Pandemic, Now Rising Prices Complicate Pittsburgh-area Construction Projects

Denise Gillin News

By Mark Belko for Pittsburgh Post-Gazette Rising construction costs represent the latest challenge facing local developers and contractors as they seek to navigate the COVID-19 pandemic. During a panel discussion Thursday, representatives from the University of Pittsburgh, UPMC, the Elmhurst Group and Rycon Construction said increases in the price of structural steel, copper, wood and other materials have had an …

Addressing the Skilled Labor Shortage in 4 Steps

Denise Gillin News

By Luiza Mills for ConstructionDive.com “Good jobs at good wages” is not just a political slogan. The electrical industry is making good on this ambitious promise today. Solid careers with promising, sky-is-the-limit futures for smart, hardworking professionals are available right now, no costly college degree required. Given this, how do we explain the chronic shortage of skilled electricians and other tradespeople? …

Construction of Maryland’s Much-delayed Purple Line to Resume Early Next Year

Denise Gillin News

By Julie Strupp for ConstructionDive.com The project has attracted national attention as it is one of the first of its kind to rely on private funding. Unfortunately the line has been plagued with delays and lawsuits, and the initial contractor quit the public-private partnership (P3) last September following disputes with the state over who should pay for the nearly $800 million in cost …