Trump Considers Private Activity Bonds to Help Address Infrastructure Costs

Joshua Etemadi Bonds, Construction

By Ballard Spahr for “JDSUPRA” The White House released a 53-page framework on Tuesday setting forth its legislative goals for rebuilding America’s infrastructure (the Infrastructure Plan). The Infrastructure Plan is intended “to lead to at least $1.5 trillion in investments to rebuild our failing infrastructure and develop innovative projects” through $200 billion in federal funding to promote state and local governmental and private sector investment over the next 10 years. This would largely shift funding for infrastructure away from the federal government to state, local and private sector funding sources. Read the article >>>

Drones With Thermal Sensors Can Detect Hot Spots, Delamination, Moisture Instrusion, Spalling

Joshua Etemadi Bonds, Construction

In the U.S., commercial drone use has accelerated across many industries. In the last two years, one million new pilots have registered with the Federal Aviation Administration, and by 2020, experts expect seven million drones to be in use. The 2017 Drone Market Sector Report found that construction (design, building inspection or monitoring) is in the top three uses for commercial drone-based services, behind aerial photography, surveying and mapping, and geographic information systems (GIS). The number of construction and engineering companies using drones is expected to continue to grow, as use cases emerge that offer further business value and competitive advantage for companies with drone programs. Read more here >>>

Surety Agreed to Post Bonds to Cover Subs’ Construction Lien Claims

Joshua Etemadi Bonds, Construction

Behind the gleaming glass façade of LaSalle’s new civic centre lies a tangled mess of construction liens and lawsuits still making its way through the courts three and a half years after the building opened to the public. Battling in the civil courts are Piroli Construction, the general contractor on the $13.8-million project, and the Town of LaSalle, as well as several subcontractors who claim they were never paid for work they completed. Tuesday, a Superior Court judge ordered that seven separate lawsuits be dealt with together when and if they ever go to trial. They include Piroli’s $319,000 claim against the town, the town’s counterclaim of $75,000 against Piroli for breach of contract and six construction liens totalling $613,604 naming …

Benchmarking Limits of Liability for ESOP Companies

Jeff Gelburd ESOP

As an employee-owned insurance broker, Murray administers an affinity insurance program for executive liability insurance. This program is open to insurance agents and brokers throughout the country, and is endorsed by The ESOP Association (TEA) and underwritten by Great American Insurance Group. The Program has been providing coverages to Employee Stock Ownership Plan (ESOP) companies since 1989, and now offers cyber liability insurance. ESOP companies in need of director’s and officer’s (D&O), fiduciary liability, or employment practices liability (EPL) insurance often struggle with the limits of insurance to purchase. This report – the third of its kind in the last ten (10) years – benchmarks limits of liability based on: Company asset size (D&O); ESOP plan assets (fiduciary liability); and Employee …

US GDP Growth to Contribute to New Construction in US, Canada

Joshua Etemadi Bonds, Construction

Groundbreakings on several mega projects late last year lifted ConstructConnect’s 2017 total U.S. starts to +11.1% versus 2016, more than the +7.9% set out in the previous quarterly forecast. The out-front timing of those mega project starts also caused trimming of ConstructConnect’s expectations for 2018, which is now being projected at +3.0% year over year versus the prior projection of +4.8%. Read more about the forecast >>>

Groups Unsure of Whether Trump’s Infrastructure Plan Will Include Gas Tax

Joshua Etemadi Bonds, Construction

WASHINGTON – President Trump will unveil his long-awaited infrastructure proposal Monday to shift $200 billion over the next decade from other federal programs to pave the way for $1.5 trillion for roads, bridges, waterways and railways. Trump’s approach is to let Congress negotiate the details. His four objectives are to stimulate new investment, streamline federal permitting, invest in rural projects and improve the workforce, according to four senior administration officials who briefed reporters Saturday. Tell me more >>>

Ohio County Files Breach-of-Contract Lawsuit Against Surety, Excavating Contractor

Joshua Etemadi Bonds, Construction

Mahoning County commissioners have filed a lawsuit which claims a local excavating company and a Cincinnati bonding company have failed to meet the terms of their contracts. The lawsuit filed Monday in common pleas court claims X-Press Underground Inc. of Petersburg failed to complete its $418,075 contract to replace a pump station in New Middletown. A pump station contains pumps and equipment for moving sewage from a lower to a higher elevation to a treatment plant. The commissioners voted to terminate their contract with X-Press in October. Read what happened next >>>

Contractors Need to Know Pros and Cons of Direct Payments to Subs

Joshua Etemadi Bonds, Construction

Main contractor Carillion’s entry into liquidation has resulted in many employers seeking to establish relationships with subcontractors, under which they will be paid directly in order to stay on site and finish the relevant project. On the face of it, this seems like an attractive solution, and may leave some employers wondering why they didn’t procure their projects by construction management in the first place. However, establishing direct relations is not without risks, and requires safeguards for employers and subcontractors alike. Those are set out in the last section of this article, but it is important to understand the pitfalls, particularly of direct payment, first. Read about direct payment pitfalls >>>

Wall Street’s Wild Ride

Russ Harlan News, Wealth Management

We just witnessed the biggest 1-day point drop in the Dow Jones Industrial Average’s (DJIA) history. However, it’s not the biggest percentage drop to occur; it doesn’t even break the top 50. Remember black Monday in 1987, the Dow lost 508 points, that’s a 22.8% crash. The DJIA fell 1,175.21 points, or 4.6%, to 24,345.75. The other major indexes dropped about the same percentage. What does all of that mean? Too often we talk about the market as this nebulous term, an all-encompassing adjective when discussing fluctuation. I would like to take a moment to talk about what this drop means. Nothing. The recent down turn in the DJIA doesn’t mean that much in the grand scheme of things. Let’s …

Employment Law: Doing Business Across State Lines in 2018

Denise Gillin Human Resources, News

By Eric Athey, McNees Wallace & Nurick, LLC Keeping up with compliance requirements under Pennsylvania and federal laws can be challenging enough; however, for Pennsylvania employers that do business in multiple states, the compliance burden can grow exponentially. It is expected that we will see little new federal employment legislation over the next few years. However, the lack of legislative activity in Washington may prompt some state legislatures to place a greater emphasis on employment issues than usual. It already appears that 2018 will yield a bumper crop of new state employment laws across the nation. What you need to know >>>