After nearly a week of extra-innings deliberation, a New York City jury finally convicted regional concrete testing giant Testwell Laboratories on Feb. 25 of racketeering stemming from allegations it filed fake test results on more than 80 buildings. Testwell Laboratories, its CEO, V. Reddy Kancharla, and Vice President Vincent Barone were found guilty of enterprise corruption, which carries a mandatory prison term of one year and could put the two executives behind bars for as many as 25 years. "Testwell’s conduct was reprehensible not only for its pattern of theft and deception, but for its utter disregard for the safety
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.