Schiavone Construction Co. has agreed to pay a $22.4-million settlement of a federal investigation of Schiavone’s use of phony companies in place of legitimate minority-owned businesses on four big New York City infrastructure contracts, prosecutors said Nov. 29. Photo: NYC DEP Subcontracting on Croton water filtration plant in Bronx, N.Y. and other projects are at center of fraud settlement. Related Links: Investigators Target Big Firms In Minority Hiring Probe Feds Drop Charges Against Schiavone Manager Donovan Wins Dismissal of Sale-Related Lawsuit Donovan: Give Me Back My Reputation! The payment is a “civil settlement agreement” made with the U.S. Attorney in
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.