Related Links: Engineering News Record Architectural Record Builder Lend Lease (U.S.) Construction LMB Inc., formerly Bovis Lend Lease, and its onetime top New York City executive on April 24 settled charges of decade-long overbilling, worker time-sheet padding and other fraud charges on public and private projects there.The pact with the U.S. Attorney in Brooklyn defers prosecution of the firm. Lend Lease agreed to pay $56 million in penalties and compensation and implement "far-reaching corporate reforms."James Abadie, 55, who had been executive vice president of Bovis and principal-in-charge of its New York City operations, pleaded guilty to conspiring to commit mail
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.