New Mexico Gov. Bill Richardson (D) has withdrawn from his nomination as Dept. of Commerce Secretary in President-elect Barack Obama’s cabinet. In a Jan. 5 news conference, Richardson stated that an ongoing federal grand jury investigation into a state contract related to Governor Richardson’s Investment Partnership (GRIP) won by Beverly Hills, Calif.-based CDR Financial Products “would have forced an untenable delay in the confirmation process.” The investigation centers around a $1.48-million consulting contract CDR won in 2004 with the New Mexico Finance Authority, a state instrumentality that finances infrastructure projects by providing low-cost funds and technical assistance. CDR was part
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.