An interim rule issued on July 8 by the Obama Administration requires certain federal contractors to report the total compensation of their highest-paid executives and first-tier subcontractors’ top managers. The requirement will phase in through March 2011. The rule also requires federal contractors grossing $300,000 or more in the last tax year to report first-tier subcontract awards. That mandate took effect immediately.
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.