A Colorado electrical contractor appears to have had a shocking experience in its efforts to collect more than $600,000 due it for electrical work on a lower downtown Denver condominium project. Appropriately, the name of the electrical contractor was Sure-Shock Electric Inc. Not having been paid, Sure-Shock filed a mechanic’s lien describing the entire project, but it served only the required 10-day notice on the owner of seven unsold units. Because there was an arbitration requirement in its contract, Sure-Shock arbitrated the question of how much it was owed and then proceeded to court for a determination of the validity
Construction industry employment reached a five-year high in August as the sector added 20,000 jobs and its unemployment rate fell to 7.7%, the lowest rate for August in seven years, according to a recent analysis by the Associated General Contractors of America and the Associated Builders and Contractors. “Construction employment growth has been accelerating and is broad-based,” said Ken Simonson, AGC’s chief economist. “The increase in the past 12 months was the largest since 2006 and was spread among residential, nonresidential building and heavy construction.”Construction employment totaled 6,068,000 in August, the highest total since May 2009, with a 12-month gain
Power outages are never welcome, no matter when they occur. But at the University of Utah, a campus that includes biomedical research facilities, a Level 1 trauma center and a cancer research hospital, power outages caused by aging infrastructure were more than an inconvenience. They also have been happening more frequently since the mid-2000s. Established in its current location in the foothills East of Salt Lake City in 1900, the U of U campus now covers nearly 1,600 acres and includes 130 separate buildings, with 10 more under construction or slated to start in the next five years, adding to
The I-225 Rail Line under construction through the Denver suburb of Aurora is a key piece of the region's mass transit infrastructure—and a long-awaited link between the metro area's growing southeastern suburbs and Denver International Airport, one of the world's busiest hubs. Related Links: RTD Board Approves Kiewit Proposal for I-225 Rail RTD Breaks Ground on I-225 Rail Project The 10.5-mile light rail line, dubbed the Aurora Line by the city, will connect the Regional Transportation District's (RTD) largely completed Southeast light rail line and its East commuter rail, scheduled to be finished in 2016. The eastern line originates in
The leaders of regional contracting firms say that 2014 is unfolding as part of a slow, steady recovery, despite a dip in revenue last year for most GCs. The ranking of top contractors in this issue is based on 2013 revenue, which was down for most area firms. Related Links: New Xactware HQ in Lehi Built for Efficiency CU Boulder Rec Center Upgrade Seeks LEED Platinum This year "is a little healthier than 2013, led by the industrial, health care and office markets," says Rob Moore, president of Big-D Construction Corp., Salt Lake City. "Generally speaking, we are in a
Nowadays, it seems that almost every business and profession has an LLC after its name. That’s intended to indicate a “limited liability company.” What most people don't seem to realize is that those three letters alone don’t always mean “limited liability.” The idea of a limited liability company is generally good. If properly organized and maintained, limited liability companies have some of the benefits of corporations and some of the benefits of partnerships. There may be income tax advantages; company members have almost unlimited ability to make their own rules governing the activities, and their personal liability to third parties
The Conference Board Consumer Confidence Index, which had increased in July, improved further in August. The Index now stands at 92.4 (1985=100), up from 90.3 in July. The Present Situation Index increased to 94.6 from 87.9, while the Expectations Index edged down to 90.9 from 91.9 in July. Consumers’ appraisal of current conditions continued to improve through August. Those saying business conditions are “good” edged up to 23.9% from 23.3%, while those claiming business conditions are “bad” declined to 21.5% from 22.8%. Consumers’ assessment of the job market was also more positive. Those stating jobs are “plentiful” increased to 18.2%
Construction employment expanded in 223 metro areas, declined in 72 and was stagnant in 44 between July 2013 and July 2014, according to a new analysis of federal employment data recently released by the Associated General Contractors of America. As employment grows, 25% of firms report labor shortages are forcing them to turn down work, according to a new survey conducted by SmartBrief, an industry leader in curated business news and custom content, in partnership with the association.“Many construction firms looking to expand their payrolls are finding a surprisingly tight labor market,” said Ken Simonson, the association's chief economist. “These
The Dodge Momentum Index erased the gains made over the last two months, falling 4.4% in July to 121.4 (2000=100). This marks the index’s first decline in four months, according to McGraw Hill Construction, a division of McGraw Hill Financial. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.While the Dodge Momentum Index stumbled in July, on a year-over-year basis it remains 16.5% higher than a year earlier. The July decline therefore may simply be
The last three months have shown steadily increasing demand for design services and the Architecture Billings Index (ABI) is now at its highest level since 2007. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the July ABI score was 55.8, up noticeably from a mark of 53.5 in June. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 66.0, following a very strong mark of 66.4 the
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