HEATHER MARTIN Getting the job is critical. But the contract, payment and invoice terms are equally as important. For example, retainage of five percent instead of ten percent can make a huge difference for your cash flow and profitability. So what do you need to know before, during and after you negotiate the deal? Prior to being awarded the contract, you should have double-checked your numbers, quantities and assumptions about the job, and then you negotiated a price with your client. But once you receive the contract, you should be careful to check that everything is accurate and that all
Featured Product 04/01/2010 E-42 Compact Excavator One of the latest additions to the Bobcat M-Series of excavators, the E-42 Compact Excavator is a conventional tail swing unit with an operating weight of 9,246 lbs. It is powered by a 41.8-hp liquid-cooled diesel engine and features redesigned hydraulics with a load-sensing pump and a closed center-valve system for improved control during travel and operation. The standard arm has a maximum reach of 207 in., with a maximum dig depth of 126 in. The E-42 has an auto-idle function, which if activated by the operator, automatically idles the engine if the excavator
Construction is underway on a $41 million project at Newtown High School in Newtown, Connecticut, designed by project architect, Fletcher Thompson Associates of Shelton, Connecticut and lead by construction manager, The Morganti Group, Inc. of Danbury, Connecticut. Photo: Gaffney Bennett Public Relations The project consists of a 70,000-sq-ft addition to the new gymnasium and 15,000 sq ft of interior renovation and is slated for completion in January 2011. Originally built in 1970 and expanded in 1997 to accommodate a growing student population, Newtown High School required even further expansion in 2007. As a result, a 73,000-sq-ft addition to the existing
We’re nothing if not creatures of habit and routine. Just as I know that every September begins the judging process for that year’s Best Of awards, February and early March mean gathering data for our annual Top Contractors rankings. It’s not as difficult as it sounds: we simply leave it to you guys to get us as much information to us as you can. We begin sending out the surveys in the early part of the year, setting a deadline for the last week, or so, of February. The surveys ask each firm to break down the amount of revenue
One of the harshest construction markets in decades is reminding contractors why it’s great to be a specialist, but even better to have many specialties. Contractors across the New York region are reaching into new markets to find business, but they’re taking many different paths. Related Links: Fit for Survival Crystal Ball Blues For Structure Tone, a decision to pursue work in the health care sector started several years ago, says Robert Mullen, the CEO. To establish a foothold, the $2 billion construction manager started modestly. “We were able to get some small projects with major health care institutions just
Construction industry faithful who thought 2009 was painful should stop thumbing through this year's calendar. Most observers say the region's market is going to get worse. At least in 2009, many contractors had backlogs to finish, even if they were lighter than normal, says Mike Kolakowski, CEO of KBE Building of Farmington, Conn. “I think 2010 will be a challenging year for a lot of companies,” he adds. “I believe that we’ll start to see some positive signs in 2011 but not feel the effects until the middle to end of that year and into 2012.” Related Links: Fit for
As the demand for information technology has exploded, so, too, has the need for data centers housing servers, storage devices and networking gear. And though the financial crisis and ensuing credit crunch severely constrained data center construction with many projects put on hold or canceled, the sector is still seeing plenty of activity and is expected to surge as the recovery gains strength. Photo: Gilbane Building Work underway on an HVAC system for a recently completed data center project. Related Links: Buffalo Roost Despite the slowdown, 2 million-sq.-ft. of data center development is underway in New Jersey, says Michael Pembroke,
The storm clouds over the New York region’s construction industry had formed in late fall 2009 as project backlogs emptied and new jobs were few on the horizon. But that bleak juncture is when some general contractors and construction managers geared up for investments – even some that escaped them during the dizzying market boom of recent years. Related Links: Contractors Stretch for New Markets Crystal Ball Blues Top Contractors For Structure Tone, a decision to diversify its expertise was part of a long-term strategy – one the market bust didn’t deter, says Robert Mullen, CEO of the New York-based
Since their inception in 1996, the New York Red Bulls soccer club has been a team without a real home. The Major League Soccer franchise has been forced to play at Giants Stadium, a sprawling, cavernous facility built for American football that never gave off that “home field” advantage you look for in a permanent home. Photo: New York Red Bulls After nearly 15 years playing on turf at the Meadowlands in East Rutherford, the New York Red Bulls’ new $200 million facility in nearby Harrison will allow them to play on natural turf - Kentucky Blue Grass. Photo: New
The construction market in North Jersey is not unlike most in the Tri-State region. Private jobs are hard to come by – and even harder to find – and most firms, large and small, find themselves pitted against steep competition for every small health care, education and transportation project that goes out to bid. Photo: Turner Construction Co. Turner Construction Co. is building the $447 million University Medical Center of Princeton at Plainsboro. Photo: Turner Construction Co. Turner will finish the 630,000-sq-f, 237-room Princeton medical facility in 2011 Related Links: New Home “There’s a fairly significant amount of work on