This week’s Construction Financial Manager Review touches on a variety of subjects including the economy, construction technology, and operations. We try to provide you with major headlines and interesting insights to keep you on the cusp of industry news.
We hope you enjoy this week’s review and would love to get your feedback.
Happy weekend,
Scott Wolfe
zlien CEO
What We’re Reading
Key Articles from Across the Web This Week
How construction technology saves time, money, and jobs
Until recently, the aversion to new technologies might have been holding the industry back, but not anymore. Contractors are seeing the immediate savings they can gain by upgrading. Read the full article on The Jobsite.
Fed holds interest rates steady and plans slower increases
The Fed said on Wednesday, after a two-day meeting of its policy-making committee, that it would not raise its benchmark interest rate, and that future increases were most likely to unfold at a slower pace. Read the full article on The New York Times.
The intersection of arbitration clauses and mechanics liens
Before you sign one of these seemingly “routine” pieces of paper, please take into consideration that no two of these are alike. Make sure you’re not signing away more than you mean to. Read the full article on Construction Executive Risk Management.
Twin sustainable skyscrapers under construction in China
Initial construction work is underway on a pair of sustainable mixed-use towers in Hangzhou, China. Rising to a height of 280 m (980 ft), the design of the Zhejiang Gate Towers project reflects Chinese characters, and the towers’ facades will sport aluminum shading fins that shimmer in the sunlight. Read the full article on Gizmag.
OSHA amplifies efforts to limit construction workers’ noise exposures
The U.S. Occupational Safety and Health Administration has started the process for a potential — and some argue long overdue — Noise in Construction standard. Read the full article on Time.
Why and how to implement standard operating procedures
On Friday, the Property Council’s 2016 Innovation and Excellence Awards honored sensational developments across the country. From shopping malls to hotels, the best of Australian architecture was on display. Read the full article on ForConstructionPros.com.
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What We’re Writing About
Recent Articles by zlien Relevant to Construction Finance
A tale of two policies: CGL Policy
A contractor’s relationship with its insurance company can be precarious, and when it comes time to file a claim, you don’t want any surprises. Incomplete coverage can be costly, a lesson recently learned by general contractor Elite Homes. In a case decided just three months prior, Pavarini Construction Company faced a similar situation with a dramatically different outcome. Read the full article.
Why credit managers should send preliminary notice on every project
The preliminary notice is one of the most potent weapons in a credit manager’s arsenal. It’s fairly common for credit managers to send these documents on projects in states like Texas, Florida, or California, in which sending preliminary notice is required to secure lien rights. Read the full article.
The basics of recovery on federal projects: The Miller Act
The Miller Act was passed to provide an opportunity for subcontractors and suppliers to recover for unpaid labor and material on federal projects, since mechanics liens cannot be filed against public property. Read the full article.
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