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The Role of the Board of Directors
The Role of The Board of Directors
In Closely Held Construction Companies
Closely held construction enterprises rarely have a board of directors. Most construction company founders consider a board pretentious or a pain in the neck or an unnecessary expense or an unfortunate appendage attached to public companies that they … Read the rest “The Role of the Board of Directors”
The Bidder Who Makes the Most Mistakes
SUBJECT: THE HISTORY OF LOW BID
“The Bidder Who Makes the Most Mistakes…
Gets the Job”
If this weren’t true, it wouldn’t be funny. Irony is humor because the underlying truth shouldn’t be so, but it is. Our industry has been enjoying this old joke ever since the low-bidder became … Read the rest “The Bidder Who Makes the Most Mistakes”
Without Skilled Labor….
ALERT
Without Skilled Labor
YOU’RE OUT OF BUSINESS
The skilled labor shortage plaguing the construction industry has reached crisis proportions. Wall Street Journal – July 2018
A recent Wall Street Journal article by Laura Kusisto reported:
“Construction lost tens of thousands of workers during the economic downturn, and many never … Read the rest “Without Skilled Labor….”
You Can’t be a Surety
Subject: the role of sureties
You Can’t be a Surety
So Learn to Act Like One
Thirty years of accumulated study as a contractor, work-out specialist, consultant, and research professor have verified the following realities about risk in the construction industry:
- Construction is basically risk assumption.
- Risk-taking is embedded in
The Dozer is Not Free
Subject: Purchase price vs real price
This $250,000 Dozer
Is Not FREE
I was looking for holes. As a salvage expert working for sureties who were exposed to enormous losses by sudden contractor failure, I was completing jobs across the country and at the same time studying the financially distressed … Read the rest “The Dozer is Not Free”
How to Go Bankrupt
“How did you go Bankrupt?”
“Two Ways…gradually…then suddenly.”
(The Sun Also Rises, Ernest Hemingway)
Subject: financial planning
Ernest Hemingway, apparently knew more about business failure than some executives, scholars, and politicians gathered around the recent catastrophic collapse of Carillion PLC, the massive $ 7 billion UK contractor. (Reported on this … Read the rest “How to Go Bankrupt”
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