Last Chance to make a Nomination is Today!
Here is YourSUBBY Nomination Form.Click here and take a few minutes to nominate in a number of categories, including: GC doing under $500 million for base building, GC doing over $500 million for base building. There are additional categories for Interior, Change Orders and Scheduling. Click on at least one and make a nomination. It takes some effort but it means a lot to those who are nominated and to your industry. For 61 years, this has been the opportunity to recognize the GCs, Owners and other industry stakeholders for outstanding performance in creating a fairer and more efficient industry in the DMV. Make sure your company is part of the nomination process.
LD Headaches
Are you charged Liquidated Damages even though you have not been paid? Here is a situation we are hearing about: Your supplier requires a deposit. You don’t have the money to pay it because the GC and Owner are late paying you. Then you get charged Liquidated Damages because the job is held up. What do you do?
Change Orders
In this article in SMACNANews, a sheet metal contractor notes that “only about 30% to 50% of project staff effectively recover the costs associated with change orders. The key reason … underestimating of labor impacts. The article reports from New Horizons that up to 7% of labor is lost in the process of adapting to new changes with another 9% lost due to disruptions. The key according to this article is measured mile analysis, maintaining accurate documentation and fostering strong client relationships.
1 K St. SW
This Construction Dive report on the construction economy lists 1 K St. SW as one of the largest commercial construction starts in the nation at $190 million. It is unclear at this time who the GC will be. Also, Construction Broadstreet reports on Clark’s $727.5 million job at Fort Meade.
Fastest Paying GC’s
Theyare listed in a report from Siteline. The fastest paying in our area are CBG (43 days), Gilbane (58 days), Consigli (58 days), and Clark (63 days). We know from our members that there are a number of GCs not listed who pay much more quickly than this and that the Owner makes all the difference in timely payment. We will be glad to report on GCs who pay promptly in the next newsletter. Just reply here with those who pay promptly.
Overtime?
As you plan your bids, you need to be sure you are following the latest requirements on paying salaried workers for overtime. A federal judge blocked the rule that would have increased the qualifying annual salary to $43,888. It will now revert back to the previous level of $35,568. Click here for a Reuters article that explains it in more detail.
Also, I have received numerous reports that the requirement to report Beneficial Owner Information as part of the Corporate Transparency Act has been halted. It was due on Jan. 1, 2025.
Workplace Raids
This Construction Dive article warns that there could be an up-tick in workplace raids by ICE agents. In some cases, you will be notified, but in others the agents will show up, unannounced, with a warrant. In either case, you should take steps now to plan for the eventuality of a visit from ICE and this article gives some steps to take.
PM Workshop
There are a few spots left in the 2025 Project Managers’ Workshop, which starts in January. Consider the PMs, APMs, Estimators and others in your company who could benefit from some of the best instructors covering the issues PMs face every day. Classes start at noon on Jan. 9th and run every two weeks for six weeks. This event will sell out, so if you are interested, register today. Click here for the curriculum and to register.
MEMBERS UPDATE
Welcome New Member AMS Contractors, Inc., mechanical contractors in Lorton. Robert Dillingham and his team will be a welcome addition to our family.
We welcome back Bridget McCarthy and her team at BMAC Consulting Group.
UPCOMING EVENTS
January 9, 2025 - PM Workshop Series (Six Sessions)
January 14, 2025 - Subcontractors/Suppliers Information Exchange (Members Only!)
January 30, 2025 - Formula1 Arcade Event
February 12, 2025 - SAVE THE DATE - Wohlsen Meet and Greet
February 22, 2025 – Annual Subby Awards Gala
April 22, 2025 - SAVE THE DATE - Crew Communications Event
