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Showing 321–336 of 398 results
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Construction Success Story – Contractor heeds warning signs of questionable owner
September / October 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: In this issue’s “Construction Success Story,” a general contractor was torn. He knew he could put together a stellar bid for a new condominium project, but the owner involved was highly dubious. This local property developer had been involved in some unflattering legal proceedings of late and its financial standing was uncertain to say the least. The contractor’s financial advisor, however, gave the contractor sound tips on how he could proceed while protecting his interests.
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Price adjustment clauses can help curtail unforeseen costs
September / October 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 449
Abstract: Construction materials prices are erratic and largely unpredictable, but price adjustment clauses in a contract are one way to prevent, or at least mitigate, such sticky situations. These clauses identify specific materials at risk for price increases and set an effective date from which to measure price changes that trigger an adjustment to the contract amount for materials. This article explains how they can help both contractors and owners save time, money and risk.
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Technology upgrades – Could automated purchase orders speed your processes?
September / October 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 647
Abstract: Constant materials purchases on construction projects can not only cause a lot of confusion, but also cost valuable hours tracking down invoices, double-checking figures, and making phone calls to managers and subcontractors. But automated purchase order software can speed buying processes and take much of the guesswork out of who’s buying what, when. This article examines how purchase order applications can use purchase orders to set up work orders, create schedules, and update and e-mail or fax weekly schedules, and use the original work orders to create invoices and send payment to subcontractors and suppliers.
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Cash: A contractor’s best friend – Cash flow forecasting can keep the relationship going strong
September / October 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: Many construction business owners may see cash flow forecasting as either a distraction from day-to-day activities or as a daunting, implausible undertaking. But getting a clearer picture of where a company’s dollars are going isn’t as difficult as one might think. This article shows how to estimate earnings with front-loaded billing schedules, and then, with data from estimated billing schedules and projected general operating expenses, to forecast cash flow in the near future. A sidebar lists five cash flow killers that can be prevented.
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Construction Success Story – Beware the downside to downsizing
July / August 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 453
Abstract: In this issue’s “Construction Success Story,” we look at a struggling general contractor who asked his financial advisor about the potential downside to layoffs. She pointed out reasons that layoffs might hurt him in the long term, and discussed ways the contractor could retain his best employees.
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How do you look to your surety? – A key question in today’s economy
July / August 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 644
Abstract: Recently, bonding firms have been extra cautious because of the difficulties that so many construction companies have had in staying solvent. That’s why, now more than ever, it’s important for contractors to determine just how their business looks to their surety. Working capital and tangible net worth will likely sit near the top of any surety’s list of critical attributes, as will receivables and debt, performance consistency, and work in progress.
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No shortcuts: Quick fixes won’t solve money problems
July / August 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 436
Abstract: In response to dire times, many construction company owners may look for quick fixes to tide them over until the economy recovers or at least until the next big project comes along. Yet this thought process can be extremely dangerous; amending and extending loan terms, for example, can become a vicious cycle in which interest rates increase and debts become insurmountable. Long-term thinking will include asking specific questions about the business to reassess overall strategy and implement system fixes.
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The hard road ahead – Managing the costs and risks of long-term contracts
July / August 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 904
Abstract: Long-term contracts (those exceeding a 12-month period) can be tempting for contractors, as they’re typically associated with lower levels of competition and higher revenue. But because these arrangements transfer the risks from owners to contractors, many sureties hesitate to bond them. Even if bonding is obtainable, escalating costs and unforeseen glitches are a special concern in these types of jobs. But there are steps that contractors can take to become more bondable. A sidebar discusses tax and accounting considerations of long-term projects.
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Construction Success Story – Contractor reaches for his slice of Recovery Act pie
May / June 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 436
Abstract: A soft economy, as well as the prospect of snagging a piece of the American Recovery and Reinvestment Act (ARRA) pie, prompted a small midwestern contractor with little experience in government jobs to consider expanding into the public sector. While the lure of ARRA dollars was strong, he met with his financial advisor to determine whether an investment in government bidding could yield an appropriate return. Together, they developed a targeted approach.
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More and more contractors turn to lead services
May / June 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 444
Abstract: In this tough economy, more and more contractors are turning to lead services to get the jump on competitors. There are three primary choices: a subscription-based service, a pay-per-lead service, or a database service. The first two are more economical. Yet those who are serious about using a lead service, and can afford to do so, might want to take a calculated risk and sign up for a database in order to quickly achieve more precise results. But due diligence is important.
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Don’t wait to get paid – How to build a good collection process from the ground up
May / June 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 693
Abstract: Building a good collection process begins with developing a realistic payment plan and then including it in the job contract. Contractors must employ prompt and frequent follow-up to avoid giving the impression their bills can be given lower priority. This is not just an issue for accounts receivable staff; collections should be a companywide concern. As a last resort, it may be necessary to resort to a collection agency. But this might mean burning a bridge one may need to cross in the future, so the pros and cons of this harsh measure must be weighed carefully.
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Keeping your wheels on the road – Key aspects of fleet management
May / June 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 949
Abstract: There’s no doubt that fleet management requires an investment of time and finances. But the long-term savings, decreased equipment downtime and better efficiency gleaned from the effort can be significant. One must begin by comparing savings and tax considerations in regard to buying equipment vs. renting it. Maintenance and antitheft issues must then be addressed. A contractor might also need to hire a dedicated fleet manager or outsource the duties to a fleet management company. A sidebar to this article shows how to prepare for the next tier of Environmental Protection Agency engine emissions regulations.
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Construction Success Story – Contractor considers supplementary certification
March / April 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 449
Abstract: For the owner of a general contracting business in a mostly urban rehab/high-rise market, times were tough. With the economy in gradual recovery mode, work was slowing down and competition was stiff. So, during a visit to his financial advisor, the owner asked for ideas on gaining an edge. She had one that he found quite surprising: supplementary certification. Contractors who seek certification beyond what’s required for licensure, she explained, are in a better position to compete for business and broaden their horizons in areas they wouldn’t normally explore. She mentioned several well-known organizations where he might go for continuing education and certification courses.
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Mind your metrics – Key financial measures can keep you in the game
March / April 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 663
Abstract: As the local market picks up or slows down, contractors need to know exactly where they stand financially to reasonably decide whether to move boldly forward or pull conservatively back. And when it comes to determining financial standing, the more accurate and precise one is, the better. That’s where certain key financial measures come into play. This article discusses such measures as return on assets and return on equity, along with a number of important ratios.
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Extended NOL carryback period offers contractors tax relief
March / April 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: This tax season, some construction companies may find welcome relief from an uncertain economy and challenging marketplace because of the recently extended net operating loss (NOL) carryback period. This provision is part of the Worker, Homeownership and Business Assistance Act of 2009, a bill passed last November that aims to create jobs and offer respite to struggling businesses and the unemployed. The newly renewed NOL rules allow most businesses to carry back their NOLs for up to five years, instead of the previously sanctioned two.
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Better start, better finish – 5 steps for avoiding project delays before work begins
March / April 2010
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 875
Abstract: Project delays occur for a number of reasons, and can range from small misunderstandings to huge conflicts that may put the financial success of a project on the line. But there are five steps that will help a contractor get to the finish line quicker by getting off to a better start: checking the owner’s financing; having a specific, well-defined contract; collaborating with all parties on a plan of action; creating standardized information management systems and processes; and choosing suppliers wisely. A sidebar to this article lists key questions that a contractor should ask potential vendors when considering a shift to paperless operations.