Profit Matters: Page 56

Business
Court Rules Conditions Attached to Payment of Retainage Violate Prompt Pay Act
The Supreme Court of Vermont recently held that the conditions attached to a contractor’s payment of retainage to a subcontractor violated the state’s Prompt Pay Act.
If you insist on adding conditions to final payment, you may have a violation of your state’s prompt pay act on your hands.
Machine Grade Control, GPS, Laser & Other
The Contractor's Best Friend Podcast: Technology Advancements to Prepare for Part 2
Brad Humphrey and the Caterpillar subject experts are back with part two of the Technology Advancements to Prepare for podcast.
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Business
Nonresidential Construction Spending Falls in October
Associated Builders and Contractors Inc. (ABC)
Economic indicators are providing mixed signals about the U.S. construction industry’s trajectory; spending is down but backlog remains high
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Technology & Services
SmartRock Concrete Sensors Prove Concrete Strength in Cold Weather
Giatec Scientific Inc.
Concrete maturity testing software helps Bottorff Construction stay off the deficiency list on a multifamily project where third-party inspections didn’t collect the full data.
Bottorff Construction Inc. used Giatec SmartRock sensors in concrete placed under the same conditions as previous concrete that was ruled deficient. The sensors showed that the concrete was not deficient and that the sensors produce more accurate data than what was used by the agency.
Financing, Insurance & Leasing
5 Things Contractors Should Not Do Before a Recession
Contractors should start preparing at least a year in advance to keep the impact of a recession on their businesses to a minimum
A recession doesn't have to spell the end of your business, if you take steps now to better ensure success during a recession.
Construction News Tracker
[NEWS TRACKER] 2020 Construction Starts Will Drop But Activity Level to Remain High
A 4% drop in construction starts is predicted for next year, but 2020 will not be a repeat of 2009 because the level of activity will remain high; plus other construction industry news on the Nov. 21, 2019, Construction News Tracker
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Profit Matters
The Contractor's Best Friend Podcast Season 3 Episode 7 - Technology Advancements to Prepare For
Brad Humphrey and Caterpillar’s subject matter experts discuss where the industry is headed in terms of technology advancements.
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Business
CCI shows promise for construction industry
The United States Gypsum Corporation (USG) released its Q3 Commercial Construction Index report showing promising numbers for the future of the construction industry despite outstanding concerns.
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Estimating & Bidding
Takeoff and Bid Software Efficiency Drives Nearly 25 Years of Use for Contractor
On Center’s Quick Bid and OST software simplifies and syncs bidding and OST operations for PML Construction
On Center’s On-Screen Takeoff (OST) and Quick Bid software efficiently creates more accurate bids and take-offs that are synced with one another.
Equipment Management
How Fleet Managers Can Curb Costs and Boost Productivity
Effective use of data and smart strategic planning can help managers make smart decisions about when to rent and when to own, maximizing fleet budgets.
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Financing, Insurance & Leasing
Construction Input Prices Remain Unchanged in October
Associated Builders and Contractors Inc. (ABC)
“Contractors can expect more seesawing in materials prices going forward as opposed to smooth declines,” according to Associated Builders and Contractors.
'Many categories experienced effectively no change in price whatsoever on a monthly basis, including key materials such as softwood lumber, concrete, plumbing fixtures and the segment that includes prepared asphalt,' said Anirban Basu.
Concrete Materials
Moody's: Repair Materials, Cement Industries to Hold Up Best if Recession Hits in 2020
Moody's assessed which homebuilding and building material industry subsectors would best handle a substantial economic slowdown or a recession.
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