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Category: Financial


Construction Processes, Financial

Slow payments cost GCs and subs $64 billion annually

October 17, 2019

Via: BDCNetwork

Delayed payments are costing both general contractors and subcontractors tens of billions annually, according to a new study. The study was conducted by construction finance platform Rabbet, formerly Contract Simply, in partnership with Procore Technologies. A similar study by Rabbet […]


Construction Processes, Financial

Oklahoma approves $8B of infrastructure work

October 16, 2019

Via: Construction Dive

The money for Oklahoma’s program will come from the Federal Highway Trust Fund, state income taxes and fuel tax revenues. The Eight-Year Construction Work Plan is updated annually, and this year’s rendition represents a spending increase of approximately $400,000 from […]


Construction Processes, Financial, Interaction of Expertise

Pindan awarded $90mn Rio Tinto camp construction contract

October 14, 2019

Via: Construction Global

The $2.6bn Koodaideri project, in Western Australia’s Pilbara, will be Rio Tinto’s most technologically advanced mine and will have a capacity of 43 million tonnes of iron ore a year, which is expected to commence in late 2021. The contract […]


Construction Processes, Financial, Interaction of Expertise

Global construction output growth will decline to 2.7% in 2019

October 4, 2019

Via: BDCNetwork

The deterioration in construction output growth across emerging markets has been worse than previously expected, particularly in the US and the Middle East. Therefore, the forecast for global construction output growth in 2019 has been revised down to 2.7%, which […]


Construction Processes, Financial, Interaction of Expertise

Market watch: Track construction’s economic health

October 3, 2019

Via: Construction Dive

Industry experts, economists and construction executives rely on a long list of economic indicators to help them forecast the future of the business. But predicting what’s on the horizon is tricky, said Associated Builders and Contractors chief economist Anirban Basu, […]


Construction Processes, Financial, Interaction of Expertise

Tutor Perini lands $31M in change orders for San Francisco subway project

September 26, 2019

Via: Construction Dive

Also included in the filing was a statement that the $24 million in change orders the company expects to collect as resolution to five other matters does not have anything to do with the Central Subway project. On Sept. 10, […]


Construction Processes, Financial, Legal

The Dotted Line: How contractors ensure the project owner can pay

September 24, 2019

Via: Construction Dive

Contractors know that prompt payment of their pay applications is critical to a construction project’s success. Timely and accurate payments allow them to pay their employees, lower-tier contractors, material suppliers and other vendors as agreed, which not only helps make […]


Construction Processes, Financial, Interaction of Expertise

Chicago Transit Authority Launches Red/Purple Line Modernization

September 23, 2019

Via: ENR

Most of the Chicago Transit Authority’s Red/Purple Line is more than 100 years old. On the city’s north side between the Lawrence and Bryn Mawr stations, the wooden tracks are supported by structural steel supports that are held together by […]


Construction Processes, Financial, Interaction of Expertise

DoD diverts $3.6B in military funds to border wall construction

September 6, 2019

Via: Construction Dive

Hoffman said that even though some projects are considered replacements, all wall construction funded through the military will add to the Department of Homeland Security’s ability to prevent illegal entry into the U.S. He added that the money will only […]


Construction Processes, Financial, Legal, Sustainability

Insurance Company Stresses Resilience With Competition

September 3, 2019

Via: ENR

The insurance industry is getting into the resilience business. QBE Insurance and Ashoka – which promotes social entrepreneurship— are in the middle of what may be the first-ever resilience-focused entrepreneurial challenge for the urban environment. “The fact is the climate […]