McDermott exits Chapter 11 bankruptcy
Construction Dive
JULY 1, 2020
billion of debt and provides the energy contractor's management with 7.5% The reorganization eliminates $4.6 of newly issued equity.
McDermott requests $105M of executive, staff bonuses
Construction Dive
FEBRUARY 14, 2020
The energy contractor, which filed Chapter 11 in January, has asked a bankruptcy judge for $26.8 million in total incentives for 13 management team members with the rest intended for 1,112 other key employees.
Bankruptcy 
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Indiana Toll Road Operators Consider Bankruptcy
Construction Equipment
SEPTEMBER 17, 2014
Indiana Toll Road operators are considering filing for Chapter 11 bankruptcy to get out of their $6 million debt, nwitimes.com reported. The Indiana Toll Road operators would also sell their rights to operate the road, requiring the 157-mile road come under new management.
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FIU bridge collapse contractor files for bankruptcy
Construction Dive
MARCH 5, 2019
Magnum Construction Management said that the Chapter 11 filing is not an attempt to shirk responsibilities related to the deadly March 2018 incident.
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Outspoken Individual Surety Files for Bankruptcy Protection
ENR Construction
AUGUST 5, 2014
Scarborough''s bankruptcy filing provides a snapshot of his financial dealings, amounts owed to creditors and his personal property. Business Management'
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Architecture for Humanity closes office, files for bankruptcy
BD+C
JANUARY 19, 2015
After more than 15 years of work, the nonprofit design group Architecture for Humanity has closed its San Francisco office and plans to file for Chapter 7 bankruptcy protection, The New York Times reported. Architects Building Owner Contractors Designers Engineers Facility Managers Building Team' As of Jan.
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$170 million down the drain: Lessons to learn from Quirky’s bankruptcy
Construction Marketing Ideas
OCTOBER 2, 2015
The quirky.com website (scrolling down from the bankruptcy notice at its top.) This business managed to blow $170 million in venture capital in less than seven years. The invention tech started in 2009 and managed to raise about $170 million in venture capital. The bankruptcy notice. Alas the idea didn’t work.
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Avoid the Legal Woes of Multifamily Construction with Notice and Arbitration Provisions
Construction Business Owner
MAY 28, 2014
Imagine that you and your firm’s senior management have all but forgotten the series of nightmares involved in building the hypothetical Riverrun, the first high-rise condominium built downtown.
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Architecture for Humanity closes office, plans to file for bankruptcy
BD+C
JANUARY 19, 2015
After more than 15 years of work, the nonprofit design group Architecture for Humanity has closed its San Francisco office and plans to file for Chapter 7 bankruptcy protection, The New York Times reported. Architects Building Owner Contractors Designers Engineers Facility Managers Building Team' As of Jan.
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How Liberty Mutual Prepared for Ballenger's Bankruptcy
ENR Construction
DECEMBER 18, 2012
Although one of 2012's biggest contractor defaults and bankruptcies may have surprised some unsecured creditors, Ballenger Construction's surety has been working on the company's problems since the summer.
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California’s RCR Plumbing & Mechanical to be liquidated pursuant to a U.S. Bankruptcy Court order
Contractor Magazine
OCTOBER 23, 2012
is auctioning a wide range of assets on October 30 from plumbing and pipeline contractor RCR Plumbing & Mechanical, which filed for Chapter 11 bankruptcy protection last year. Tiger Group’s Remarketing Services division, in cooperation with Hackman Capital’s Equipment Acquisition Co., read more.
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Bahamian Government Blocks Resort Developer's U.S. Bankruptcy
ENR Construction
JULY 29, 2015
The Bahamian is seeking to take control over the resort developer's bankruptcy proceedings.
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SoftBank-Backed Construction Technology Startup Katerra Set to Close
Pro Builder
JUNE 3, 2021
It laid off hundreds of employees last year and neared bankruptcy. Last year, the company was reportedly exploring the possibility of Chapter 11 bankruptcy proceedings, until it was bailed out by a $200 million cash infusion from SoftBank. Business Management. SoftBank also did not return a request for comment. Read More. .
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Recession recovery spotty among American cities: WalletHub report
BD+C
AUGUST 1, 2014
Since 2008, 13 municipalities have filed for bankruptcy. Architects Building Owner Contractors Designers Engineers Facility Managers'
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Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition
Autodesk Construction Cloud
FEBRUARY 1, 2024
Late payments and non-payments are, unfortunately, pivotal contributors to declining contractor productivity eventually, in some cases, leading to bankruptcy for many GCs and subcontractors. When we join forces with Payapps, we will aim to transform how construction payments are managed. Industry research supports these sentiments.
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87 Truland Group Units File For Bankruptcy Protection
ENR Construction
JULY 25, 2014
Business Management' The country''s 10th largest electrical contractor shuts down, files for protection from creditors and strands projects and workers.
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IAPMO looks at the government’s first week of December
Contractor Magazine
DECEMBER 8, 2014
In the first week of December, the House passed legislation reforming the bankruptcy code for financial institutions (see below), authorizing defense programs for fiscal year 2015, and extending over 50 tax provisions for this year. Contractor Marketplace Management'
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How High Profit Jobs Send Contractors Into Bankruptcy
Contractor Bookkeeping
NOVEMBER 3, 2012
Construction company owners who understand Construction Psychology and the need for Business Process Management (BPM) System also know the importance of being process dependent, not people dependent. The same goes with managing sub-contractors and suppliers. One will bankrupt you and the other will make you wealthy. The Solution.
Don Ahern Does It His Way
ENR Construction
OCTOBER 29, 2014
Back from bankruptcy, Ahern Rentals today consists of 82 branches in 25 states, with a 38,700-piece equipment fleet concentrated in high-reach units. Business Management'
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41 Swanke Hayden Connell Files for Bankruptcy Protection
ENR Construction
JANUARY 13, 2015
Business Management' A high-profile design practice with a glittering portfolio of projects, had dwindled to a small operation.
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28 Contractor Seeks Bankruptcy After Union Pension Fund Judgment
ENR Construction
JANUARY 14, 2015
Business Management' A Tennessee masonry contractor''s filing is connected to the company''s withdrawal from a plan agreement with a bricklayers'' local.
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Contractor Cites Pension Fund Claim as Reason for Bankruptcy
ENR Construction
JANUARY 20, 2015
Business Management' Tennessee masonry contractor Wasco takes an unusual step in seeking protection during a messy disagreement over millions a union pension fund says the company owes.
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28 Contractor, Bahamian Government Fight Resort Developer Bankruptcy
ENR Construction
JULY 21, 2015
The latest courtroom maneuvers are occurring even as the contractor and developer participate in negotiations aimed at restarting construction of the $3.5-billion billion Baha Mar project.
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5 Success Factors for Construction Firms
Construction Marketing
APRIL 25, 2016
Visibility gives managers and executives a complete view into the daily processes and activities within their business. Manage Complexity. Managing multiple tasks and responsibilities is not easy. Benefits: Effectively manage active projects. Data documented should accomplish two things: Manage projects.
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Bankruptcy Brings Nearly Completed Resort Project to a Halt
ENR Construction
JULY 8, 2015
With the project at 97% completion, the Bahamas-based developer seeks protection from creditors and puts the blame on the contractor, China Construction America.
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Hang In There Revel Casino, Your Luck May Turn
Constructonomics
JULY 27, 2014
Basically, Revel Casino has 16 with the dealer showing a face card and after their second bankruptcy in less than 18 months, they need to take a hit. I moved to the east coast from the thin air and low humidity of Colorado to work in project management for a subcontractor on the Revel Casino. But then again, they also have a $2.4
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An accident or disability can change your life in an instant
Contractor Magazine
NOVEMBER 2, 2015
What will keep you from bankruptcy? BY ED O'CONNELL. How's your family going to survive? Who's going to put food on the table? Who will pay them bills? This is my "Welcome Back" article. I've been away from posting my thoughts about helping the smaller business dude or dudette because of personal reasons. No need to hide it.
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What Your Business Credit Report Tells Lenders
Pro Builder
OCTOBER 12, 2022
It helps lenders assess whether you’re qualified for the loan amount you’re requesting and if you’ve been good at managing your company’s finances. 15 Management Systems to Help You Avoid the High-Speed Wobbles. Business Management. What Is a Business Credit Score? Lessons Learned From Previous Housing Market Disruptions.
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52 The Road to Recovery in Detroit
Buisness Facilities Contributed Content
JULY 17, 2013
The finances of a city once the center of the automotive universe are in the hands of an unelected manager appointed by Michigan’s governor. The manager will determine what he can salvage from a legacy of decline that has left Motown on the cusp of bankruptcy. automaker from going the way of the dinosaurs.
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Latest Trend, Bookkeeper Works For Contractor That Goes Bankrupt
Contractor Bookkeeping
OCTOBER 18, 2013
No construction company goes bankrupt that had useful accurate Financial Statements and Job Costing Reports that they understood and paid attention to because they would have seen bankruptcy coming well enough ahead of time to avoid it. And Job Costing Bankruptcy Is A Matter Of Time! Is Committed And The Hen Is Only Involved!
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How to Stop Further Deterioration of Distressed Commercial Assets
HardHatChat
OCTOBER 15, 2009
According to the fall 2009 issue of Development magazine, while hotels and retail properties are the most problematic in terms of default, foreclosure or bankruptcy, office distress is up 118 percent year-to-date in 2009 versus 2008.
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How to Protect Your Business When Employees Get Poached
Pro Builder
MAY 27, 2022
This area of law is growing quickly,” says Ben Mathis, an Atlanta attorney and managing partner of the nationwide law firm of Freeman Mathis & Gary. A decline in business from certain clients, or their bankruptcy. Business Management. Business Management. There are two competing interests at stake. Human Resources.
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98 US Slavery Museum: A Primer on How Not to Develop a Project
Construction Knowledge
OCTOBER 3, 2012
The Museum filed for bankruptcy, then rescinded their request. But that faith needs to be backed up with intense budgeting, scheduling, and management. So what’s happening now? The city filed a lien against the land for $300,000 of unpaid back taxes. Pei filed a lien on the land for the full fee amount.
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40 Turbocharging Motown’s Recovery
Buisness Facilities Contributed Content
MAY 21, 2014
A few hours after the pixels for that post were hatched, Detroit announced it had become the largest city in history to file for bankruptcy protection. This summer, a federal judge will decide whether to approve a plan that would allow the city to exit bankruptcy court by mid-October.
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Covid-19 and travel: Heathrow boss says social distancing ?impossible? in airports
Construction Test
MAY 19, 2020
Many carriers face bankruptcy or nationalisation if the industry can’t get back to normal before a vaccine arrives, Holland-Kaye said, adding that the airport’s shareholders are burning through 200 million pounds a month ($250 million) at present. ” Heathrow Airport. Photo: iStock.
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Job Costing Accounting Vs. Regular Accounting
Contractor Bookkeeping
JUNE 11, 2013
If the contractor believes the company is undercharging they may raise bid prices, lose jobs, eventually run out of cash and file bankruptcy. If the contractor believes the company is overcharging they may lower bid prices, lose money on all jobs, eventually run out of cash and file bankruptcy.
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48 Should you be a lemming (or not)?
Construction Marketing Ideas
JULY 2, 2015
In an Internet world of zero-marginal cost and a lemming-like belief that more metrics are better, there is no shortage of people willing to bankrupt you by leading the way to bankruptcy. Don’t go there unless you have deeper pockets than anyone else. Competing on differentiation is inherently more attractive.
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International Arbitration Experts Discuss The Impact On The Global Economy
Constructlaw
DECEMBER 7, 2020
Charlie Lightfoot, Co-chair of International Arbitration Practices and Managing Partner, Jenner & Block, London. The economic hardships that have resulted have exposed many businesses to financial strain and led to an increased number of high-profile insolvencies and bankruptcies. Gene Burd, Partner, FisherBroyles, Washington.
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Unique Construction Company Financing Secrets Revealed
Contractor Bookkeeping
AUGUST 6, 2014
According to the FBI [link] in 1931, the IRS took down the alleged gangster Al Capone by “Reverse Engineering” his financials using some of the tools provided by The Risk Management Association. The Risk Management Association (RMA). Finally a Z-Score is compiled which is a formula for predicting bankruptcy. Need Help Now?
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3 Avoidable Headaches for Construction Project Managers [Webinar]
Autodesk Construction Cloud
OCTOBER 28, 2021
Your construction project management skills are constantly put to the test. making sure everyone is on the same page—literally and figuratively—can be the difference between a payday and bankruptcy for a GC. . The post 3 Avoidable Headaches for Construction Project Managers [Webinar] appeared first on Digital Builder.
SNAPSHOTS: 60 Seconds…with Stephen Moret, Secretary, Louisiana Economic Development
Buisness Facilities Contributed Content
OCTOBER 22, 2013
Additionally, we’ve dramatically enhanced LED’s business development approach, utilizing a highly customized project management process that delivers comprehensive, creative, fast and professional solutions for leading companies working to establish major new business operations. city in history to file for bankruptcy.
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49 Serious And Funny Construction Definitions Contractors Enjoy Reading
Contractor Bookkeeping
JULY 27, 2012
Bad Numbers - Lead to bad decisions / cash shrinks / business unstable / bankruptcy or failure. Bankruptcy - Result of saving money on bookkeeping and making decisions on garbage reports. BPM – Business Process Management for construction company owners to grow passive income streams.
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How To Reduce Risk On Construction Projects
ProcurementExpress.com
NOVEMBER 30, 2016
What can I do besides bankruptcy? A project manager that is inexperienced or who does not have the owner’s best interest in mind can also present problems to a project. Following are tips for every construction executive to help manage risks. A real life example: I am a contractor and I have underbid a house by $14000.
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52 Stop Bookkeeper Embezzlement In Your Construction Company
Contractor Bookkeeping
OCTOBER 3, 2014
Being Ripped-Off And Driven Into Bankruptcy! I say that with all due respect to egg heads since I am an egg-head with several degrees and certifications in Accounting, Construction Accounting and Project Management. Business Process Management (BPM) For Contractors. An Alarming Number Of Construction Company Owners Are.
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