All it takes is one: one off-color joke sent from a company e-mail account or one hotheaded e-mail transmitted without a thought about how it could later be used to devastate the company’s side of a legal case, even if the e-mail or its author is entirely unrelated to the subject of the litigation. In the ever-expanding world of electronic documents and communication, businesses need to take proactive steps to prevent the creation of damaging documents, and they have to be prepared in the event litigation does arise by implementing an e-data management system before litigation. Advanced information technology has
SANT Every year brings a sad anniversary to my family. Early one March morning in 1986, I received a call from my weeping mother saying that Sandra, my younger sister, had just been involved in a serious auto accident. We didn’t know if she would live through the night. I took the next flight to Boston and rushed to the hospital. I did not make it in time. My last goodbye was to my beautiful young sister’s cold and broken body. And 40,000 times each year, families make such heartbreaking farewells to other crash victims. The drunk driver who killed
ALLEN When Transportation Management Services, Sandy Spring, Md., was looking to do business in South Africa, company officials contacted the U.S. Embassy’s Commercial Service office in Johannesburg. We introduced the company to key South African transportation officials, who, in January 2007, were traveling tothe U.S. We then provided the company with customized support from overseas commercial officers and specialists. In the end, TMS signed a memorandum to provide $156,000 worth of services to a provincial government and then later agreed to $15 million in World Cup contracts. Sixteen years after holding its first general elections with universal adult suffrage, South
SCHLEIFER While the economy may be improving, I believe the recovery is fragile. Any trouble in the financial markets could be serious enough to force the whole process to begin again. Whatever happens, contractors should realize that while they can’t control the market, they can control their response, including making layoffs when needed. Prospering in cyclical markets and surviving a downturn in the construction industry starts with recognizing what will happen when the markets soften and backlog falls off. The same thing has happened without fail in every industry down cycle for the last 50 years. The potential for profit,
When the staff at my firm talks with prospective clients, two things we focus on are what you get for your insurance premium and what you get for the commission you pay your insurance agent or broker. The construction industry hasn’t evolved very much in the 30-plus years I’ve been practicing. It’s still an industry in which a company pays a premium to an insurer, and then an insurer pays a commission to the agent or broker who placed that business. It’s rare that a contractor looks at those numbers and says, “What am I getting for that money?” PHELAN
There was a time not long ago when the prevailing wisdom said going through Hong Kong was the best way to enter the Chinese market. Hong Kong, although geographically a part of China, is a modern, developed international city-state, a Special Administrative Region of China whose business people speak English, understand Western laws, processes and customs, and can act as an interpreter for any Western organization that wants to work in mainland China. Photo: Claudiozacc-Fotolia.com DOHERTY In addition, currency transfer from China’s renminbi (formally called yuan) into Hong Kong dollars is easier than any other foreign-currency exchange. The obvious decision
Fundamental shifts in airline services have pressured airports to adopt new strategies in order to survive and thrive. Already we are seeing the first signs of a new kind of airport that will replace the dated facilities operating in most cities. For decades, airline operations were a model of stability. What caused the industry to turn topsy-turvy? One major force was the appearance of a new breed of low-cost carriers, such as Southwest Airlines. Their innovative way of doing business, coupled with the advent of smaller-capacity regional jets, made airports hustle to accommodate the increased volume of passengers and rapid
If I objectively analyze the foundation of my construction career, I find that my CEO title probably can be credited to several guys in jeans and dirty boots. It was not a professor but a contractor-entrepreneur who most encouraged and inspired me by serving as my first mentor and guide. He was spare with praise but long on wisdom; he found ways to put me in the front row for life lessons. Jobsites, negotiations and even a beer at the bar all became mentor’s tools to connect me, an ambitious and raw rookie, with my potential. Simply put, he saw
For China watchers, it comes as no surprise that China is rapidly undergoing an industrial revolution. What Europe and the U.S. did in 75 to 100 years, China has done in about 25 years. Despite the global economic downturn, the economy is still booming. However, with the slowing of exports, the Chinese economy now is being driven mainly by domestic and foreign direct investment. HOENIG Companies wanting to participate in the massive growth soon realize China is a complex and often contradictory business environment for both foreign and domestic players. When they arrive and set up operations, foreign companies, in
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