When the COVID-19 pandemic first hit in early 2020, many fleet managers took a wait-and-see approach, hoping that the year’s construction season would not be lost entirely.

A record 62 cargo ships wait to dock at the ports of Los Angeles and Long Beach as of Sept. 27, stuck floating off the California coast amid a supply chain crunch impacting contractor bottom lines for more than a year.

Labor rates remain relatively steady despite pandemic upheavals, but analysts noted some short-term adjustments to compensation by construction employers in 2020 with ongoing labor shortages continuing to pressure wages.

Worries over price inflation and persistent labor shortages have cooled optimism among construction execs, but overall confidence in the market remains strong.

The merger follows a trend of reorganizing smaller districts into larger regional councils.

Acquisition of construction payments and lien rights management technology provider is its largest ever and comes months after its $635-million IPO.

Residents of the 1,396-ft-tall 432 Park Avenue in Manhattan seek $250 million in compensation for alleged building flaws.

George Hershman, to be CEO of new construction business, also is a board member of solar sector trade group opposing possible U.S. tariffs on Chinese firm-made components imported from three Asian countries.

U.S. Labor Secretary Marty Walsh joined local union leaders to announce the new effort that also links existing local union programs.