What happens when a business consistently tells Wall Street it is going to construct a specific amount of capital improvements each year but consistently misses?
Duane L. Kenagy, a former senior vice president of design firm Moffat & Nichol, will become interim CEO of the Port of Long Beach, Calif., as of Oct. 31.
Enormous budget problems at the Dept. of Veterans Affairs replacement hospital in Aurora, Colo., are “primarily the result of poor business decisions, inexperience with the type of contract used and mismanagement by VA senior leaders.”
Three executives of contractor LPCiminelli Inc., three New York power and commercial developers and a former SUNY president are among nine charged in a 79-page US criminal complaint alleging bribery, bid-rigging and influence-peddling on state-funded projects.
The problems have been piling up for Section 5 of I-69 in Indiana, a segment that involves 21 miles of upgrades to existing state Highway 37 from Bloomington to Martinsville.
With a federal agreement last month that resolves seven years of illegal campaign contributions in Canada by former executives, Montreal-based design-construction giant SNC-Lavalin Group Inc. moves closer to final resolution of its past regime’s ethics issues that have dogged the firm for nearly five years.