Photo courtesy of Haselden Construction The Haselden brothers, from left, Byron, Mike and Ed, have put into place a detailed succession plan to carry on the family legacy at Denver's Haselden Construction. Related Links: Recession Shifting Contractor Retirement Plans U.K. Retirement Age Upheld By Courts Surveys show that baby boomers own the majority of construction companies, and more than half of those owners are over the age of 60. As the boomers retire over the next two decades, the industry will see the largest transfer of business assets in its history.Some companies will be sold to a third party on
When the recession hit, CCI Mechanical Inc. of Salt Lake City decided not to change its pricing strategy, enter new markets or chase work outside its core focus. Instead, the mechanical contractor chose to stay the course, honoring its long-standing commitment to customer service. Photo courtesy of CCI Mechanical CCI Mechanical served as the HVAC and plumbing contractor for Salt Lake City's Public Safety Building, the new home for the city's police, firefighters and emergency dispatchers. Photo courtesy of CCI Mechanical CCI Mechanical performed the HVAC and plumbing work for City Creek Center in downtown Salt Lake City, a mixed-used
Related Links: Holding Off Chronic Health Woes Meaningful Health Care Reform Requires Private-Sector Help Faced with rising health insurance premiums, an increasing number of contractors and subcontractors are embracing workplace wellness programs to promote healthier lifestyles and help reduce health-care costs."A lot of contractors are seeing the connection between safety and health on the job and realizing the benefits that wellness programs can have both for job performance and their bottom lines," says Kevin Cannon, director of safety and health services for the Associated General Contractors of America.The rise of wellness programs among construction firms mirrors a national trend. According
Mortenson Construction Co. has consistently leveraged its skills in virtual building, collaboration and prefabrication to build some of the region's largest and most complex projects, usually ones on short schedules and tight budgets. Those skills and a track record of service to long-term clients helped the company thrive during the recent recession. Related Links: Mortenson Tops Out Exempla St. Joseph Hospital Project Mortenson Breaks Ground on UCCS Parking Structure Mortenson's Denver office helped the Minneapolis-based contractor remain financially strong with company-wide revenue ranging from $2.8 billion in 2008 to $2.3 billion in 2012. Last year, the Denver office generated $298
Related Links: Industry CEOs Weigh Business Highs and Lows Ahead Social Media Moving Quickly From Friendship to Business Development The days when the lowest bid wins the job may soon be over. In this post-recession market, a strong focus on relationship building and value is giving some firms the competitive edge they need to remain profitable amid a still diminished pool of projects.More than a quarter of general contractors and subcontractors are more profitable than two years ago in large part because of effective business development strategies, according to a 2012 business development survey conducted by the Associated General Contractors
Despite the still sluggish economy, Broomfield, Colo.-based MWH Global is coming off its best year ever, with $1.6 billion in worldwide revenue for 2012. The wet-infrastructure and water-engineering company is not only ranked No. 5 among the largest design firms in both the Colorado and Intermountain areas but also consistently earns top honors in international markets as well. Related Links: A Conversation With MWH Global CEO Alan Krause MWH Opens Office in Ethiopia The key to the company's growth can be best summed up with one phrase: "Thinking globally, acting locally." MWH provides design, consulting and construction management services to
Related Links: Disputed Shift by Insurance Brokers Entangles Contractor Clients Watch Out for Workers' Comp Costs Effective this March, the Insurance Services Office (ISO) revised its forms and endorsements for commercial general liability. This latest round of CGL changes is the largest the industry has seen in years. Major and minor modifications, along with new endorsements, could significantly affect, and in some cases narrow, the scope of CGL coverage moving forward. While insurers are obligated to notify insureds about changes that affect policy coverage, as always, the burden of due diligence ultimately falls on contractors to understand their coverage and
Related Links: Humanitarian Engineering Green Schoolhouses to Be Built With Donated Materials In this era of post-recession cost cutting, many construction companies remain committed to their communities. Instead of pulling back on their charitable funding, firms have amped up community-service programs and refocused their giving strategies to maximize dollars.The construction industry appears to be in sync with general trends in corporate giving. A study released in December 2011 by Forbes Insights and Hewlett-Packard found that recent involvement in corporate volunteerism has become more important than before the recession, with the majority of companies looking to make financial donations primarily to
Effective in March, the Insurance Services Office (ISO) revised its forms and endorsements for commercial general liability. This latest round of CGL changes is the largest the industry has seen in years. Major and minor modifications, along with new endorsements, could significantly impact, and in some cases, narrow the scope of CGL coverage moving forward. While insurance companies are obligated to notify insureds about changes that affect policy coverage, as always, the burden of due diligence ultimately falls on contractors to understand their coverage and its possible exposures. “ISO forms are not used by everyone, but a lot of the
In this era of post-recession cost cutting, many construction companies remain committed to the communities where they live and work. Instead of pulling back on their charitable funding, firms have amped up community-service programs and refocused their giving strategies to maximize dollars.