McGraw Hill to Sell off Construction-Data Unit
March 19, 2014 —
Beverley BevenFlorez-CDJ STAFFMcGraw Hill Financial announced “plans to sell a construction-data unit concentrated on the U.S. market” according to The Wall Street Journal. This follows McGraw Hill’s determination to “focus on global operations and cutting costs.”
“The construction division ‘is not a business linked to the global markets,’” Douglas L. Peterson, McGraw Hill’s Chief Executive said to The Wall Street Journal. “’It's very different’ than its other units, such as Standard & Poor's Ratings Services, J.D. Power or S&P Capital IQ, with the potential for larger international footprints.”
McGraw Hill’s construction division “sells commercial-real-estate information to developers and manufacturers” and “generates about $170 million in annual revenue.” The division “employs about 650 people.”
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Washington Supreme Court Interprets Ensuing Loss Exception in All-Risk Property Insurance Policy
May 20, 2024 —
David G. Jordan & William E. Phillips IV - Saxe Doernberger & Vita, P.C.The "ensuing loss" clause is a provision that restores coverage for property insurance claims that are subject to certain policy exclusions, such as “faulty workmanship” and “faulty design.” It applies in cases where there is damage from a covered cause of loss that ensues, or results from, the excluded cause of loss. Courts across jurisdictions have grappled with interpreting the breadth of this clause, leading to varying conclusions regarding its scope and applicability. One of the primary challenges in interpreting “ensuing loss” lies in determining the ultimate cause of damage. Courts must ascertain whether the ensuing loss is sufficiently distinct from the excluded event to warrant coverage under the policy. This analysis often hinges on whether the cause of loss is thought to constitute a separate and independent occurrence or is merely a continuation or exacerbation of the excluded event.
Reprinted courtesy of
David G. Jordan, Saxe Doernberger & Vita, P.C. and
William E. Phillips IV, Saxe Doernberger & Vita, P.C.
Mr. Jordan may be contacted at DJordan@sdvlaw.com
Mr. Phillips may be contacted at WPhillips@sdvlaw.com
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Data Is Critical for the Future of Construction
April 19, 2022 —
Raghi Iyengar - Construction ExecutiveAccording to a
recent study, real-time visibility and access to critical data and insights are vital for rapid construction decision-making. Notably, inaccurate and missing data cost the industry almost $2 trillion in 2020. Even more surprising, construction companies often don’t know if they’ve made or lost money until the job is complete or if they’re on schedule until they start falling behind. These findings portray an important reality for the industry: Construction needs to establish and optimize data strategies to ensure it has the visibility control, and transparency needed to improve efficiency and productivity on projects.
Luckily, while historically slow to change, the construction industry has begun to adopt technologies that help firms improve efficiency and productivity on projects. With this technology, contractors can establish and optimize data strategies to ensure they have visibility, control and transparency.
Embracing data is a game changer as the industry continues to expand. In fact, the report from Autodesk and FMI cited above found that the construction companies using data technologies and strategies saw
fewer project delays, less rework and fewer change orders.
Reprinted courtesy of
Raghi Iyengar, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
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The Biggest Trials Coming to Courts Around the World in 2021
January 04, 2021 —
Anthony Lin - BloombergSeveral former world leaders, a Hong Kong media tycoon, the CEO of Theranos and Jeffrey Epstein’s confidante — all are scheduled to have their day in court next year.
With vaccinations heralding a return to normalcy, the next year should see courtrooms around the world coming back to life. Ghislaine Maxwell, China critic Jimmy Lai and Samsung heir Jay Y. Lee are among those facing high-profile criminal cases in 2021. Some proceedings, including the fraud trial of Theranos founder Elizabeth Holmes, are resuming after being postponed by the pandemic. Another delayed case, UBS’s appeal of its $4.9 billion French government tax penalty, is among the many that will be heard by higher-level and supreme courts.
There are also a number of cases against former world leaders, including France’s Nicolas Sarkozy, Malaysia’s Najib Razak and South Africa’s Jacob Zuma. One of the most tantalizing questions will be whether a certain former U.S. president could find himself facing trial as well.
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Anthony Lin, Bloomberg
Boston Tower Project to Create 450 Jobs
November 18, 2011 —
CDJ STAFFContinuing the development of Boston’s Theater District, Millennium Partners broke ground for the building of Hayward Place, a 15-story residential tower with street-level shops. The project is expected to take two years to complete and will employ about 450 construction workers.
Thomas Menino, the mayor of Boston said that the “ground breaking of Hayward Place is another sign of economic growth and forward progress on the revitalization of this area.” The project will be built by Suffolk Construction. John Fish, their CEO, said they were “fortunate as a contractor to be the beneficiary of this.”
The report in the Boston Herald notes that a few blocks away, the site of the former Filenes department store is still “an empty eyesore.” Menino joked, “anyone want to bid for it?” He promised that site would also be developed.
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EPA Announces that January 2017 Revised RMP Rules are Now Effective
February 06, 2019 —
Anthony B. Cavender - Gravel2GavelOn December 3, the Environmental Protection Agency (EPA) published a Federal Register notice advising the regulated community that EPA’s controversial Clean Air Act (CAA) stationary source Risk Management Program (RMP) rules are effective as of December 3, 2018 – the Final Rule: Accidental Release Prevention Requirements: Risk Management Programs Under the Clean Air Act (83 FR 62268). The initial package of the RMP rules was promulgated in 1996, but a series of chemical explosions prompted the development of new rules, whose process safety, third party auditing, emergency response, preparedness and information sharing provisions were designed to confront these challenges.
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Anthony B. Cavender, PillsburyMr. Cavender may be contacted at
anthony.cavender@pillsburylaw.com
Commonwealth Court Strikes Blow to Philly Window and Door Ordinance
January 05, 2017 —
Wally Zimolong – Supplemental ConditionsOn December 22, 2016, the Pennsylvania Commonwealth Court issued an important opinion that has flown under the radar somewhat. The case Rufo v. Board of Licenses and Inspection Review, invalidates a major portion of Philadelphia’s so called windows and doors ordinance, which requires owners of vacant properties to install glass windows and doors with frames on vacant properties. A copy of the opinion can be found here. (I only learned about the case because of a tweet by a litigator with the pro-freedom group the Institute for Justice.)
The Windows and Doors Ordinance
The case concerns Section 306.2 of the Property Maintenance Code which requires “the owner of a vacant building that is a blighting influence, as defined in this subcode, [to] secure all spaces designed as windows with windows that have frames and glazing and all entryways with doors.” Property owners found in violation of the ordinance can face stiff fines. Property owners are subject to a daily fine for each door and window in violation of the Ordinance. The fine is $300 per window or door. However, because most vacant properties have multiple windows and doors the fines can add up exponentially.
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Wally Zimolong, Zimolong LLCMr. Zimolong may be contacted at
wally@zimolonglaw.com
Address 'Your Work' Exposure Within CPrL Policies With Faulty Workmanship Coverage
December 29, 2020 —
Joseph Reynolds - Construction ExecutiveNew faulty workmanship coverage forms have emerged to potentially address the “your work” exposure found in most contractors professional liability (CPrL) policies. Once offered by only a single carrier, several insurers have recently entered the marketplace to cover the cost to repair or replace faulty work or the related material costs associated with the “self-performed work” of general and trade contractors.
Commonly serving as a separate insuring agreement and offered in carrier-specific CPrL policies, faulty workmanship coverage forms are designed to protect contractors from the “your work” claims triggered by project owners and other third parties. This includes the contractor’s workmanship as well as the equipment, parts and materials such as steel beams, epoxy activators and anchor bolts used to perform construction work.
Insureds should be aware that exclusions and strict conditions apply. For instance, faulty workmanship policies typically do not cover resulting bodily injury and property damage and some policies even exclude project delays and other business risks that can arise from the claims of unhappy customers. Another potentially confusing issue is the scope of coverage offered under a ‘faulty work’ endorsement. While some faulty workmanship enhancements are specifically-designed to cover “your work,” claims, others may only cover the products manufactured or fabricated by the insured and not the work they perform or install.
Reprinted courtesy of
Joseph Reynolds, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
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Mr. Reynolds may be contacted at
joseph.reynolds@rtspecialty.com