Fairfield Connecticut Building Expert Directory

Housing Starts Plunge by the Most in Four Years

March 19, 2015 — Bloomberg News
(Bloomberg) -- Housing starts plummeted in February by the most since 2011 as plunging temperatures and snow became the latest hurdles for an industry struggling to recover. Work began on 897,000 houses at an annualized rate, down 17 percent from January and the fewest in a year, the Commerce Department reported Tuesday in Washington. The pace was slower than the most pessimistic projection in a Bloomberg survey of 81 economists. “Today’s report leaves me a little concerned,” said Michelle Meyer, deputy head of U.S. economics at Bank of America Corp. in New York. “While the initial reaction is to dismiss much of the drop because of the bad weather, the level of home construction continues to be depressed.” Read the court decision
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Michelle Jamrisko may be contacted at mjamrisko@bloomberg.net

Risk Management for Condominium Conversions

July 31, 2013 — David McLain, Higgings, Hopkins, McLain & Roswell, LLC
One of the bright spots in the Colorado construction industry over the last few years has been the construction of for-rent apartments. It seems as though apartments are going up everywhere you look along the Front Range. As market forces change, it will be interesting to see whether these units will remain apartments or whether they will be converted into for-sale condominiums or townhouses. One of the risk management strategies we have recently discussed with our general contractor clients who have been asked to build apartments is to ensure that the project remains a for-rent apartment project through the applicable statute of repose, conservatively assumed to be eight years. Unfortunately this is not always feasible, usually because the owner and/or lender are not interested in encumbering the property for such a long period of time, and want to retain the ability to convert the project if and when market forces allow, even if that is before the running of the statute of repose. The purpose of this article is to discuss the insurance and risk management ramifications of converting a project too early. I have recently heard from several sources in the insurance industry that there are owners and contractors who are currently building apartments with the idea that they will be held as apartments for two to three years and then converted to for-sale condominiums or townhomes. While this strategy may have great appeal from a business point of view, it has a very serious risk management downside. Apparently, these owners and contractors are operating under the mistaken belief that they will have no liability exposure to the ultimate purchasers of the converted units or to the homeowners association for construction defects. This is an incorrect belief. Read the court decision
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Reprinted courtesy of David M. McLain
David M. McLain can be contacted at mclain@hhmrlaw.com

Court Holds That Parent Corporation Lacks Standing to Sue Subsidiary’s Insurers for Declaratory Relief

May 12, 2016 — Christopher Kendrick & Valerie A. Moore – Haight Brown & Bonesteel LLP
In D. Cummins Corp. v. U.S. Fidelity & Guaranty (no. A142985, filed 3/30/16), a California Court of Appeal upheld the dismissal of a declaratory relief action filed by the parent holding company of an insured corporation seeking coverage for asbestos claims. Cummings Corp. installed asbestos containing products in California. It had been insured by USF&G between 1969 and 1992. Cummings Holding, LLC was the parent and majority shareholder of Cummings Corp., which had no assets. The holding company claimed to be “the sole entity responsible for managing the affairs of Cummins Corp., including making decisions as to litigation strategy, resolution and settlement,” and sued USF&G seeking a declaratory judgment that the insurer was obligated to defend and/or indemnify Cummins Corp., “in full, including, without limitation, payment of the cost of investigation, defense, settlement and judgment . . . , for past, present and future Asbestos Suits.” The insurer demurred on the ground that the holding company had insufficient interest in its insurance policies and, consequently, lacked standing to sue for declaratory relief. Mr. Kendrick may be contacted at ckendrick@hbblaw.com Ms. Moore may be contacted at vmoore@hbblaw.com Reprinted courtesy of Christopher Kendrick, Haight Brown & Bonesteel LLP and Valerie A. Moore, Haight Brown & Bonesteel LLP Read the court decision
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Despite Construction Gains, Cement Maker Sees Loss

May 10, 2013 — CDJ STAFF
Vulcan Materials, the Birmingham, Alabama-based business that describes itself as the nation’s largest producer of construction aggregates and aggregate-based construction materials, has reported that its losses have increased to $54.8 million in the first quarter of 2013. This was on revenues of $538 million, an increase from the past. The first quarter also saw the company shipping 248,000 tons of material, an increase of fourteen percent over the first quarter of 2012. Losses were attributed to bad weather, lower production volumes, and an increase in costs. Global Cement quotes Don James, the chairman and CEO of Vulcan, “growth in residential construction activity and its traditional follow-on impact to private non-residential construction underpins our expectations for volume and earnings improvement in 2013.” Read the court decision
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DOE Abruptly Cancels $13B Cleanup Award to BWXT-Fluor Team

February 01, 2021 — Mary B. Powers & Debra K. Rubin - Engineering News-Record
The U.S. Energy Dept. has cancelled a $13-billion, 10-year contract awarded just a few months ago to a team led by BWXT Technical Services and Fluor Federal Services to manage millions of gallons of radioactive waste stored underground at its Hanford, Wash., former weapons site—confirming plans for a major scope expansion and lengthy reprocurement but sharing few details. Reprinted courtesy of Mary B. Powers, Engineering News-Record and Debra K. Rubin, Engineering News-Record Ms. Rubin may be contacted at rubind@enr.com Read the full story... Read the court decision
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Is the Construction Industry Actually a Technology Hotbed?

August 19, 2024 — Andrew Silver - Construction Executive
Technology has always been a driving force behind progress, and the construction industry is no exception. Over the years, technological advancements have revolutionized the way companies design, plan and build structures, leading to increased efficiency, safety and sustainability. From virtual-reality simulations to drones and 3D printing, technology has transformed every aspect of the construction process. However, the construction trades still lag behind other sectors in adoption of digital technologies. With a lack of skilled labor continuing to be an impediment to growth and profitability in the construction industry, technological developments could have significant implications for successful adopters. Already, the industry is seeing a huge difference in valuation between traditional engineering and construction firms and construction software companies. As labor shortages continue to hinder growth in the industry, consolidation is likely, as is the probability that companies with the greatest tech capabilities will be the most highly valued. There are several areas of technology that are of the greatest interest in the current marketplace. BIM Building information modeling with computer-aided design software now allows architects and engineers to create detailed and accurate 3D models of buildings and infrastructure projects, integrating data about every aspect of the building, from materials and costs to energy efficiency and maintenance schedules. These models not only help in visualizing the final product; they also enable better communication and collaboration among project stakeholders. Reprinted courtesy of Andrew Silver, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Brazil Congress Chiefs Deny Wrongdoing in Petrobras Scandal

March 12, 2015 — Raymond Colitt, Anna Edgerton and Sabrina Valle – Bloomberg
(Bloomberg) -- Brazil’s congressional heads denied involvement in the country’s largest corruption scandal after being named among dozens of politicians for investigation. Renan Calheiros and Eduardo Cunha, the heads of the Senate and lower house respectively, and Rio de Janeiro Senator Lindbergh Farias all rejected allegations of graft in the kickback scheme dubbed Carwash. Farias told the Folha de Sao Paulo newspaper in an interview published Sunday that while he may have acted improperly, his actions weren’t illegal. The senator said he took a 2 million real-donation ($650,000) from Andrade Gutierrez SA, a Rio-based construction company. Reprinted courtesy of Bloomberg reporters Raymond Colitt, Anna Edgerton and Sabrina Valle Mr. Colitt may be contacted at rcolitt@bloomberg.net Ms. Edgerton may be contacted at aedgerton@bloomberg.net Ms. Valle may be contacted at svalle@bloomberg.net Read the court decision
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The ‘Sole Option’ Arbitration Provision in Construction Contracts

July 16, 2014 — Beverley BevenFlorez-CDJ STAFF
On his Best Practices Construction Law blog, Matthew Devries discussed how the “at its sole option…has the right to demand arbitration” can “be a good provision if you are the party who has that option.” For instance, Devries cites the case Archer Western Contractors, LLC v Holder Construction Company, where “the Georgia Court of Appeals recently affirmed the trial court’s decision to grant a contractor’s motion to compel arbitration with a ‘sole option’ provision.” Devries stated that “it is important to review carefully the disputes clause in your construction contract to fully understand who has the right to demand arbitration and what rules will apply.” Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES