November 6, 2008
2pm EDT
This Webinar, What is the Price of Time on a Construction Project?, will explain how to use ConsensusDOCS contracts to avoid conflict in delay analysis.

For more information, contact Cassia Griffin at griffinc@agc.org.

The ConsensusDOCS standard contract 290, Guidelines for Obtaining Owner Financial Information, and the related Financial Questionnaire 290.1, provide an easy and direct way for contractors to quickly determine the financial viability of projects.  ConsensusDOCS is the only catalog of standard contract documents that provides such a project tool, which are crucial in turbulent economic times.  The 290 expressly highlights, “[i]n any contractual venture, each Party has a legitimate interest and responsibility in ascertaining whether the other Party is fully capable of performing all of its contractual obligations…The proven ability to pay is just as important as the proven ability to perform.” 

Contractors value ConsensusDOCS-based projects because they clearly possess the contractual right to request and obtain financial viability information.  The 290 provides a reasonable approach to requesting such sensitive but critical financial information.  The 290 is endorsed by national owner groups including COAA, CURT and NASFA. In addition, ConsensusDOCS 220 and 221 provide useful Contractor prequalification forms that can be used for Prime or Specialty Contractors.

ConsensusDOCS are the first and only consensus standard contracts written by and for construction industry professionals.  ConsensusDOCS contract documents incorporate best practices from across the construction industry.  The ConsensusDOCS 290 and 290.1 are two more examples of the collaboration of top professionals creating documents and procedures that are fair, reasonable and benefit the project’s best interests.

For more information, please visit www.AGC/Bookstore.org or Carrie Ciliberto at 703-837-5367 or cilibertoc@agc.org.

With 150 new construction safety talks, this informative manual is a go-to resource for construction safety supervisors needing to properly train employees. Safety topics include: Caught in Between, Electrical, Environmental, Excavations, Falls, Health Hazards, Highway Hazards, Scaffolds & Ladders, Steel and Struck By. Also, includes a full version on CD-ROM. 2007. Item # 139.
 
To order go to www.agc.org/bookstore or call 800-242-1767.

The National Building Museum hosted its annual Festival of the Building Arts (FOBA), presented by AGC, on October 11. A fun event for all ages, FOBA offers hands-on activities to teach young people about the exciting careers construction can offer.

Each year, AGC distributes child-sized hard hats to attendees to wear as they learn skills such as bricklaying and drywall finishing, and work with blacksmiths and sculptors. 

For more information, contact Monica Cardenas at (703) 837-5364 or cardenasm@agc.org.

House Speaker Nancy Pelosi (D-Calif.) convened a forum with economic experts to discuss an economic recovery plan for the nation on Monday.  Prior to the meeting, AGC sent a letter to Speaker Pelosi urging her to consider economic stimulus initiatives that will positively impact economic activity, including provisions to boost the construction industry.  AGC sent a press release announcing the meeting and AGC's support of infrastructure investment.  The letter, press release and a white paper titled The Pivotal Role of Federal Infrastructure Investment in Our Economy, are available here.

At a press conference following the forum, the Speaker expressed her intent for the House to develop an economic recovery package that would include an infrastructure investment component to "rebuild America" among other provisions to provide financial assistance to state and local governments whose budgetary shortfalls may otherwise lead to reductions in public works spending.   The Speaker did not offer any specifics of an infrastructure package, but did refer to the bill the House passed September 26, which AGC supported and would have provided approximately $34 billion in additional infrastructure spending.   That bill, which passed by a vote of 264 to 158, would have provided $12.8 billion for the federal-aid highway program; $3.6 billion for transit; and $600 million for airport capital improvement projects; along with grants to other major federal construction spending accounts.  Speaker Pelosi announced that she would be calling on the appropriate committee chairmen to conduct hearings on various portions of an economic recovery package in the upcoming weeks.   It is possible that the House may return for a "lame duck" session in mid-November to act on a package.   The Senate has already expressed its intent to return briefly to conduct legislative business during the week of November 17.

For more information, contact Brian Deery at (703) 837-5319 or deeryb@agc.org.

AGC of America is excited to announce the 2009 Highway & Utilities Contractors Issues Meeting, to be held February 5 -7, 2009 at the La Quinta Resort and Club in Palm Springs, California. This meeting is the premier gathering place for contractors and related businesses involved in every aspect of highway and utility construction to hear about and discuss issues and trends in these markets.

Some of the issues to be addressed include: SAFETEA-LU Reauthorization and Wastewater Trust Fund; Outlook on the New Congress and Administration; Impact of Tight Credit Market on Public Works Funding; Construction Industry Ethics and Compliance Program: Why You Need One, How to Implement; Florida's Success with Disputes Resolution Boards for All Sized Projects; and Preparing Your Company for a Minneapolis Bridge Disaster.
 
Schedule, hotel, registration and other information is available here.   For more information, contact Brian Deery at (703) 837-5319 or deeryb@agc.org.

AGC is sponsoring a Chapter Contest from October 15 through December 31, 2008, awarding the Chapter with the highest dollar amount of ConsensusDOCS standard contract document sales. Help your Chapter win by purchasing ConsensusDOCS. 

ConsensusDOCS are the first and only consensus standard contracts written by and for construction industry professionals.  ConsensusDOCS incorporate best practices from across the construction industry to create documents and procedures that are fair, reasonable and benefit the project’s best interests.

AGC members receive a 20% discount on ConsensusDOCS contract documents when purchased through the AGC Bookstore. 

For more information, contact Carrie Ciliberto at 703-837-5367 or cilibertoc@agc.org.

The upheaval on Wall Street is delaying or stopping projects all over the country, even ones already under way. Developers who had lined up construction loans from Lehman Brothers have found the check wasn’t in the mail this month, forcing contractors to front the money—if they can find it—or walk off the job. For projects that contractors expected to start this fall, the developers are finding the lending window has been shut for now, or the revenue assumptions for the finished development no longer look valid.

Public projects and institutions such as hospitals and universities may not have the same credit difficulties, but their funds have also taken a hit. Many states are dialing back their forecasts for income and sales tax revenues while increasing their projections for social welfare spending. That combination, along with a requirement that their budget be balanced in a fiscal year that typically ends just nine months from now, means construction projects will be delayed, scaled back or canceled.

Institutions that had counted on endowments or pledges from wealthy donors may find their portfolios have shrunk too much to proceed with planned projects. Putting the economic engine back in gear may not be easy. Banks and other lenders that have suffered losses directly on mortgages may be able to sell those to the government, depending what sort of rescue package is implemented. (At this writing, nothing has been enacted.) But they are unlikely to recoup losses incurred on many indirect investments and may have to reduce their lending until they attract more capital.

State and local revenues will not bounce back right away, although a “stimulus” package that appropriates funds for public works could resuscitate construction. The best chance for recovery is if housing revives. Although figures on permits, starts and sales in August were dismal, the inventory of unsold new homes has shrunk substantially. If the lending window for mortgages reopens, there could be a rapid upturn in home sales. That would quickly spur other consumer spending and would bring single-family home construction back to life by the second half of 2009 in some parts of the country. Property tax receipts would then turn up, helping school districts and other local governments.

To report impacts that your firm has experienced from the credit market turmoil or to request a file of reports from others, email simonsonk@agc.org. State your line of business and territory, and whether you are willing to be identified. Replies will be kept anonymous unless permission to share identification is granted.

AGC is the proud recipient of the Web Marketing Association's WebAward for outstanding achievement in web site development in the category of Associations Standard of Excellence.

AGC's new Web site was launched earlier this year, featuring a brand new look, simple navigation, bold images and a wealth of well-organized information.

Entries to the WebAward are judged on design, innovation, content, technology, interactivity, copywriting and ease of use. The Standard of Excellence WebAward recognizes AGC's Web site as the standard of excellence for which all Web sites should strive, according to the Web Marketing Association.
For more information, contact Jason Silkey at (703) 837-5434 or silkeyj@agc.org.