Last year was one of the bleakest in history for
most of us economically. Yet Cincinnati’s
Thompson Plumbing, Heating & Cooling grew more than 50 percent in 2009. The
company now has more than 50 service vehicles on the road and employs upwards
of 80 people, with a penchant for hiring military veterans.
There is no question we are in uncertain
economic times. One of our motivations for starting a small business was to
control our own destiny and to be our own boss. Currently, we are uncertain
which direction to take and it makes us uncomfortable. This is a natural
feeling; wandering in the dark makes everyone nervous. However, things are not
as hopeless as you might think.
Probably a business owner’s largest asset is
trapped in his or her illiquid business. Monetizing that wealth likely will be
the largest financial event of the business owner’s life. This transaction will
include three parties: the seller, the buyer and Uncle Sam. So, come to
understand this: “It is not how much you make, but how much you keep.”
We have enough problems with our image in the
roofing industry. Now Georgia-based roofing contractor American Shingle’s
Chapter 7 Bankruptcy filing is leaving a trail of homeowners, subcontractors,
and various other suppliers in the lurch over tens of millions of dollars worth
of insurance work that was never completed.
The downturn in the economy has created
opportunities for roofing contractors with building owners that are intent on
saving costs by maintaining - rather than replacing - their roof systems.
If you feel angry or depressed about the latest
economic news, do not despair. You are not alone. But, be careful what you
believe because your mindset might sabotage the results you seek.
Owners routinely insert disclaimers and
limitations of liability clauses in contracts that may limit or bar a
contractor or subcontractor’s ability to collect additional compensation for
work performed because of unexpected conditions and delay. This article will
focus on one type of disclaimer - the “no damages for delay” clause.
A top 10 list can be a humorous way to point out
a sensitive topic. Combining fun and training; here is my list of symptoms that
indicate a recession may be hurting your business.
This column is commentary and contains some
opinions rather than complete details of the topic being covered. The topic is OSHA’s amended Part 1926 Subpart CC - Cranes and
Derricks in Construction.
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