Ike's Newsletter May 10, 2024
Up Front Payment for YOUR Projects?
Tutor Perini is getting upfront payments for billion-dollar projects. Is this a trend that could flow down to subcontractors? This Construction Dive article quotes CEO Ron Tutor saying, “We demand and get mobilization payments…8% to 10% upfront…the day we set foot on the job.” “We tell them, we don’t finance our work, they do.”
Protect your Company When an Employee Leaves
A recent FTC ruling that would ban non-compete clauses has not taken effect and there are numerous lawsuits fighting it. If this becomes effective in August, you will have to determine how to address your employees who decide to go into business for themselves. How will you protect your company? This article by Lerch Early and this one, by Smith Currie, offer more explanation.