Only 41% of Contractors Spot Cost Overruns While They Can Still Fix Them
A CMiC and Dodge study found most U.S. contractors contain overruns to 3-5% but can’t see them coming, with only 22% reaching a decision within hours.
92% of Subcontractors Floated Payroll Last Year Waiting to Get Paid
A new Siteline survey finds 43% of subcontractors wait 90+ days for retainage against 15% of GCs, and 56% missed a mechanic’s lien deadline in two years.
Procore’s Asset Register Goes After the Closeout Binder Dump
Procore shipped Asset Register worldwide, capturing warranties, manuals and as-builts against each installed asset during the job instead of at handover.
Construction Input Prices Are Up 7.1%, and the Damage Is Concentrating
July PPI data puts nonresidential construction input prices up 7.1% year over year, with individual materials hitting multi-year highs as the average holds.
Bally’s Is Slow-Walking Its $1.7B Chicago Build Over Video Gambling
Bally’s told its Gilbane-led JV it is resetting construction pace on the non-gaming half of its $1.7B Chicago casino, putting 1,500 union workers in limbo.
AECOM Took a $337 Million Charge on One Construction Management Job
AECOM swung to an $86.7M quarterly loss after a $337M charge on a single CM project bid in 2019, even as backlog hit a record $27.8 billion.
Multifamily Developers Are Now Blaming Utility Hookups, Not Just Rates
NAHB’s Multifamily Production Index fell to 43 in Q2, mid and high-rise sentiment to 32, and developers named utility connections as a constraint.
Clark, Mortenson and SmootDC Will Build the $3.8B Commanders Stadium
The Washington Commanders named their construction joint venture on August 11 for a 65,000-seat enclosed stadium on the RFK site, opening in 2030.
Two Workers Died in a Stockton Trench and Nobody Knew for 12 Hours
A 10-foot trench collapsed Friday evening at a Stockton supermarket site. The two men inside weren’t found until a coworker returned Saturday morning.
The Labor Board Has a Quorum Again, and a 3-1 Majority
The Senate confirmed James Macy and David Prouty on August 7, restoring the NLRB to four members and putting Cemex and joint-employer precedent back in play.
Amrize Raised Revenue Guidance and Cut EBITDA. Blame Diesel.
North America’s largest cement producer posted 8.6% Q2 revenue growth, then trimmed EBITDA guidance as oil-driven freight and diesel costs outran pricing.
Colorado Just Made Delay Costs Claimable on Public Bond Claims
SB26-074 takes effect August 12, letting Colorado contractors include delay and lost-productivity costs in public bond claims without risking the whole claim.
Dream Finders Is Buying Beazer for $33.50 a Share
The $2.2 billion all-cash deal creates the sixth-largest U.S. homebuilder across 26 markets and about 520 communities, with $100 million in targeted synergies.
A One-Sponsor Senate Bill Would Freeze DOE Appliance Standards for 270 Days
S.5338 would codify DOE’s Process Rule, force the July proposal final within 270 days, and strip states of the power to set their own appliance standards.
Buildots Just Put a Laser Scanner Inside Its Progress-Tracking AI
Buildots and NavVis added survey-grade laser scanning to the construction intelligence platform on August 11, already running on Intel fab work.
Take Out the Data Center Guys and Backlog Is 7.5 Months
ABC’s backlog indicator fell to 8.0 months in July. The 88% of contractors with no data center work sit at 7.5 months, against 11.4 for the rest.
Tutor Perini’s Federal Arm Won a $69.5M Rebuild of Death Valley’s Water System
Perini Management Services will replace the water and wastewater systems serving Furnace Creek and Cow Creek, where repairs have been running about once a week.
Banks Eased Commercial Real Estate Lending Everywhere Except Construction
The Fed’s July loan officer survey shows banks easing on nonresidential and multifamily but holding construction standards flat. CLD was the only category where demand fell.