Insights Magazine

While the economy has been expanding for the last nine years, some economists predict a slow-down or the next recession to begin around 2019 and onwards. Here at MCA Inc. working with our contractors we believe, based on the collective backlog and barring any major catastrophic events both naturally and socially that we may see the next slow down around 2022-2023.
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Some may argue that an important attribute of a qualified individual in the electrical industry is the ability to recognize electrical hazards. An electrical hazard is a dangerous condition that could result in electric shock, arc flash burn, thermal burn, or arc blast injury. The first step to success is to understand what electrical hazards are and then to realize that not all electrical equipment or applications are the same. The journey to recognizing electrical hazards is not necessarily straight forward but there are some basic concepts that once understood can make a difference in success.
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Consistency is a key ingredient of success in many activities – including investing. And one technique that can help you become a more consistent investor is paying yourself first.
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Building on the jobsite has always had productivity challenges. Clash, material mismanagement, adverse weather conditions, injuries, wasted motion, and many other factors lead to inefficiencies that cost you time and money. And as a result, generally speaking, less than 50 percent of time on the jobsite is productive. That means less than half your employees’ time is spent contributing to a job’s profit margin.
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One of the keys to learning how to protect your business and personal assets from lawsuits is to understand how lawsuits work. The proceedings of a lawsuit can be broken into six simple steps.
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In recent years, the total number and rate of work-related Musculoskeletal Disorders (MSD) or ergonomic injuries in construction have increased significantly.1 With an increase of 12%, this data highlights the need for both employers and employees to focus more of their attention to ergonomic safety. According to the Center for Construction Research and Training, there is a 19% employment increase for electricians projected through 2024. Why is this significant? It equals more than 81,000 new opportunities to improve safety right at the beginning of these apprentices’ careers.
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The year was 1927. Charles Lindbergh flew the Spirit of St. Louis across the Atlantic and Henry Ford, following the success of the Model T, released the mass production Model A with over 400,000 sold in the first two weeks. The United States, flush with cash from the economic boom nicknamed the ‘Roaring Twenties,’ was completing federal projects such as the Holland Tunnel under the Hudson River, which connected New York and New Jersey, and starting new projects such as the Mount Rushmore federal monument. There were smaller developments too, such as the construction of a veterans’ hospital in Rep. Robert L. Bacon’s Long Island district.
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A construction CPA recently told me about a contractor with a rock-star income statement. Every job was profitable, and it was propelling them into bigger and bigger projects as the business continued growing – until they folded. Why? They ran out of cash. Like too many construction companies, they didn’t have a profit problem; they didn’t have a spending problem; but they did have a cash flow problem. And more than likely, they could have prevented it.
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Looking in the mirror at the end of the day can be a painful endeavor for leaders. It’s that raw moment when they drop the “fake it till you make it” smile. They let their anxiety seep through their pores and wonder out loud just exactly how much stress, frustration, life lessons, and wrinkles they will physically endure before they hit their target numbers or shake hands with their next investor.
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