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Monthly Archives: April 2011

On March 29th, the Contractor’s Bonding Assistance Program (CBAP) held its first free seminar of the year. The seminar, which focused on financial statements, was well attended by many small local contractors from Alameda County.

The event featured Karl Schunck — an accountant, active member of industry trade associations including CFMA, EUCA and AGC, past president of the Surety Association of Northern California, and partner in charge of accounting and auditing with Jones, Henele and Schunck. A frequent lecturer on construction accounting topics, Schunck focused on addressing some of the key business/financial planning and transactional needs of privately held companies in construction. The forum also provided contractors with a venue to share some of their challenges and find solutions with the goal of leading to greater financial success.

“The seminar was very helpful,” said attendee Bryant Fields. “I have learned quite a bit and now understand what I need to look for in an accountant for my businesses.”

Every seminar/workshop CBAP hosts gives contractors and vendors an opportunity to connect with professionals who do exactly what they do. CBAP takes a holistic approach to our services, helping contractors gain knowledge, strategies, and techniques to increase their bonding capacity and improve their administrative skills.

“I’m grateful that CBAP is providing this valuable information around surety bonding for local contractors,” adds Fields.

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A subcontractor of Skanska USA Civil Northeast — considered one of the country’s top 10 contractors — is under federal indictment  for evading government contract requirements that they hire a certain percentage of minority, disabled, or women-owned contractors, according to a recent report in The New York Times.

While Skanska and other companies paid the subcontractor tens of millions of dollars, they had no employees or equipment and did no work, according to the indictment, which said the subcontractor was hired to do concrete work, demolition, air testing, soil sampling and hazardous-gas monitoring. The actual work was performed either by the general contractor or third-party companies.

When we hear news like this, it makes us proud of our programs and our involvement in National Association of Minority Contractors. What we do here actually builds capacity so that real companies can get involved in major construction, as opposed paying people off so they can benefit instead of the entire community.

Read the full article here.