NASBP Education Now Available for ASA Members
The National Association of Surety Bond Producers (NASBP), an ASA Alliance Partner, offers a host of resources and educational programs focused on bonding and risk management for both producers and contractors. ASA members can now access SuretyLearn and SuretyLearn for Contractors at member rates by using a discount code at registration on the NASBP site. Check your chapter emails, or contact your Chapter EDs for the code. SuretyLearn for Contractors helps to orient small and emerging contractors to the path for achieving surety credit, through both free and paid resources and live and recorded educational programs.
First Inaugural Construction Hike for Hope
The American Foundation for Suicide Prevention held their first Construction Hike for Hope in six cities throughout Florida on Apr 20, 2024. The are multiple efforts to remove the stigma of suicide, talking openly about the struggles and issues specifically in the construction industry that are gaining momentum. The organization is looking to spread the word, and is now scheduled in six other states (Arizona, Georgia, New York, North Carolina, Tennessee, and West Virginia). Reach out about organizing an event in your community.
2024 Construction Hike for Hope
ASA Urges Delaying the Overtime Rule
ASA, along with the Partnership to Protect Workplace Opportunity (PPWO), requests that the Wage and Hour Division (WHD) stay the effective date of its overtime final rule published in the Federal Register on April 26, 2024, (89 FR 32842) to allow for judicial review, as the rule is currently being challenged in two federal courts. The U.S. Court of Appeals for the Fifth Circuit is considering the Department of Labor’s (DOL) statutory authority to implement a minimum salary threshold related to the overtime pay requirements under the Fair Labor Standards Act, while a lawsuit filed on May 22, 2024, before the U.S. District Court for the Eastern District of Texas is challenging the legality of the substantial increase to the minimum salary threshold included in the final rule as well as the rule’s triennial automatic updates to the threshold. The Biden administration has already delayed implementation of several final rules pending legal challenges, so there is precedent for this action.
A stay of the overtime rule would protect workers whose terms and conditions of employment may be negatively impacted by the policy changes within the rule. Many workers will be reclassified if the final rule goes into effect, resulting in them losing workplace status, access to benefits, flexible work arrangements, or career development opportunities. These changes should not be made lightly, as the resulting low employee morale and/or decrease in productivity cannot easily be recovered if the rule is eventually invalidated by the courts. Finally, this week, Rep. Walberg (R-MI) and Sen. Braun (R-IN) introduced a Congressional Review Act (CRA) challenge to nullify the overtime rule.
Upcoming Webinar: 5 Secrets to a Healthier Cash Flow
Tuesday, August 13, 2024 (12:00 PM – 1:00 PM) (ET)
As a subcontractor, you’re constantly financing your clients’ projects. You’re funding the job and doing the work before you’re paid. And getting paid isn’t easy. Only 5% of subcontractors report always being paid on time, and the average time to get paid in construction is 90 days. It’s time to buck the status quo! In this session, Claire Wilson will share best practices and strategies for getting paid faster and better managing cash flow on projects.
Learning Objectives:
- Identify and address the main causes of payment delays
- Detect billing red flags and intervene
- Optimize change order management
- Implement billing projections and cash flow forecasts
Presented By: Claire Wilson. Claire is the Head of Construction Solutions at Siteline. Previously, she was a project manager at Tishman Construction in New York City, where she worked on major projects like Hudson Yards and JP Morgan’s Corporate Headquarters. She serves on the Bay Area Subcontractors Association (BASA) board, is an active member of CFMA San Francisco, and has spoken at numerous regional and national construction conferences.
