Your Business

 

 

Articles in this section are intended to help electrical contractors grow and improve their businesses, from financial and legal advice to creating a service and maintenance department. You’ll find articles on estimating projects and more below. 

While energy innovation enjoys a surge of popularity, one crucial element is still lacking: financing.

On a $28 million infrastructure contract, a contractor suffered an $11 million loss because of high charges by the utility companies for their part of the installation. The contractor, it turned out, got no remedy in court and, therefore, no means of recouping this major loss.


Along with many new trends that electrical contractors are finding themselves involved with these days, there are some surprises. While ECs have traditionally wired the power for elevators, much of the work has been left to mechanical contractors.

According to the Consortium for Energy ­Efficiency’s 2013 State of the Efficiency Program Industry report, “U.S. and Canadian combined gas and electric Demand Side Management program budgets reached $9.6 billion in 2013, representing a 2 percent increase over 2012 DSM budgets.

More on Your Business

 
E-J Electric Installation Co. delivers Major League Upgrades
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On April 17, 1964, a crowd of more than 48,000 fans gathered in the Flushing Meadows neighborhood to witness the New York Mets play the first game at their new home in Shea Stadium.

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Taking Stock of the Stock Market
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A lot has changed since Dow and Jones teamed up in 1896 A few years ago, tracking your stock market investments required a simple review of daily values in The Wall Street Journal or your local paper.

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The Man with the $200,000 Smile
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Ask half a dozen of Bob Colgan’s acquaintances about the man who has been the Babe Ruth of the Toledo electric community for 40-plus years and you’ll hear two things: “First, he’s an honest man with great integrity whose word is his bond.

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Kicking Tires
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Trade shows are a great place to learn The annual rites of summer’s last gasp: the Labor Day barbecue, returning the kids to school and preparing for the NECA convention. The annual show is good opportunity for estimators to see the industry’s new products.

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A Big Responsibility
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Recently, a contractor in Iowa called me and asked if I knew about a Code change on A-based meters that was published in this magazine. A friend had borrowed his copy and he couldn’t get the information.

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Lost at Sea Without a Compass
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Ambiguities, vagueness in contracts can be disastrous Drafting construction contracts takes skill. Interpreting someone else’s contract can be equally challenging, and more so if clauses can be read to have multiple, possibly contradictory meanings.

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As Security Concerns Grow, Business Follows
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Pro-Tec Design and Premier Electrical demonstrate success in the field of security In 1966, a Chicago-based electrical contractor landed a job working on the main runway at the Minneapolis-St. Paul (MSP) International Airport.

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