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

 
Speelman Delivers on FedEx Project
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Federal Express has built its success on understanding that its customers require that their packages be delivered on time and to the right location.

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Energy Management Makes Dollars and Sense
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A large part of the nation has been spooked recently by regional energy crises. If necessity is the mother of invention, then perhaps recent price spikes, power outages and fears of terrorism are causing some people to assume more responsibility for their energy needs.

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Downtime Leads to Lost Revenue
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One of the most power-quality aware industries is the financial market, as it is one of the most dependent on the uninterruptible operation of computer and communications technology equipment for their business to generate “positive money.” It is not surprising that many of the members of the 7x24

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'Mistakes' and the Law
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We all make mistakes. Often, there are no ramifications and the error in judgment can be resolved with an excuse or apology. In contract law, mistakes have a deeper meaning, and the results can be harsh. The law characterizes mistakes and places them into categories.

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Before It Strikes Again
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A couple of months ago we dealt with lightning and the fast transients that can be coupled onto the electrical distribution system of the utility or within a facility, and the use of TVSS (transient voltage surge suppressors) to minimize the potential damage from such.

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The Art of Negotiation; the Art of War
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A few years ago, I was asked to present a seminar on delay/disruption damages. In my presentation, I made reference to “The Art of War” by Sun-Tzu, an ancient recipe book on winning at battle.

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Can I Get a Witness?
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Construction companies often retain the services of consultants/experts to assist in preparing a claim or in presenting a dispute in court or arbitration. The range of services offered is extensive. Almost all bar journals and trade magazines carry advertisements for expert advice and testimony.

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