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. 

Most taxpayers know the Federal Reserve Board of Governors meets periodically to set interest rates, but too often, they leave the deeper analysis to economists.

Various internet sources claim that adults make an average of 35,000 decisions each day. While that total may be in dispute, it highlights the constant activity our brains are in deciding on matters both inconsequential and life changing.

This tunnel lighting is part of Birmingham’s total lighting upgrade.

The City of Birmingham, Ala., announced a new project designed to upgrade its current public parking garage lighting to energy-efficient, connected light-emitting diode (LED) lighting. The retrofits are expected to save about $375,000 per year.


Credit cards typically apply interest to late payments. This interest factor, which may be 18 percent or more, can be viewed as a form of liquidated damages (LDs). The base amount owed is not liquidated, because it depends on your balance, but the percentage is liquidated, or fixed, by agreement.

More on Your Business

 
Rewiring the Industry

The electrical contracting industry's focus is shifting and expanding rapidly. Design-build jobs are making up a greater portion of industry projects and more electrical contractors are working in the installation of information transport systems (ITS).


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If It Sounds Too Good to Be True...

Centuries ago, investment decisions were easy. You earned money at your trade, kept your gold coins in a pouch attached to your clothing and knew exactly how much wealth you had. You worried more about survival than the economics of gold values and if you were robbed, you knew immediately.


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The Aftermath

Natural disasters are big news. Television presents live images of the devastation and the faces and voices of the victims of hurricanes, forest fires, tornadoes and other catastrophes. Newspapers follow with detailed accounts of property damage, injuries and death tolls.


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E-Money, Cash Flow and Check 21-Part 2

The “Check Clearing for the 21st Century Act” took effect on Oct. 28, 2004. Recall from last month's discussion that this act, also known as Check 21, is intended to allow for paperless processing of financial transactions.


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PVs Impact Building Operations

Photovoltaic (PV) modules convert sunlight directly into electrical energy. Integrating PV into a building will impact its operation. Not only will the PV system produce electric energy to serve building loads but it can also reduce the building's electric demand and air-conditioning heat load.


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Building Commissioning: On the Whole

“The basic purpose of building commissioning is to provide documented confirmation that building systems function in compliance with criteria set forth in the Project Documents to satisfy the owner's operational needs.


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Improving the Procurement Process

The construction procurement process is flawed. While this is not news, what can contractors and estimators do about it? The root of the problem really starts at a project's conception.


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