Electical Contractor

Last month, we introduced the NECA Financial Performance Report (FPR) and began reviewing the data within it. Let’s continue with some additional measures of profitability.

You may know accountants follow generally accepted accounting principles (GAAP), but you may not know how the GAAP evolved.

You might have heard horror stories of partnerships ruining companies. That is why most electrical contracting companies are officially organized as corporations, not partnerships. However, corporations may be surprised to find a silent partner at the end of the day.

Part 1 of this series outlinedsome possible reasons for deciding to sell your business, the concept of fair market value and some factors that will influence the potential value of your company in a sale.

Sell the product: your company Every time you sell a project to an owner, that owner is investing in you and your company.

According to the Los Angeles Times, California Utilities and Commerce Committee approved legislation that would prohibit the sale of incandescent light bulbs by 2012. The committee passed AB 722 in a 7–2 vote.

Roger Langer of Langer Electric Service Co., Miami, has been thinking green for years, and its about more than just money. Langer has been thinking about the environment ever since his company started working on green buildings in his area a few years ago.

Making the Transfer

According to the most recent data from the United States Fire Administration, home electrical problems are responsible for an estimated 67,800 fires every year, resulting in 485 deaths, 2,300 injuries and more than $868 million in residential property loss. The U.S.