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Tag Archives: construction

North entrance to Mississippi Capitol closed for a year

The north entrance of the Mississippi Capitol will be closed for the next year during the rebuilding of the second-floor terrace above it. The Department of Finance and Administration says the terrace is deteriorating from leaks. Officials announced Monday that the north lobby facing High Street is closing to rebuild the terrace with new structural supports and waterproof it. New ...

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SBA joint venture program allows small firm to get into the big leagues

By BECKY GILLETTE The Small Business Administration has a program to mentor small businesses though the 8(a) Business Development Program that provides assistance to firms that are owned and controlled at least 51 percent by socially and economically disadvantaged individuals. In addition to the 8(a) Business Development Mentor-Protégée Program (MPP), the SBA also has a joint venture program which may be ...

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Safety first for state’s construction firms

By NASH NUNNERY  From commercial to small-scale residential, construction sites can be dangerous. According to the U.S. Department of Labor’s Occupational Safety and Health Administration, roughly 150,000 job-site injuries occur nationwide each year. With 130 million construction workers on the job at any given time, this number is likely to rise. Of the construction site injuries that take place each year, ...

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Century Construction starts work on new professional office building at The Quorum at Colony Park

By BECKY GILLETTE Century Construction, a firm founded by Colin Maloney in Tupelo in 1997 as a two-employee, one truck-firm now employs more than 200 people at three locations in Mississippi, currently has $130-million worth of construction projects underway in several states. The firm now known Century Construction & Realty, Inc., has outgrown its current office space , and recently broke ...

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Women in Construction program provides with a way to make a living wage

By BECKY GILLETTE Single mothers without skills training or a college education have a tough time supporting their families. Poverty is greatest in households headed by single women. Many have to work two or three jobs at minimum wage, and even then aren’t able to provide for all their families’ needs. Providing women with a way to make a living wage ...

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CONSTRUCTION: Building an electric career with a 5-year training plan

By LISA MONTI Twenty-nine apprentices selected for the Jackson Electrical Joint Apprenticeship and Training Committee program attended their first class Aug. 15. “Hopefully, five years from now we will have all 29 finishing the program,” said Jim Stephens, the training director for the International Brotherhood of Electrical Workers or IBEW. The new trainees are among 90 apprentices taking part in ...

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Ex-senator sentenced for embezzling from construction loan

Former state Sen. Tommy Robertson has been sentenced to 10 years in prison, with two years to serve, for embezzling over $379,000 of a $484,000 construction loan that he was handling for a couple through Singing River Federal Credit Union. Special Judge Richard McKenzie also ordered Robertson to serve eight years under post-release supervision, fined him $1,000 and ordered him ...

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Construction projects’ topping out ceremonies celebrate important milestones

By LYNN LOFTON Major construction projects usually have topping out ceremonies at a certain point in the progress of the project. Is this merely ceremonial, or does it serve a more fundamental purpose? Some recent high profile projects that had topping out ceremonies include the Biloxi Shuckers baseball park, the new medical school at the University of Mississippi Medical Center in ...

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MDOT Roadeo is fun and games but public safety remains ultimate goal

By NASH NUNNERY There are no bucking broncos, Brahma bulls or cowboy clowns like a traditional rodeo but the competitive juices flow for heavy equipment operators at the Mississippi Department of Transportation’s aptly-named Roadeo. The annual contest and training event shows how MDOT employees maintain and enhance their daily operating skills while making sure their duties are performed safely. The ...

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COMMERCIAL FINANCE 701: Payment and performance bonds in construction projects

Construction lenders on large commercial construction loans customarily require payment and performance bonds.  At the loan commitment letter stage, this condition rarely concerns a borrower.  Later, however, when the requirement materializes into a line item in the contractor’s budget, the borrower might have second thoughts.  We attempt to define and appraise the payment and performance bond (P&P Bond). Let’s assume ...

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