“Success consists of going from failure to failure without loss of enthusiasm.”

– Winston Churchill

There are so many inspiring quotes out there from famous people, like Winston Churchill, about success. Sometimes, it's hard for us "regular folks" to fully grasp their meaning. I mean, Churchill is a legend, so how can his experiences relate to ours? But here's the thing: success means something different to every one of us, just like failure does. It's all about our unique perspectives. So, when Churchill talks about success, he emphasizes the importance of not losing enthusiasm along the way. That's the key! It's about staying focused on what truly matters in life.

— Wayne Jensen

Presented by: Wannemacher Jensen Architects, Inc.

DIG INTO THIS ONE

When Michael Lewis first met him, Sam Bankman-Fried was the world’s youngest billionaire and crypto’s Gatsby. CEOs, celebrities, and leaders of small countries all vied for his time and cash after he catapulted, practically overnight, onto the Forbes billionaire list. Who was this rumpled guy in cargo shorts and limp white socks, whose eyes twitched across Zoom meetings as he played video games on the side?

IN THE NEWS

5 powerful Strategies to Enhance Construction DEI

As Construction Inclusion Week wraps, one CEO says some companies may overlook the importance of diversity, but the business case for it is compelling.

Jim Fowler is the CEO of Novo Construction, a minority business enterprise and commercial contractor based in Menlo Park, California. The construction industry lacks diversity, equity, and inclusion, but the business case for it is strong. A 2020 McKinsey study found that companies with diverse workforces are more likely to outperform the industry average financially. As the CEO of Novo Construction, I have prioritized diversity and inclusion, which has contributed to our growth. We started with a small team and now employ over 300 individuals. Pursuing diversity requires effort, but the rewards are worth it. Here are five suggestions for succeeding in DEI efforts: articulate your purpose, prioritize diverse collaborations, champion education, and responsibility, leverage employee resource groups and mentorship, and promote diversity beyond your immediate team.

Turner emerged victorious, securing the prestigious $186 million contract for the groundbreaking healthcare tower project in New York

The five-story facility, funded by tax-exempt bonds, will house 96 hospital beds.

Turner Construction has won a $186 million contract to build a five-story patient care tower at Westchester Medical Center in Valhalla, New York. The tower will provide 96 additional hospital beds for trauma, neuroscience, cardiology, and general surgery patients, as well as improved training for medical residents and students. All inpatient rooms will be private, and ICU rooms will have windows for natural light. The project, funded by $195 million in bond financing, will create 250 construction jobs and 127 full-time jobs. Construction is scheduled to begin at the end of the year, with the facility opening in 2026.

Granite dominates with an impressive trifecta of highway victories, securing a staggering $78 million in combined contracts

Awards: State Highway 288 and I-5
Value: $40 million, $38 million
Location: Houston and California
Clients: Texas DOT, California DOT

Granite Construction has secured three more highway contracts as part of its back-to-basics approach. The California-based contractor won a $40 million project on State Highway 288 in Houston and two contracts on I-5 in California worth a combined $38 million. These contracts demonstrate Granite's shift towards pursuing smaller, less risky jobs. The company's change in approach came after an investigation by the Securities and Exchange Commission, leading to restated financials. The contracts also align with Granite's "home market strategy" and will utilize materials from its Coalinga Quarry and Hot Plant in California. In Texas, the SH 288 contract will focus on subcontractor and supplier relationships. The company's emphasis on its materials division will help manage the volatility of oil prices and supply chain issues.

CBNA and Halmar secured an $819 million contract for the Potomac River Tunnel project, solidifying their position as industry leaders

Both construction firms expect to begin work next year and complete the 5.5-mile-long tunnel in early 2030.

Award: Potomac River Tunnel
Value: $819 million
Location: Washington, D.C.
Client: District of Columbia Water and Sewer Authority

The District of Columbia Water and Sewer Authority has approved an $819 million contract for the construction of the Potomac River Tunnel. The tunnel is part of the $2.99 billion Clean Rivers Project, which aims to improve water quality in the area. Construction will begin in 2024 and is expected to be completed by 2030. The tunnel will reduce sewer overflows into the Potomac River by 93% in an average year of rainfall. The Clean Rivers Project is a program to reduce sewer overflows into the district's waterways.

Simpson Manufacturing hit by cyberattack

The owner of construction fasteners supplier Simpson Strong-Tie revealed the incident in a Securities and Exchange Commission filing on Oct. 11.

Pleasanton, California-based Simpson Manufacturing Co. experienced a cyberattack, causing a shutdown of certain systems. The incident was discovered on Oct. 10 and is expected to disrupt parts of the company's operations. Simpson has hired cybersecurity experts to aid in the investigation and recovery efforts. The nature and scope of the breach are still being assessed. Simpson caters to various segments of the industry and had consolidated net sales of $2.12 billion last year. This is the second construction-related company to experience a cybersecurity incident recently. Builders Mutual Insurance Co. was also targeted in a hack affecting personal information.

DRIVE PROFIT

New construction technology releases: Fall 2023

New automated and AI-driven software solutions offer advanced mapping, management, reporting, and real-time data collection tools.

New technologies for contractors have been released this fall. Leica Geosystems has introduced the Leica BLK2FLY, an unmanned aerial vehicle that can scan inside small structures. It uses Leica lenses, LiDAR autonomous navigation, and SLAM technology to create 3D digital scans. The BLK2FLY has improved obstacle detection and can fill in mapping gaps. Bluon has developed MasterMechanic, an AI troubleshooting tool for HVAC technicians. It provides instant responses to questions about HVAC systems and offers detailed instructions and recommendations. Beck Technology has partnered with Togal.AI to integrate machine learning into its Destini Estimator tool, allowing for faster and more accurate construction estimates. The National Utility Contractors Association has updated its NUCA-WINS job site reporting app, offering more tools and customization options for incident documentation.

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