"Success is not final, failure is not fatal: It is the courage to continue that counts."

— Winston Churchill

There's this amazing quote by Winston Churchill that perfectly captures the spirit of Richard Branson. You see, Branson has faced countless moments where people told him his ventures were doomed. But instead of letting those setbacks bring him down, he's learned to embrace them as valuable lessons. His mom always taught him not to dwell on the past, and he's carried that mindset into his business career. Even when things haven't gone according to plan, Branson and his team have always looked for new opportunities, always on the lookout for the next big thing. As Branson himself puts it, "Business opportunities are like buses, there's always another one coming." It's truly inspiring to see how many people within our businesses have been through similar challenges. Some have been crushed by their failures and never tried again, thinking they're just not cut out for greatness. But the smartest business owners understand that without failures, there can be no successes. They appreciate and support those brave individuals who take risks and pour their hearts into promoting something they believe will be great for the company. The highest praise is reserved for those workers who keep striving for success, undeterred by any past failures.

— Wayne Jensen

Presented by: Wannemacher Jensen Architects, Inc.

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You can go after the job you want...and get it! You can take the job you have...and improve it! You can take any situation you're in...and make it work for you!

IN THE NEWS

Tips from 3 of construction’s best places to work

PCL and Shawmut said their employee-owned status helped them make Fortune’s list, while Suffolk advised them to “sweat the small stuff.”

Les Hiscoe, CEO of Shawmut Design and Construction, takes pride in the buildings he has worked on in New York City. He enjoys watching buildings under construction from his apartment and shares this experience with his son. Hiscoe believes that the physical results of labor contribute to job satisfaction. Shawmut recently ranked second in Fortune magazine's Best Workplaces in Construction, with 95% of employees stating that it is a great place to work. Other construction-related businesses on the list include PCL, Hilti, Moss Construction Management, Toll Brothers, Southland, and Suffolk. Hiscoe and other company leaders emphasize the importance of employee ownership and investing in company culture. They believe in giving employees a voice and creating a positive work environment. However, the construction industry still faces challenges, such as a high suicide rate and mental health issues. Hiscoe and Brown stress the need for caring and addressing these problems within the industry.

Israel-Hamas war spawns workplace harassment, discrimination fears

How companies respond may depend on the nature of an infraction, but front-line managers should not make disciplinary decisions alone, an attorney said.

Amid the Israel-Hamas war, global employers have closed offices and asked employees to work from home. HR professionals are addressing workplace harassment and discrimination concerns. Jonathan Segal, partner at Duane Morris, received calls from employers on these topics. Managers should anticipate harassment and take corrective action. HR departments should be involved in disciplinary decisions. Employers may revisit anti-harassment policies. Some firms have already taken disciplinary actions. Federal regulators are offering resources to address harassment. SHRM asks HR professionals to lead with civility and offers resources on navigating crises. Employers can extend resources to affected workers and consider assisting humanitarian organizations. Kindness and allyship can aid educational efforts.

JCB to build $265M machinery plant in San Antonio

The Texas site will be the heavy equipment maker’s second facility in North America.

JCB will invest $265 million to build a second manufacturing facility in San Antonio. Construction will begin next year and create over 1,500 jobs. This will be JCB's second plant in North America, with their first facility located in Savannah, Georgia. The San Antonio facility will produce machines for customers in North America. The company chose San Antonio due to its access to ports and transportation hubs. JCB operates 22 factories worldwide, including in the UK, India, Brazil, and China. The growth in North America has been extensive, according to JCB North America's President and CEO.

Construction takes a bigger bite out of the Big Apple

Building expenditures in New York City will jump 10% above pre-pandemic levels by the end of 2023 to reach $83 billion, according to a new report.

Construction spending in New York City is projected to reach $83 billion by the end of 2023, a $13 billion increase from last year and a 10% jump from pre-pandemic levels, according to a report from the New York Building Congress. The growth is driven by various sectors including manufacturing, institutional, retail, hotel, and office projects. Nonresidential work will make up nearly 42% of total construction spending in 2023 and is expected to reach almost $115 billion between 2023 and 2025, a 32% increase compared to pre-pandemic years. Despite challenges in the commercial real estate industry, the long-term growth and success of the construction industry in New York City are still anticipated. Nonresidential construction continues to lead spending, with the federal government's investment in infrastructure and resilient sectors like healthcare, life sciences, manufacturing, data centers, and transportation creating opportunities. Government spending in New York City will increase in the short term but is projected to decline in the future due to uncertainty about multi-year capital plans. Residential spending, on the other hand, is expected to decline, with a significant drop in new housing construction permits. However, federal funding packages are expected to boost spending on public projects in the city. Government spending on infrastructure development is likely to dominate the construction market, with several projects already identified for repair and expansion.

Group calls for more Black Prime contractors

Construction CEO Deryl McKissak, whose ancestor started a building firm after being freed from slavery, founded AEC Unites with leaders from Turner and Jacobs.

Executives from prominent building firms met in Washington, D.C., on Oct. 3 to launch AEC Unites, an initiative aimed at increasing the number of Black workers in the AEC field and supporting Black-owned firms. The organization will provide resources and opportunities for Black talent, including a database of Black-owned businesses and a playbook for large contractors to work with Black firms. AEC Unites has gained support from industry leaders and plans to create partnerships with historically Black colleges and universities. The group also has the support of the Biden administration, which is focused on distributing funding for infrastructure projects to underrepresented communities. AEC Unites is distinct from other diversity initiatives in the industry and specifically targets Black contractors.

DRIVE PROFIT

Lendlease expands US military housing portfolio

The company will break ground on the Army’s first new privatized housing project in 13 years.

Lendlease, an Australian-based real estate manager and developer, will begin construction on the U.S. Army's first new privatized housing project in 13 years. This project is part of a larger acquisition that includes ground leases across seven Army installations. The Cadence Communities portfolio consists of 345 existing family units, 475 new homes, and 60 apartment units. This move aligns with Lendlease's shift towards less risky investment strategies due to the impact of the COVID-19 pandemic on their profits. The company plans to halt builds for external projects below AU$150 million and apartments for sale to third parties. The Army installations newly managed by Lendlease include Fort Buchanan, Fort Hunter Liggett, Fort McCoy, U.S. Southern Command, Rock Island Arsenal, Soldier Systems Center, and Tobyhanna Army Depot. In late 2023, Lendlease will also begin construction on housing in Doral for SOUTHCOM personnel, providing more affordable options in an area with a high cost of living. The Cadence Communities portfolio will also include 17 new family units under construction in Fort Buchanan. Lendlease will manage these units upon completion. The company will also seek operational efficiencies and improvements for residents at the other Army installations in the portfolio.

DIRECTION OF THE BUSINESS

Greenwashing growing in frequency, complexity

“Social washing,” which is when companies make misleading claims of conduct on social issues, is also on the rise, according to a new report.

Companies engaging in greenwashing accounted for 25% of climate-linked risk incidents from September 2022 to September 2023, up from 20% the previous year, according to RepRisk. The report found that greenwashing increased by 35% overall last year, with a 70% increase in the financial services and banking sectors. Additionally, 18% of companies and 31% of public companies that engaged in greenwashing also made misleading social claims. RepRisk identified rising and more complex greenwashing risks in Europe and North America, as companies seek to appear more sustainable through certificates and pledges. The report also highlighted the concentration of greenwashing in the financial and banking sectors, particularly related to fossil fuel financing. Companies engaging in greenwashing have faced heightened public criticism instead of praise. RepRisk CEO Philipp Aeby emphasized the need for transparent data to assess environmental and social risks. The report also documented instances of social washing, where a business' image contradicts its actual conduct on social issues. The SEC recently updated the Investment Company Act's "Names Rule" to address misleading communications from the investment sector.