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  • Bid Bonds from Subcontractors – Why Not?
    During the last couple of years and especially this year, subcontract failures are on the rise.  With work going to contractors that are bidding with little to no profit there is simply no room for a bid or execution error these days.  Unfortunately that is just a part of being in business and the impact of these errors can vary widely depending on...
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  • Margie Wager  Announcement
    KPS is pleased to announce that Margie Wager has joined the team at KPS Insurance Services, Inc.   Margie will be a strong asset to the KPS team and be responsible for the day to day needs of the clients...
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  • What will 2010 mean to the surety industry and your ability to secure bonds?
    Calendar year 2009 was indeed an interesting year for the construction community and no doubt, 2010 will be challenging as well with continued aggressive competition and increasing scrutiny from the surety community.   The following will provide our opinion as to what has gotten us to this point, what is in store for the surety community in 2010, and how you may actually be able to benefit from...
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  • Employee Stock Ownership Plan (ESOP)
    ESOPs can be an incredible corporate financial tool but, they are not for everyone.  Generally, ESOPs are most effective for companies that are profitable, tired of paying taxes to the government, have a market value of $2,000,000 or more and, employ 20 or more employees. ESOPs are a very tax efficient method of accomplishing certain corporate and...
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  • Financial Crisis Impact on the Construction Industry
    As most of us have experienced over the past year the financial crisis has had a significant impact on the construction industry.  With what seems like the demise of residential construction, a significant slowdown in commercial construction, and state budget issues impacting...
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  • Fraud and Embezzlement in the Small Business Environment
    We have all heard much about fraud in recent years as it relates to business. In the early 2000s, the news was filled with scandals involving fraud of various types. The mere mention of Enron and Worldcom, for example, is now virtually synonymous with the word fraud. Although these scandals... 
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  • Surety Industry Results for 2007 
    The surety industry recently published underwriting results for 2007.  As was generally expected the surety industry posted strong profits from underwriting this past year.  Direct losses incurred to direct premiums earned, called the net loss ratio, averaged 18.9% for the industry overall. 
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  • Looking back at 2007 with an eye toward 2008 
    Now that we have closed the file on 2007 and begin a new year, I thought this would be a good time share some observations from the past year.  Calendar year 2007 was an interesting year as backlogs were relatively strong, most construction firms were profitable, and the non-residential construction market continued to run strong.  However, 2007 also brought ...more

  • Are You Actively Managing Your Expenses?
    Times have been very good for the construction community over the recent past. With the exception of the real estate market, all phases of construction seem to be operating on all cylinders. This has resulted in strong profits for many companies. However, all good things eventually end ...more

  • Deferred Taxes – Potential Impact on Your Business and Surety Program
    Over the past several years the construction industry has been going strong with plentiful amounts of work available.  With this growth come the routine challenges of personnel, infrastructure, cash flow, etc…   While all of these challenges are items you see and face everyday, another challenge may be growing that you need to be aware of as well ...more

  • Position Your Business to Protect Your Estate and Carry Out Your Wishes
    I was recently involved in a situation where a close member of the family passed away unexpectedly. This family member did not have a plan in place with respect to final wishes, disposition of assets or many other aspects of his financial life. To say the process immediately following his passing was trying would be an understatement ...more

  • Pre-qualify Subcontractors – Things to Consider
    With the slow down in the residential market you likely have seen more competition on projects as well as a longer list of subcontractors looking to provide bids to general contractors.  With this new infusion of subcontractors to the commercial marketplace, are you, as a general contractor, being selective with regard to which subcontractor you will use?  As a subcontractor, are you trying to position your business to be a preferred subcontractor? ...more