Wealth Management
Top stories summarized by our editors
3/1/2017

Public-private road projects that rely on tolls are not practical in rural areas where traffic is insufficient to generate necessary returns. Availability payments, in which governments pay based on the quality and availability of a privately built road, can be an alternative to tolls.

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The Hill
3/1/2017

Australian construction is undergoing a transformation, driven largely by big data and digitization. These changes provide underwriters ratings of buildings' performance and impairment.

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Sourceable
3/1/2017

The Labor Department incorrectly estimated how long it would take for advisors and annuity providers to become compliant with its new fiduciary rule, says Lee Covington, senior vice president and general counsel of the Insured Retirement Institute. "IRI supports a best-interest standard of care, but Congress is the right place for this debate to be held," Covington says.

3/1/2017

Little difference exists with regard to retirement concerns among people who identify as Republicans and those who describe themselves as Democrats, a survey finds. Greenwald & Associates says 76% of Republicans and 78% of Democrats reported concerns about the economy hindering them from reaching a secure retirement.

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Greenwald & Associates
3/1/2017

St. Louis Federal Reserve Bank President James Bullard said he "wouldn't see any reason to be especially aggressive" with interest rate hikes given his forecast of 2% annual growth and inflation. However, his New York counterpart, William Dudley, has said that the case for a rate increase is becoming more compelling.

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MarketWatch
3/1/2017

It takes time to develop a strong advisor-client relationship, and this applies to digital marketing strategies, too. Experts offer advice on how to go about the development process, pointing out that an advisor's online presence has to be more than just a web-based brochure and that engagement, plus a constant flow of genuinely useful, relevant information can reap substantial rewards.

3/1/2017

A contractor on a middle school project and its surety are asking a West Virginia court to throw out a breach-of-contract lawsuit. They allege the school district failed to follow procedures in the contract and did not sue in a timely manner.

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West Virginia Record
3/1/2017

The Environmental Protection Agency has postponed for four months consideration of a proposal that would require hard-rock miners to back up cleanup liability with a surety bond or a self-insured corporate guarantee. The move extends the comment period on the rule, which a court order requires to be finalized in December.

3/1/2017

A subcontractor has a few options when facing one-sided risk-shifting provisions that benefit the prime contractor: Renegotiate contract terms, seek a larger contingency for schedule risk, accept the bigger risk or reject the work, an attorney writes. He describes how the ConsensusDocs 750 subcontract seeks to balance risk to parties best able to control it.

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Lexology
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prime contractor, ConsensusDocs
3/1/2017

A federal appeals court has decided general contractors and top-tier subcontractors can be held liable for Fair Labor Standards Act violations by lower-tier subcontractors, especially if higher-level contractors exert a fair amount of control over lower-tier subcontractors. The ruling introduces potential wage-and-hour issues, including claims from subcontractors for overtime pay, an attorney writes.

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JDSupra.com
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Federal court