PRESIDENT'S MESSAGE
Cost Escalation and how the STA is fighting for Relief
I don’t need to tell any of our members that cost escalation is putting one of the hardest burdens on subcontractors in recent history. Construction costs have risen 8% in the last year alone. It is an unsustainable fact of doing business right now. This is the one issue that leadership has constantly been hearing about from our members in the past year.
| |
|
ANTHONY ACERRA
Principal, ACL Steel
President, STA Board of Directors
| |
EXECUTIVE DIRECTOR'S MESSAGE
Reaching Out to Our
STA Membership
As the summer turns to autumn in these next few weeks, look for some new programs and events for our STA members. On September 21, the STA and SMACNA/LI will be holding a “meet and greet” breakfast for our Long Island members at the Long Island offices of Grassi & Co.
| |
|
HANK KITA
STA Executive Director
| |
|
ANDREW RICHARD
Co-Managing Partner(LI), Kaufman Dolowich Voluck,
Attorneys at Law
Legal Counsel, STA
| |
Direct & Indirect Damages:
What is the Difference?
| There are really two types of damages for a breach of a construction contract, direct damages and indirect damages. Direct damages are those that flow naturally and necessarily from the breach and compensate for the loss that is presumed to have been foreseen or contemplated by the parties because of the breach. Examples of direct damages include unpaid contract amounts due to a contractor, and costs incurred to repair defective work or complete the work of the contractor. | | |
|
|
|
2045 Lincoln Highway, Edison, NJ 08817
Contact: Robert Dolan
T: 833-508-3662 | E: rdolan@tenna.com
Resource & Asset Management Software
| | | |
|
|
|
1715 Washington Avenue, Bronx, NY 10457
Contact: Peter Toner
T: 860-559-5797 | E: peter.toner@nefcocorp.com
Supplier, Hanging Tools & Material
| | | | |
|
Are Pass-Through Entity Taxes Right for Construction Companies?
As the list of states enacting pass-through entity taxes (PTET) continues to grow and the possibility of electing into multiple regimes becomes an option, many considerations should be reviewed to ensure these taxes achieve the benefits your company seeks.
Read More
| | |
Contact Samantha Sweeney-Annarumma at ssweeney@stanyc.com to be featured on STA's LinkedIn with a member profile! | | |
|
STA Partners with Mutual of America for STA 401(k) Program
The association is pleased to announce our newest benefit for STA members. We have entered into a multiple employer 401(k) plan (MEP) agreement with Mutual of America Financial Group. The Association chose Mutual of America because of their extensive experience with 401(k) plans, their focus on employee education, and salaried (not “commission-based”) account representatives who are committed to providing excellent customer service.
Click here for more information!
| | |
|
Mark Your Calendars for These
Upcoming Meetings and Events
| |
STA SEPTEMBER BOARD OF DIRECTORS MEETING | |
|
Tuesday, September 13, 5:30 pm
STA offices, 1325 Avenue of the Americas,
10 Floor, New York, NY 10019
| |
STA BREAKFAST MEETING ON LONG ISLAND | |
|
Wednesday, September 21, 9am-10:30am
Grassi & Co. offices, 50 Jericho Quadrangle,
Jericho, NY 11753
Free for STA members, breakfast provided, email ssweeney@stanyc.com to register.
| |
STA FALL GENERAL MEMBERSHIP MEETING | |
What Do You Do?
A Guide for Subcontractors to Manage Contracts, Preserve Claims and Reduce Project Risk
| |
|
Tuesday, October 18, 5:30 pm
Club 101, 101 Park Avenue
STA October Board of Directors Meeting from
3:30 pm-5:30 pm at Club 101
| |
STA NOVEMBER BOARD OF DIRECTORS MEETING | |
|
Wednesday, November 9, 5:30 pm
STA offices, 1325 Avenue of the Americas,
10 Floor, New York, NY 10019
| |
SOCIAL SIDE OF INFRASTRUCTURE & STA HOLIDAY PARTY | |
|
Thursday, December 8, 2022, 4:30 pm
CohnReznick offices, 1301 Avenue of the Americas, 10 Floor, New York, NY 10019
Food & Refreshments will be provided. Free for STA members. Email ssweeney@stanyc.com to register.
| |
Construction group fights higher fines for worker deaths | |
A five-year-old bill to increase fines related to the deaths of construction workers is waiting for the governor’s signature after a compromise between developers and labor unions, but not every stakeholder is on board. | | |
Mayor Adams Announces Major Investment in NYC Workers and Employers, new Approach to Talent and Workforce Development with $18.6 Million Federal Grant | |
New York City Mayor Eric Adams today announced the launch of New York City Pathways to Industrial and Construction Careers (PINCC), an innovative new talent development initiative that will help place nearly 2,300 low-income New Yorkers on the trajectory to careers in two high-growth sectors of the city’s economy over the next three years | | | | | |
