text black
Quick Links
 
    
 
 
 
  
Industry Resources
 
Buy, sell, or trade construction materials or services at The Builder Warehouse. 
 
 Follow data on new housing starts here.
 
Read Engineering News-Record here. 
 
Read Construction Claims Advisor here.
 
Review
Koncelik's Environmental Law Blog.
 
Review Green Builder magazine here.
 
Learn About the Greater Cleveland Green Building Coalition here.
 
Read Builders Exchange Magazine on-line here. 
 
Find valuable construction industry research from McGraw-Hill Construction here.
Construction Group Reference Materials
 
 
 
 
Join Our Mailing List
Reasons to Read
For contractors, I have highlighted articles relating to Federal project NLRB notice requirements and, proposed dramatic changes to revenue accounting methods. For those with an interest in the residential real estate market, I have provide an annotated bibliography of this month's news (most of it bad).  For everyone, there is news of health care reform implementation and alternative legal fee arrangements.  Bonus points if you check out the interesting article on increased investment in agricultural land.
 
mug shotAs always, I appreciate the time you have taken to review this e-newsletter.  Please feel free to contact me if you have any questions, comments, or suggestions for future articles.
 
Jim Dixon
216-515-1642
Accounting Rules for Revenues May Drastically Change
A proposed contract-based method of revenue recognition could dramatically impact many industries, and the construction industry in particular.  In an effort to make U.S. accounting rules similar to those used internationally, the the Financial Accounting Standards Board has proposed a performance-based method, where revenue is only recognized once contract performance is satisfied. Review this article from the accountants at Meaden & Moore to obtain more information.
Employers Must Act Fast for Credit for Early Retiree Health Benefits
One aspect of the recently enacted health care reform provides some fast-acting health plan sponsors with reimbursements for health care coverage for early retirees and their beneficiaries. Review this alert to learn more. 
Federal Project Contractors and Subs Must Now Post NLRB Notice
Implementation of an Obama-administration executive order began on June 21.  The order requires certain companies (those with federal contracts and their subs) to post a specific notice.  And, of course, there are consequences for failing to do so.  Review this 
alert to learn more.
Residential Real Estate Headlines
 
A summit on June 8 in Cleveland revealed continued pessimism about the region's market. 
 
Mortgage rates hit record lows in June.
 
Has the west coast finally made it through the storm?
 
Nationally, May data on residential construction activity and permit requests cause further pessimism. 
 
Not surprisingly, this buyers' market has encouraged buyers to become more selective and demanding. 
 
NAHB provides rosy summary of housing report from Harvard's Joint Center for Housing Study.
 
A review of the valuable information on real estate markets from the Census Bureau's American Communities Survey.
 
In California, it is bankers against realtors as the legislature considers strategic mortgage defaults and added protections for borrowers.
 
Farmland now a solid income-generating investment? 
Movement To Alternative Legal Fee Arrangements Continues to Gain Steam
My partner Neal Rains edited the most recent issue of ALFA International's Business Litigation newsletter, which focusses on the evolving use of alternative fee agreements in the legal profession ("alternative," as in "not based on the billable hour"). That issue provides an excellent overview of the reasons supporting use of such arrangements, related ethical issues, and how to prepare an agreement defining such an arrangement. 
Upcoming Seminars
We frequently lecture on a range of subjects at the offices of businesses, trade groups, and bar association groups.  If you are interested in providing training for your employees on specific legal issues, please feel free to contact me.  Otherwise, you can attend the following seminars offered by our various practice groups:
 
July 2, 2010:  Keith Ashmus will discuss health care reform at 8:30 PM on the Western Reserve PBS (Channel 45 or 49) program NEOtropolis.
 
October 15, 2010:  Fellow Construction Group member Ian Frank will be discussing Ohio's Prompt Payment Act as a part of a teleconference from 1:00 to 2:30 PM.  More information to come once the sponsor (Lorman) posts a link.
 
December 16, 2010: Brett Bacon will lecture on Federal Court Practice.  More information to come once the sponsor (NBI) posts a link.
Disclaimer
This document is intended to provide general information about legal developments, not legal advice. Receipt of this information does not create an attorney-client relationship.