Duke Energy is Largest Utility in US
Duke Energy and Progress Energy are in the process of a $13.1 billion all-stock merger that would make Charlotte NC based Duke Energy the largest utility in the US. Duke will have more than seven million customers and 57.2 GW of electric generation. They will operate in the Carolinas, Indiana, Kentucky, Ohio and Florida. Duke is currently moving ahead with a plant modernization program in an effort to meet new EPA regulations.
OSHA News
The DoL and OSHA recently announced the withdrawal of some proposed changes to regulations. The DoL rescinded a proposal to require companies to keep better records about employee muscle sprains and strains. This move is considered a win for business groups who lobbied the Obama Administration to make no changes to the workplace rule. OSHA withdrew their proposed interpretation on "Provisions for Feasible Administrative or Engineering Controls of Occupational Controls" used in their noise standard. Their reinterpretation would have greatly impacted construction firms. OSHA has also announced that they will enforce existing standards to cover "green energy" type work in the construction industry. OSHA stated that this is in response to comments from the industry that construction standards do not apply to "green construction".
US Sen Brown Sponsors 1099 Filing Repeal
US Sen Scott Brown co-sponsored a Senate bill to repeal the 1099 tax form filing requirement for business. He was the third member of the MA Congressional Delegation to co-sponsor similar legislation. The Senate overwhelmingly voted to repeal the health care laws 1099 filing requirement. In the House, US Reps Tsongas and Frank signed on to similar bills, though no House vote has been taken. The new requirement, part of federal health care reform, requires business to file 1099 tax forms for every vendor that sells them more than $600 worth of goods or services.
Safety First, Despite Downturn
Though the past two years have been tough on the MA construction industry, jobsite safety remains at the forefront. While employers have made deep cuts in many areas of business, safety is not among them. Since 2006, jobsite fatalities in MA have maintained a steep decrease. Jobsite injuries have also declined over the same period of time. For larger firms it may seem less difficult to maintain resources to insure jobsite safety.
MCAA, Associations Oppose Davis-Bacon Repeal
Recently, a coalition of specialty trade association including MCAA, SMACNA and NECA opposed efforts by the US House of Representatives to repeal Davis - Bacon laws on Federal construction projects. They also called on Congress to repeal two tax rules and several proposed safety rules that prove burdensome to the construction industry. AGC and ABC supported repeal of Davis - Bacon laws for Federal construction.
Progress on 3% Withholding Repeal
MCAA continues to impress upon Congress the burden of 3% withholding on public construction contracts. They have also joined w/ MCA of Maryland to reach out to Maryland Gov Martin O'Malley for support on repeal efforts. Two repeal bills have been introduced in the Senate. DoD has commented that this measure would cost them $10 billion to implement. US Sens Scott Brown (R-MA) and Olympia Snow (R-ME) are co-sponsors of S 164. There are also efforts underway to attach 3% withholding repeal to the 1099 reporting repeal that recently passed in the Senate.
FASB Update
MCAA and their panel of experts continue efforts to stop proposed FASB disclosure regulations for unfunded liability. They also continue to gather support from other concerned business groups, banks and financial statement user groups. MCAA and the panel are working to form a Spring meeting with FASB to continue discussions on the issues.
Changes at Wentworth
Well known Wentworth Co-op Advisor Gerald Tang has accepted a new position as of February 18th. Gerald will move on to Columbira University as Assistant Director, Undergraduate Career Development. Replacing Gerald as Co-op Advisor will be Deborah Hunt. New England MCA / MSCA members maintained a great working relationship with Gerald by presenting students with co-op and internship opportunities in the mechanical contracting industry. We wish him well in his future endeavors.
