The AGC of America Specialty Contractors Council (SCC) presented "The Cash Flow Implications of Retention" on March 6 at AGC's 90th Annual Convention. Chair Doug Isaacs began the session with a presentation of the results of a retainage survey completed by over 1,000 AGC specialty contractors in late 2008 that highlights the cash flow challenges retention poses. Incoming chair of the SCC Jim Slack then introduced a document currently being drafted by the SCC intended to aid specialty contractors with retainage issues.
Four panelists spoke on retention from different perspectives: Eric Hedlund, general contractor; Dan O'Brien, specialty contractor; Mike Anderson, surety; and Phil Beck, legal. The panelists then answered questions, and attendees shared their own experiences with retention within their local markets. With this input and the information gathered from the survey, the SCC anticipates completing the draft retainage resource later this year.
For more information about the AGC of America SCC, please visit www.agc.org/SCC.
- Industry Priorities
- Education
- News
- Connect
- Benefits
- Events
- Shop