<p><a href="https://www.smacna.org/images/default-source/2019/lamar-rutherford-398x440.jpg?sfvrsn=8eb5c8a5_0"><span class="captioned"><img src="https://www.smacna.org/images/default-source/2019/lamar-rutherford-398x440.tmb-medium.jpg?sfvrsn=8eb5c8a5_1" data-displaymode="Thumbnail" alt="Lamar Rutherford 398x440" title="Lamar Rutherford" style="float: right; margin-left: 12px;" data-openoriginalimageonclick="true" /></span></a>Twenty-eight SMACNA members from across the nation recently traveled to Seattle, WA to take part in SMACNA&rsquo;s inaugural Planning Your Exit and Business Valuation Program. The program was led by John Ovrom and Lamar Rutherford of Exit Consulting Group.</p> <p>This highly informative two-day program began with a meet and greet reception the night before the program officially began. This allowed all of the program attendees to meet with the instructors and mentors prior to the start of the program. </p> <p>The first day&rsquo;s morning session was devoted to business readiness. Mrs. Rutherford led a discussion on common mistakes current owners make when planning to sell their business. Attendees learned how these common mistakes can impact a company&rsquo;s value and how they are time consuming when preparing to sell. </p> <p>John Ovrom led a discussion on evaluating assessment areas involved with selling a business. These categories included: planning, leadership, sales, marketing, people, operations, finance, and legal/IP. Mr. Ovrom emphasized the more technology you have invested in, the more valuable your business. </p> <p><a href="https://www.smacna.org/images/default-source/2019/succession-planning-program-400x250.jpg?sfvrsn=fdb5c8a5_0"><span class="captioned"><img src="https://www.smacna.org/images/default-source/2019/succession-planning-program-400x250.tmb-medium.jpg?sfvrsn=fdb5c8a5_1" data-displaymode="Thumbnail" alt="Succession Planning Program 400x250" title="Kevin Yearout, Richard Cramer Sr., Joe Isom and Richard Blum" style="float: left; margin-right: 12px;" data-openoriginalimageonclick="true" /></span></a> </p> <p>On Monday afternoon Ovrom discussed common ownership readiness issues and how these issues can impact the value of a business. Issues to consider include defining the win for each owner, timing, financial ability and emotional readiness.</p> <p>Attendees enjoyed a networking reception and panel discussion on Monday evening. The panelists included four SMACNA contractors (mentors) that already went through the succession process. The mentors shared their experiences with successes, failures, best practices, and lessons learned during their exiting process.</p> <p>On day two Mr. Ovrom discussed market readiness with regard to family owned vs. professionally owned vs. family/professionally owned.&nbsp; The participants discussed the strengths, weaknesses, opportunities and threats to consider when determining market readiness. Ovrom also discussed the different types of buyers. These included inside buyers (family or management) and outside buyers.</p> <p>Rutherford then discussed detailed steps to determine the valuation of a business. These steps include EBITDA calculations and after-tax calculations (sales price and transactions costs). She then discussed what should be included in the Term Sheet, i.e. agreed upon pricing, funding, consultant agreement, asset/liabilities list, contingencies and fees/expenses. </p> <p>The program concluded with complimentary one-on-one appointments for attendees to meet with Mr. Ovrom or Mrs. Rutherford to begin development of their personalized succession plan.</p> <p>All-in-all this program was extremely well received and will be held once again in 2020.</p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p>For information on the 2020 Planning Your Exit and Business Valuation Program, please contact Bridgette Bienacker at <a href="mailto:bbienacker@smacna.org?subject=Future Succession Planning Program Information">bbienacker@smacna.org</a>.</p>

<a href="https://www.smacna.org/images/default-source/2019/bowman-350x447.jpg?sfvrsn=25c8c8a5_0"><img src="https://www.smacna.org/images/default-source/2019/bowman-350x447.tmb-medium.jpg?sfvrsn=25c8c8a5_1" data-displaymode="Thumbnail" alt="Bowman 350x447" title="Jay Bowman" style="float: right; margin-left: 12px;" data-openoriginalimageonclick="true" /></a> <p>The United States has witnessed significant reinvestment in industrial facilities in recent years, creating expanded opportunities for all stakeholders. At the 2019 Industrial Contractors Forum, Jay Bowman, Managing Director of FMI Corporation, will present FMI&rsquo;s outlook for the U.S. industrial sector. He will focus on spending forecasts and the trends that most influence demand for construction services. </p> <p> </p> <p> </p> <p>Held at SMACNA&rsquo;s 2019 Annual Convention, October 20-23, 2019, in Austin, Texas, this session will offer a comprehensive exploration into the future opportunities the industrial sector offers. Bowman will discuss FMI&rsquo;s research and how it sets the foundation for further assessing the opportunities available in industrial ventilation. </p> <p> </p> <p>As a principal with FMI, Bowman assists a broad range of stakeholders in the construction industry with the identification and assessment of the risks influencing the strategical and tactical decisions they face. Bowman&rsquo;s primary responsibilities include research design and interpretation.</p> <p> </p> <p>Following the presentation, there will be an open discussion led by members of SMACNA&rsquo;s Industrial Council Steering Committee. Topics to be addressed include the use of BIM&nbsp;and project delivery methods, the benefits of tracking and documenting uncompensated work, and identifying new work opportunities with existing clients.</p>

<a href="https://www.smacna.org/images/default-source/2019/dodgedataanalytics02-620x264.png?sfvrsn=6ac8c8a5_0"><img src="https://www.smacna.org/images/default-source/2019/dodgedataanalytics02-620x264.tmb-medium.png?sfvrsn=6ac8c8a5_1" data-displaymode="Thumbnail" alt="dodgeDataAnalytics02 620x264" title="dodgeDataAnalytics02 620x264" style="float: right; margin-left: 12px;" data-openoriginalimageonclick="true" /></a> <p>SMACNA has partnered with Dodge Data &amp; Analytics to assist them with a new study on jobsite safety, and all SMACNA members are highly encouraged to <a href="http://selfserve.decipherinc.com/survey/selfserve/218d/190702?list=1&amp;listID=SMACNA#?"><strong>participate</strong></a>. </p> <p> </p> <p> </p> <p> </p> <p> </p> <p>This brief survey will track trends in safety culture and practices in the U.S. construction industry, and SMACNA will be using the results of this survey to enhance our safety agenda moving forward, so all responses will have a direct result in crafting future initiatives. </p> <p> </p> <p> </p> <p>As an added bonus, members who fully complete and submit their survey responses will have the option to have the SMACNA specific results report of the survey findings emailed directly to them.</p> <p> </p> <p>Take the survey <a href="http://selfserve.decipherinc.com/survey/selfserve/218d/190702?list=1&amp;listID=SMACNA#?"><strong>here</strong></a>.</p> <p> </p> <p>Please note that the above survey link is for SMACNA members only, and all individual responses will contribute to the national survey results. All survey responses are strictly confidential and will not be associated with any SMACNA member&rsquo;s name or the name of their company in any way.</p> <p> </p> <p> </p> <p> Survey responses will be combined with others and only presented as averages or percentages, or by visual means that cannot be linked back to individual answers. All survey responses are stored in a password protected database that can only be accessed by analysts at Dodge Data &amp; Analytics. Participation in this survey is completely voluntary.</p>

<p>In this episode of Let&rsquo;s Talk Shop, host Angie Simon, president, Western Allied Mechanical, talks with James Morgan, president and CEO of Worcester Air Conditioning in Ashland, Mass, about lean construction techniques. James and Angie reflect on some of the successful techniques they have used in their companies, including pull planning and Just-in-Time delivery.</p> <p>Listen to the episode on&nbsp;<a href="https://soundcloud.com/smacna/episode-6-lean-construction-with-james-morgan">Soundcloud</a>&nbsp;or&nbsp;<a href="https://podcasts.apple.com/us/podcast/lets-talk-shop/id1462173868">iTunes</a>.</p> <iframe scrolling="no" allow="autoplay" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/682854425&amp;color=%23ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true&amp;visual=true" width="100%" height="300" frameborder="no"></iframe>

<p><a href="https://www.smacna.org/images/default-source/2019/mike-hourigan.jpg?sfvrsn=dec8c8a5_0"><span class="captioned"><img src="https://www.smacna.org/images/default-source/2019/mike-hourigan.tmb-thumb200.jpg?sfvrsn=dec8c8a5_1" data-displaymode="Thumbnail" alt="mike-hourigan" title="Mike Hourigan" style="float: right; margin-left: 12px;" data-openoriginalimageonclick="true" /></span></a>SMACNA's <a href="https://www.smacna.org/events-education/registration/collective-bargaining-orientation"><strong>Collective Bargaining Orientation</strong></a> will now have a brand new one-and-a-half-day format for 2020, and all chapter executives and contractor members of negotiating committees are highly encouraged to attend this newly redesigned program.</p> <p> </p> <p> </p> <p>Taking place in Dallas, TX on March 24-25, 2020, the CBO will still provide chapter executives and contractors that are entering negotiations with:</p> <ul> <li>Basic legal advisement on collective bargaining in the construction industry</li> <li>Guidance on preparing to bargain</li> <li>Updates on industry settlements and trends</li> <li>Changes in the Standard Form of Union Agreement</li> </ul> <p>Newly added to the program will be an extended and enhanced session devoted completely to negotiation strategies facilitated by Mike Hourigan, CSP, President, Hourigan &amp; Associates. This addition to the program will allow all participants in this program to leave Dallas with a much better understanding of the bargaining process and the confidence needed to bargain effectively and efficiently. </p> <p> </p> <p> </p> <p>Learn more and register <a href="https://www.smacna.org/events-education/registration/collective-bargaining-orientation"><strong>here</strong></a>. </p>