Sources: GCP Applied Technologies Inc., Cambridge, Mass.; CP staff
GCP directors have adopted a stockholder rights plan and declared a dividend distribution of one preferred share purchase right on each outstanding share of company common stock. The move responds to large blocks of shares changing hands in recent weeks, netting one New York hedge fund sponsor, 40 North Management LLC, a 24.6 percent ownership stake.
Sources: USG Corp., Chicago; U.S. Chamber of Commerce, Washington, D.C.
Surveys behind the Q1 2019 USG + Chamber of Commerce Commercial Construction Index find that the labor shortage continues to pose major challenges to the industry, causing contractors to ask skilled workers to do more work (81 percent of respondents), struggle to meet deadlines (70 percent), increase costs for new work (63 percent), and reject new projects (40 percent).
Sources: U.S. Court of Appeals for Seventh Circuit, Chicago; Littler Mendelson P.C., San Francisco; CP staff
A federal appellate court recently determined that enforcement of a Grand Chute, Wis., sign ordinance prompting removal of a 12-ft. inflatable rat—staged on public right-of-way and targeting a masonry contractor performing work at auto dealership—did not violate the First Amendment rights of Construction and General Laborers’ Union Local 330, Menasha, Wis.