NEW YORK – New York Attorney General Letitia James announced via press release that her office secured $125,000 from a contractor who skirted diversity requirements in the Rochester Schools Modernization Program (RSMP). The Pike Company, a construction company based in Rochester, falsely certified that it complied with state diversity requirements when it subcontracted the supply of materials to several minority and women owned businesses (MWBEs).
The Pike Company reportedly utilized non-MWBEs to procure those same materials. The Pike Company is one of ten contractors found by the Office of the Attorney General (OAG) to have violated the diversity requirements for the project to upgrade Rochester’s schools and is the most recent company to be held accountable for its violations. This agreement ends the years-long investigation into allegations of MWBE fraud in RSMP and brings the total damages and penalties secured to more than $1.3 million.
“Including minority and women-owned businesses in public projects is meant to give opportunities to communities that have been historically left out, not for contractors to work around them,” said James. “It’s a shame that the Pike Company and other contractors took the easy way out to minimize work with minority businesses. My office has no tolerance for companies that undermine the rule of law and cheat minority and women-owned businesses. I am committed to rooting out fraud and making sure that minority and women-owned businesses get their fair share.”
Giordano Appointed GM At Suffolk
NEW YORK, N.Y. – Suffolk, A building and real estate enterprise, has appointed Tom Giordano to the role of general manager of the New York Region. In this role, he will be responsible for supporting the company’s mission and vision, enhancing internal organization processes, and infrastructure, and driving future growth in the metro area.
“I have long admired Tom for his talent, his work ethic, and his passion for all aspects of the construction industry,” said John Fish, chairman and CEO of Suffolk Construction. “I am thrilled that he will be heading up our New York office and am confident that under his leadership we will accelerate our steady upward trajectory.”
“Suffolk is making a big investment to create a significant impact in the New York market, and I am excited to be able to lead the team working to realize that goal,” said Giordano, who also serves as a board member for Construction Super Conference (CSC).
“I truly believe that Suffolk, under John’s leadership, aims to be the best builder in the country. The company’s rapid growth in the metro area and its outside-the-box thinking when it comes to technology are a testament to that effort, and we are just getting started.”
Suffolk’s New York operation is responsible for construction projects in the metro area, including Quay Tower and The Landing at Brooklyn Bridge Park, 640 Columbia Red Hook Logistics, Summit NYC at 222 East 44th St., multiple projects for New York University, and Hudson Exchange West in Jersey City, among others.
Prior to joining Suffolk, Giordano was the senior vice president and general counsel at Lendlease Construction Holdings, a national construction management company. He served on the company’s executive committee responsible for overseeing all commercial and strategic aspects of the business.
New Tax Proposals From Biden
WASHINGTON, D.C. – A press release from the U.S. Department of the Treasury Department reported that Joe Biden recently released the FY2023 Budget to propose “critical investments that will prioritize security at home and abroad, bolster the economy, promote health, tackle climate change, and further opportunity for all.”
Alongside the Budget, today, the U.S. Department of the Treasury released a document to explain the Administration’s revenue proposals included in the budget – the General Explanations of the Administration’s FY2023 Revenue Proposals, or “Greenbook.” The Greenbook further describes revenue measures in the FY2023 Budget including:
• reform business and international taxation;
• raise the corporate income tax rate to 28 percent;
• adopt the undertaxed profits rule;
• provide tax incentives for locating jobs and business activity in the united states and remove tax; deductions for shipping jobs overseas;
• prevent basis shifting by related parties through partnerships;
• conform definition of “control” with corporate affiliation test;
• expand access to retroactive qualified electing fund elections; and
• expand the definition of foreign business entity to include taxable units.