Masonry Magazine April 1987 Page. 29
Americans have financed retirement from the equity in their homes.
ACCOUNTANTS ARE URGING CONGRESS TO MAKE A CHANGE in the 1986 tax law, to ease a provision that would create a nightmare in meeting tax deadlines. The CPAs are deeply worried about a section in last year's Tax Reform Act, which requires partnerships, corporations and personal-service companies to make their fiscal years conform to the calendar year, starting in 1988. There are more than 2.5 million of such types of businesses in the country, and almost all of them will have to close their books at the end of a year.
SUBCONTRACTS
continued from page 20
those in A401 and on the general contract documents to the extent they were made available to you when bidding. At the very least, you could not be expected to perform for your bid under a subcontract containing exculpatory and payment language considerably more unfavorable than subcontract agreements you have been accustomed to entering in your area.
You might still prevent some grief, however, if you ask a general contractor for whom you have not previously worked what subcontract form he will expect you to sign if you are low bidder. If a contractor specifies in his bid request what subcontract you will be expected to sign, you should expect the doctrine of promissory estoppel to be invoked because now you know the terms and the risks involved.
In summary, it would appear that mason contractors and other specialty subcontractors are at a distinct disadvantage when it comes to signing a subcontract agreement. But there's no law that says you can't try to get a better subcontract. And there's no law that says you have to sign a subcontract if doing so would endanger the life of your company.
Reprinted with permission of the Electrical Contractor.
Expanded Shale Clay & Slate Institute
Installs New Officers for 1986-87
A. C. Ford, Jr., Solite Corp., Richmond, VA., was installed as president of the Expanded Shale Clay & Slate Institute at the group's recently held meeting at Lake Buena Vista, Fla.
Other officers installed were (top row, from left): Dennis G. Woolman, Buildex, Inc., Ottawa, Kans., treasurer: Harry C. Robinson, Rockville, Md., managing director: A. C. Ford, Jr.; W. W. Allen, Jr., Hydraulic Press Brick Co., Brooklyn, Ind., immediate past president.
(Bottom row, from left) Carsten Mortensen, Utelite Corp., Coalville, Utah, secretary; William H. Lane, Big River Industries, Baton Rouge, La., vice president, and Andrew F. Mackie, Buildex, Inc., Ottawa, Kans., technical direction chairman.