logo
Plus   Neg
Share
Email
Comment

Granite Construction Gets Notice Of Default From Oregon DoT On US 20 Project

Granite Construction Inc. (GVA) announced that its joint venture, Yaquina River Contractors or "YRC", received a Notice of Default from the Oregon Department of Transportation or "ODOT" relating to the US 20 project.

Granite is confident it is not in default of its obligations under the contract and that the allegations contained in the Notice are without merit. The company will contest the Notice, Granite Construction said.

Granite has been in discussions with ODOT to address design issues and delays on the project due to unanticipated and continuing geotechnical conditions and landslide movement. Granite has been performing its duties under the contract including working with ODOT to determine how to safely and most cost-effectively complete the project.

In October 2011, a Dispute Review Board or "DRB" concluded that ODOT is responsible to pay YRC for the costs of the delay and new design and construction work required to address the ongoing landslide issues. ODOT rejected the DRB's findings and unilaterally disbanded the board.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
BlackRock Inc., the world's largest asset manager, said it plans to speak with gun makers and distributors following public outcry after the Florida high school shooting that killed 17 people. BlackRock, which had $6.3 trillion in assets under management as of December 31, 2017, holds shares in gun makers Sturm Ruger & Co. Inc. as well as American Outdoor Brands Corp. An upgraded boarding in Southwest Airline will cost you more. The airline usually not assign seats to passengers, but one can choose from an open seat. The Upgraded Boarding will allow passengers to choose from A1 - A15 boarding positions. The cost for these positions would be $30, $40 and $50, depending on flight and route. This option can be availed from the ticket counter or gate. Citigroup Inc.'s co-head of mergers and acquisitions, Peter Tague, is leaving the company, according to media reports, citing people familiar with the matter. Tague has been co-head of Global M&A business at Citigroup since March 2012, alongside Cary Kochman and Mark Shafir. It was not immediately clear what Tague intends to do after he leaves Citigroup.
comments powered by Disqus
Follow RTT