List and Sell Your Equipment  /  Dealer Login  /  Create Account

Local Contractor Earns $8M Bonus for Finishing Job Early

Mon June 01, 2020 - West Edition #12
Associated Press

(Caltrans photo)
(Caltrans photo)

A California construction firm earned an $8 million bonus for early completion of a highway overpass project.

Myers & Sons Construction LP was the prime contractor on a newly completed $37 million rebuild of the Alemany Boulevard overpass on Highway 101 in San Francisco, The San Francisco Chronicle reports.

The California Department of Transportation contract offered a bonus of $1 million for every day Myers finished ahead of the 18-day schedule, while Myers would pay back $1 million for each day the job went past the deadline.

The bonus had an $8 million cap and the work was completed in nine days.

"There are costs associated with speed so it's not all free money, but it does feel good to be able to deliver," said company Vice President Clint Myers Jr.

The Sacramento firm began the project in April rather than July because of a reduction in traffic caused by the coronavirus pandemic.

For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia and death. The vast majority of people recover.

Today's top stories

Proposed Rollback of NEPA Reforms Conflicts With Biden's Infrastructure Goals

Contractors Solve Logistical Challenges On Coastal Project

NCDOT Calls On Lane Construction to Improve I-440 With $365M Project

Integration of Topcon 3D-MC With Volvo Active Control Raises Bar in Excavation Precision

VIDEO: Junttan Unveils World's First Electric Pile Driving Rig

Ga. Bridge Collapse Leaves One Construction Worker Dead, Two Injured

Case to Host Live Virtual Event on Machine Control for Dozers, Motor Graders

VIDEO: Woods CRW Holds Two-Day Open House in Carlisle, Pa.


ceg-logo ceg-logo ceg-logo ceg-logo ceg-logo