New Crop of U.S. Acronyms Adds to Thistles and Tares in Language
In this time of economic crisis, the only thing we have to fear is … acronyms, suggests Louise Radnofsky in the Wall Street Journal (6/2/09). The New Deal gave the country the CCC, the TVA and the WPA. The waning days of the Bush administration produced TARP, for Troubled Asset Relief Program, also currently known as “the bailout.” The stimulus package, has brought to life the RAT Board, LUST Trust and ARPA-E. Government spending plans seem to result in a surplus of acronyms. For decades, generations of American history classes have wrestled with memorizing the Civilian Conservation Corps, the Tennessee Valley Authority and Works Progress Administration, later renamed the Work Projects Administration, and dozens of other acronym agencies created under President Franklin Delano Roosevelt, aka FDR.
The problem is, in this era of big government spending accompanied by promises of transparency, outbreaks of acronyms can be variously confusing, awkward and accidentally self-mocking. Continue reading »
FinancialStability.gov – US Treasury Invests $5.03B in MD/DC/VA Financial Institutions
FinancialStability.gov, was launched by the Treasury Department to allow the public to track the administration’s plans to fix the problems in the financial system – providing transparency and accountability into the Financial Stability Plan. Via the Troubled Asset Relief Program (TARP) Capital Assistance Program (CAP), as of March 2009, Treasury has made investments in banks in 48 states, the District of Columbia and Puerto Rico with investments ranging from as small as about $301,000 to as large as $25 billion. Financial institutions in the DC region have received $5.03B (VA $4.1B; MD $442.6M; DC$6.0M) (see interactive map).
FinancialStability.gov helps users navigate financial charts, common terms, contracts and statistics to better understand how complex financial problems affect the economy. According to FCW, Treasury Secretary Timothy Geithner has said the financial stability plan is “designed to attack our credit crisis on all fronts with our full arsenal of financial tools and the resources commensurate to the depth of the problem. FinancialStability.gov has some similarity to the administration’s Recovery.gov web site, which explains and tracks the funds authorized by the American Recovery and Reinvestment Act. For more information on Recovery.gov, see our 3/18/2009 posting, Stimulus Reporting Requirements Spawn Online Universe.
More “Insight” on Deltek Insight 2009 – Systems, Stimulus, Procurement Reform, and Compliance in one place
FedPoint is back reporting live from the conference floor at Deltek Insight 2009. What an amazing event – offering access to the most recent information and technology related to doing business with the Federal Government. Subjects and themes that have received a lot of attention throughout the conference include the “Brave New World of Compliance”, ethics requirements, Earned Value Management Systems, procurement reform, the American Recovery and Reinvestment Act, stimulus infrastructure opportunities, and the hot new market of “green” building.
As you might have guessed, one of the biggest successes of the conference is the new Stimulus track, which focuses on the myriad intricacies of the $789B stimulus package. Courses in this track address ways for contractors to maximize opportunities related to stimulus spending and provide great “insight” to contractors hoping to capitalize on this unprecedented recovery program. So, are you ready to face all these new challenges and opportunities? As a Deltek Partner, a Platinum Sponsor of Insight, and over 20 years of servicing the Federal Contracts market, Aronson & Company has the experience, dedication, and reputation to assist you through the Federal marketplace.
Aronson had several experts leading sessions at the conference including Bill Foote, who conducted a session entitled “FAS 141(R) - Business Combinations Revisited”. Other Aronson speakers were Nicole Mitchell, presenting “Getting your Financial House in Order” and Jan Zall and John Betz, who had overwhelming attendance at their session, “Multiple Companies and Deltek Costpoint”. Aronson was also privileged to have an Officer from the firm, Hope Lane, included in the expert panel, “Follow the Money: MTO & Transportation Focus”. Click here for descriptions of the Aronson-breakout session programs.
Reporting Live from Deltek Insight 2009!
A contingent from Aronson & Company is in Orlando, FL, this week for the 2009 Deltek Insight Conference. As a Deltek Partner and Platinum sponsor of the conference, Aronson’s participation includes leading four technical training sessions.
Insight is Deltek’s annual customer conference that focuses on helping users leverage their Deltek investment, network with industry colleagues on best practices, and hear about the latest industry trends, projections and product roadmaps. Recognizing the biggest industry trend, Deltek added a new track to the program to focus exclusively on the Recovery Act appropriately named “Stimulus & Beyond”. This forum, which bridges the General Contracting and government contracting communities, kicked off with a standing-room-only keynote address by Congressman Tom Davis, former U.S. Representative (R-VA). The Stimulus forum includes breakout sessions and expert panels (including participation by Aronson’s own Hope Lane) on a wide range of topics aimed at providing participants with information they need to find and win new Recovery Act projects.
“Despite tough economic times, attendees at the conference are expressing continued optimism for the future and their appreciation to Deltek for the strategic value it provides as they face business challenges” said Sangeeta Dworkin, Manager of Channel Sales with Deltek.
(pictured left to right) Steve Swales, Officer of Deltek Practice-Aronson & Company, Sangeeta Dworkin, Manager of Channel Sales-Deltek, and Kevin Parker, President and CEO-Deltek
Check back tomorrow for another live report from the conference floor at Deltek Insight 2009!
D.C. Works to Secure More Federal Stimulus Money for improvement efforts
The District of Columbia, having already disbursed more than half ($240 million) of the $436 million in stimulus funds allocated to it by the administration, is looking to secure even more of the competitively-available stimulus dollars. Find out how you can take advantage of these contractor opportunities in D.C. and federal government by visiting:
- District Procurement Websites for Priority Procurements (including a “Stimulus” procurement website)
- Utilize federal business intelligence tools such as FedMine to identify the procurement specialists at relevant federal agencies (free Fedmine trial available; subscribe with a 10% discount by mentioning Aronson)
- Contact small business specialists at various federal agency Offices of Small and Disadvantaged Business Utilization (OSDBU)
The Washington Business Journal reports the below D.C. and federal government agencies involved in these competitive opportunities. Continue reading »
National Small Business Week May 17-19, 2009
The three day event in Washington, D.C. will be full of awards, networking opportunities and different forums covering subjects from “Growing your Small Business: Lending, Government Procurement and International Trade” to “Hot Topics Effecting Small Businesses”
- Keynote by Karen G. Mills, Administrator of the SBA: The Future of Small Businesses and Vision of the SBA
- Financial Forum: Rebuilding Our Economy: How the Recovery Act Effects Your Business (also webcast!)
- Town Hall Meeting: Successful Business Strategies in a Down Economy
- Innovation Forum: Technology – Our Competitive Edge (also webcast!)
- Social Media Forum: Social Media, Transforming the Way You Do Business (also webcast!)
- Award Presentations (also webcast!)
- Networking receptions
- Cyber Cafe
Location Continue reading »
Ask FedPoint: Subcontracting on GSA Task Orders – IFF Responsibility
Dear FedPoint:
When a prime contractor is awarded a GSA Schedule Contract and subsequently receives a delivery call under the schedule, I understand that they are responsible for the IFF. Subsequently, if the prime subcontracts a portion of the order, my understanding is that he is still 100% responsible for the IFF and can either withhold the .75% from the subcontractor’s invoices, or have it “built-in” to the rate that he charges the Government above and beyond the cost of the subcontractor. Please clarify the validity of each of the approaches.
Lori
____________________________________________________________________________
Dear Lori:
Thanks for the great question! There are many situations to consider when determining whether or not IFF should be remitted for work performed by a subcontractor on a task order issued against a GSA Schedule contract. Four possible situations are identified below:
Federal Agencies Spending the Most Stimulus Dollars Right Now
If you live on this side of the Milky Way, chances are that you’ve heard the phrase “stimulus spending” more times than you can count. Well, in case you hadn’t heard, stimulus spending under the ARRA is underway and the projects being contracted under the Act are on accelerated implementation timeframes. This means that, for the most part, the government does not have time to solicit bids through full and open competition.
Instead, officials are choosing to issue task orders under existing GWACs, BPAs, and GSA Schedule Contracts. “But wait,” you might ask, “that isn’t fair government contracting is it? Isn’t part of the goal to help all businesses get a piece of the pie, not just the usual suspects?” As unstimulating as it may sound, the answer could be yes, maybe, or no, depending on which agency you ask (off the record, of course). Fairness aside, now is the time to have a streamlined contract vehicle, and if you don’t, it’s not too late to get one.
Right now, at the federal level, most of the spending is confined to a handful of agencies. If you want a chance of getting your piece of the stimulus pie, you have to go where the money is. So which agencies are issuing contracts for stimulus projects, which companies are winning that business, and which industry sectors are benefiting the most? Furthermore, how many of the successful contractors are small businesses? A partial list of the top agencies reporting the most stimulus-related spending is provided below:
General Services Administration ( Small Business =Less Than 1%)
Dept Of Agriculture (Small Business = close to 90%)
Social Security Administration ( Small Business = None …0%)
Veterans Affairs ( Small Business = over 95% …most of any Agency)
For questions regarding this information please write to Ashok Mehan at amehan@fedmine.us or visit www.fedmine.us to learn more.
2009 Congressional Procurement Conference and Expo – May 13th, Learn how to grow your government contracting business
Capture Your Share of $787 Billion in Stimulus Dollars and Record Procurement Spending!
Join Aronson Capital Partners and Aronson & Company in support of MCCC’s Government Contracting Network (GovConNet) for a special conference that will help you learn how to grow your government contracting business.
At the 2009 Congressional Procurement Conference and Expo, connect with 15 federal agencies, state and local procurement officials, and primes. Attend up to 30 workshops led by industry experts about procurement opportunities and resources. In addition, you will network with representatives from almost every industry sector at the Expo and reach more than 500 customers, suppliers and business leaders.
Cost: MCCC Member $95.00 / Non-Member $110.00
Date: May 13, 2009
Time: 8:30 AM – 3:30 PM (Registration at 7:30 AM)
Location:
The Universities of Shady Grove, Conference Center, Bldg. II
9630 Gudelsky Drive, Rockville, MD 20850
(301) 738-6069
More information: www.aronsoncompany.com or call 301.231.6219
Share this information colleagues, clients and business contacts by clicking here. Continue reading »
All GSA Schedule Contracts May Be Available for State/Local Stimulus Use
What is the easiest way for state and local governments to spend stimulus funds efficiently and quickly? Use a GSA schedule contract.
At the present time, only two GSA Schedules (70-IT and 84-LAW) allow state and local governments to regularly purchase products and services from GSA schedule contractors through the cooperative purchasing program.
Representative Edolphus Towns, D-NY, and Chairman of the House Oversight and Government Reform Committee, is introducing a bill in the next few weeks that will expand the cooperative purchasing program to allow states and local governments to use all GSA Schedule contracts when spending stimulus dollars.
States and local governments will receive a significant portion of the stimulus dollars and this potential expansion of the GSA Schedules program could be very lucrative for GSA and Schedule holders. We will be monitoring this legislation closely, so check back with us for the latest status.
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What We Are Writing
- A Marriage of Inconvenience: GSA Schedule Contracts & The Contractor Code of Business Ethics & Conduct Clause
- Emerging Small Businesses: To Grow Your Business, You Must Plan For Growth
- Government Contracting: Look Before You Leap!
- GSA Schedules – Strategies for Success
- New Employee vs. Independent Contractor Considerations
- Pay on Display – Understanding the Executive Compensation and Subcontractor Data Reporting Requirements & Ramifications
- The GSA Schedule: Your Ticket to the Federal Market (May 2010)
- The New FAR Codes of Conduct and Compliance Program Provisions
- The Seven Deadly Sins (of contract compliance)