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PKF O’Connor Davies Publishes 20th Annual Architectural and Engineering Studies

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Reports provide industry benchmarking data, trends and insights impacting firm profitability and productivity

NEW YORK, Nov. 1, 2024 /PRNewswire-PRWeb/ — PKF O’Connor Davies, one of the nation’s largest accounting, tax and advisory practices, today announced the release of its 20th Annual Architectural and Engineering Studies. Based on 2023 financial and operational data provided by a sample of participating architectural and engineering (A&E) firms, the studies reflect the state of the industry and enable firms to benchmark their performance against others as they seek ongoing profitability and growth.

For the first time, the studies provide a historical perspective, highlighting key milestones and industry trends that have shaped the A&E landscape over the past two decades. They also include firms’ current and future use of artificial intelligence, as well as expert insights on emerging trends. The studies present several key takeaways for the A&E industry, including:

During 2023, profit as a percentage of net fee income reached its highest level in the past five years.Firms’ billing multiple increased slightly as they continued their focus on project management efficiencies.Firms’ breakeven multiple and overhead rate continued their upward trend, driven by increases in indirect labor, employee and fringe benefits, and computer and IT investments.Raises as a percentage of base compensation remain higher than historical averages, despite a year-over-year decrease.

“We are excited to release the 20th anniversary edition of the Architectural and Engineering Studies prepared by our dedicated team of industry specialists. These studies have provided valuable insights to the A&E industry and allowed firms to benchmark their results so they may assess their performance in order to continue to grow and improve profitability,” said David M. Sullivan, Jr., Partner and Leader of the Architecture & Engineering Practice at PKF O’Connor Davies. “The A&E industry is going through a period of unprecedented changes. To fully capitalize on future opportunities, it’s crucial for industry leaders to have a strong understanding of industry trends.”

To access the 20th Annual Architectural and Engineering Studies, visit https://www.pkfod.com/annual-architectural-study/ and https://www.pkfod.com/annual-engineering-study/.

About PKF O’Connor Davies

PKF O’Connor Davies is a top-tier accounting, tax and advisory practice with a long history of serving domestic and international clients. “Know Greater Value” speaks to the confidence and guidance that our clients realize when they work with us. It reinforces our commitment to delivering the highest levels of value, expertise and service in everything we do. Our clients Know Greater Connections, Know Greater Insights and Know Greater Value. “PKF O’Connor Davies” is the brand name under which PKF O’Connor Davies LLP and PKF O’Connor Davies Advisory LLC, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. PKF O’Connor Davies LLP is a licensed CPA firm that provides attest services and PKF O’Connor Davies Advisory LLC and its subsidiary entities provide tax and advisory services.

For more information, please visit pkfod.com, and follow us on LinkedIn and X (formerly Twitter).

Media Contact

Michelle Goyke, PKF O’Connor Davies, 914-341-7615, mgoyke@pkfod.comhttps://www.pkfod.com/

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NASA’s SpaceX Crew-8 Astronauts to Discuss Science Mission

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WASHINGTON, Nov. 1, 2024 /PRNewswire/ — After spending 235 days in space, NASA’s SpaceX Crew-8 astronauts will discuss their science mission aboard the International Space Station during a post-flight news conference at 3:15 p.m. EST Friday, Nov. 8, from the agency’s Johnson Space Center in Houston.

NASA astronauts Michael Barratt, Matthew Dominick, and Jeanette Epps will answer questions about their mission. The three crew members, along with Roscosmos cosmonaut Alexander Grebenkin, returned to Earth on Oct. 25. Grebenkin will not participate because of his travel schedule.

NASA will provide live coverage on NASA+ and the agency’s website. Learn how to watch NASA content through a variety of additional platforms, including social media.

Media are invited to attend in-person or virtually. For in-person attendance, media must contact the NASA Johnson newsroom no later than 5 p.m. Thursday, Nov. 7 at: jsccommu@mail.nasa.gov or 281-483-5111. Media participating by phone must dial into the news conference no later than 10 minutes prior to the start of the event to ask questions. Questions also may be submitted on social media using #AskNASA. A copy of NASA’s media accreditation policy is available on the agency’s website.

The crew spent more than seven months in space, including 232 days aboard the orbiting laboratory, traveling nearly 100 million miles, and completing 3,760 orbits around Earth. While living and working aboard station, the crew completed hundreds of science experiments and technology demonstrations.

Get the latest NASA space station news, images, and features on Instagram, Facebook, and X.

Learn more about NASA’s Commercial Crew Program at:

https://www.nasa.gov/commercialcrew

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SOURCE NASA

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Mission to International Space Station Launches Research on Brain Organoids, Heart Muscle Atrophy, and Cold Welding

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The SpaceX CRS-31 mission to the ISS for NASA includes studies on in-space manufacturing, cardiac health, and a method to repair spacecraft damaged by debris

KENNEDY SPACE CENTER, Fla., Nov. 1, 2024 /PRNewswire/ — More than 25 payloads sponsored by the International Space Station (ISS) National Laboratory, including technology demonstrations, in-space manufacturing, student experiments, and multiple projects funded by the U.S. National Science Foundation (NSF), are bound for the orbiting outpost. These investigations, launching on SpaceX’s 31st Commercial Resupply Services (CRS) mission for NASA, aim to improve life on Earth through space-based research and foster a sustainable economy in low Earth orbit (LEO). 

The mission is scheduled to launch no earlier than Monday, November 4 at 9:29 p.m. EST from Launch Complex 39A at NASA’s Kennedy Space Center. Below highlights some of the ISS National Lab-sponsored projects on this mission. 

Bristol Myers Squibb (BMS) will build on its legacy of protein crystallization on the space station with a project, in collaboration with ISS National Lab Commercial Service Provider Redwire Space, seeking to crystallize model small molecule compounds to support the manufacturing of more effective therapeutics. Crystals grown in microgravity are often larger and more well-ordered than those grown on the ground and could have improved morphology (geometric shape).NSF is funding four investigations launching on this mission, including a collaborative project from Oregon State University and Texas Tech University focused on cardiac health. This experiment will use 3D-bioprinted cardiac organoids to study microgravity-induced heart muscle atrophy. Results could lead to an increased understanding of heart muscle atrophy, which occurs in several conditions, such as cancer, muscle disease, muscular dystrophy, diabetes, sepsis, and heart failure.Multiple projects sponsored by the ISS National Lab and funded by NASA focus on in-space manufacturing. One investigation by Sachi Bioworks, working with ISS National Lab Commercial Service Provider Space Tango, could help advance the development of new therapeutics for neurodegenerative conditions. The project will use brain organoids in microgravity to test the effects of a novel drug on Alzheimer’s disease, Parkinson’s disease, and dementia.The Malta College of Arts, Science, and Technology is launching a project, with support from ISS National Lab Commercial Service Provider Voyager Space, to test a heatless method of welding. Cold welding is a process that bonds similar metallic materials using force or pressure instead of heat. This method could one day be used to safely repair space platforms and ensure their long-term viability, which would help to address the growing concern of space debris. In this project, the research team will test remote-operated, cold welding to apply metal patches to simulated spacecraft hull samples.The Student Spaceflight Experiment Program (SSEP) will send 39 student-led experiments on its 18th mission to the space station. SSEP aims to prepare the next generation of scientists and engineers by actively involving school communities in the development of scientific investigations to be conducted in microgravity. More than 35 communities took part in this SSEP mission, engaging hundreds of students in grades 5-12, junior college, and undergraduate studies.

For additional information on ISS National Lab-sponsored investigations launching on NASA’s SpaceX CRS-31, visit our launch page. To learn more about the research and technology development sponsored by the ISS National Lab, including how to propose concepts for future space-based research, visit our website.

To download a high-resolution image for this release, click here.

About the International Space Station (ISS) National Laboratory:
The International Space Station (ISS) is a one-of-a-kind laboratory that enables research and technology development not possible on Earth. As a public service enterprise, the ISS National Laboratory® allows researchers to leverage this multiuser facility to improve quality of life on Earth, mature space-based business models, advance science literacy in the future workforce, and expand a sustainable and scalable market in low Earth orbit. Through this orbiting national laboratory, research resources on the ISS are available to support non-NASA science, technology, and education initiatives from U.S. government agencies, academic institutions, and the private sector. The Center for the Advancement of Science in Space™ (CASIS™) manages the ISS National Lab, under Cooperative Agreement with NASA, facilitating access to its permanent microgravity research environment, a powerful vantage point in low Earth orbit, and the extreme and varied conditions of space. To learn more about the ISS National Lab, visit our website.

As a 501(c)(3) nonprofit organization, CASIS accepts corporate and individual donations to help advance science in space for the benefit of humanity. For more information, visit our donations page.

Media Contact:

Patrick O’Neill 

904-806-0035 

PONeill@ISSNationalLab.org 

International Space Station (ISS) National Laboratory

Managed by the Center for the Advancement of Science in Space, Inc. (CASIS)

6905 N. Wickham Rd., Suite 500, Melbourne, FL 32940 • 321.253.5101 • www.ISSNationalLab.org

 

 

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Sonic Tools USA Introduces Pathway Program to Improve Automotive Technician Recruiting and Retention

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Program features tools and toolset upgrades for automotive repair and service organizations to provide to workers for career growth and development

AUBURN, Ala., Nov. 1, 2024 /PRNewswire/ — Sonic Tools USA today introduced its Sonic Pathway Program, an affordable method for automotive dealerships and repair and service centers to supply tools directly to its technicians with specialty pricing. From the moment a candidate is hired through to becoming a master technician, the tool costs are covered by the employer, and toolsets are upgraded as the technician rises in rank.

With the Sonic Pathway Program, the employer covers the tool costs for automotive technicians

The Pathway Program starts with a 255-piece basic toolset and S12 XD Toolbox, available for $4,500. As the technician’s skill level grows, the employer can upgrade the set to the more comprehensive intermediate 456-piece toolset, for $1,750, then, the advanced 672-piece toolset for an additional $3,250, to better match the needs and skill level of the technician. The program ensures that technicians don’t initially overbuy tools at the start of their respective careers they won’t need yet, while also empowering them to affordably upgrade at the right time. It also removes one of the largest barriers to entry, the investment in a toolset, for new automotive trade school technician graduates.

“The standard way the automotive service and repair industry recruits and retains qualified automotive technicians is no longer sufficient to keep pace with demand,” said Colby McConnell, president, Sonic Tools USA. “In response, Sonic Tools created the Sonic Pathway Program to reimagine how automotive repair shops and dealers recruit and retain technicians. It starts with managers providing tools to workers that are appropriate for their respective skill levels, versus workers accruing additional debt by purchasing a toolset on their own—a major hurdle to bringing in the talent this industry desperately needs.”

A Win-Win for Business Owners and Technicians 
Sonic Tools can be purchased online and shipped within days, versus waiting for a truck each week, or longer, to provide the tools they need. The direct purchasing model also overcomes lost and non-billable time stemming from tool truck browsing and shopping. Furthermore, when shops purchase tools directly for technicians versus a signing bonus, technicians can exhibit more loyalty while the business itself enjoys additional tax advantages through capital equipment purchases.

“Many shops and dealerships have responded to the technician shortage by providing signing bonuses upon hiring, but this method falls short in building loyalty and truly supporting the technician workforce through their respective careers,” said McConnell. “Instead of a signing bonus, employers can provide a long-term career development support system via Sonic’s Pathway Program, enabling them to reduce turnover and ultimately run faster and more efficient service bays.” 

Built to last a lifetime, Sonic Tools feature a lifetime, hassle-free warranty program. The online warranty process takes only two minutes to complete and new tools are shipped out typically within 48 hours.

For more information about the Sonic Pathway Program, visit https://sonictoolsusa.com/sonic-pathway-program/.

About Sonic Tools
Sonic Tools takes pride in being the industry experts in high-quality hand tools, toolboxes, and premium storage solutions. Sonic is a trusted partner for professionals who demand the best. The company offers a wide range of innovative and durable tools designed for demanding tasks, ensuring precision and efficiency in every project. Sonic Tools is committed to continuous improvement and exceeding customer expectations through superior quality and unbeatable customer experience.

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