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In Maharashtra’s Thane district, police have registered a case of alleged fraud involving two construction company owners accused of deceiving a family of ₹1.2 crore. The incident came to light after a 28-year-old woman from Thane’s Rabodi area lodged a complaint against the two accused, who are brothers. The accused allegedly persuaded the woman, her mother, and her sister to invest the substantial sum in their construction company based in Mumbai’s Bandra area. Promises were made of a significant payout within five years or, alternatively, the option of acquiring two or three apartments in the city’s prime real estate zone. According to the complaint, the woman’s family entered the deal on December 31, 2022, convinced by assurances of either a return of ₹3 crore over five years or property options in Bandra. To meet the required investment amount, the family borrowed funds from various sources, entrusting their money with the accused based on the lucrative promises. The police official handling the case noted that the family, enticed by the seemingly profitable terms, had not foreseen the outcome that would follow. In May 2023, however, when the family attempted to reclaim their funds and the anticipated profit, the accused allegedly declined the request. The complainant stated that the brothers not only refused to pay but also reportedly threatened the family, citing powerful connections that would shield them from legal repercussions. This behaviour alarmed the family, leading them to seek legal recourse. The Rabodi police have filed a case against the accused under various sections of the Indian Penal Code, including Section 420 for cheating, Section 406 for criminal breach of trust, and Section 506 for criminal intimidation. Additionally, charges were filed under Section 34, indicating common intention, along with relevant provisions of the Maharashtra Protection of Interest of Depositors Act. The case highlights the dangers that investors may face when lured by high-return promises in unregulated sectors. Fraudulent schemes in real estate and construction have been known to target individuals and families looking for profitable investments, often leaving them with financial losses and emotional distress. Authorities are continuing investigations, with the Rabodi police closely monitoring the case to gather further evidence. This incident is expected to bring more attention to regulatory practices within the real estate industry and underscore the need for stricter oversight to protect potential investors from falling prey to deceitful operators. (with PTI inputs)

Thane family loses Rs 1.2 crore as they get cheated by construction company, details here

New Delhi: After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore. There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September. IPOs scheduled for next week, beginning October 7, are <keyword id="22922418" type="General" weightage="20" keywordseo="Garuda-Construction" source="keywords">Garuda Construction</keyword> and Engineering on the main board and <keyword id="23436926" type="General" weightage="20" keywordseo="Shiv-Texchem" source="keywords" meta.keywordsubtype="org" meta.entityname="Shiv Texchem" meta.hostid="153" meta.entityid="Shiv Texchem">Shiv Texchem</keyword> on the SME segment. Garuda Construction is seeking to raise Rs 264 crore, and Shiv Texchem is aiming for over Rs 101 crore through their respective IPOs available for public subscription during October 8-10. The stock market has seen a significant correction in the <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword> since the start of October amid intensifying conflict between Israel and Iran. Despite the temporary slowdown, overall, the outlook for the <keyword id="19926041" type="General" weightage="100" keywordseo="IPO-market" source="keywords">IPO market</keyword> is promising, with 26 firms proposing to raise Rs 72,000 crore presently holding Sebi's approval while another 55 companies looking to garner about Rs 89,000 crore are awaiting the regulator's clearance, according to the Primedatabase. This month will see <keyword id="19908548" type="General" weightage="20" keywordseo="Hyundai-Motor-India" source="keywords">Hyundai Motor India</keyword> Ltd, the Indian arm of South Korean automaker Hyundai, hitting the primary market to raise around Rs 25,000 crore. The company's IPO is likely to be launched on October 14, according to sources. If the offering proceeds as planned, it will surpass Life Insurance Corporation's (LIC) public offering of Rs 21,000 crore, becoming the largest IPO in India's history. Moreover, 63 companies have already mobilised around Rs 64,000 crore via mainboard, marking a 29 per cent increase from Rs 49,436 crore collected by 57 firms through the route in 2023. The strong momentum in IPO markets is being driven by several key macroeconomic, sector-specific factors and the willingness of funds to look at new ideas. In particular, strong inflows into domestic mutual funds and robust capital formation across corporate India are playing key roles, experts said. Garuda Construction and Engineering's IPO is a mix of fresh issue of 1.83 crore equity shares and an offer of sale (OFS) of 95 lakh equity shares by promoter PKH Ventures. The price band has been fixed at Rs 92 to Rs 95 per share. About Rs 100 crore from its fresh issuance proceeds will be utilised for working capital requirements and the balance towards general corporate purposes, including unidentified inorganic acquisitions. Shiv Texchem's IPO is a completely new offering of over 61 lakh shares and is a book-built issue of Rs 101.35 crore. It has set a price band of Rs 158 to Rs 166 per equity share for the IPO. Further, the SME IPO of Khyati Global Ventures, which opened for public subscription on October 4, will close on October 8. Additionally, six companies from the SME segment are set to list in the coming week. HVAX Technologies and Saj Hotels will debut on October 7, followed by Subam Papers and Paramount Dye Tec on October 8. NeoPolitan Pizza and Foods will begin trading on October 9, with Khyati Global Ventures to follow on October 11.

IPO market braces for brief slowdown, 2 new issues targeting Rs 365 crore next week

<ul class="summary-list"><li>A member of Brawner Builders survived the Francis Scott Key Bridge collapse.</li><li>Six other crew members are presumed dead; their bodies have not been recovered.</li></ul>One construction worker survived the devastating collapse of the <a target="_blank" href="https://www.businessinsider.com/what-we-know-dali-francis-scott-crash-collapse-maryland-bridge-2024-3?mrfhud=true">Francis Scott Key Bridge in Baltimore</a> on Tuesday morning.Six other workers are presumed dead, Jeffrey Pritzker, the executive vice president of Brawner Builders, the workers' employer, confirmed to Business Insider.Pritzker didn't disclose the names of the workers, who fell into the freezing waters of the 50-foot-deep <a target="_blank" href="https://www.businessinsider.com/baltimore-bridge-collapse-container-ship-dali-maryland-port-rescue-disaster-2024-3?mrfhud=true">Patapsco River</a> after a <a target="_blank" href="https://www.businessinsider.com/francis-scott-key-bridge-no-chance-against-large-impact-experts-2024-3?mrfhud=true">cargo ship crashed</a> into the bridge in Baltimore's port.Rescue crews have yet to recover the bodies of the presumed-dead workers. Pritzker told the <a target="_blank" href="https://apnews.com/live/baltimore-key-bridge-collapse-latest-2024#0000018e-7c18-da0f-af9f-fefde9680000">Associated Press</a> the amount of time that had passed and the water's depth led rescue teams to believe they were no longer alive.Officials suspended their search-and-rescue efforts Tuesday evening, <a target="_blank" href="https://www.washingtonpost.com/dc-md-va/2024/03/26/baltimore-key-bridge-collapse-maryland/#link-K725XDHDVVBDXJYDQPNTMRMTOI">The Washington Post</a> reported.Baltimore's fire chief, James Wallace, told <a target="_blank" href="https://www.nbcnews.com/news/us-news/maryland-bridge-collapse-francis-scott-key-bridge-boat-baltimore-rcna145047">NBC News</a> that two people had been rescued from the water.The <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/baltimore-bridge-collapse-stuck-by-cargo-ship-photos-2024-3?mrfhud=true">Singapore-flagged Dali cargo ship</a> crashed into the bridge shortly before 1:30 a.m. after losing power. A Brawner Builders employee who wasn't working that night, Jesus Campos, told the Post that at the time of the incident, his coworkers at the bridge were on their meal break.<a target="_blank" href="https://www.youtube.com/watch?v=QtBxwkR_spo">Gov. Wes Moore of Maryland</a> told reporters at a news conference Tuesday morning that the bridge collapse could have been worse had it not been for a <a target="_blank" href="https://www.businessinsider.com/baltimore-bridge-collapse-cargo-ship-mayday-call-traffic-2024-3?mrfhud=true">mayday call</a> that crew members on <a target="_blank" href="https://www.businessinsider.com/ship-caused-baltimore-bridge-collapse-previously-crashed-2016-antwerp-2024-3?mrfhud=true">the Dali</a> dispatched, warning officials they were about to hit the bridge. As a result, officials were able to stop traffic on both sides of the bridge to prevent more cars from driving over. Moore said the actions of the crew most likely saved many lives.Engineers previously told BI that the cargo-ship crash wasn't because of any oversights in the <a target="_blank" href="https://www.businessinsider.com/how-did-modern-cargo-ship-take-out-baltimore-bridge-experts-2024-3?mrfhud=true">bridge's construction</a>; rather, the sheer <a target="_blank" href="https://www.businessinsider.com/francis-scott-key-bridge-no-chance-against-large-impact-experts-2024-3?mrfhud=true">force of the massive cargo ship</a> made such a collapse inevitable.

Baltimore construction company says one of its workers survived bridge collapse

<ul class="summary-list"><li>Warren Buffett's Berkshire Hathaway bought Domino's Pizza and Pool Corp. stock last quarter.</li><li>Buffett loves fast food and already owns distribution businesses, making the pair a natural fit.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/how-warren-buffett-spends-money-net-worth">Warren Buffett</a>'s Berkshire Hathaway added Domino's Pizza and Pool Corp. to its stock portfolio last quarter, a regulatory filing <a target="_blank" class="" href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-dominos-pizza-pool-corp-stock-portfolio-2024-11">revealed</a> on Thursday. The pizza chain and swimming pool specialist seem like good fits.The famed investor's conglomerate bought nearly 1.3 million shares of Domino's, a 3.7% stake worth $549 million at the end of September. Berkshire also purchased a 1.1% position of Pool Corp, worth $152 million at the quarter's close.Domino's shares jumped 8%, and Pool Corp. shares jumped 6% after the news came out on Thursday as the "<a target="_blank" href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-ulta-beauty-heico-apple-stock-portfolio-2024-8">Buffett Effect</a>" spurred other investors to buy them.It's worth noting that one or both of Buffett's investment managers, Ted Weschler and Todd Combs, were <a target="_blank" class="" href="https://www.businessinsider.com/todd-combs-and-ted-weschler-2014-3">likely behind</a> the stock picks given their small size relative to Berkshire's $266 billion US equity portfolio.<h2 id="3fc5b5d1-04ef-46f4-b033-2fe0114d1501">Slice of the pie</h2>As value investors, Buffett and his team specialize in <a target="_blank" class="" href="https://www.businessinsider.com/warren-buffett-cash-pile-berkshire-hathaway-stock-portfolio-crash-recession-2024-11">bargain hunting</a>. Domino's stock has skyrocketed more than 40-fold since the start of 2010, and traded north of $530 in late June — not far off its all-time high of around $560. Yet its price tumbled to around $400 by mid-July and remained depressed for the rest of last quarter, offering a buying window for Berkshire.Buffett <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-dream-business-is-sees-candies-2019-7">prizes brands</a> because they foster loyalty, enabling businesses to raise prices without losing customers to rivals.The 94-year-old Berkshire chief is a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/warren-buffett-diet-mcdonalds-coke-junk-food-soda-ice-cream-2023-4">junk-food fanatic</a> whose company already owns businesses like Dairy Queen and counts Coca-Cola and Kraft Heinz among its largest stock bets. Domino's fits well among those kinds of names.One of Domino's key strengths is that it controls costs and boosts profit margins by licensing its brand to franchisees and then collecting fees and royalties.The company also charges them for food, equipment, and supplies, and takes a cut of their sales to fund advertising campaigns. Company-owned stores generated just 8.4% of the $4.5 billion in revenue last year.<h2 id="0583ac2c-58af-453e-a24c-d39b4038089e">Taking the plunge</h2>Pool Corp. shares dropped under $300 in early July, well below the $570-plus peak they touched in November 2021, which may have prompted Berkshire to buy in.The wholesale distributor of swimming pool equipment, parts, supplies, and related products generated $5.5 billion in net sales and $523 million in net income last year, sharp declines from the previous year.Berkshire owns numerous construction-related businesses, including Clayton Homes and Acme Brick. Buffett and his team are also deeply familiar with the industry, given Berkshire's ownership of McLane, a wholesale distributor.The result is that Pool Corp. sits firmly within <a target="_blank" href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-lifestyle-discipline-compounding-investing-william-green-2021-9">Buffett's "circle of competence,</a>" which he keeps in mind to ensure that he only invests in things he understands.Neither Domino's nor Pool Corp. classify as cheap on a price-to-earnings basis. But with the wider stock market hovering at all-time highs, they might be the next best thing to a bargain.Both seem to fit the Berkshire mold of unassuming businesses.Delivering pizzas and pool supplies isn't glamorous or innovative, but staid companies are often underappreciated by the market. They tend to trade more cheaply than flashier, tech-driven companies and are typically less volatile and vulnerable to market routs.The positions are so small that Buffett is unlikely to address them in any public appearances. That leaves it to investors to discern whether Berkshire has bought some gems or scooped up a couple of duds.

Warren Buffett's company just bought into Domino's Pizza and Pool Corp. Here's why both bets make sense.

<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> released the composite result and Credit Compendium of Adani Group of <keyword id="20027214" type="General" weightage="20" keywordseo="companies" source="keywords">companies</keyword> for Q1 FY25. The Results Compendium provides a comprehensive overview of the <keyword id="20088085" type="General" weightage="20" keywordseo="financial-performance" source="keywords">financial performance</keyword> of the Adani Portfolio, while the Credit Compendium offers in-depth insights into the portfolio's robust credit strength. According to the results, the strong performance for the quarter was led by <keyword id="20113873" type="General" weightage="20" keywordseo="Adani-Enterprises" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Enterprises" meta.hostid="261" meta.entityid="Adani Enterprises">Adani Enterprises</keyword>' emerging businesses, including solar and wind manufacturing. In a press release, the company stated that it has emerged as India's largest player in the fully integrated <keyword id="19990484" type="General" weightage="20" keywordseo="green-hydrogen" source="keywords">green hydrogen</keyword> chain, as well as in the airports and roads sectors. The company added that AEL's infrastructure businesses' steadily rising contribution is playing a significant role in this growth, with <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> expanding by 69.98 per cent YoY. These fast-growing businesses now contribute 13.3 per cent to the portfolio-level EBITDA, up from 7.2 per cent a year ago. The overall EBITDA of Adani Group companies surged by 32.87 per cent year-on-year (YoY) to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year. The Adani Group highlighted that its 'Core Infrastructure' platform comprises AEL's (Adani Enterprises) Infrastructure businesses, Utility (Adani Green Energy, Adani Power, Adani Energy Solutions, and Adani Total Gas), and Transport (Adani Ports &amp; SEZ) businesses. The Solar module manufacturing business of the group saw module sales rise by 125 per cent YoY in the quarter. Furthermore, the operationalization of photovoltaic cell lines lowered costs, resulting in higher profitability. The airport business also continues to see strong growth from rising passenger movement, increasing consumer offerings, and the addition of routes, airlines, and flights across seven operational airports. Adani Enterprises' performance indicates that in airports, the annual passenger movement across 7 airports crossed 90 million for the first time. During the quarter, eight new routes, six new airlines, and 13 new flights were added across all seven airports. Additionally, 25 new brands were introduced at Lucknow airport after the inauguration of Terminal 3. The road business achieved its highest-ever 730 lane-km construction during this quarter. In the Adani Green Energy segment, construction work for a 500 MW hydro pump storage has commenced, with a 31 per cent YoY capacity addition during the quarter. Another 250 MW wind capacity was operationalized in July at Khavda, bringing the total capacity to 11.2 GW. Adani Energy Solutions stated that the Khavda-Bhuj Transmission Line (KBTL) is fully commissioned, enabling 3 GW green power evacuation from Khavda. The 1,765 ckm Warora Kurnool Transmission Line (WKTL) was also fully commissioned, strengthening the national grid by ensuring seamless power flow between the western and southern regions. Adani Ports &amp; SEZ reported that Vizhinjam port, India's first transhipment port equipped with South Asia's most advanced container-handling technology, was formally commissioned in July and will become operational in November. In the Cements segment, the promoters infused Rs 15,000 crore in two tranches in Ambuja Cements in March and April, fully subscribing to the warrant program and infusing a total of Rs 20,000 crore since the acquisition in September 2022. The company also acquired Penna Cement, increasing the total capacity to 89 MTPA. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms">India’s wearables market decline for the first time as smartwatch shipments fall</a>

EBITDA of Adani Group companies surged by 32.87% year-on-year to ₹22,570 crore

Collaboration tools have become essential in ensuring the coexistence of the digital and physical workplace, both internally with employees and externally with clients. Even in 2023, companies have been posting <keyword id="92836" type="General" weightage="20" keywordseo="hybrid" source="Orion">hybrid</keyword> work-related roles, reveals the report by GlobalData, a leading data and analytics company. The report revealed that sectors such as <keyword id="34617" type="General" weightage="20" keywordseo="construction" source="Orion">construction</keyword>, <keyword id="35450" type="General" weightage="20" keywordseo="insurance" source="Orion">insurance</keyword>, <keyword id="13334810" type="General" weightage="20" keywordseo="banking-and-payments" source="Orion">banking and payments</keyword>, <keyword id="12712226" type="General" weightage="20" keywordseo="technology-and-communications" source="Orion">technology and communications</keyword>, and pharmaceuticals posted significant hybrid job roles during the third quarter (Q3) of 2023. "Post-Covid-19 job trends indicate a shift towards hybrid and <keyword id="149350" type="General" weightage="20" keywordseo="flexible" source="Orion">flexible</keyword> work models. With more sectors looking at flexible work models, these may become a norm along with 'in-office' roles in near future," said Sherla Sriprada, Business Fundamentals Analyst at GlobalData, in a statement. "Embracing the shift to hybrid work models is not just a trend; it is a strategic imperative for companies navigating the evolving landscape. The hybrid roles across diverse sectors signals a profound transformation in the way we work, ensuring adaptability and resilience in the post-Covid-19 era," Sriprada added.

Hybrid work here to stay as companies embrace flexibility: Report

<ul class="summary-list"><li><keyword id="22159313" type="General" weightage="20" keywordseo="Mississippi-County" source="keywords">Mississippi County</keyword> offers up to $50,000 for new home builds or renovations to attract residents.</li><li>The Work Here, Live Here program aims to boost the local economy and grow the population.</li></ul>Mississippi County, Arkansas wants to help residents build their <a target="_blank" href="https://www.businessinsider.com/buying-a-home-new-construction-shortage-supply-mortgage-rates-housing-2024-6">dream home</a>, as long as they agree to live in the area for at least four years. To accomplish this goal, it's offering up to $50,000 per household for a new home. The program — called Work Here, Live Here — is the county's effort to <a target="_blank" href="https://www.businessinsider.com/cities-that-pay-people-cash-money-to-move-there-2024-6">boost the local economy and grow the population</a>, which is just under 40,000 people, per the <a target="_blank" href="https://datacommons.org/place/geoId/05093?utm_medium=explore&amp;mprop=count&amp;popt=Person&amp;hl=en">2022 Census</a>. A two-and-a-half hour drive from Little Rock, the county borders Tennessee and includes cities like Blytheville and Osceola. Work Here, Live Here is organized and partially-funded through a group ofMississippi County industries, community groups, and financial institutions like Farmers Bank &amp; Trust. It first started providing resident and mover incentives in the fall of 2022. The county is one of the nation's<a target="_blank" href="https://markets.businessinsider.com/news/x"> top steel-producing areas</a>, President and CEO of Farmers Bank &amp; Trust Randy Scott told Business Insider. And, the incentive program is only available to employees of specific companies, like steel producers River Steel, US Steel, and Atlas Tube. Eight companies have partnered with Work Here, Live Here so far, and Scott expects more to join this month. "We want homeowners that are gonna stay here," Scott said. Mississippi County's incentive program is part of a recent wave of efforts across <keyword id="22159319" type="General" weightage="20" keywordseo="rural-America" source="keywords">rural America</keyword> to increase populations and local businesses. Areas like <a target="_blank" href="https://www.businessinsider.com/get-paid-move-work-remotely-cash-stipend-internet-kansas-2024-5">Lincoln County, Kansas</a>, <a target="_blank" href="https://www.businessinsider.com/left-washington-dc-moved-to-tulsa-remote-program-live-alone-2023-11">Tulsa, Oklahoma</a>, and Columbus, Georgia are paying people to move there, offering perks like discounted gym memberships, internet credits, tax breaks, and up to $10,000 in cash to new residents. Mover incentive programs have become especially popular in the aftermath of the pandemic, as <a target="_blank" href="https://www.businessinsider.com/dream-job-in-office-work-full-time-flexibility-benefits-2024-3">more jobs are remote or location flexible</a>. And, as the cost of living continues to rise in US cities — <a target="_blank" href="https://www.businessinsider.com/how-much-food-healthcare-housing-cost-most-expensive-us-cities-2024-2">especially on the coasts</a> — more prospective homebuyers are being priced out. Some are turning to these smaller cities and counties<a target="_blank" href="https://www.businessinsider.com/midwest-movers-gen-z-millennials-renters-single-california-texas-2024-2"> in the Midwest or South</a>. For Mississippi County, this growing housing demand has provided an opportunity to build their towns and cities. "They're going to be here for generations to come," Scott said. "They're your future registered voters, future school board members, future enrollments in the schools." <h2>With <keyword id="22159315" type="General" weightage="20" keywordseo="housing-incentives" source="keywords">housing incentives</keyword>, Mississippi County hopes to see population growth</h2>In the 20 months since Work Here, Live Here launched, the program has drawn 80 new homeowners to Mississippi County. And, according to Scott, the majority of them are <a target="_blank" href="https://www.businessinsider.com/house-affordability-crisis-13-young-americans-rely-family-down-payments-2024-3">first-generation homebuyers</a>, young people, and young families. The housing incentive program offers a 10% forgivable loan on a new <keyword id="22159321" type="General" weightage="20" keywordseo="home-construction" source="keywords">home construction</keyword> with a maximum home cost of $500,000, meaning some families can receive up to a $50,000 housing credit. Existing homes can receive a forgivable loan of up to 5%. Per data provided to BI fromWork Here, Live Here, the program has already led to the construction of 28 homes and 52 existing homes. The average price of homes purchased is $270,253 and the average benefit received is $28,767. "We will have an individual that gets the incentive," Scott said. "And within a week, everyone that works on his shift with him is calling us saying 'hey, how can I participate as well?"' Work Here, Live Here was initially focused on keeping residents who already lived in Mississippi County, but it has also attracted homebuyers from out of state, Scott said. Participants have come from Missouri, Alabama, Mississippi, Wisconsin, Michigan, Colorado, and Ohio. As more families move to or settle in Mississippi County, Scott expects it will have a positive effect on businesses, the school system, and public spaces. Now, he and other northeast Arkansas leaders want to get the word out. "Once we start having population increase — and there's no reason why we shouldn't with other jobs we have created — the quality of life will follow," Scott said. "You'll get the restaurants, you'll get the retail shops, you'll get the amenities." Have you been paid to move? Are you open to sharing your pros and cons of moving to a new city? If so, reach out to this reporter at <a target="_blank" href="mailto:allisonkelly@businessinsider.com">allisonkelly@businessinsider.com</a>. Correction: June 21, 2024 — An earlier version of this story incorrectly stated the incentives for Work Here, Live Here. The program provides funds for the purchase of a home, not home renovations.

An Arkansas county doesn't want families to move. It's offering them up to $50,000 to buy a new home.

<ul class="summary-list"><li>Suffolk is the largest construction contractor based in Massachusetts.</li><li>The company built an artificial intelligence model that predicted safety risks on construction sites.</li><li>Insights from the model reduced incident rates by 25%.</li></ul>Suffolk is a construction company headquartered in Boston, Massachusetts. It's the largest construction contractor in Massachusetts with additional locations in California, Florida, New York, and Texas.<h2>Situation analysis: what problem were they trying to solve?</h2>According to Kelsey Gauger, Suffolk's national director of operational excellence, the construction industry could experience a "brain drain" in the next five to 10 years.The construction sector is facing a labor shortage, with more than <a target="_blank" href="https://www.abc.org/News-Media/News-Releases/construction-workforce-shortage-tops-half-a-million-in-2023-says-abc">half a million additional workers</a> needed on top of the average pace of hiring to meet labor demands. As well as struggling to hire new workers, the industry is set to soon lose many of its current ones, as nearly a quarter of construction workers are older than 55."All of our wisdom is going to be leaving the industry," Gauger told Business Insider. "[We have] younger people that are from the next generation that have to get up to speed really quickly with best practices."Construction is also a high-hazard industry. In 2021, <a target="_blank" href="https://www.bls.gov/opub/ted/2023/construction-deaths-due-to-falls-slips-and-trips-increased-5-9-percent-in-2021.htm#:~">nearly one in five workplace deaths</a> occurred in the construction sector.Informed decision-making is a key part of ensuring safety standards are upheld on construction sites. However, with its most experienced workers aging out of the industry, Gauger said that Suffolk wanted to shift from "intuition-based decision-making" to "data-driven decision-making.""Safety's not about numbers, or about technology, it's about people. But there's ways to use data and numbers and technology to make those people safer," Gauger said.<h2>Key staff and partners</h2>Suffolk appointed its first chief data officer, Jit Kee Chin, in 2017, and has a team of 30 data analysts. Having a strong internal team enabled the company to do a lot of the development in-house.Suffolk also sought out external partners. Suffolk Technologies Group, a venture capital group associated with Suffolk, invests in construction startups and uses Suffolk jobsites to test out potential solutions. One of their first investments was in NewMetrix, formerly known as SmartVid, a startup based in Cambridge, Massachusetts. Suffolk then worked in partnership with NewMetrix to develop a safety solution that leverages artificial intelligence.<h2>AI in action</h2>In order to maintain safety on jobsites, construction workers conduct safety observations, where a team member records any incidents that could pose a safety risk, such as someone not wearing the appropriate protective clothing.First, Suffolk worked with NewMetrix to digitize its safety observations and incident data."The shift from manual and analogue to digital enabled us to collect data, and that's the most important piece of all of this," Gauger said. "It plays into our data strategy."The next step was putting this data to use. NewMetrix developed a predictive model that leveraged artificial intelligence to give a risk rating to jobsites and to predict the likelihood of an incident occurring.One of the model's findings was that if one safety observation occurred for every 150 hours worked on a job site — that being, if there are 10 people working a 15 hour day, 150 hours will accumulate — then incident rates will be driven down significantly.With this new insight, Suffolk changed their KPI for jobsite safety. Instead of having a target of reducing the total number of on-site incidents, they focused on the number of safety observations carried out per workforce hours accumulated.Gauger said that one challenge has been "convincing people to trust the data" and to "buy into the information that the model is providing.""I think just holistically, our industry does not always leverage technology and data to the fullest capacity and historically [it] has not done that," she added.<h2>Did it work, and how do they know?</h2>After implementing this data-driven strategy, Suffolk saw a 25% improvement rate in their total recordable incident rate in the past fiscal year."Over the course of the last few years since we've provided more focus on observations, we've seen an overall downward trend closer to 60% in terms of incident rates," Gauger said.Gauger added that the machine-learning model now accounts for 40 different factors correlated with safety outcomes."One of the things that we've been able to do is actually flag at-risk projects, in addition to driving safety observations, so we can actually plug into that model all of this information and it can tell us, 'here are the three jobs in your portfolio that are the most at risk.'"<h2>What's next?</h2>Gauger said that in future, Suffolk plans to use AI to create "micro-efficiencies." For instance, Suffolk's operations team planned to roll out Microsoft's AI-powered Copilot capabilities and integrate the AI into tools that the team is already using.Gauger added the company wanted to implement AI in "big strategic ways" as well. "We're sitting on 40 years of construction data," she said, adding that Suffolk aimed to leverage AI "to fuel better design decision-making up front."

How one construction company is using AI to make workers more safe 

<ul class="summary-list"><li>Saudi Arabia wants The Line to be a high-tech "eco-city."</li><li>Officials say the city will have no cars or emissions and run on 100% renewable energy.</li></ul>Neom's flagship city, known as The Line, has grand plans to be a futuristic "eco-city."Officials say the linear city will be built between two giant mirrored skyscrapers, each 1640 feet high and 656 feet apart, and be free of roads, cars, and emissions.While plans for The Line have <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-neom-the-line-urban-design-linear-pros-cons-2024-6">baffled architects and designers</a>, Saudi has continually touted the project as one of the most sustainable in the world.It's part of Saudi ruler <a target="_blank" rel="" href="https://www.businessinsider.com/saudi-arabia-mohammed-bin-salman-power-broker-mbs-crown-prince-2023-12">Mohammed bin Salman's Vision 2030 plan to reorient the country's economy away from fossil fuels, which are the source of its wealth,</a> toward innovation, technology, and tourism.Even the unusual materials used for The Line aim to foster a sense of coexistence with the natural world."With a mirrored facade, wherever you are looking you will see the land behind you, which will be a natural environment. It will blend in perfectly with the surrounding environment. The Line becomes part of its environment, at one with nature," Giles Pendleton, Neom's chief operating officer, said in a press release.But recent reports have raised questions about how sustainable the city really is.A May report from The Wall Street Journal said that <a target="_blank" class="" href="https://www.wsj.com/world/middle-east/saudi-arabia-neom-line-construction-99b3f54f">Neom officials</a> were recently seeking out contractors to build two gas power plants to power the region until greener energy could be sourced.In the same month, Neom also axed a $1.5 billion project to build a water desalination plant for the city that ran on 100% renewable energy. The exact reason for the cancellation is still unclear.Experts told Business Insider that while The Line's eco ambitions were visionary, issues with its construction and design could undermine some of the Kingdom's sustainability goals.<h2 id="d2b204c4-1f3e-4eaa-be62-88f676a0a20f">Harmful design</h2>Initial designs for The Line have already faced criticism about their potential<a target="_blank" rel="" href="https://www.businessinsider.com/neom-the-line-mirrored-tower-birds-kill-saudi-arabia-2024-5"> impact on wildlife</a> and <a target="_blank" class="" href="https://www.businessinsider.com/the-line-neom-completely-ludicrous-design-saudi-arabia-2024-6">everyday appeal.</a>The mirrored structure is set to be built on a migration route used by billions of birds, something that has reportedly left planners concerned the city could lure a "significant number" of them to their deaths.In documents reviewed by The Journal, designers wrote that it was "inevitable that a significant number of birds will perish," illustrating their concerns with a drawing of a dead northern flicker.Anirban Adhya, a professor of architecture and urban design at Lawrence Technological University, told Business Insider that the city's design could harm the surrounding environment."The development seems to be very uniform with external mirrors on both sides," he said. "This could be harmful ecologically in terms of unnecessary heat gain as well as detrimental for birds and their flying path."Whether the construction of the "eco-city" is as sustainable as the finished project is another question."The energy that's going to be used to build it is not going to be sustainable — even if once Neom is built, it might have a sustainable component," Andreas Krieg, a Gulf specialist at the Institute of Middle Eastern Studies at King's College London, told BI.Philip Oldfield, head of school at UNSW Built Environment in Sydney, has estimated that building The Line would produce billions of tons of embodied carbon dioxide.He said after calculating the amount of floor area, how big it will be, and how much concrete it might need the amount of carbon produced could be equivalent to the UK's total emission over three to four years.<h2 id="7c47ff44-3192-470c-96ff-052bd5d47858">Ambitious goals</h2>Neom claims that 95% of land and sea in the region will be protected for nature and is <a target="_blank" class="" href="https://www.businessinsider.com/neom-weird-jobs-needed-run-smart-city-2024-5">already recruiting</a> for roles dedicated to rewilding and land preservation.It has also promised to be a zero-carbon city, relying on public transport instead of cars and roads.Experts told BI that these plans offered exciting solutions for issues like urban sprawl, excessive carbon emissions, and inefficient energy use.Even just the focus on AI-enhanced sustainability was an important step in pushing the boundaries of urban design, said Mona Lovgreen, a partner and architect at design company Dialog.However, its construction did pose some potential negative ecological impacts, she said.Lovgreen pointed to issues "such as disrupting natural habitats, carbon emissions from building materials, and the transferring of these materials to areas remote from where they are produced."Mara Baum, an architect and sustainability expert also at Dialog, added that while Neom's effort to reduce transport emissions was important, "this ignores the substantial environmental impact of building a new city from scratch.""Transportation accounts for less than a quarter of global carbon emissions, while the construction and operation of buildings represent nearly 40% of emissions," Baum said.She added that it can be particularly difficult to maintain sustainable construction in hot and dry regions of the world.<h2 id="fae98238-3d7c-4af0-aeae-406ff07502de">Gulf greenwashing</h2>Saudi's green ambitions for Neom also serve to redirect attention away from the country's heavy reliance on oil and gas.While megaprojects like Neom are part of a plan to pivot Saudi's economy away from fossil fuels, the projects are still largely funded by the country's vast oil revenues.Krieg said projects like Neom were part of a wider greenwashing trend across Gulf nations."These countries don't talk about oil and gas," he said. "For Neom and all these bigger projects, part of the PR of it is saying that it's going to be green and it's going to be sustainable.""These little efforts that they're making are supposed to compensate for the massive percentage of dirty energy that they're producing," he said.Representatives for Neom did not immediately respond to a request for comment from BI.With additional reporting from <a target="_blank" class="" href="https://www.businessinsider.com/author/ben-bauer">Ben Bauer</a>.

Saudi says The Line will be the world's first 'eco-city.' Construction and design specialists aren't so sure.

<ul class="summary-list"><li>Yadira Raygoza earns $53 an hour and has juggled family, work, and studying for the last five years.</li><li>As a 26-year-old construction worker, Raygoza said she's had to adapt her communication style to men.</li></ul>This as-told-to essay is based on a conversation with Yadira Raygoza, a 26-year-old construction worker. This essay has been edited for length and clarity. Business Insider verified her identity, employment, and hourly pay rate.I applied to an <a target="_blank" class="" href="https://www.businessinsider.com/electrician-switched-medicine-surgeon-degree-college-pre-med-gen-z-2024-5">electrical construction</a> apprenticeship with IBEW, the International Brotherhood of Electrical Workers, when I was 19.I never expected to go into electrical construction, but I started a family early and I wanted to pursue my own personal goals while having a flexible schedule.My brother joined the program and after hearing about how he was able to start a career without having to go through <a target="_blank" class="" href="https://www.businessinsider.com/college-degree-student-loans-value-worth-it-survey-wsj-2023-3">four years of college followed by debt</a>, I decided to do the same.The apprenticeship takes several years and involves <a target="_blank" class="" href="https://www.businessinsider.com/college-enrollment-declining-student-debt-job-market-politics-2023-3">schooling while working</a>. My hourly rate has increased based on my experience and hours worked. In the last year, I made $53 an hour and worked five days a week. I also attended night school in the evening twice a week for three hours, and every other Saturday while studying for exams.I've been on maternity leave for the last month, but I passed my state exam, so when I return I'll make $63 an hour.<h2 id="2b0a49c3-7cb5-450b-9c79-49affc70bb31">It's been challenging</h2>I've had to juggle having a family, studying, and working for the last five years — and it's also a pretty physically demanding job.Commercial work requires pulling wire for pretty big gear and panels for metro stations. It's a big wire to pull for long destinations. We also land the wire into panels and run a lot of RMC/PVC conduits for station communication, power, and lighting systems, including underground work.The work involves a lot of pushing, carrying, crawling, and ladder work. We also have to do calculations sometimes. Being familiar with the Pythagorean theorem and <a target="_blank" class="" href="https://study.com/academy/lesson/sohcahtoa-definition-example-problems-quiz.html">SOHCAHTOA</a> will make installations easier. Algebra II is also needed for wire pulling and other electrical calculations.The job also involves a lot of specific language regarding materials, tasks, tools, safety, and work planning. There's a lot to keep track of and changes within each work project, such as materials and installations.<h2 id="779f06f5-c8a4-4689-97b5-dbc8aab367e2">I've yet to work directly with another woman</h2>In over five years of working in this field, there have been other women employed on projects, but they are very few, and I've personally never worked with one.The guys are great, but it's an adjustment to work with all men. They can come off as rougher even if they're not trying to be. I've had to learn to distinguish different tones and it's given me thicker skin and helped me work on my emotional intelligence.We need more female representation in this field though.Right now, I'm pregnant, and in California, <a target="_blank" class="" href="https://www.businessinsider.com/maternity-leave-around-the-world-2018-5">you can go on leave starting at 36 weeks</a>. But considering the kind of work we do, I wouldn't encourage someone who's seven months pregnant to be on a ladder.<h2 id="e3265d45-cafd-4418-a9e6-e971d0050134">The money and lifestyle have helped me live comfortably and start a family early</h2>I usually start work at 5 a.m., have two breaks, and finish at 1:30 p.m. in time to pick up my son at 2:30 p.m. Then I take him to practice, cook dinner, and spend the evening with him before I go to bed around 10 p.m.I also spend weekends with my family which is important to us.If I had taken the <a target="_blank" class="" href="https://www.businessinsider.com/culinary-mechanics-construction-trade-program-increase-college-enrollment-decreases-study-2023-4">college route</a>, I would have come out with at least $30,000 in debt. I also would have had to do internships and get low pay for experience. A lot of my <a target="_blank" class="" href="https://www.businessinsider.com/gen-zers-talking-about-money-troubles-tiktok-finance-high-cost-2024-2">friends my age are struggling with expenses.</a>I'm grateful for the apprenticeship because I've been able to keep up with our expenses and was able to buy a house at 25, which I cosigned with my mother-in-law.The other nice part about the program is there are a lot of companies within it. If I were to get laid off, I could go to the port of the apprenticeship and get dispatched to another company.I also find parts of the job satisfying. I like being able to go through the process of building something — not only seeing it happen but being hands-on with it is very satisfying. It's something that I enjoy a lot, and it's part of what has kept me around.

I'm 26 and working in construction. The job is demanding, but I make $53 an hour in a stable career without student loans

<ul class="summary-list"><li>A neighbor has accused businessman Mark Attanasio of taking sand from a Malibu beach for a project.</li><li>The neighbor said in a lawsuit marine life has been exposed to "potentially hazardous" residues.</li></ul>The neighbor of Business magnate and <a target="_blank" class="" href="https://www.businessinsider.com/brewers-sit-out-wednesday-game-reds-jacob-blake-shooting-2020-8">Milwaukee Brewers</a> owner <a target="_blank" class="" href="https://www.businessinsider.com/finance-millionaires-sports-owners-2011-02">Mark Attanasio</a> has accused him in a new lawsuit of using gigantic excavators to take mounds of sand from a ritzy public <a target="_blank" class="" href="https://www.businessinsider.com/moved-from-malibu-to-las-vegas-california-taxes-too-expensive-2024-1">Malibu</a> beach for a construction project.Malibu homeowner James Kohlberg, the son of the late founder of the global investment firm, <a target="_blank" class="" href="https://www.businessinsider.com/why-private-equity-giants-like-kkr-buying-life-insurance-companies-2020-7">Kohlberg Kravis Roberts &amp; Co.</a>, alleged in the lawsuit that Attanasio's construction crew has been wreaking havoc on posh Broad Beach, exposing local marine life there to "potentially hazardous" residues and restricting public access to the "entirety" of the mile-long coastline."This case is about a private property owner using a public beach as their own personal sandbox and the disturbing conversion of a public natural resource (i.e., sand from Broad Beach) for a nearby homeowner's personal, private use," the civil lawsuit, filed last week in Los Angeles County Superior Court, says.The plaintiff in the lawsuit is listed as Los Trancos Management Services, LLC, and the Los Angeles Times <a target="_blank" class="" href="https://www.latimes.com/california/story/2024-08-13/billionaire-accused-of-stealing-sand-from-malibus-broad-beach-lawsuit-says">reported</a> Kohlberg is behind the limited liability company, which property records show as the owner of a sprawling Broad Beach home that was purchased in 2022 for $14.1 million.Lawyers for the plaintiff did not immediately respond to a request for comment by Business Insider on Wednesday.Kenneth Ehrlich, an attorney for Attanasio, the cofounder of investment management firm Crescent Capital Group, told BI in an email that his client's LLC called 2XMD — which is named as a defendant in the lawsuit — "has acted in 100% compliance with all of its permits."<div type="image" title="Mark Attanasio" height="2682" width="3500" msid="112533235" hostid="261" sizebytes="413004"></div>"Our offices have received the complaint and will aggressively defend our client's rights in this legal process," Ehrlich said in the statement.Attanasio's attorney added, "2XMD and its principals have owned property on this beach for decades and have served as stewards for beach restoration and preservation of natural resources. 2XMD is in the midst of a fully-permitted emergency repair of the property to protect it from ocean forces. It has secured all permits necessary for the repairs from the City of Malibu and LA County as well as thoroughly vetted all contractors and sub-contractors involved in the project."Property records list 2XMD as the owner of a five-bedroom, seven-bathroom Broad Beach home that was purchased in 2007 for $23 million and a lot next door that was bought in 2018 for $6.6 million.The complaint, which does not list Attanasio as a defendant but names him in the complaint as the "beneficial owner" of 2XMD, alleges that for the past several weeks, the defendants removed large amounts of sand from Broad Beach "for one of the Defendants to monopolize and maintain for its exclusive benefit.""Indeed, Defendants operate enormous excavators in tidal zones in the ocean, dragging along any materials, oils, and other pollutants the excavators carry or discharge. Such operations necessarily expose local marine life to potentially hazardous biproducts," the lawsuit says.It continues, "More tangibly, Defendants use these same excavators in tidal zones to scoop significant amounts of sand from Broad Beach, a beach with historic concerns of sand depletion, only to be placed on one of the Defendants' private properties."The lawsuit, which includes photos of excavators on the beach and alleges that the defendants have violated the California Coastal Act, says that the plaintiff has videoed the defendants' "repeated bad acts."Attanasio's LLC applied and got approval for several permits in connection with the repair and reinforcement of the seawall at one of the Broad Beach property that was bought in 2007, the lawsuit says.However, the defendants "have engaged in unauthorized construction and development on Broad Beach in connection with their construction efforts," the complaint says.California construction company, JILK Heavy Construction, is also named as a defendant in the lawsuit.Representatives for the company did not immediately respond to a request for comment.The lawsuit also says the plaintiff has "suffered personal harm, including having depleted sand next to, and in front of, its own property and has been exposed to gasoline oil on the beach and in the water in front of Plaintiff's property."The plaintiff is asking the court to order the defendants to return all the sand it took from Broad Beach, repair any damages, and pay fines.

The owner of an MLB team is accused of taking sand from a public Malibu beach for a construction project at his posh home

<ul class="summary-list"><li>Less than one-third of the semiconductor workforce is female, with few in leadership roles.</li><li>Female employees spoke about their experiences as companies make efforts to close the gender gap.</li></ul>When a young engineering student attended her first recruitment fairs at the Colorado School of Mines, she initially felt discouraged as she tried to break into the semiconductor industry as a chemical engineer."It definitely feels like, oh, they're only picking 10 women and 90 men, and therefore the 10 women they pick are going to be just that much more competitive," said the student who asked not to be identified so she could speak freely, told Business Insider.She went to work as a process engineer at an Intel chip fab in Arizona. Only three out of the 10 people on her team were women, she said. She often felt some of the best resources for the chip fab, like top construction workers, were dedicated to teams with more men, while women were given less leeway to make mistakes."We're very isolated, very often in a resource sense," she said.This dynamic is not specific to one company; <a target="_blank" class="" href="https://www.businessinsider.com/women-utah-silicon-slopes-difficulties-tech-jobs-2023-10">gender disparity</a> is widespread throughout the tech industry. According to a 2023 Accenture analysis, <a target="_blank" href="https://www.accenture.com/content/dam/accenture/final/accenture-com/document-2/Accenture-GSA-Women-In-The-Semiconductor-industry-2023-Survey-Report.pdf#zoom=40">the median representation of women</a> in the semiconductor industry is between 20% and 29%, up from between <a target="_blank" href="https://www.gsaglobal.org/wp-content/uploads/2022/11/GSA-ACN-2022-Women-in-Semiconductor-BRIEF-Final.pdf">20% and 25% in 2022</a>. Over half of companies reported less than 10% representation of women in technical director roles and less than 5% in technical executive leadership roles.As the US is projected to <a target="_blank" class="" href="https://www.semiconductors.org/america-projected-to-triple-semiconductor-manufacturing-capacity-by-2032-the-largest-rate-of-growth-in-the-world/">triple</a> its domestic chip manufacturing and generative AI could become a <a target="_blank" class="" href="https://www.bloomberg.com/company/press/generative-ai-to-become-a-1-3-trillion-market-by-2032-research-finds/">$1.3 trillion</a> market by 2032, building an inclusive workforce will be critical to developing the technology and ensuring that the economic boom benefits as many people as it can.Part of that is a challenge in the education pipeline. Although they make up the majority of undergraduate and advanced degrees, women make up <a target="_blank" href="https://swe.org/research/2024/degree-attainment/">less than 23%</a> of engineering and computer science graduates. This percentage <a target="_blank" href="https://www.pewresearch.org/social-trends/2021/04/01/stem-jobs-see-uneven-progress-in-increasing-gender-racial-and-ethnic-diversity/">drops even more</a> among minorities, as <a target="_blank" class="" href="https://swe.org/research/2024/degree-attainment/">Black and Latina women</a> comprised less than 4% of engineering graduates and 5% of computer science graduates over the past 10 years.Recruiters for the chips industry said that closing the gap within hiring can sometimes be a sensitive topic as gender is a protected class in antidiscrimination laws. While the chip industry makes efforts to expand the recruiting pool in general so that hiring can be more inclusive, the changes can feel incremental.According to the most recently published corporate social responsibility reports, about 20% of <a target="_blank" class="" href="https://images.nvidia.com/aem-dam/Solutions/documents/FY2024-NVIDIA-Corporate-Sustainability-Report.pdf">Nvidia's total workforce</a> are women. Women make up about 15% of technical roles, 18% of managers, and 40% of executive officers. <a target="_blank" class="" href="https://www.amd.com/en/corporate/corporate-responsibility/esg-data-tables.html">AMD's workforce</a> is 24% women. About 19% of engineers, 14% of senior management, and 17% of the executive team are women. Women make up 28% of <a target="_blank" class="" href="https://csrreportbuilder.intel.com/pdfbuilder/pdfs/CSR-2023-24-Full-Report.pdf">Intel's workforce</a>, and they hold 25% of technical roles and 19% of senior leadership. <a target="_blank" class="" href="https://www.micron.com/content/dam/micron/global/public/documents/about/diversity-and-inclusion/2023-diversity-and-inclusion-report.pdf">At Micron</a>, 31% of its total global workforce is made up of women, and they hold 25% of technical roles, 17% of senior leadership roles, and 21% of leader roles."Intel has a long track record of fostering a diverse and inclusive culture, and it is core to our values," an Intel spokesperson said in a statement.Intel <a target="_blank" class="" href="https://csrreportbuilder.intel.com/pdfbuilder/pdfs/CSR-2023-24-Full-Report.pdf">set goals</a> to increase its female senior leadership representation to 25% and technical roles to 40% by 2030. The Intel spokesperson also pointed to its <a target="_blank" href="https://www.intel.com/content/www/us/en/newsroom/news/intels-first-us-apprenticeship-for-manufacturing-technicians.html#gs.e7dyxb">first registered apprenticeship program</a> for manufacturing facility technicians for its Arizona fabs, of which all of the selected participants are women."We treat all employees with fairness and respect and don't tolerate behavior that is contrary to those values," the spokesperson added.Both <a target="_blank" href="https://www.amd.com/content/dam/amd/en/documents/corporate/cr/corporate-responsibility-report.pdf#page=48">AMD</a> and <a target="_blank" href="https://affiliate.insider.com?h=a4ac2b73c1c514109e91f0be9bf14a0d79fc38bcd49fb86fb71c71c2eed432ce&amp;postID=66cd2c227d61a86c1876c776&amp;postSlug=chip-companies-nvidia-intel-gender-gap-ai-boom-2024-8&amp;site=bi&amp;u=https%3A%2F%2Fwww.nvidia.com%2Fen-us%2Fon-demand%2Fsession%2Fgtcspring23-se52644%2F">Nvidia</a> have employee resource groups focused on women in tech. An Nvidia spokesperson declined to comment on this story. An AMD spokesperson said the number of female engineers and participants in their pipeline mentoring programs has increased in the last five years and that the company has collaborated with the Global Semiconductor Alliance to recruit female engineers at the University of Texas at Austin and MIT. Pipeline program participants also cited in a 2023 survey, an improvement in their perception of growth and development at the company. Micron did not respond to requests for comment at the time of publication.<h2 id="f746dd30-b0bf-4eec-9c37-7c263414fbd7">Few women in leadership</h2>One former Intel process engineer, who still works in the chips industry, said she decided to leave the company because she felt that it could be a "hostile environment" at times, with male engineers challenging her when they were not rewarded with projects. The engineer, whose identity is known to Business Insider, asked to remain anonymous because she's not authorized to speak to the press."There were also other high-performing men on my team who were getting the same projects and same opportunities as me, but there were never any complaints made about them," she said.Although Intel made more efforts to hire women, she said she did not see as much effort in promotion. Out of hundreds of people in her department, only two managers were female, she said.A lack of women in leadership can create the perception that female employees have no room to grow, resulting in a higher turnover rate."Attracting talent without a plan to retain the talent just really creates the same cyclical problem," said Jared Tatham, a managing director at Insight Global who oversees its semiconductor recruitment portfolio.<h2 id="2f606934-b1c0-4157-9b12-1401d857878e">Reducing bias in hiring</h2>Clients have requested more gender diversity in the pipeline, said Luke Tomaszko, a managing principal consultant at Acceler8 Talent who works with early-stage hardware companies that focus on AI chip design. He said startups must be conscious of this as they build out the culture and makeup of their teams."The industry can be so male-dominated that if you have a team of 100 men, then it's not really a welcoming environment for a woman to come in," Tomaszko said.Insight Global's Tatham works with clients that range from material suppliers for equipment at foundries to companies that do chip design, testing, and packaging. He said he makes it a goal to reach out with calls more personally with potential candidates rather than just rely upon the job descriptions since <a target="_blank" class="" href="https://hbr.org/2022/07/apply-to-a-job-even-if-you-dont-meet-all-criteria">men are more likely</a> to apply for jobs even if they don't meet all the criteria.Tomaszko said that before posting job descriptions, his agency runs the listings through tools such as a <a target="_blank" href="https://adminvc.ucla.edu/equity/hiring-guide/gender-decoder">gender decoder</a> to review words that may have a gender-biased leaning.<h2 id="a8c5aaf0-fcbe-47d6-b532-9085cb10fdb8">Demanding schedules and childcare</h2>The CHIPS and Science Act spurred some efforts to reduce childcare costs. Micron received <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/25/fact-sheet-president-biden-announces-up-to-6-1-billion-preliminary-agreement-with-micron-under-the-chips-and-science-act/">$6.1 billion</a> in funding this year, including for the construction of new childcare facilities in Idaho and New York. However, childcare is only one facet of improving the pipeline.The schedule of a chip fab may also be a challenge. The former Intel process engineer said that the on-call schedule, which meant she would have to cover in case anything went wrong at the factory, was "definitely" something that made her think about how it would affect longer-term family planning."When you're woken up multiple times during the night, and then you have to do your whole day the following day, I imagine that'd be particularly challenging for birthing mothers. You'd have to stay physically within two hours of the factory that entire week, just in case of any emergency," she said.Closing the gender gap in the chip industry will require more efforts from companies and top leadership to make these career paths more inclusive and stable. Some women say there have been some improvements in inclusivity and building community.The former process engineer said that she now takes part in an all-women cohort at her company that has monthly meetings. In these meetings, they discuss podcasts and readings about leadership, and company veterans and newcomers alike can share different ideas."It's not just like one person leading it. There are several different cohorts with different leaders, and it really just seems to be supported by our senior management," she said.Got a tip or an insight to share? Contact the reporter Helen Li at <a target="_blank" href="mailto:ecosgrove@businessinsider.com">hli@insider.com</a> or use the secure-messaging app Signal with the username: hliwrites.99.

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Thane family loses Rs 1.2 crore as they get cheated by construction company, details here

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