Author Archives: William T. Solomon, Former CEO & President & ESOP Founder, Austin Industries

About William T. Solomon, Former CEO & President & ESOP Founder, Austin Industries

William T. Solomon is Austin’s former CEO & President and Austin ESOP founder, Dallas/Fort Worth's largest construction management and general contracting company, founded by his grandfather in 1918 and now owned by its 6,000 employees. He serves on the board of trustees of Southern Methodist University and is a director of A.H. Belo Corporation. He is a past board chairman of the Dallas Citizens Council and the Greater Dallas Chamber and was a founding co-chairman of Dallas Together Forum. In 1995 he was named Texas Minority Business Advocate of the Year by the Small Business Administration and was inducted into the Texas Business Hall of Fame. Notably, he was the first recipient of the Jerry R. Junkins Advocacy Award for extraordinary commitment to minority business and economic development, conferred by the DFW Minority Business Development Council. Mr. Solomon is a civil engineering graduate of SMU and also holds an MBA (Baker Scholar) from Harvard Graduate School of Business.

Construction Delivery Systems:

(This story was originally published in the Dallas Business Review – Volume VIII. It has been edited slightly for length.) We were doing great until we built our new headquarters building last year. The construction was a nightmare! Yeah, we doubled our manufacturing space, but spent about 30% more than we could afford – and we’ll probably end up in the courthouse with the contractor before it’s all said and done. Our competitor beat us to the market because our contractor let the project stall and we missed our target for move-in by three and a half months. Sound familiar? In each of these scenarios, the owners’ outcomes didn’t meet their expectations. More and more, construction project delivery systems are being designed to control outcomes and give owners more certainty as to cost (including life-cycle costs), quality, schedule, and even certainty in terms of the level of an owner’s risk and the involvement of the owner’s staff in the construction process.

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Topics: CMAR.