Letter to NV5 Shareholders ($NVEE)

Dear NV5 Shareholder,

I am writing about your shares of NV5, the engineering and construction company. The upcoming Annual Shareholder meeting is taking place at Red Rock Resort, a non-union casino in Las Vegas where workers have been fighting for dignity and respect for years. We are asking you not to participate in any event that takes place at this property.

You should also know that multiple members of NV5 leadership have expressed support for President Trump. NV5 CEO Dickerson Wright made four donations to the Trump Make America Great Again committee in 2016. Also, on January 25, 2017, NV5 Senior Vice President Kevin Wedman tweeted:



Given this information, you should consider whether NV5 is the right investment for you.

Additionally, you should pose the following questions to NV5 leadership before voting on their proposed slate for the Board of Directors:

  •  Did NV5 bid on President Trump’s proposed wall on the Mexican border?

Although Customs and Border Patrol is not releasing the names of bidders, you can ask NV5 leadership.

  • How will Kevin Wedman’s support for the border wall and Dickerson Wright’s support for President Trump impact future contracts with the State of California and Californian cities and counties?

The state of California has represented over a third of NV5 gross revenues in 2014, 2015, and 2016.[1] However, California Senate Bill 30 would prohibit any company from receiving a new or extended contract with the state of California if it participates in building a border wall.

Additionally, the San Francisco Board of Supervisors is considering an ordinance that would prohibit contracting with companies who bid on the border wall. Also, the Los Angeles City Council recently passed a motion requesting the City Attorney to prepare and introduce an ordinance requiring contractors to disclose if they are involved in building the border wall.

Lastly, while this would not affect NV5’s ability to secure contracts, California Assembly Bill 946 does indicate the level of animus amongst some California public officials regarding the border wall and the companies who help to build it. The bill would require the California Public Employee Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) to liquidate within 12 months any investments in companies involved in the construction of the president’s wall.

  • How will uncertainty over the California budget impact NV5’s ability to secure future contracts?

The NV5 Form 10K from May 2017 states, “California state budgetary constraints may have a material adverse impact on us…Ongoing uncertainty as to the timing and accessibility of budgetary funding, changes in state funding locations to local agencies and municipalities, or other delays in purchasing for, or commencement of, projects may have a negative impact on our gross revenues and net income.”[2]

Indeed, the State’s summary in the 2017-2018 May Budget Revision was not exactly confident:

Over the past year, however, state revenues began to lag expectations. Compared to the 2016 Budget signed in June, the January Budget revenue forecast reflected a $5.8 billion reduction. Since January, the stock market has surged. As a result, the May Revision reflects higher revenues of $2.5 billion. Yet, this forecast remains $3.3 billion below the 2016 Budget forecast from one year ago. Consequently, the budget—which remained precariously balanced even in the strongest revenue years—is considerably more constrained than in any year since 2012.[3]

  • Is Lauren Wright related to Dickerson Wright? What qualifies Lauren Wright to be Director of Investor Relations? Is this her full time job?

Lauren Wright has a Ph.D. in Government, and is beginning a teaching appointment at Princeton University in Fall 2017. She has been involved in the California Republican Party, and is on the board of the White House Transition project.[4] She has a wealth of training and expertise in the world of politics; does she have experience with corporate communications or dealing with investors?

Also, does Dr. Wright devote her full attention to her duties at NV5? Dr. Wright published a book in April 2016, over a year after she first appeared on a press release for NV5.[5] Does she intend to keep her position at NV5 while teaching at Princeton? Will that arrangement allow NV5 to adequately address the needs and demands of its shareholders?

Please respond within five (5) business days to advise whether you will raise these questions with NV5 leadership, and whether you will continue to own shares of NV5.


Levi Pine

Culinary Workers’ Union Local 226

1630 S Commerce Street

Las Vegas, NV 89102



[1] NV5 Global, Inc. (2017). Form 10-K 2017. Page 20. Retrieved from SEC EDGAR website https://www.sec.gov/edgar.shtml

[2] Ibid.

[3] State of California 2017-2018 May Budget Revision, Page 2. https://www.ebudget.ca.gov/FullBudgetSummary.pdf

[5] NV5. 2015. “NV5 Appoints Francois Tardan to Board of Directors” [Press Release] Accessed from https://ir.nv5.com/phoenix.zhtml?c=251703&p=irol-newsArticle_print&ID=2011911

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