These days, global positioning systems (GPS) seem about as ubiquitous as cordless tools in the construction industry. Cordless tools transformed worksites by offering construction workers freedom from electrical outlets. In the same way, GPS is transforming how construction firms manage tools and equipment by boosting profits and improving the bottom line. Most construction executives are well-versed in the costs associated with tool and equipment theft. According to an oft-quoted 2007 survey conducted by The National Equipment Registrar, contractors lose $300 million to $1 billion annually because of decreased productivity and business interruptions from lost or stolen construction resources. More than 71 percent of equipment owners have experienced equipment theft in the past year, with as little as 6.5 percent of it ever being recovered. This...