Summer 2010
Posted August 12, 2010
Read the Full Newsletter
In this issue:
The first six months of 2010 saw the passage of two pieces of legislation that loom large in the immediate and long-term future of the construction industry. One has the potential to boost employment opportunities through the end of 2010, while the other is only beginning to unfold and the full impact will not be known for years.
There is at least one certainty in the uncertain real estate market: an abundance of commercial properties that are either in default, or teetering on the edge of default. For potential buyers who have been sitting on cash, waiting for the market to stabilize, there appears to be plenty of opportunities to snap up bargains across the country.
Contractors who have weathered the recession may now find themselves in a sort of economic “catch-22.” After fighting to keep the doors open through the darkest days of the recession, they are now seeing less-than-stellar financials due to reduced revenue, dwindling cash reserves and a growing debt load. As a result, they may not be able to get the surety backing they need to win the large contracts that will ultimately put them back on solid ground.
