The insanity continues - bid results just into our office. The scope here is an extensive amount of ACM pipe and associated fittings. While 85% of the abatement is readily exposed, some selective demolition is involved to reach part of the chases. An additional quantity of ACM floor mastic rounds the project.
Despite the public nature of these bid results, I still feel it is of little value to debase a competitor by naming each company here.
$77,550
$71,100
$63,550
$58,850
$43,820
$36,641
The numbers, particularly the low bid at $36,641, reflects troubled insensibility that has polluted our industry.
Showing posts with label 2010 economy. Show all posts
Showing posts with label 2010 economy. Show all posts
Monday, September 20, 2010
Wednesday, August 25, 2010
The Spirit of the Beast
Headline just read from the AP “Recovery in danger as firms, homebuyers cut back”. The operative work here, “recovery” is beyond inappropriate, and at best, belies significant intellect regarding the current economic malaise.
Who is feeling any sense of recovery?
Real estate offices peddling distressed properties to opportunistic buyers.
Case in point, a new home in my neighborhood that was built and sold in 2007 for $1.4 million slid into foreclosure several months ago. Out of curiosity, I hawked the estate tracking down the details to find it to market only last week for $594,000.
I spoke directly to the listing agent who stated that there were 6 legitimate standing offers before the house even hit the MLS. Now, I rarely believe a single word any real estate agent tells me (other than mine who has been a trusted advisor for over 10 years) but I was able to confirm that there were in fact more than 6 offers.
This niche industry has its own written prophecy to be recognized on an eventual upside; this market will go away one day, but what about right now?
One of the few points in the AP article I agreed with state that “ . . .new home sales fell 12.4 percent in July from a month earlier to a seasonally adjusted annual sales pace of 276,600. That was the slowest pace on records dating back to 1963. Collectively, the past three months have been the worst on record for new home sales.
The weak sales mean fewer jobs in the construction industry, which normally powers economic recoveries. Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.
The two reports are likely to stoke fears that the economy is on the verge of slipping back into a recession.” (emphasis mine)
As I stated in My August 13, 2010 post entitled Forecasting In An Era Of Information Immediacy, in part, the immediate 24/365 news cycle alone will not provide an accurate platform to hedge the market. One must empirically derive signs and signifiers to calculate business positions.
My neighborhood reflects and confirms much of the data from the news wires.
Where new home construction was so abundant - in a fully mature northwest suburb just outside of Chicago - you could not look in any direction in any quadrant without seeing orange fencing, now, only custom, contracted projects appear.
Public servant positions have been eliminated and hiring frozen. The community chest is an empty box. Nearly every million and multi-million property is either for sale, in foreclosure, or tepidly holding out. A heavy surplus of existing homes go unsold and rentable apartments are in short supply as those who would once rent and save to purchase are now just staying put. Retail space is full with few empty spaces, but foot traffic is minimal. Several large office suite complexes are entirely empty – thankfully, they are well maintained as the only indication that all is not well is huge empty parking lots behind the buildings. A large townhouse project started 7 months ago has only one sold unit, the infrastructure of streets/sewers/lights await.
Something Wicked This Way Comes. And laughter will not save us.
Who is feeling any sense of recovery?
Real estate offices peddling distressed properties to opportunistic buyers.
Case in point, a new home in my neighborhood that was built and sold in 2007 for $1.4 million slid into foreclosure several months ago. Out of curiosity, I hawked the estate tracking down the details to find it to market only last week for $594,000.
I spoke directly to the listing agent who stated that there were 6 legitimate standing offers before the house even hit the MLS. Now, I rarely believe a single word any real estate agent tells me (other than mine who has been a trusted advisor for over 10 years) but I was able to confirm that there were in fact more than 6 offers.
This niche industry has its own written prophecy to be recognized on an eventual upside; this market will go away one day, but what about right now?
One of the few points in the AP article I agreed with state that “ . . .new home sales fell 12.4 percent in July from a month earlier to a seasonally adjusted annual sales pace of 276,600. That was the slowest pace on records dating back to 1963. Collectively, the past three months have been the worst on record for new home sales.
The weak sales mean fewer jobs in the construction industry, which normally powers economic recoveries. Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.
The two reports are likely to stoke fears that the economy is on the verge of slipping back into a recession.” (emphasis mine)
As I stated in My August 13, 2010 post entitled Forecasting In An Era Of Information Immediacy, in part, the immediate 24/365 news cycle alone will not provide an accurate platform to hedge the market. One must empirically derive signs and signifiers to calculate business positions.
My neighborhood reflects and confirms much of the data from the news wires.
Where new home construction was so abundant - in a fully mature northwest suburb just outside of Chicago - you could not look in any direction in any quadrant without seeing orange fencing, now, only custom, contracted projects appear.
Public servant positions have been eliminated and hiring frozen. The community chest is an empty box. Nearly every million and multi-million property is either for sale, in foreclosure, or tepidly holding out. A heavy surplus of existing homes go unsold and rentable apartments are in short supply as those who would once rent and save to purchase are now just staying put. Retail space is full with few empty spaces, but foot traffic is minimal. Several large office suite complexes are entirely empty – thankfully, they are well maintained as the only indication that all is not well is huge empty parking lots behind the buildings. A large townhouse project started 7 months ago has only one sold unit, the infrastructure of streets/sewers/lights await.
Something Wicked This Way Comes. And laughter will not save us.
Wednesday, August 11, 2010
2010 - Is It Over Yet?
Mark Anthony of “Demolition News” has become an invaluable resource concerning an exhaustive number of issues related to the demolition and environmental industry. His insights span the European landscape then pierce across the Atlantic with empirical precession.
While I have yet to meet Mark Anthony in person, our evolving friendship echoes an epistolary tradition visa via the advantages of technology, namely, the Internet.
A recent article by Anthony entitled, “Comment – How do we keep outsiders out…?” addresses the problematic atmosphere of unqualified contractors creeping into public and private bid opportunities. I have spoken ad nauseam of the safety caveat owners create when they hire incompetent outfits; the greater concern is my inability to clarify why such companies have not collapsed under the current economic mass.
As I stated to Anthony in a recent letter, in part, inept firms are “ . . . invading bid opportunities like rabid roaches”.
The very basic root of economic tenets guiding the winners/losers of a recession has been infected by distemper.
Here is a link to the article written by Mark Anthony.
http://www.demolitionnews.com/2010/07/29/comment-how-do-we-keep-outsiders-out/
While I have yet to meet Mark Anthony in person, our evolving friendship echoes an epistolary tradition visa via the advantages of technology, namely, the Internet.
A recent article by Anthony entitled, “Comment – How do we keep outsiders out…?” addresses the problematic atmosphere of unqualified contractors creeping into public and private bid opportunities. I have spoken ad nauseam of the safety caveat owners create when they hire incompetent outfits; the greater concern is my inability to clarify why such companies have not collapsed under the current economic mass.
As I stated to Anthony in a recent letter, in part, inept firms are “ . . . invading bid opportunities like rabid roaches”.
The very basic root of economic tenets guiding the winners/losers of a recession has been infected by distemper.
Here is a link to the article written by Mark Anthony.
http://www.demolitionnews.com/2010/07/29/comment-how-do-we-keep-outsiders-out/
Thursday, May 20, 2010
State of the State Part II
Back on March 1, 2010, I solicited several assumptions regarding how local and global economic forces were influencing our bottom line. An AP report out of New York released just moments ago suggests that my key assertions were correct.
On March 1 I stated, “Market indicators remain in an unnerving pattern; one of the more intimidating trends I noted was a triumvirate blend of a strong dollar, positive gold movement, paired with creeping oil – I dare someone to place this scenario into sane context”.
The AP today: “The euro is falling again and continues to hover near a four-year low. It has become a key indicator for confidence in Europe's economy. The euro fell to $1.2318, a day after hitting $1.2146 . . . Crude oil fell $2.73 to $67.14 per barrel on the New York Mercantile Exchange.”
Gold remains at $1,191.80 an ounce despite loosing approximately 1% over two days.
I further stated on March 1 that “While January housing sales posted an increase, numbers also indicated a slight uptick in housing starts yet more bubbles await us. Significant commercial lending is coming due and as a result, many speculate more bank failures. Additionally, consumer spending remains tepid, no significant positive impact coming out of job creation, and European dept reflected in the so called “PIGS” - Portugal, Ireland, Greece and Spain, point to the potential for another significant economic slide.” My added emphasis is vital given such an accurate prognosis; as the AP notes today: “. . .the [Labor] department said new claims for unemployment benefits rose by 25,000 to 471,000, their largest amount in three months. . . Greek workers again took to the streets protesting recently approved budget cuts that were necessary for the country to receive a bailout. Greece was able to repay debt that came due Wednesday only because it had access to a rescue package from the European Union and International Monetary Fund. . . in afternoon trading, Britain's FTSE 100 fell 2.6, Germany's DAX index dropped 2.8 percent, and France's CAC-40 plummeted 3.9 percent.”
Certainly I take no pride in being correct on these assumptions as global – economically driven factors reach directly into the fissure of our cavernous lint- filled pockets. So where do we sit in the state of the state?
I encourage you to visit Mark Anthony over at “Demolition News” and read his posting, Comment – Is demolition perpetuating the recession…? Here is the link:
www.demolitionnews.com/2010/05/20/comment-is-demolition-perpetuating-the-recession
My apologies as I cannot get the link to set so you must copy/paste.
On March 1 I stated, “Market indicators remain in an unnerving pattern; one of the more intimidating trends I noted was a triumvirate blend of a strong dollar, positive gold movement, paired with creeping oil – I dare someone to place this scenario into sane context”.
The AP today: “The euro is falling again and continues to hover near a four-year low. It has become a key indicator for confidence in Europe's economy. The euro fell to $1.2318, a day after hitting $1.2146 . . . Crude oil fell $2.73 to $67.14 per barrel on the New York Mercantile Exchange.”
Gold remains at $1,191.80 an ounce despite loosing approximately 1% over two days.
I further stated on March 1 that “While January housing sales posted an increase, numbers also indicated a slight uptick in housing starts yet more bubbles await us. Significant commercial lending is coming due and as a result, many speculate more bank failures. Additionally, consumer spending remains tepid, no significant positive impact coming out of job creation, and European dept reflected in the so called “PIGS” - Portugal, Ireland, Greece and Spain, point to the potential for another significant economic slide.” My added emphasis is vital given such an accurate prognosis; as the AP notes today: “. . .the [Labor] department said new claims for unemployment benefits rose by 25,000 to 471,000, their largest amount in three months. . . Greek workers again took to the streets protesting recently approved budget cuts that were necessary for the country to receive a bailout. Greece was able to repay debt that came due Wednesday only because it had access to a rescue package from the European Union and International Monetary Fund. . . in afternoon trading, Britain's FTSE 100 fell 2.6, Germany's DAX index dropped 2.8 percent, and France's CAC-40 plummeted 3.9 percent.”
Certainly I take no pride in being correct on these assumptions as global – economically driven factors reach directly into the fissure of our cavernous lint- filled pockets. So where do we sit in the state of the state?
I encourage you to visit Mark Anthony over at “Demolition News” and read his posting, Comment – Is demolition perpetuating the recession…? Here is the link:
www.demolitionnews.com/2010/05/20/comment-is-demolition-perpetuating-the-recession
My apologies as I cannot get the link to set so you must copy/paste.
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