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.

Tower Automotive-Century City Pictures

Brief Update

It was my intention to update this Blog on a regular basis yet circumstances borne of late have dictated that I focus my energy on a project which will have a significant impact on the greater Milwaukee market in the coming months - more information to follow as prudence allows in the timing of such a news release.

Otherwise, a brief news article from the “The Dispatch and The Rock Island Argus” from our work at the former Trinity Nursing School in Moline, Illinois. Following cleanup, Champion Environmental Services, Inc. will demolish the associated structures.

Debris removal begun at nurses dormitory in Moline

MOLINE-- Contractors from Champion Environmental have begun removing debris piles and two inches of top soil from the former nurses dormitory in One Moline Place.

The dirt and debris has to be removed because it contains asbestos. Moline city administrator Lew Steinbrecher said the next step, before demolition of the building, will be testing the upper floors for residual asbestos.

"Depending on the results, a decision will be made about demolition," he said. "We are approaching the time when hopefully a date will be set relatively soon for demolition of the building."

One Moline Place is a residential development between 4th and 8th streets and 5th and 11th avenues first announced in 2002. While Phase I was partially developed, Phase II-- where the dormitory sits -- and Phase III never were started.

The property is owned by Mike Shamsie, but through an agreement with Northwest Bank and Trust and the city, he will give Moline the Phase II and III land after demolition is complete. A new developer plans to take over Phase I and complete the development.

Mr. Steinbrecher said an environmental consultant is coordinating the clean-up with Champion Environmental, Mr. Shamsie and the Illinois EPA.

By Dawn Neuses, dneuses@qconline.com

Century City Video

Tower Automotive-Century City

Champion Environmental Services, Inc. is kicking off the redevelopment of Milwaukee’s shuttered Tower Automotive property as part of the city's $34.6 million plan to redevelop an 84-acre portion of the site. Most of the area is being transformed into a business park; Spanish train manufacturer Talgo is the first tenet to lease a portion of the development.

Century City will be the new venue for U.S. high-speed passenger rail manufacturing and assembly creating 125 direct jobs in Wisconsin and about 450 indirect jobs through vendors throughout the Midwest.

In January, Governor Doyle announced Wisconsin will receive $823 million in American Recovery and Reinvestment Act funds to build high-speed rail service to connect its centers of commerce. Wisconsin is receiving $810 million to build high-speed passenger rail service between Milwaukee and Madison, $12 million to improve service between Chicago and Milwaukee, and $1 million to make final determinations on a route between Wisconsin and the Twin Cities – the next step toward connecting Chicago, Milwaukee and Madison with the Twin Cities.

Champion Environmental Services, Inc. is proud to support this important economic initiative. Some pictures of our demolition work are below.

What Demolition Wrought-Another Tale

I firmly believe that it is essential to highlight the outcomes of our efforts to dismiss the fallacy that demolition is singular destruction. The Fact is that our environmental and demolition work not only betters the environment, but creates economic opportunity. While many would bemoan the closing and subsequent demolition the car dealership in Wauwatosa, the new Dave & Busters will generate additional jobs, enhance the local tax base, and provide a quality venue for residents.

80% of the demolition debris from the former dealership was recycled; additionally, Champion Environmental Services, Inc. removed two buried underground fuel storage tanks. I can definitively state that our company does more for the environment on any given day than most self-proclaimed eco-friendly people achieve in a lifetime.

Below is an article that appeared in the “Biz Times Real Estate Weekly”.

Dave and Busters opens in Wauwatosa

Dallas-based Dave & Busters, a national chain of restaurant and entertainment centers, this week opened its first Wisconsin location at 2201 N. Mayfair Road in Wauwatosa.

The 35,000-square-foot Dave & Busters building was built on a site formerly occupied by a Ewald Chrysler/Dodge/Jeep dealership.
The Wauwatosa Dave & Busters location has nearly 200 games ( including classic skill and arcade games plus simulators and billiards), 24 flat screen televisions and a high definition projector screen, a full bar, restaurant and two private conference rooms.

“Dave & Buster’s is a totally new concept in the greater Milwaukee area where guests can eat, drink and play under one roof,” said Wauwatosa restaurant general manger Esther Gomez.

On average, Dave & Buster’s stores get half a million guests each year. Most visitors are adults 21 years of age and older.

“People in Wisconsin love to go out and have fun,” said Wauwatosa Chamber of Commerce Executive Director Meg McKenna. “We have been asking for a place like this for a long time. Dave & Buster’s will be a great addition to the community.”

School of Human Ecology

Champion Environmental Services, Inc. is getting ready to submit notification for work at the University of Wisconsin School of Human Ecology.

The scope of work involves multifaceted tasks including building demolition, asbestos abatement, selective/interior demolition, and historic salvage.

A small two story brick building approximately 4,264 square feet will be demolished. An additional three story brick building measuring 24,000 square feet will also be wrecked; various historic portions of this structure will be dismantled and preserved.

The School of Human Ecology is a five story building encompassing 76,000 square feet. All five floors will be gutted from floor to ceiling. We will also be responsible for removing/recycling the hydraulic oils from the elevators prior to demolition of the elevator.

This project should begin in the week of March 15, 2010.