The Simple Reason Millennials Aren't Moving Out Of Their Parents' Homes: They're Crushed By Debt
February 26, 2015 —
Nina Glinski – BloombergMillennials are not budging from their parents' basements, even though the job market is on the mend. One really big reason? Student loans.
Last year, the rate of 25- to 34-year-olds living at home rose to 17.7 percent among men and 11.7 percent for women, Census data showed last week. That is a record high for both genders.
Rising co-residence rates are correlated more closely with student debt than with factors like economic conditions and the housing market, according to a staff report in November from the Federal Reserve Bank of New York. The regional bank wrote about the trend today in its blog called "Liberty Street Economics."
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Nina Glinski, Bloomberg
Cogently Written Opinion Finds Coverage for Loss Caused By Defective Concrete
November 07, 2012 —
Tred Eyerly, Insurance Law HawaiiIf ever in need of a concise, well-reasoned opinion on “occurrence,” “property damage” and applicability of the business risk exclusions, turn to Pamperin Rentals II, LLC v. R.G. Hendricks & Sons Construction, Inc., 2012 Wis Ct. App. LEXIS 698 (Wis. Ct. App. Sept. 5, 2012).
A contractor was hired to install concrete during construction of seven gas stations. Red-D-Mix provided the concrete. The contractor and Red-D-Mix were eventually sued by the gas stations, based upon allegations that the concrete was defectively manufactured and installed. The gas stations alleged that Red-D-Mix supplied concrete that was defective and resulted in damages, including the need to repair nearby asphalt.
Red-D-Mix tendered to its insurers, who denied coverage. Suit was filed and the insurers moved for summary judgment. The trial court determined there were no allegations of either “property damage” or an “occurrence.” Therefore, there was no duty to defend or indemnify Red-D-Mix.
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Tred R. Eyerly, Insurance Law Hawaii. Mr. Eyerly can be contacted at
te@hawaiilawyer.com
First Circuit Rejects Insurer’s “Insupportable” Duty-to-Cooperate Defense in Arson Coverage Suit
October 24, 2023 —
Geoffrey B. Fehling & Yaniel Abreu - Hunton Insurance Recovery BlogIn
Philadelphia Indemnity Insurance Co. v. BAS Holding Corp., the Court of Appeals for the First Circuit rejected an insurer’s “insupportable” defense that the insured company had breached its duty to cooperate by refusing the insurer’s request for an examination under oath of the company’s president. The decision is a reminder that, while examinations under oath can be effective tools to allow the insurer to properly investigate a claim, an insured’s duty to cooperate is not boundless and does not demand attendance at examinations that are not reasonably requested.
Background
BAS Holding involves the destruction of a landmark building in Boston by an arsonist. The owner, BAS Holding Corporation, submitted an insurance claim to its property insurer to recover insurance proceeds for the damage to the building. The insurer investigated the claim to determine whether the damage to the building was covered and issued a reservation of rights letter suggesting that the policy may not provide coverage for the fire. As part of its investigation, the insurer requested an examination under oath as a condition to coverage under the policy, which led to BAS presenting the property’s operations coordinator for an interview. Shortly after examining the operations coordinator, the insurer sought another examination of BAS’s president and owner, as well as five other employees. In response, BAS questioned whether the additional examinations were “reasonably required” and said that it would consider the requests if the insurer could explain why they were necessary.
Reprinted courtesy of
Geoffrey B. Fehling, Hunton Andrews Kurth and
Yaniel Abreu, Hunton Andrews Kurth
Mr. Fehling may be contacted at gfehling@HuntonAK.com
Mr. Abreu may be contacted at yabreu@HuntonAK.com
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Quick Note: Aim to Avoid a Stay to your Miller Act Payment Bond Claim
February 23, 2017 —
David Adelstein – Florida Construction Legal UpdatesStrategy is important. This is especially true if you are trying to avoid arbitration. In a recent federal district court case, a subcontractor sued the prime contractor and the Miller Act payment bond surety. The subcontractor, however, had an arbitration provision in its subcontract with the prime contractor. The prime contractor moved to compel arbitration pursuant to the subcontract and moved to stay the subcontractor’s Miller Act payment bond claim. The last thing, and I mean the last thing, the subcontractor wanted to do was to stay its claim against the Miller Act payment bond. However, the district court compelled the subcontractor’s claim against the prime contractor to arbitration and stayed the subcontractor’s Miller Act payment bond claim pending the outcome of the arbitration. See U.S. v. International Fidelity Ins. Co., 2017 WL 495614 (S.D.Al. 2017). This is not what the subcontractor wanted.
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David Adelstein, Florida Construction Legal UpdatesMr. Adelstein may be contacted at
dadelstein@gmail.com
Canada Housing Starts Increase on Multiple-Unit Projects
October 08, 2014 —
Greg Quinn – BloombergCanadian housing starts rose 0.5 percent last month led by multiple-unit work, government figures showed.
Work started on 197,343 units at a seasonally adjusted annual pace in September, Ottawa-based Canada Mortgage & Housing Corp. said today, close to the 198,000 median forecast in a Bloomberg economist survey with 18 responses.
Multiple-unit projects such as condominiums and apartments rose 2.4 percent to 114,579 units. Single-family homes declined 2.9 percent to 62,440 units.
Canada may need tougher rules to slow gains in the housing market, the International Monetary Fund said yesterday. Much of the attention has focused on high prices and robust construction of condos in Vancouver and Toronto.
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Greg Quinn, BloombergMr. Quinn may be contacted at
gquinn1@bloomberg.net
Turner Construction Selected for Anaheim Convention Center Expansion Project
May 21, 2014 —
Beverley BevenFlorez-CDJ STAFFThe Anaheim, California city council selected Turner Construction Company “to manage a $180 million expansion of the Anaheim Convention Center, a venue that hosted 238 tradeshows, conventions, meetings and consumer events in 2013,” according to Construction Digital.
“Turner’s Southern California office calls Anaheim home, and we are pleased to be working on such a great project in our own backyard,” Kevin Dow, Vice President and General Manager of Turner’s Southern California office told Construction Digital.
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Congratulations to BWB&O’s 2021 Super Lawyers Rising Stars!
July 05, 2021 —
Dolores Montoya - Bremer Whyte Brown & O'Meara LLPBremer Whyte Brown & O’Meara, LLP is excited to announce Partners Kyle Carroll, Nicole Nuzzo, and Michael D’Andrea, as well as Associates Andy Arakelian and Andrew Steinberg, have been selected to the 2021 Super Lawyers Southern California Rising Stars for their work in Civil and Family litigation!
Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The patented selection process includes independent research, peer nominations, and peer evaluations.
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Dolores Montoya, Bremer Whyte Brown & O'Meara LLP
How Construction Contracts are Made. Hint: It’s a Bit Like Making Sausage
October 07, 2016 —
Garret Murai – California Construction Law BlogConstruction can be a messy affair. In a sense, that’s to be expected when you’re building a complex structure, involving the coordination of several parties and numerous persons, in the natural environment and in the elements, subject to an increasing array of laws, regulations, ordinances and codes, and often at the cost of hundreds if not billions of dollars.
So too can construction contracts.
There’s the plans, the specifications, the general conditions, the special conditions, the addenda, the prime contract, the subcontracts, the purchase orders, and the change orders, to name just a few of the documents which bind parties, which should ideally be consistent and complimentary with one another, when the reality is that the parties bound to those contracts often have very different interests.
Perhaps the analogy goes a little too far afield, but it makes the point, that it can sometimes be a bit like making sausage.
The next case,
Watson Bowman Acme Corporation v. RGW Construction, Inc., California Court of Appeals for the Fifth District, Case No. F070067 (August 9, 2016), highlights the problems which can arise from the numerous documents which make up the typical construction contract today and the lengths that juries and judges must go to interpret what those agreements mean.
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Garret Murai, Wendel, Rosen, Black & Dean LLPMr. Murai may be contacted at
gmurai@wendel.com