Cambridge Massachusetts Building Expert Directory

A Recession Is Coming, But the Housing Market Won't Trigger It

June 12, 2023 — Edward Harrison - Bloomberg
One big reason to continue to believe this is no 2008-style financial crisis in the making is the housing market, which has held up well. That means, we’re more likely to experience a garden-variety recession, and I think it will happen sometime later this year. Why this isn’t another 2008-style crisis Residential property was famously the trigger for a cataclysmic global financial crisis a decade and a half ago. That’s because residential property is one of the principal assets of the middle classes across the globe. And it’s a leveraged investment to boot because of the money borrowed through mortgages. That makes large and pervasive house-price declines toxic for the economy. But not that many people are worrying about house prices today. So I thought I’d take a breather from the doom and gloom surrounding commercial real estate, banks and the debt ceiling to focus on house prices and why they aren’t worrying us this go round. And I’ll use one of the pricier markets, the UK, as a first example. Read the court decision
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Reprinted courtesy of Edward Harrison, Bloomberg

Thieves Stole Backhoe for Use in Bank Heist

July 31, 2013 — CDJ STAFF
You can do a lot with a backhoe, but maybe not use it for bank robbery. The New York Daily News wasn’t clear on how many were involved, but described them as “a brazen crew of bandits.” They stole a backhoe from a construction site and used it to pry an ATM from a bank. When they couldn’t get the ATM open, they jumped into a black SUV and left the scene. The bandits were engaging in a sort of ATM spree. They did manage to open two ATMs, each holding more than $7,000 in cash. They were less successful at their use of heavy machinery. In an earlier heist, they used a tow truck to try to remove an ATM, but the chain snapped and the bank’s alarm rang. The Daily News quotes one former tow truck driver who said that it was “stupid to use a tow truck.” In her experience, “those chains snap at any time.” Read the court decision
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Hunton Insurance Recovery Lawyers Ranked by Chambers as Top Insurance Practitioners

May 27, 2019 — Michael S. Levine - Hunton Andrews Kurth
Hunton Andrews Kurth insurance recovery partner, Lorie Masters, received a top “Band 1” ranking by Chambers and Partners in the Insurance: Policyholder category for the District of Columbia, and a “Band 2” ranking in the Insurance: Dispute Resolution: Policyholder – USA – Nationwide category. Hunton Andrews Kurth insurance recovery associate, Andrea DeField, also was recognized by Chambers in the Associate to Watch: Insurance: Florida category. Read the court decision
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Reprinted courtesy of Michael S. Levine, Hunton Andrews Kurth
Mr. Levine may be contacted at mlevine@HuntonAK.com

ZLien Startup has Discovered a Billion in Payments for Clients

March 19, 2014 — Beverley BevenFlorez-CDJ STAFF
The New Orleans startup company zlien “tracks liens for contractors through an online service” and has “secured more than $1 billion in payments for clients on 33,000 construction projects” according to its founder Scott Wolfe, as reported by The Times-Picayune. When Wolfe practiced law, he noticed “an absence of any centralized service to help firms comply with lien procedures.” Wolfe “saw construction companies hiring small operators, in what he called ‘a very manual, service business,’ to track liens in different states, running the process inconsistently or failing to collect on some liens at all.” Wolfe has entered zlien into “New Orleans Entrepreneur Week on March 28 for the Coulter IDEAPitch, a business competition in front of what The Idea Village organizers describe as an invitation-only audience of ‘world-class investors’ focused on ventures with high growth prospects.” Wolfe told The Times-Picayune that “not getting paid is a central problem in construction. That is something that really strains the construction industry." Read the court decision
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Understanding Lien Waivers

September 03, 2015 — Beverley BevenFlorez-CDJ STAFF
Zlien on their Construction Payment Blog explained how to read a lien waiver. According to Zlien, “Lien waivers are meant to function as a sort of receipt – if a party is paid a certain amount that party waives his or her right to claim a lien for that amount. “ The blog post breaks down the types of lien waivers, including Conditional Waivers, Unconditional Waivers, Final Payment, and Progress Payment. Once the type of waiver has been identified, Zlien suggests checking the length: “Because the party signing the lien waiver may feel obligated to sign whatever document is presented in order to get paid, unscrupulous or oblivious parties may attempt to use the lien waiver as a legal positioning tool and cram all sorts of other language into the lien waiver that really has no legitimate right or reason to be there.” Zlien recommends that if the document is long or confusing to consult an attorney. Read the court decision
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Automating Your Home? There’s an App for That

April 03, 2013 — CDJ STAFF
Writing in the New York Times, Nick Wingfield looks at both the promise and failures of home automation, starting with a timer which had “buttons the size of a small seed” and was too difficult to reset. Wingfield said the timer “made my house dumber.” He moves on to the useful items, such as the Nest thermostat, which improves on his previous programmable thermostat by being able to determine when people are actually home (so an empty house isn’t being heated) and it can be controlled from a smartphone app, useful for the taxi on the way home from the airport. The Belkin WeMo Switch allows users to control lamps from an iOS app and the timer functions can be accessed without having to use seed-sized buttons. For those with bigger home automation budgets, there are now companies setting up whole house systems, including thermostat, light controls, motion detectors, surveillance cameras, and even monitors for your hot water heater and the level of carbon monoxide in your home. These systems start at around $1,500 but quickly go past $5,000. Other packages are sold on a month-by-month basis. And they include apps. Read the court decision
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No Coverage for Subcontractor's Faulty Workmanship

November 28, 2022 — Tred R. Eyerly - Insurance Law Hawaii
Finding faulty workmanship that did not cause property damage beyond the subcontractor's work, the court found there was no coverage under the CGL policy. Middlesex Ins. Co. v. Dixie Mech., Inc., 2022 U.S. Dist. LEXIS 175190 (N. D. Ga. Sept. 27, 2022). The case involved a construction project on Elba Island, Georgia. IHI E&C International Corporation (IHI) filed suit against Robinson Mechanical Contractors ("Robinson") for faulty construction work, including a pipe rack and process module installation. The pipe racks allegedly contained defective welds. Robinson filed a third-party complaint against Patriot Modular, Inc. (Patriot), Robinson's subcontractor, for faulty work for IHI. Finally, Patriot filed a fourth-party complaint against Dixie Mechanical, Inc. (Dixie), alleging it subcontracted with Dixie to perform fabrication, welding, testing, and inspection of pipes under Patriot's subcontract with Robinson. Patriot contended that to the extent it was found liable to Robinson for any defective work, delays or breaches of contract for Dixie's work, Patriot was entitled to recover such amounts from Dixie. In this case, Dixie's insurer, Middlesex Insurance Company, sought a declaration that it had no duty to defend or to indemnify Dixie. Middlesex contended that the claims of faulty workmanship in the underlying complaints constituted neither an "occurrence" nor "property damage." Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Damon Key Leong Kupchak Hastert
Mr. Eyerly may be contacted at te@hawaiilawyer.com

This Company Wants to Cut Emissions to Zero in the Dirty Cement Business

November 12, 2019 — Nick Rigillo - Bloomberg
Europe’s biggest maker of cement plants is looking for help to clean up one of the world’s dirtiest industries. FLSmidth A/S, which is based in climate-friendly Denmark, wants to reduce emissions in cement production to zero by 2030. The company says it can achieve 70% of that target by leveraging existing technologies, for instance by blending clinker with alternative materials. Read the court decision
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Reprinted courtesy of Nick Rigillo, Bloomberg

CAMBRIDGE MASSACHUSETTS BUILDING EXPERT DIRECTORY AND CAPABILITIES