Fairfield Connecticut Building Expert Directory

Toll Brothers Surges on May Gain in Deposits for New Homes

June 01, 2020 — Prashant Gopal - Bloomberg
Toll Brothers Inc. shares surged after the company posted profit that beat estimates and said deposits on new homes were up in recent weeks, a potential sign of optimism for the luxury housing market. The homebuilder, which focuses on higher-end customers, has struggled during the pandemic. It reported orders for the second quarter that missed estimates and said the key metric had plunged starting March 16, when much of the economy shut down. But investors shrugged off those results, focusing instead on a 13% year-over-year gain this month in deposits, which the company called a “leading indicator of current market demand.” Read the court decision
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Reprinted courtesy of Prashant Gopal, Bloomberg

In Phoenix, Crews Thread Needle With $730M Broadway Curve Revamp

July 31, 2024 — Scott Blair - Engineering News-Record
Motorists scrambling to dart across three lanes of traffic when merging onto the freeway. Vehicles slowing to a crawl due to extremely curved exit ramps. Commuters enduring agonizing backups as three freeways converge in a tight footprint. Bicyclists and pedestrians sweating through long detours to traverse freeways. Reprinted courtesy of Scott Blair, Engineering News-Record Mr. Blair may be contacted at blairs@enr.com Read the full story... Read the court decision
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Insurer Must Pay Portions of Arbitration Award Related to Faulty Workmanship

October 21, 2019 — Tred R. Eyerly - Insurance Law Hawaii
The court determined that portions of an arbitration award against the insured contractor based upon faulty workmanship were covered by the policy. Wallace v. Nautilus Ins. Co., 2019 U.S. Dist. LEXIS 122219 (D. N. H. July 23, 2010). Plaintiffs, owners of adjoining homes, hired McPhail Roofing, LLC to replace the roofs of their houses. After installation, the plaintiffs found several problems with their roofs and withheld roughly a third of the agreed-upon contract price from final payments due to McPhail. A roofing consultant found evidence of water leaking through both roofs during rainstorms. Improper installation of the shakes on the roofs allowed rain to seep through to the roof decks (the plywood underneath the roofs) and eventually into the houses. The only way to cure the installation defects was to remove and replace the roofs entirely. Plaintiffs and McPhail went to arbitration. Plaintiffs sought compensation for the damage caused by the leaking and for the replacement costs of the roofs. McPhail sought the remaining payment under the contracts. Nautilus defended McPhail under this CGL policy. 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

State-Fed Fight Heats Up Over Building Private Nuclear Disposal Sites

August 03, 2022 — Mary B. Powers & Debra K. Rubin - Engineering News-Record
The U.S. Nuclear Regulatory Commission and Interim Storage Partners, a joint venture that gained a federal license last year to build an interim storage facility for spent commercial nuclear fuel at a Texas site, have until Aug. 3 to answer a federal lawsuit claim by state officials that a new U.S. Supreme Court decision eliminates the federal agency’s licensing authority. Reprinted courtesy of Mary B. Powers, Engineering News-Record and Debra K. Rubin, Engineering News-Record Ms. Rubin may be contacted at rubind@enr.com Read the full story... Read the court decision
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How to Fix America

July 11, 2021 — Bloomberg CityLab
In 2011, then-President Barack Obama stood in front of the deteriorating Brent Spence Bridge linking Ohio and Kentucky with a plea to Republican leadership: Pass the jobs bill to rebuild America. (It did not pass.) Six years later, when asked about the same bridge, then-President Donald Trump answered “we’re going to get it fixed.” (It did not get fixed.) It took two trucks colliding on the Brent Spence’s lower deck — leading to a massive fire — just before 3 a.m. on Nov. 11, 2020, for work to begin. A post-crash inspection found the bridge structurally sound, and more than $3 million in repairs were made by year-end. But with traffic volume at around double its intended capacity, much more work is needed to alleviate persistent jams and accidents. Such has been the state of infrastructure in the U.S. for decades — fixes get put off until they’re absolutely necessary, and U.S. airports, roads and public transportation draw frequent comparisons to those in nations with far fewer resources. Meanwhile, countries in Europe, Asia and the Middle East have leapt ahead with so-called smart cities, high-speed trains and eco-friendly buildings. In 2019, the U.S. ranked 13th in the world in a broad measure of infrastructure quality — down from fifth place in 2002, according to the World Economic Forum’s Global Competitiveness Report. Read the court decision
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Reprinted courtesy of Bloomberg

Building Stagnant in Las Cruces Region

November 20, 2013 — CDJ STAFF
There was an increase in the number of building permits issued in Las Cruces, New Mexico through the first ten months of 2013, but the 2,162 permits represent only a minimal increase over last year’s 2,158 permits. To make matters worse for building suppliers and workers, builders can “pull all the permits for a subdivision at one time but might not start some of those for six months,” said Lee Rawson, the owner of Rawson Builders Supply. For a comparison, during the building boom of 2006, Las Cruces issued 3,529 building permits. The values are down too. Although fewer permits were issued in 2012, their valuation was $147 million, while the marginally larger number in 2013 is worth only $128 million. As a result, the area is losing skilled labor. After 25 consecutive months of declining construction, workers are leaving the construction industry. Mr. Rawson noted that “you can’t just go find that skilled labor, it doesn’t exist.” Read the court decision
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Investing in Metaverse Real Estate: Mind the Gap Between Recognized and Realized Potential

May 10, 2022 — Robert G. Howard, David W. Wright & Craig A. de Ridder - Gravel2Gavel Construction & Real Estate Law Blog
The Metaverse is an immersive world combining virtual reality and augmented reality, where users are represented by avatars and roam virtual spaces. It comprises a variety of platforms and environments that can be explored, experienced, and developed. Online social games like Second Life, Fortnite and Minecraft are among the first wave of successful Metaverse games. Now, Meta and Microsoft see the Metaverse as a place to play, live, and work. A JP Morgan white paper stated that opportunities in the Metaverse seem “limitless.” The bank predicted that virtual worlds will “infiltrate every sector in some ways in the coming years.” A March 31 report by Citi concluded that the Metaverse has the potential to become a $13 trillion opportunity by 2030, with total global users of between one and five billion. According to Citi, the Metaverse will become a significant part of the next iteration of the internet (referred to as Web3) enabled by a variety of existing and emerging technologies, including 5G connectivity, secure blockchain and payment platforms, crypto assets, cloud computing, artificial intelligence, 3D modeling tools and headset devices. A Land Rush, Virtually Speaking Not surprisingly, investors are speculating regarding the value and potential of “virtual land” within the Metaverse, where land sales in 2021 exceeded $500 million and attracted a lot of attention and hype. The Sandbox, Decentraland, Somnium Space and CryptoVoxels are the most active platforms and owners can build almost anything on their virtual parcels. The open-source Ethereum blockchain, with self-executing smart contract functionality, operates as the foundational layer for most platforms. Parcels of land in The Sandbox and Decentraland are purchased with cryptocurrencies (called SAND and MANA, respectively) on their platforms and can also be sold and purchased on secondary marketplaces like OpenSea. Reprinted courtesy of Robert G. Howard, Pillsbury, David W. Wright, Pillsbury and Craig A. de Ridder, Pillsbury Mr. Howard may be contacted at robert.howard@pillsburylaw.com Mr. Wright may be contacted at david.w.wright@pillsburylaw.com Mr. Deridder may be contacted at craig.deridder@pillsburylaw.com Read the court decision
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If You Don’t Like the PPP Now, Wait a Few Minutes…Major Changes to PPP Loan Program as Congress Passes Payroll Protection Program Flexibility Act

July 27, 2020 — Ryan J. Udell & Adam J. Chelminiak - White and Williams LLP
On June 5, 2020, President Trump signed into law the Payroll Protection Program Flexibility Act of 2020 (the Flexibility Act). The Flexibility Act provides much-needed flexibility for the Paycheck Protection Program (PPP) and its millions of business participants. The PPP offers loans to small businesses that have been adversely impacted by the COVID-19 pandemic and the measures taken by various governmental authorities to stem the spread of the virus so that they could keep their employees on the payroll during an eight-week period after receiving the funds. The PPP was particularly alluring to borrowers because the loans could be forgiven. But as the duration of lockdown orders and the accompanying economic aftershocks have extended longer than initially anticipated, particularly in those sectors that depend on in-person business such as restaurants, hospitality and other “main street” retail establishments, many recipients of PPP loans have found it challenging to use the PPP funds for payroll and other authorized purposes within the eight-week period after they had received the PPP funds, as is necessary to preserve eligibility for forgiveness. The Flexibility Act makes several key changes to the PPP program in order to allow borrowers who need a longer re-opening runway to do so without jeopardizing their ability to qualify for loan forgiveness. This alert outlines the key changes to the PPP made by the Flexibility Act. Reprinted courtesy of Ryan J. Udell, White and Williams LLP and Adam J. Chelminiak, White and Williams LLP Mr. Udell may be contacted at udellr@whiteandwilliams.com Mr. Chelminiak may be contacted at chelminiaka@whiteandwilliams.com; Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES