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WATCH: 2023 Construction Economic Update and Forecast

January 09, 2023 — Construction Executive
Construction Executive presented its "2023 Construction Economic Update and Forecast" webinar with Associated Builders and Contractors Chief Economist Anirban Basu on Dec. 14, sponsored by Aerotek, Bluebeam, CMiC and Raken. Basu started by announcing the Federal Reserve’s rate increase of 0.5%, the latest in a series of increases aimed at combating inflation. Calling 2022 a “year of tumult and a year of surprise,” Basu further noted that the Russian invasion of Ukraine surprised many, further disrupting global supply chains and causing a shockwave to ripple through global energy prices. Citing the U.S. Consumer Price Index, with 7.1% year-over-year inflation in November, Basu believes we’ve “peaked in terms of inflation for this cycle”; while inflation hit higher-than-expected levels throughout 2022, it leveled off at lower-than-expected rates by the end of the year. Basu predicted inflation will continue to be problematic through 2023 as it has shifted from transitory inflation due to supply-chain disruptions in 2020 and 2022 to broader inflation due to the labor market, noting that the worst of the supply-chain issues seem to be over, reaching a high point in late 2021. Blaming the injection of fiscal stimulus coming from the federal government, monetary stimulus from the Federal Reserve and the fact that inflation has now become ingrained in the economy and in people’s expectations, leading to wage and price increases, Basu calls the economy “overheated.” Reprinted courtesy of Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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New Utah & Colorado Homebuilder Announced: Jack Fisher Homes

July 23, 2014 — Beverley BevenFlorez-CDJ STAFF
Henry Walker Homes announced the creation of Jack Fisher Homes, “a new venture that will continue their tradition of homebuilding excellence in Northern Utah, Southern Utah and Colorado,” according to a press release on PR Web. “Colin Wright, Owen Fisher, Chad Bessinger and Steve Sandholtz founded Jack Fisher Homes to focus on areas of their proven expertise in real estate, including residential land development and homebuilding, commercial assets in multifamily development and seniors’ housing,” PR Web reported. Jack Fisher has “1,300 single-family residential units in its pipeline” and “anticipates closing more than 230 homes in the remainder of 2014 with sales expected to exceed $70 million.” The homebuilder expects those numbers to double in 2015. “All of the original elements that made Henry Walker great are incorporated and improved upon with Jack Fisher Homes,” Wright said, according to the press release. “The influx of new capital, our years of experience, and the improved real estate landscape have us very excited about the future of Jack Fisher Homes.” Read the court decision
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Investigation Continues on Children Drowning at Construction Site

August 13, 2014 — Beverley BevenFlorez-CDJ STAFF
Two months ago, in Hobart, Illinois, two young boys (brothers) “drowned in an unsecured, excavated pit that filled with water” on a site owned by Goldschmidt Construction Services LLC of Hobart. The Post-Tribune reported that “Police Chief Richard Zormier said the department is waiting on reports from other agencies as it continues to investigate circumstances surrounding” the accident. “We want to be thorough. The young boys deserve it. Their family deserves it,” Zormier told the Post-Tribune. The family of the victims has filed a $60 million lawsuit against Goldschmidt Construction. Read the court decision
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How to Prevent Forest Fires by Building Cities With More Wood

December 16, 2023 — Leslie Kaufman - Bloomberg
Deep in Colville National Forest in eastern Washington state, Russ Vaagen is pointing to a delineation between woods that have been selectively thinned and those that haven’t. One side is light-filled and punctuated with meadows; the other is dense and dark and loaded with trees losing a Darwinian battle for water and life. To Vaagen it’s proof that America’s sawmills and lumberjacks can help head off the forest conflagrations that are becoming ever more common, and at the same time provide raw material for an emerging industry, known as mass timber, that makes sustainable wood building components. Read the court decision
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Reprinted courtesy of Leslie Kaufman, Bloomberg

Banks Rejected by U.S. High Court on Mortgage Securities Suits

January 12, 2015 — Greg Stohr – Bloomberg
The U.S. Supreme Court dealt a blow to Royal Bank of Scotland Group Plc and Nomura Holdings Inc. (8604), refusing to derail federal government lawsuits that seek billions of dollars over the sale of risky mortgage-backed securities. The justices today turned away an appeal by four banks, including units of RBS and Nomura, in a case stemming from the collapse of two credit unions that owned more than $1.7 billion in those securities. Read the court decision
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Reprinted courtesy of Greg Stohr, Bloomberg
Mr. Stohr may be contacted at gstohr@bloomberg.net

COVID-19 Response: Recent Executive Orders Present Opportunities for Businesses Seeking Regulatory and Enforcement Relief and Expedited Project Development

June 15, 2020 — Karen C. Bennett, Jane C. Luxton & Amanda L. Tharpe - Lewis Brisbois
Washington, D.C. (June 8, 2020) - Two recent Executive Orders (EO) aimed at promoting economic recovery from the COVID-19 crisis offer regulatory and enforcement relief and encourage agencies to expedite infrastructure project approvals. The May 19, 2020 EO 13924, “Regulatory Relief to Support Economic Recovery,” directs agencies to determine whether previous regulatory reforms would promote economic recovery if made permanent and encourages compliance assistance through exercising enforcement discretion, including declining enforcement. And the June 4, 2020 EO 13927, “Accelerating the Nation’s Economic Recovery from the COVID-19 Emergency by Expediting Infrastructure Investments and Other Activities,” aims to speed up the permitting process for infrastructure projects to strengthen the national economy. As businesses look to move forward and recover from the COVID-19 pandemic, they should closely review these EOs for opportunities to take advantage of streamlined treatment and faster project approvals. EO 13294 supplements the Administration’s efforts to address the economic crisis brought on by the COVID-19 pandemic by encouraging federal agencies to rescind, modify, waive, or provide exemptions from federal regulations that may inhibit economic recovery and to provide guidance to businesses, particularly small businesses, on what is required of them under federal law for reopening. Specifically, the EO directs agency heads to identify regulatory standards that may inhibit economic recovery and consider rescinding or waiving those regulations, exempting regulated entities from compliance, exercising enforcement discretion, or extending regulatory compliance and enforcement deadlines. It also allows for compliance assistance through accelerated regulatory procedures to receive a pre-enforcement ruling and directs agencies to assess previous regulatory reforms to determine whether making them permanent would promote economic recovery. Since taking office, the Trump Administration has made regulatory reform a cornerstone of its agenda. This Executive Order is a continuation of the aggressive steps taken by the Administration to reduce the regulatory burden faced by American businesses that many argue increases operating costs, inhibits job creation, and stifles economic growth. Reprinted courtesy of Lewis Brisbois attorneys Karen C. Bennett, Jane C. Luxton and Amanda L. Tharpe Ms. Bennett may be contacted at Karen.Bennett@lewisbrisbois.com Ms. Luxton may be contacted at Jane.Luxton@lewisbrisbois.com Ms. Tharpe may be contacted at Amanda.Tharpe@lewisbrisbois.com Read the court decision
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Colorado Senate Bill 13-052 Dies in Committee

May 10, 2013 — David M. McLain
On April 17, 2013, the Colorado Senate Judiciary Committee voted, along party lines, to postpone indefinitely SB 52. Here is a link to the Denver Business Journal's story regarding the bill and its untimely demise: "Lawmakers kill lawsuit limits on condo defects." Unfortunately, it will be at least another year before the legislature will have the ability to provide some much needed relief to the Colorado construction industry. Read the court decision
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Reprinted courtesy of David M. McLain
Mr. McLain can be contacted at mclain@hhmrlaw.com

SIG Earnings Advance 21% as U.K. Construction Strengthens

August 13, 2014 — Benjamin Katz – Bloomberg
SIG Plc (SHI) earnings surged 21 percent in the first half as the distributor of building products benefited from a strengthening recovery in the U.K. housing market as well as procurement savings. Underlying operating profit rose to 47.8 million pounds ($80 million) from 39.6 million pounds a year earlier, the Sheffield, England-based company said in a statement today. Sales in the U.K. and Ireland from continuing operations climbed 14 percent to 650 million pounds, offsetting flat revenue in continental Europe. “Trading conditions in the U.K. have continued to gather momentum, led by the revival in the housing market,” Chief Executive Officer Stuart Mitchell said in the statement. “The group’s first-half performance and progress on its strategic initiatives provide a strong base on which to achieve its full-year expectations.” Read the court decision
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Reprinted courtesy of Benjamin Katz, Bloomberg
Mr. Katz may be contacted at bkatz38@bloomberg.net

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