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Navigating Stormy Seas
Navigating Stormy Seas
Thomas C Schleifer, Ph.D
The Fed has just imposed another 75-basis point increase in its benchmark interest rate, and now even both sides of congress are howling. Prognosticators are worried that continued increases will push the economy into recession. Contractors find themselves between a rock and a … Read the rest “Navigating Stormy Seas”
CLEAN UP YOUR BOOKS
CLEAN UP YOUR BOOKS
Thomas C Schleifer, Ph.D.
While operating the nationās largest workout firm for sureties, I had occasion to audit the financial statements of hundreds of construction companies that had failed mid-project. While the causes of those failures varied widely, the inability to produce dependably accurate financial statements … Read the rest “CLEAN UP YOUR BOOKS”
Consolidation
Consolidation
Thomas C Schleifer, Ph.D.
This post-COVID economic environment is not a normal market. It is a disorderly market that will haunt construction for years. I digressed from my usual reflections last week to encourage industry professionals to change their way of thinking. The normal routine of chasing any work … Read the rest “Consolidation”
IF
IF
Thomas C Schleifer, Ph.D.
It is somehow comforting when other experts confirm your view of the world. Just this week in Engineering News Record:Ā
ENR October 12, 2022
Construction Wages Grow at Fastest Rate in Decades Despite Recession Threat
By James Leggate
“Contractors are continuing to hire as they … Read the rest “IF”
Productivity – The Only Way Out
Productivity – The Only Way Out
Thomas C Schleifer, Ph.D.
There is a difference between cycles and trends. For example, the supply chain bottle neck caused by COVID is a disruption that will cycle away as China opens, truck drivers return to work, and the compressed demand caused by the … Read the rest “Productivity – The Only Way Out”
Defense Mechanisms
Defense Mechanisms
Thomas C Schleifer, Ph.D.
Last week we renamed the impending “recession” being brought on by the Fed’s interest rate battle against inflation – “bottom-line recessionā – for the construction industry. Bottom-line recession is the dramatic erosion of profits caused by runaway cost inflation that cannot be immediately passed … Read the rest “Defense Mechanisms”
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