- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How is it looking for the construction industry
Posted on 3/18/20 at 6:07 pm to Capital Cajun
Posted on 3/18/20 at 6:07 pm to Capital Cajun
I received. Questionnaire today from a client asking me to outline our Coronavirus policies and procedures.
1
Posted on 3/18/20 at 6:15 pm to VABuckeye
I represent some pension/health funds related to construction. A few were concerned an administrator has not released a statement about its policies. I initially thought, what can they do, write a letter saying everyone is washing their hands? But, I see that clients just want some reassurance that you can or can't do business as usual.
To OP, I haven't heard of much slowdown on the hours yet. But, the pension and health trustees are in full freakout. Lost hours are a black hole that can never really be made up. And, as far as pensions, most of these plans are assuming 6.5-7.5% return. They really cannot afford even a flat year right now. A recession or something like 2008 will bring down Central States and the PBGC.
To OP, I haven't heard of much slowdown on the hours yet. But, the pension and health trustees are in full freakout. Lost hours are a black hole that can never really be made up. And, as far as pensions, most of these plans are assuming 6.5-7.5% return. They really cannot afford even a flat year right now. A recession or something like 2008 will bring down Central States and the PBGC.
Posted on 3/18/20 at 6:18 pm to Bunk Moreland
That’s how I took it. We’ll tell them what they expect to hear and we’ll adhere to it.
Posted on 3/18/20 at 6:34 pm to jlovel7
Hopefully the virus will stop the construction of that miserable Section 8 complex going up near my office.
Posted on 3/18/20 at 6:50 pm to TheMightyTerrier
On the industrial side, the big greenfield projects are still moving forward. Too much money on the line to stop. However, small-cap projects are being postponed. A lot of operating facilities are moving to essential personnel only and are deferring any upcoming work that’s not safety- or production-critical. Also, plant project personnel are working from home.. bid walks are harder to set up.. meetings need ironclad justification. Even the small projects that are continuing to move forward are slowing down.
Supply side is my biggest concern. Feels like the one thing that could shut down the mega-projects would be for owners/EPC’s to suddenly realize that pushing forward will cost more than shutting down. A run of force majeure claims due to material supply issues could definitely cause things to spiral.
quote:
We are working on a force majeure letter just in case.
Supply side is my biggest concern. Feels like the one thing that could shut down the mega-projects would be for owners/EPC’s to suddenly realize that pushing forward will cost more than shutting down. A run of force majeure claims due to material supply issues could definitely cause things to spiral.
Posted on 3/18/20 at 7:12 pm to jlovel7
Have a brother working in Pittsburg on a massive construction project that employs over 6,000. They shut the job down today.
Posted on 3/18/20 at 7:34 pm to jlovel7
Const supply here and as of this evening we aren't going to extend credit to anyone and those that do have credit with any lates over the past 2 years are going to be COD.
Any new customers wanting to rent will be 3 months in advance on a major CC, no more debit cards.
It's going to get worse. We have stores in Nashville, Atlanta and Birmingham.
Our Nashville store says that some large GC's are starting to shut down projects. Haven't seen that yet in Bham from the Brasfield's or Hoar's but I imagine it's incoming.
Our Atlanta store had half it's workers not show up today.
Any new customers wanting to rent will be 3 months in advance on a major CC, no more debit cards.
It's going to get worse. We have stores in Nashville, Atlanta and Birmingham.
Our Nashville store says that some large GC's are starting to shut down projects. Haven't seen that yet in Bham from the Brasfield's or Hoar's but I imagine it's incoming.
Our Atlanta store had half it's workers not show up today.
Posted on 3/18/20 at 7:47 pm to jlovel7
Had a project postponed that would have been 1/8th of my 2020 revenue.
Posted on 3/18/20 at 7:51 pm to Giantkiller
Where was this project located? LC?
Posted on 3/18/20 at 8:11 pm to jlovel7
Oil and gas construction is going to suck for a while
Posted on 3/18/20 at 8:11 pm to MrLarson
We have two dozen formwork only or full frame projects going for GCs across the SE and as of today it has been full steam ahead. We have spent a lot of time this week working with the GCs across every region issuing protocols and precautions.
Posted on 3/18/20 at 8:19 pm to 4LSU2
Oil is fricked and I’m in it. Oh well I guess everything will eventually work out but it ain’t looking good right now with my job.
Posted on 3/18/20 at 8:38 pm to OGTiger
quote:
massive construction project that employs over 6,000.
As a contractor, it pays to have diversified contracts in a time like this...not have all your eggs in 1 basket so to speak. Closure of a Mega project could sink some companies that play the cash flow game..
Crazy times ahead.
Posted on 3/18/20 at 9:05 pm to 23parker
quote:
Where was this project located? LC?
Yes.
Posted on 3/18/20 at 9:10 pm to jlovel7
You'll be fine unless they check there 401k or talk to an investment broker .
Posted on 3/18/20 at 9:21 pm to jlovel7
It’s all about cash flow. I have a lot of construction clients that have been totally shut down. If you are an employee, get your unemployment papers ready. LWCC is not prepared for the number of apps they are receiving.
My generation’s parents got through two world wars and a recession. Mine faced a few tough time like. Vietnam. The entitled generation is getting their first test. Time for all to step up and show the backbone of our ancestors to the world.
My generation’s parents got through two world wars and a recession. Mine faced a few tough time like. Vietnam. The entitled generation is getting their first test. Time for all to step up and show the backbone of our ancestors to the world.
Posted on 3/18/20 at 9:26 pm to jlovel7
You really already the answer to this brother. I am so sorry, it’s really unfair
Posted on 3/18/20 at 9:37 pm to jlovel7
I’m working on 2 Amazon distribution centers and they want them done now. Supposedly there are 4 more right behind these. Construction is rolling in Louisiana. Don’t worry, get that F350 now with the 0% for 72 months. Truck nuts are extra.
Posted on 3/18/20 at 9:38 pm to Ron Popeil
quote:
I’m working on 2 Amazon distribution centers and they want them done now.
The one by Bethany?
Posted on 3/18/20 at 9:45 pm to fallguy_1978
Yes, also Citrus Avenue in Elmwood.
Page 4 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News