I love that my clients and readers share my views on capitalism. In response to my previous post, “Need a Construction Loan? Consider Hard Money Lending,” I received an overwhelming number of questions asking how people can get into the business of lending, rather than borrowing, hard money. I will answer a three of the… Continue Reading
Monthly Archives: July 2011
Out In the Street: Friday, July 22, 2011
Posted in Out In the StreetIts Hot. Stay cool. See you next week.
Need a Construction Loan? Consider Hard Money Lending
Posted in Construction Loans, LendingBoth in the today’s print edition and on its real estate blog Developments the Wall Street Journal discusses the concept of hard money lending. As many developers already know, hard money lending is not the dark underbelly of the lending world where loan sharks swarm. Instead, hard money lending is interim financing similar to a… Continue Reading
Wall Street Journal Takes On PLA’s
Posted in Project Labor AgreementsHurrah to the Wall Street Journal Opinion page today for taking on Project Labor Agreements. The Journal’s opinion piece is by far the highest profile criticism of wasteful project labor agreements. As the editors note, the tide of public opinion is turning squarely against project labor agreements even in those areas that are sympathetic to… Continue Reading
Navigating a “Construction” Bankruptcy
Posted in Bankruptcy, Mechanics LiensStick around long enough and dealing with a bankruptcy during or after a construction project is inevitable. Moreover, when a member of the construction “chain” – owner, contractor, or subcontractor – files for bankruptcy everyone is effected. Receiving a Trustee’s “preference letters” might be largest cause of irate phone calls from clients to their attorneys. … Continue Reading
Out In the Street: Friday, July 15, 2011
Posted in Out In the StreetUnknown, Unknowns: Former Defense Secretary Donald Rumsfeld once quipped “there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns – the ones we don’t know we don’t… Continue Reading
“Big Stan” – The Coolest Tool In Construction
Posted in UncategorizedOne of the things I love about construction are the crazy pieces of equipment that are used on jobs. Engineering New Record has a short piece about “Big Stan,” which is believed to be the world’s largest truck mounted drill. According to ENR: The 250,000-lb, 93-ft-high boring behemoth was built in 1986 by Anderson Drilling,… Continue Reading
Will Wind Farms Equal Jobs?
Posted in NewsThe story that wind farms will be constructed off the coast of Southern New Jersey appears to be heating up. In June, the Cape May County Herald, reported that Atlantic Wind Connection presented to local community leaders in Cape May County about plans to construct a 350 mile transmission system that will be able to… Continue Reading
Out In the Street: Friday, July 8, 2011
Posted in Out In the StreetAt the top of my summer reading list is The First Tycoon: The Epic Life of Cornelius Vanderbilt by T.J. Stiles , which won the 2010 Pulitzer Price for autobiography. I am amazed at the disparaging treatment the typical history book gives our founding industrial fathers. Often derided “robber barrons,” men like Vanderbilt – and… Continue Reading
Common Sense Infrastructure Spending
Posted in NewsToday’s Wall Street Journal discusses competing infrastructure spending bills making their may through the House and Senate respectively. After years of infrastructure programs laden with pork and bridges to nowhere coupled with a disastrous “stimulus bill,” which resulted in job loss instead of creation, it is important that investments in our nation’s infrastructure be both… Continue Reading
Are the Dangers of Hydrofracking a Myth?
Posted in UncategorizedDrilling in Marcellus Shale has the potential to create thousands of jobs and inject millions of dollars into Pennsylvania’s economy. Yet, if the cries from the environmental crowd are to be believed, in terms of danger to the environment, drilling in Marcellus Shale is on par with nuclear fallout. Much of the environmental concern surrounds… Continue Reading
Out In the Street: Friday, July 1, 2011
Posted in Out In the StreetRaise a glass: Its hard to believe that the July 4th Holiday is already here. If you live in the Philadelphia region and have never been, I urge you to visit the Tomb of the Unknown Revolutionary War Soldier, located in Philadelphia’s Washington Square. During the Revolution, the Square was used as a mass grave… Continue Reading
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