Welcome to 2012 A.D.
By: Gregory L. Shelton
Horack, Talley, Pharr & Lowndes, P.A.
The presents have been opened, the fruitcake is gone, and we now find ourselves in 2012 A.D.
The economy has been idle in the doldrums for nearly four years. Now more than ever, politics will play a key role in the construction world. It seems that everyone is frozen in place until they know whether the country will zig or zag in November. Companies that would otherwise be breaking ground on new facilities are holding onto cash for fear of another financial collapse. After all, liquidity is king in a bad economy.
But hold off on buying a truckload of meals-ready-to-eat and heading for the mountains just yet. There are some encouraging signs. In the last few months of 2011, I experienced a noticable surge in requests to draft and review construction contracts. The project pipeline may be filling back up. Time will tell.
On the state level, I will watch with interest as South Carolina battles the unions, and I will of course keep you updated as House Bill 489 (NC lien law bill) works its way through the General Assembly. For a description of the bill, read Part I and Part II of my summary.
Thanks for stopping by my blog in 2011. I’ll do my best to regularly update the blog with meaningful and interesting information. So stay tuned in 2012 . . .
Photo courtesy of Charleston Daily Photo