Construction companies are getting killed right now

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by AC

We had a $400,000 job done at the place I work at over the winter. There were some delays and they still haven’t finished. The company just sent us a letter demanding their money. Even though the job isn’t finished. A subcontractor I spoke to a couple of days ago says everybody in the business is hurting for money.

They all quoted jobs six months ago at $1.00 a liter diesel fuel, now it’s $2.25. Dump trucks were $80 an hour. Now they’re $130/Hr. The sub said there are tons of contractors who are going to go bankrupt over fuel and material price increases, including the guy who did the job for us.

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And one more thing, our business is down about 15%, my estimate, so far this year. The reckoning is coming. We won’t get through the summer before it happens from what I can see.

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