Im not buying it. No offense but concrete companies dont just "collapse" overnight...and why would he be counting change? Seriously absolutely zero savings?
Eh, I saw that happen to a lot of companies in the construction sector. 05-07 was booming and new construction starts everywhere. There weren't enough tradesmen and companies to feed the machine.
Good companies took most of what they had and invested it into their business.
They took out loans to fund expansion, major risk for major reward. Many using their houses as collateral. That's an awfully big nut every month when the entire industry shuts down overnight and there's nothing coming in.
They would when real estate dried up overnight. Houses just stopped being built. Companies gear up for large projects buying new equipment, contract is void as developers go insolvent. You're left with used equipment and a heavy tax bill and a few 25% contracts and no work. Happened to my father
Running a company is expensive. A lot of guys in construction burned through their savings trying to weather the storm. Unfortunately, that storm was Obama and it lasted for years. That piece of shit commie destroyed many lives
Also, you ‘finance’ a construction project with your labor, equipment, and material (that you buy on credit). When the buyers/developers/contractors go bust, your left holding the bag
Im not buying it. No offense but concrete companies dont just "collapse" overnight...and why would he be counting change? Seriously absolutely zero savings?
Eh, I saw that happen to a lot of companies in the construction sector. 05-07 was booming and new construction starts everywhere. There weren't enough tradesmen and companies to feed the machine.
Good companies took most of what they had and invested it into their business.
They took out loans to fund expansion, major risk for major reward. Many using their houses as collateral. That's an awfully big nut every month when the entire industry shuts down overnight and there's nothing coming in.
They would when real estate dried up overnight. Houses just stopped being built. Companies gear up for large projects buying new equipment, contract is void as developers go insolvent. You're left with used equipment and a heavy tax bill and a few 25% contracts and no work. Happened to my father
Running a company is expensive. A lot of guys in construction burned through their savings trying to weather the storm. Unfortunately, that storm was Obama and it lasted for years. That piece of shit commie destroyed many lives
Also, you ‘finance’ a construction project with your labor, equipment, and material (that you buy on credit). When the buyers/developers/contractors go bust, your left holding the bag
Yep that’s a tens of thousands of dollars a month in expenses and payroll. I don’t think that guy knows what he’s talking about
Housing crisis
Concrete foundations
No new construction
Do the math
Yep. The reddit poster is probably an Antifa fag too.
Your username checks out, pede!