Treasury Secretary Timothy Geithner has unveiled a sweeping plan to loosen up the still-tight credit markets. The plan, announced on Feb. 10, aims to restore lenders’ confidence and make it easier for small businesses, real estate firms and other potential borrowers to obtain loans. “Our plan will help restart the flow of credit, clean up and strengthen our banks and provide critical aid for homeowners and small business,” Geithner said. A key component of the plan is expanding the Federal Reserve’s Term Asset-Backed Securities Loan Facility (TALF) from $200 billion to as much as $1 trillion. The Fed launched TALF
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.