California was poised to lay off 10,000 employees and pull the plug on 275 transportation infrastructure projects when a divided Legislature in the early morning hours of Feb. 19 approved a new budget that plugs the state’s $41-billion deficit. However, the fiscal relief is temporary. The state is still teetering, and it could be several weeks before the Dept. of Finance’s cash-flow status is clear. Any positive effects of the $787-billion federal American Recovery and Reinvestment Act cannot be measured until President Barack Obama’s plan is put in place. Photo: AP/Wideworld California pols passed budget accord after a lockdown forced
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.