Flights at Chicago Midway International Airport will continue to take off as usual, but a multibillion-dollar deal to privatize the airport will remain grounded, at least until the U.S. economy refuels. The sale, valued at $2.52 billion and set up for a 99-year lease, was scheduled for signatures on April 6, but Midway Investment and Development Co., a joint venture of Citi Infrastructure Investors, John Hancock Life Insurance Co. and Vancouver Airport Services, failed to come up with the capital needed to close the deal. MIDCo finally broke talks with the city in late April after it was granted a
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.