Some big banks that received huge federal government bailouts have been paying the money back, largely to escape the increased federal scrutiny of operations and restrictions on executive pay and bonuses that the government imposed. In December alone, Bank of America paid back $45 billion, CitiGroup agreed to repay $20 billion, and Wells Fargo Bank said it would redeem $25 billion of preferred stock issued to the U.S. Treasury to cover the bank’s “toxic” assets. So far, more than 50 of the 737 institutions that received funds have squared the books. Rather than signaling a turnaround of fortunes in the
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.