As construction managers build new strategies – or otherwise scramble to respond to the development market slowdown – their moves often have significant repercussions for subcontractors.
Among the prime concerns for subcontractors are the dirt-cheap rates that some general contractors and construction managers are bidding for new work. That in turn has surety companies that bond subcontractors in similar distress, says Jay Price, executive v.p. of business development for the Conti Group, a contractor based in South Plainfield, N.J.