Construction is a cyclical industry. Industry executives enduring recessions console themselves with the knowledge that, sooner or later, the bad times will pass.
The Export-Import Bank of China is in the final stages of striking a deal with two real estate magnates to complete construction of the stalled, $3.5-billion Baha Mar Resort project in the Bahamas.
Shortly before Congress adopted a measure to help curtail individual surety fraud, an appellate court decision seemed to make it more difficult for contractors who use individual surety bonds on public project bids to compete.
Suspecting that the California High- Speed Rail Authority intentionally misled the state Legislature on costs, state Assembly Republicans are seeking to subpoena state documents on the estimated $68-billion high-speed-rail (HSR) project and set up a special committee to receive sworn testimony from CHSRA officials.