In an article in today’s online edition of the Denver Business Journal, Cathy Proctor reported that 85% of the contractors surveyed in Colorado by the AGC expect there to be no growth in 2010. Of the 52 contractors surveyed in Colorado (out of 700 surveyed nationally) an overwhelming majority stated that they did not believe any growth would occur until 2011, or later.
Ninety percent of the Colorado contractors surveyed said that they had lower profits in 2009 than in years past, and 11% reported that they suffered losses. 85% of the contractors reported that they laid off employees in 2009 and 25% reported that they will lay off more people in 2010.
80% of the AGC’s Colorado chapter members renewed their memberships for 2010, and 20 new companies have joined. Overall, the AGC’s Colorado chapter expects to lose 10% of its membership this year.
With the industry having its back against the wall anyway, I think this is an opportune time for plaintiffs’ lawyers to pick a fight in the legislature for construction defect measures favorable to owners. Who will be around to oppose them? If companies are facing losses and layoffs, will anyone be up for the fight against the plaintiffs’ lawyers at the state legislature? HHMR, for one thing, will be around and up for the fight!
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