When are people going to learn that cheaper is never better. And why hasn’t the FTC clamped down on Chinese products, first lead in our Children’s toys, now sulfuric smelling drywall….
From PalmBeachPost.com (FL):
Drywall Panic in South Florida
Home buyers in South Florida are petrified of tainted Chinese drywall.
» Read more: Florida:-Drywall Panic in South Florida
Heads up people. This one is a hot one.
Feel free to review the news posting. But then take a look further downward. We (at BLMYC) went so far as to post the contractor’s license information. Apparently his license expired a few times, and he’s be doing business as Fawcett Homes Inc.
From Newspress.com (FL):
Naples Contractor (Scott Fawcett) faces federal charges of loan and credit application fraud
A Naples general contractor is being charged by federal prosecutors with loan and credit application fraud after he allegedly got a loan for $388,000 by lying about how much money he had in a bank account….
From Wmbb.com (FL):
Holmes County Contractor Arrested for Defrauding Medicaid
Attorney General Bill McCollum today announced that a Holmes County man has been arrested for defrauding the Florida Medicaid program out of more than $33,000. Robert Greenlee, owner of Greenlee and Sons Construction in Bonifay, was arrested today by officers with the Holmes County Sheriff’s Office on a warrant from the Attorney General’s Medicaid Fraud Control Unit.
» Read more: Florida:-Holmes County Contractor Arrested for Defrauding Medicaid
Project lead for sub-contractors…
From Heraldtribune.com (FL):
Kraft Construction Co. hired to rebuild complex
Sarasota-The Kraft Construction Co. was hired Monday as construction manager/general contractor to rebuild the city’s Robert L. Taylor recreation complex.
» Read more: Florida:-Kraft Construction Co. hired to rebuild complex #projectlead
Interesting article listing many of Florida’s once powerful developers…
From Tampa Bay Online (FL)
Economic hammer pounds real estate developers
Long vilified as greedy power brokers, many of the people in the business of turning open spaces into malls and subdivisions are reeling from liens, foreclosure lawsuits and bankruptcies….
…Prominent names with troubles:
Grady Pridgen. Known for his interstate billboard touting “Not Just Another Pretty Place,” Pridgen has faced multiple foreclosure lawsuits on office and industrial properties in Pinellas and Pasco counties.
In one case, Capmark Bank foreclosed on $25 million in loans to Pridgen-controlled entities. Pinellas County businessman Hardy Huntley, owner of the Wagon Wheel Flea Market, bought out Capmark’s claim to the loans and took control of 190 acres of undeveloped land in the Gateway Business Centre securing the loans.
Pridgen has also faced a $6.9 million foreclosure suit brought by Mercantile Bank involving the Largo Intercoastal Marina and other properties, according to Pinellas County court records.
Paradise Development Group. A developer of shopping centers, this firm headed by Michael Connor — which touts 47 completed Publix centers — recently handed back seven projects in Florida to creditors.
Kearney Construction Co. This 53-year-old firm filed for Chapter 11 bankruptcy protection in August after it was hit with a trifecta of pain. One lender threatened to seize its work trucks, a bank pulled a line of credit and Kearney’s surety bond provider severed its relationship with the company.
Headed by Bing Kearney, a Republican fundraiser, Kearney Construction did early site work on International Plaza, Westfield Citrus Park and the future Cypress Creek Town Center near Wesley Chapel…..
More scary news about the Chinese drywall issue…
From newspress.com(FL):
CCCIA hears about bad drywall
Approximately 170 people representing various groups in the construction business, heard from several experts updating them on the latest in defective drywall from China at the Cape Coral Construction Industry Association dinner tonight at La Venzia.
Project lead for sub-contractors..
From Orlando Business journal (FL):
Schmid Construction to build new VA clinic
Schmid Construction has been selected by CSL Medical LLC as general contractor for a new Clermont community-based VA outpatient clinic scheduled to open in November….
Does this actually mean that higher education costs are on a reverse trend..:)
From Tallahassee.com:
Builders alarmed as FSU’s state funds for construction dry up
…FSU’s state money for building projects has all but dried up, and a construction official predicts it will have a “catastrophic” effect locally….
» Read more: Builders alarmed as FSU’s state funds for construction dry up
From News-journal Online (FL):
New buildings sit unoccupied in Volusia (Fl.)
A new oceanfront condo stands empty, construction crews were shut out of a nearly complete interstate hotel and the owner of a new retail center is offering free rent to attract tenants….
The commercial loan crisis is just beginning in Florida….
From Bankforclosuresale.com (FL):
Another Florida Bank Foreclosures Crisis Looming
The languishing economy, rising unemployment and crippling credit crunch are starting to strangle many commercial property owners that it would not be long and bank foreclosures in Florida would start to flood the real estate market again.
Already, the increasing number of commercial property owners who default on their mortgage payments are overburdening banks that have not yet fully recovered from the residential real estate market crisis.
» Read more: Another Florida Bank Foreclosures Crisis Looming
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