tobnpr
New Member
http://www.reuters.com/article/GCA-Economy/idUSTRE59F47W20091016
I've been a contractor for thirty years and have been through many cycles, but nothing as crazy as this...
I'm astounded by the number of incompetent contractors I have to compete against, day in and day out. Too stupid to realize you can't sustain a viable business without turning a profit.
I had one of my suppliers say that some guys underbid jobs to "generate cash flow". WTF does that mean? Money in/Money out = failure. They underbid and front-load their draws, use draws from current work to pay the last job's bills- until the pyramid crumbles...
I refuse to work for free- which means we haven't had as much work as we'd like.
One of the major General Contractors I work for has had such a problem with "low-bid" contractors not paying their bills that they're now requiring monthly Affidavits from sub and sub-subcontractors confirming they've been paid.
Anyone else in a line of business that has become so ridiculous you can't earn a profit?
I've been a contractor for thirty years and have been through many cycles, but nothing as crazy as this...
I'm astounded by the number of incompetent contractors I have to compete against, day in and day out. Too stupid to realize you can't sustain a viable business without turning a profit.
I had one of my suppliers say that some guys underbid jobs to "generate cash flow". WTF does that mean? Money in/Money out = failure. They underbid and front-load their draws, use draws from current work to pay the last job's bills- until the pyramid crumbles...
I refuse to work for free- which means we haven't had as much work as we'd like.
One of the major General Contractors I work for has had such a problem with "low-bid" contractors not paying their bills that they're now requiring monthly Affidavits from sub and sub-subcontractors confirming they've been paid.
Anyone else in a line of business that has become so ridiculous you can't earn a profit?