Replies to post #18441 on MC Endeavors Inc (MSMY)

[ed3/6me]

in a lot of these companies 50% of the contract goes for bribes and bonuses (south america)the rest is the actual program. american companies work more efficiently so they get put on the absolutely necessary list and get called last

[riskon]

Thank you, Person Marked.

[retiredMM]

jaf

As most of the long time posters on this board know, I am in electrical contracting myself. I work on the largest projects in NYC (public and private) and I am extremely aware of how things work. I have defended MCE's position before as well, but some of these contracts have been signed for over 1 1/2 years. Typical contracts such as these have no physical work being done for 3-9 months after the Notice to Proceed but then the work starts and payments start to begin. When you have signed approx $250 Mill worth of contracts something should have started to show by now. When I spoke to Tim 6 months ago a few of the contracts were delayed in S. Korea due to the Japan Tsunami's yet we were not notified of this. We have not been notified of any of these signed contracts at all in about 1 year. Contract negotiation is done as these contracts have been signed and awarded. Change Order negotiations would not stop the start of the contract work. Funding for the contracts is usually defined before signing of the contracts and if they were not then these items should have been disclosed when they announced the contracts. Approval process is the reason that most contract work (physical work) doesn't start for 3-9 months, that is when submittals, designs and drawings start to get approved.

What I would like to see is an update regarding all of these contracts. Were they delayed, were they cxl'd has any work been performed on these jobs, etc. When speaking about the Zorb products the market for these is a fraction of what their other businesses can capture.