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January 26, 2010

Strategies for contractors to survive the recession

By KATIE ZEMTSEFF
Journal Staff Reporter

The recession has had a devastating effect on the construction industry. But Dorothy Terrell, a construction attorney and CPA with Pachter McWhorter in Virginia, said there are a number of strategies contractors can pursue to stay strong and win work.

Today's work environment is filled with desperation, panic, fear of the unknown and incredible competition. The most important thing, she said, is to stay healthy and survive. “The key to any strategy is to do something. It's extremely important in this crisis,” she said. “This one you can't wait out.”


 
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