Fairfield Connecticut Construction Expert Witness Directory

Key Economic & Geopolitical Themes To Monitor In 2024

January 16, 2024 — Global Insights Center Staff - The Hartford
Slowing US Economic Growth and Flattening Interest Rates Growth in the first half of 2023 averaged approximately 2.0%, driven mainly by private sector investments outside of the residential housing sector, government spending, and strong consumer demand. In 2024, The Hartford’s Global Insights Center is expecting investments and government spending to continue and may support growth in the year. However, consumer health may start to weaken due to elevated leverage, higher interest rates, and sticky inflation. Since the Federal Reserve began to increase interest rates, consumer activity and household finances have not been tremendously affected. However, as revolving interest rates (credit card loans) continue to reset that may change, especially since household savings rates fell below pre-pandemic levels and may affect consumer demand. Read the full story...
Reprinted courtesy of Global Insights Center Staff, The Hartford

Can Your Industry Benefit From Metaverse Technology?

November 06, 2023 — The Hartford Staff - The Hartford Insights
As the metaverse evolves, we know there are inherent risks for businesses. But what industries can we expect to be impacted and what are the potential upsides and opportunities? “We are observing how different industries are incorporating this technology to better their business strategy. For example, companies are utilizing augmented reality to assess the risk for large catastrophes, like wildfires. This technology could help prevent major disastrous events if integrated properly,” said Michael Kearney, vice president of emerging technologies and innovation at The Hartford. As virtual and augmented reality technologies become more popular, there is an uptick in demand across industries to mitigate risk, increase company efficiency and build brand awareness. There are several industries that may be significantly impacted by the evolution of the metaverse, including:

Technology: It is anticipated that there will be cutting edge technologies at the forefront, building the infrastructure for the metaverse.
Gaming: This industry has potential to be the center of the metaverse with gamers developing a deeper connection to the digital world.

Read the full story...
Reprinted courtesy of The Hartford Staff, The Hartford Insights

Real Estate & Construction News Roundup (1/24/24) – Long-Term Housing Issues in Hawaii, Underperforming REITs, and Growth in a Subset of the Hotel Sector

February 19, 2024 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
In our latest roundup, commercial real estate’s relationship with technology, towns and cities across the country prevent dollar stores from opening, empty offices and other commercial buildings are reused for housing, and more!

Between 1988 and September 2023, the hotel room supply in the select service and extended stay hotel sector has increased by 60% greater than full-service hotel room supply growth. (Michele Laufik, Hotel Dive)
With high mortgage rates and home prices, would-be buyers are understandably looking for deals — even if they need to move to a different city, state or region to find them. (Ana Teresa Solá, CNBC)
Roughly 60 towns and cities have made changes to their zoning laws since 2018 to prevent dollar stores from opening within their limits. (Alex Bitter, Business Insider)

Read the full story...
Reprinted courtesy of Pillsbury's Construction & Real Estate Law Team

Super Lawyers Selects Haight Lawyers for Its 2024 Southern California Rising Stars List

February 05, 2024 — Haight Brown & Bonesteel LLP
Congratulations to the following Haight attorneys who were selected to the 2024 Southern California Rising Stars list:

Kyle DiNicola
Patrick McIntyre
Kathleen Moriarty
Kristian Moriarty
Austin Smith

Each year, no more than 2.5 percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor. Super Lawyers, part of Thomson Reuters, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys. The Super Lawyers lists are published nationwide in Super Lawyers magazines and in leading city and regional magazines and newspapers across the country. Super Lawyers magazines also feature editorial profiles of attorneys who embody excellence in the practice of law. Read the full story...
Reprinted courtesy of Haight Brown & Bonesteel LLP

Enforceability of Contract Provisions Extending Liquidated Damages Beyond Substantial Completion

April 15, 2024 — Stu Richeson - The Dispute Resolver
This post takes a look at the enforceability of contract provisions providing for liquidated delay damages after substantial completion. Typically, the assessment of liquidated delay damages ends at substantial completion of a project. However, various standard form contracts, including some of the ConsensusDocs and EJCDC contracts, contain elections allowing for the parties to agree on the use of liquidated damages for failing to achieve substantial completion, final completion, or project milestones. The standard language in the AIA A201 leaves it up to the parties to define the circumstances under which liquidated damages will be awarded. Courts are split on the enforceability of provisions that seek to assess liquidated damages beyond substantial completions. Courts in some jurisdictions will not impose liquidated damages after the date of substantial completion on the ground that liquidated damages would otherwise become a penalty if assessed after the owner has put the project to its intended use. Perini Corp. v. Greate Bay Hotel & Casino, Inc., 129 N.J. 479, 610 A.2d 364 (1992). When the terms are clear, other jurisdictions will enforce contract terms providing for liquidated damages until final completion, even if the owner has taken beneficial use of the facility. Carrothers Const. Co. v. City of S. Hutchinson, 288 Kan. 743, 207 P.3d 231 (2009). Read the full story...
Reprinted courtesy of Stu Richeson, Phelps
Mr. Richeson may be contacted at stuart.richeson@phelps.com

Orange County Team Obtains Unanimous Defense Verdict in Case Involving Failed Real Estate Transaction

March 25, 2024 — Lewis Brisbois Newsroom
Orange County, Calif. (March 4, 2024) - Orange County Partners Esther P. Holm and Alexandra Anast obtained a unanimous defense verdict in a real estate matter involving a failed real estate transaction. The property at issue, which was located in the West Hollywood Hills and had beautiful views, was undergoing extensive remodeling. There were several bids for its purchase. Ultimately, the plaintiff, a real estate investor, was awarded the purchase. The plaintiff and the seller entered into a real estate purchase agreement, but the plaintiff failed to release the physical contingencies within the 17-day period prescribed by the contract. Instead, the plaintiff demanded a reduction in price, which the seller rejected. The plaintiff then filed a lis pendens on the property, clouding the title and making it impossible for the sellers to sell the property to anyone else. The buyer and seller subsequently engaged counsel. The plaintiff filed the lawsuit against the seller as well as the real estate company and its agents. Prior to trial, the plaintiff and the seller reached a settlement. Read the full story...
Reprinted courtesy of Lewis Brisbois

Largest Dam Removal Program in US History Reaches Milestone

December 11, 2023 — Mary K. Miller - Engineering News-Record
All work associated with removal of the first of four hydroelectric dams slated for demolition on the Klamath River completed in early November, according to the dam owner, Klamath River Renewal Corp. Demolition of the four dams on the Klamath River that flows through parts of Oregon and California is the largest dam removal project in U.S. history. Reprinted courtesy of Mary K. Miller, Engineering News-Record ENR may be contacted at enr@enr.com Read the full story...

The Prolonged Effects on Commercial Property From Extreme Weather

January 29, 2024 — The Hartford Staff - The Hartford Insights
As evidenced by the extraordinary heat in the Southwest, a string of tornadoes in South and Midwest, and heavy rains in California and Florida, 2023 was a banner year for extreme weather. However, 2024 may be no different, which means now is the time for businesses to rethink the way they approach volatile weather, as well as the frequency and severity of storms and natural disasters. The risks and challenges that businesses face as extreme weather becomes stronger and causes more property damage, requires innovative technology with specialized insurance solutions. Through updated building codes, advancements in technology and meaningful infrastructure improvements, businesses can make a difference in protecting their property and reducing losses. Stronger Building Codes To Withstand Storms It is not uncommon to see the destruction that a hurricane or tornado leaves behind. However, stronger building codes are one of the best ways to make sure property can withstand catastrophes. Florida for example implemented changes to its building codes after Hurricane Andrew, and then again in 2007 after the Hurricanes of 2004 and 2005. New construction since then has made houses and buildings significantly more hurricane proof. Buildings constructed 30 years ago were likely built with codes that may have neglected the impact of strong winds from an extreme hurricane or significant rainfall that a storm can bring, especially along the Atlantic and Gulf coasts. Read the full story...
Reprinted courtesy of The Hartford Staff, The Hartford Insights

FAIRFIELD CONNECTICUT CONSTRUCTION EXPERT WITNESS DIRECTORY AND CAPABILITIES