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Connie28;14211 said:
Demoman- You Know that Con-ed was pre-LVI, right??? I remember seeing that huge LRD right there on the water side. Phenomenal!
I was going to add the same response do to the fact that I too remember that project went to the East Side and saw for myself it was a (TOTAL MAZZOCCHI WRECKING JOB), in fact if anyone remembers the history channels episode of DEMOLITION it was a featured project that particular job. I suppose the apple or in this case the wrecking ball does'nt fall to far from the tree or top floor as it would be, only problem there is it's bringing a ton of shit down with it!. This should be an intresting next few months/year.
ANYONE ELSE SMELL FRAUD/MIS-REPRESENTATION!!!!!
Connie - thats my point, LVI is using Mazzochi projects (Con-Ed) in their marketing material saying how capable they are to do all this wrecking - they cant' wreck Sh^t!
Demoman- You Know that Con-ed was pre-LVI, right??? I remember seeing that huge LRD right there on the water side. Phenomenal!
wrecked - I was just at a convention for power and LVI was touting the power plants they did - It was all Con Edison in the City stuff all over their booth.
these big companies buying them out isnt always bad... you get a big firm to bankroll you it makes life alot easier.... you look at a company like NASDI who was owned by the Beratis for years and here comes a company like Great Lakes and buys them out..... Chis Berati is still the Pres of the company and all the old NASDI guys are running the company the same as they did 20 years ago.... So not all these buyout are a bad thing....
Maybe they just don't have the money. I think they are hurting. it seemed like a good idea at the time but in the new market place it may not be a good idea. The whole Penhall thing and everything else they have tried is just coming to a head. I think McNammara saw the writng on the wall and that is why he went to Lend Lease. Watching and talking to people about things like this in our business is better than any soap opera or reality show on T.V.
Initially, I agreed with the scorch and burn theory but I actually talked to Grace at one point. She said that McNamara (former ceo) had her sit down with all the marketing people at LVI and disclose contacts etc. She said that those guys had no interest, never contacted anyone. They really haven't marketed any demo skills at all. They still do use marketing materials with old white junk machines on it. Maybe they never intended to stay in the business? Why make an acquisition then? Mazzocchi and Brandenburg Northeast ? Pretty tough to beat.
This is a scorch and burn tactic - LVI goes in and gets Mazzochi contacts - because they lacked demolition contacts and boom exits stage left.
C'mon, what lawyer hasn't thought of this one??? LVI has done a ton of acquisitions (never pd 100%) Mazzocchi gave them an estimate for profit on every job and if they didn't make it they got to deduct it from the balance, so let's say LVI owed them $10 mil , maybe it ended up being $7 mil. Very fair deal. Think about this, though. IF you were a big time Asbestos GC and your guys were always hiring demo guys, that they had relationships with, how do your managers make more $$ , by doing the demo themselves or selling the number???That's what happened at LVI. Look, the CEo, McNamara quit 3 mos ago. He saw exactly what the MWI team was trying to tell him. Anyway, what the hell does a Union Operator know about a deal?
rumor has it that mazzocchi cooked the books when they were bought out by LVI. Supposdly they told LVI there was much more money comming in than there really was.... An operator who worked for them for 20 years told me that... I dont know how true it is but he told me this 6 months ago and now this is comming out....
:confused:Look out! As predicted, the LVI/Mazzocchi acquisition is in default. LVI will not pay the Mazzocchi's the undisclosed millions of back end money,l so Nick and Grace will be free to do whatever. Rumor has it that they are looking to pair with a major firm that wants to expand on the east coast. They have a yard for equipment , contacts, etc.. The Mazzocchi's always knew how to make money and their reputation in the industry is top notch. This will be something to watch!
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