Went long here expecting URS to benefit from all that money being pumped into the States by the Feds for infrastructure. Turns out what these worms are doing is playing 3 card monty with the money. Seems if State A normally spends a billion a year on roads and infrastructure, what they are doing is stripping that billion out of the budget and spending it to keep the no show payroll in tact, then taking a bil from the feds and applying it to their normal capital projects. In short there's no increase in capital spending, so no new business for URS. Bad planning on my part to trust state officials.
Ha1 You guys are discussing the $787 Economic Stimulus Package. Well here is the update! Around $7 billion of the 30 billion have already been spent! I talking about the bridge and roadwork portion. Most are going to states that do not have that bad of a situtation in that area. Most of the 2010 is on education(60%) and on alternative energy(30%)!
I don't think that URS will receive much benefit from it because it is too small and a lot of companies are going to be bidding on the limited contracts. The margin will be breakeven range!
Yep, I saw that coming. Didn't know the details until now. Thank-you for that. Now, I'm looking to see what state employees start diverting that money to their own pension funds. Watch for this. They (state employees) think no one is watching to see what they do. Do you see what AIG did with taxpayers money and the bonuses paid out. Well, The state employees are wanting to retire on their full pension too, regardless of the money being there.
There is no way that the money needed for all of these state employess are in the plan to be able to pay these state employees at retirement. No way.
Not the state local or federal. Those funding crisis will come after the FDIC fails, the FHA goes under (within months by the way) and the social security sytem reaches into the general fund to get its money back and realizes it's gone. This new moron is simply kicking the can down the road as did his predecessors. Great things they ( we by allowing it) are doing for our kids.