Broken Buildings, Busted Budgets

by Lepatner, Barry B.

• ISBN13: 9780226472676
• ISBN10: 0226472671
• Format: Hardcover
• Copyright: 2007-10-15
• Publisher: Univ of Chicago Pr

Summary

Boston's Big Dig broke ground in the mid-1980s, and ten years later broke records as the most expensive highway project in U.S. history, running nearly $10 billion over budget. But it's only the most visible example of an increasingly common trend. Across the nation, construction projects large and smallfrom hospitals to schools to simple home improvementsare spiraling out of control with delays and cost overruns. Clearly, the construction industry is in urgent need of reform. InBroken Buildings, Busted Budgets, prominent construction attorney Barry B. LePatner builds a powerful case for change in America's sole remaining "mom and pop" industryan industry that consumes $1.23 trillion and wastes at least $120 billion each year. With three decades of experience representing clients that include eminent architects and engineers, as well as corporations, institutions, and developers, LePatner has seen firsthand how this risk-averse industry is plagued by bad management, ineffective supervision, and insufficient investment in technology. In an engaging and direct style, he here pinpoints the issues that underlie the industry's woes while providing practical tips for anyone in the business of building, including advice on the precise language owners should use during contract negotiations. As a recent Brookings Institution report highlights, the United States will spend $25 trillion on construction by 2030. A full $3 trillion of that will be wasted if the system continues unchecked, and we will all pay the price. Now, armed withBroken Buildings, Busted Budgets,everyone involved in the purchase of a buildingfrom homeowners seeking to remodel to civic developers embarking on large-scale projectshas the information they need to change this antiquated industry, one project at a time.

Author Biography

Barry B. LePatner is recognized as one of the nation’s leading construction lawyers. He is founder of one of the first boutique law firms primarily representing corporations, institutions, and real estate developers on major construction projects and coauthor of Structural and Foundation Failures.

Table of Contents

Overbudget and Overdue	p. 7
The Economic Context of Construction	p. 33
False Starts and Frustrated Beginnings: A History of the Industry	p. 65
Asymmetric Information: The Big Barrier to Change	p. 81
Minor Blemishes: Unions, Workers, and Government	p. 111
Fixing the Construction Industry: Consolidation, Intermediaries, and Innovation	p. 133
Practical Advice to Owners for Getting Started Now	p. 169
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