Granite sees opportunity from federal stimulus, addresses accounting irregularities

Kennith Bogan

Dive Quick:

  • On its initial earnings contact with Wall Avenue analysts in 16 months yesterday, Granite Development issued a mea culpa for accounting irregularities in its hefty civil group that led to an inside investigation as well as subpoenas from the Securities and Exchange Commission. But the organization documented that even as it continues to do the job to set the problems powering it, it sees chance forward in elevated federal and condition investing coming out of the pandemic.
  • Soon after issuing restated financials very last 7 days for 2017, 2018 and the very first nine months of 2019, Granite claimed 3rd quarter 12 months-to-date success for 2020 on Thursday, edging just one move closer to acquiring its books back again into compliance. Earnings of $2.6 billion for the 9 months ending Sept. 30 was up 2.2% for the 12 months. It ended the 3rd quarter of 2020 with a
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Coronavirus Both a Challenge and an Opportunity

Kennith Bogan

Virus fears have gone viral, and although dread of the not known may well discourage some potential buyers, the fiscal markets’ rush to bonds will possible push house loan costs even lessen.

NEW YORK – A person effect of minimal bond yields is extremely-low-priced mortgages. The common curiosity on the thirty-year, mounted-amount house loan, according to Freddie Mac, is now just three.45%. It’s a a few-year minimal that numerous count on to get even lessen.

You’d think that would be great for the authentic estate sector. But all that uncertainty driving costs lessen is on the minds of house potential buyers and business homeowners, far too.

Just this morning, authentic estate agent Joanne McCoy in Lincoln, Nebraska, acquired a text concept from a customer who experienced been hunting to lease some space for a nail salon.

“He’s likely to place that on hold for a although mainly because of the

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