At the beginning of the year, I wrote that while no one liked the recession, some contractors and sureties were going to hate the recovery, too. As I said then, a new set of risks will arise as contractors price their work aggressively, profit margins lag and some companies take on too much and burn through their capital. That was pretty gloomy, but I didn't give the complete picture about what can go wrong during the unfolding recovery. Because contractors will price their work aggressively and be hungry for the cash needed for growth, financing will be essential.
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