Topic

    dcrocker
    FDIC work no cakewalk
    Topic posted November 13, 2009 by dcrockerElite Contributor, last edited January 19, 2012
    1152 Views, 5 Comments
    Title:
    FDIC work no cakewalk
    Content:

    wow. I was just talking to an EP managing a portfolio of Phase Is for the FDIC. Pretty shoddy info provided on some of these sites. Said they're lucky if a complete and accurate site address is provided (one was just labeled "vacant property on I-84"). Owner of another is in prison on coke charges (do you have to visit the jail? or can you say the owner wasn't available?), and another denied being the owner. These are tough projects, and price-competitive ones but in a market as tight as this one, firms are nonetheless glad to have the work.

    Comment

     

    • rickreyn
      posted January 27, 2010 by rickreynMember

      We have a chance at 63 of these nebulous sites all over Florida. I'd like the work, but I am at a loss at how to price these out. They'll take all my waking hours for 6 weeks and a lot of gas. By the hour or by the project? I don't know. Land ranges from 1 ac. to 900+.

    • Stones
      posted February 15, 2010 by StonesContributor

      I think we were looking at FDIC work but didn't like the contract terms.  Probably a good thing from the sound of it.

    • Heatherc
      posted April 23, 2010 by HeathercMember

      They keep me awake some nights, for sure!  Stones, I think you should be fine, as we have been able to clarify contract language for various receiverships.  Feel free to send me an email, and I could give you a few useful tips to consider before bidding out the work.  There are some intricacies to the Scope and a few little hurdles that took us a while to jump and fine tune.  But overall, they are a great client.   

    • SarahB
      posted June 25, 2010 by SarahBMember

      What exactly are the 'intricacies to the scope' for an FDIC Phase I?  My company is bidding on a handful of these in Georgia and I've been asking around.  I heard from 2 reputable sources that a FDIC Phase I is no different than a regular ASTM/AAI because the standards haven't been developed yet.  Others say there are additional requirements (ACM, LBP, etc.)...but no one can tell me exactly what they are. 

    • FStephenMasek
      posted September 26, 2011 by FStephenMasekContributor

      On one of the RTC projects we did in 1993, the owner threatened to shoot if we drilled.  He also cried poor, but drove a Mercedes 600 some days, a Rolls or Bentley others.  As owner of teh consulting company, my job was to keep him occupied while the crew drilled.  He was worried that we would not find anything, and he would have to deal with the government on paying the loan.  It was a car wash which formerly had gas pumps.  Worse yet, he told us that the bankers who had made the loan had formerly gassed-up at his pumps!  The tanks were still present.  When the first samples came up stinking of gasoline, I strongly suspected they would just hand him the deed.  That is exactly what happened. We installed three wells, and there was free product on the ground water.