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Metricon in crisis #ConstructionRecession

#Metricon #Construction #HeiseSays
One of Australia’s biggest builders is in crisis talks.

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  1. Are the owners of this business & CEO going to liquidate their fortunes to save the staff & peoples builds? Doubt it they just walk away & keep all their money. The poor tradies are going to get screwed

  2. to Build Back Better you have to destroy what was originally there to begin with. How long will it take for the fools to wake up? You will own nothing and be happy WEF. Global communism is here and taking over unless people stand up and say NO MORE. Our government is full of traitors working for external masters instead of for the people. The International Pandemic Treaty will be the final nail in the coffin

  3. Be aware in Ireland during their crisis the emotional costs were awful.

    We need to look after each other. A housing/construction crisis is likely.

    Let's hope metricon isn't in trouble. I recall in the 80s major builders going broke sent ripples throughout the industry.

    Rip to this bloke.

  4. So trading whilst insolvent. Knowingly taking deposits and engaging subbies that they probably can't afford to pay. So our university sector and building sector is down the toilet. Our last complex economy has one sector left…..mining boom to be shortly a bust?

  5. You need a system where the person actually doing the work gets paid as soon as possible – a separate account needs to be set up to stop money being siphoned into other builds.

  6. I built with Metricon in 2008-2009. They keep you at a very long arms length. Their project management was poor. Their build time blew out considerably. Some of their subbies did great work (brickies and tilers) but others were appalling. They took shortcuts when they could get away with it and tried to impose variations to rectify these shortcuts. There was MASSIVE materials waste on site which was all built into the price!

  7. Be mindful that "Articles" like this are a tactic by developers, volume builders and industry groups that are used in the future to request stimulous as they say we warned you.. its a manipulation tactic.
    Yeah its tough out there but for an industry that has been booming for over 10 years you think 5 months of inflation and the interest rate has not even come into affect could bring it down.

  8. After a long period of stability too many companies optimise assuming that the world won’t change. Volumes go up, margins come down. If a business doesn’t drop its prices it loses market share to another company. Then all the companies following the same business model are in trouble at the same time when their collective assumptions prove wrong.

  9. I had a long period where I had suicidal tendencies, I think you need to get the skills to recognise and overcome depression depression it creeps in. You can do this yourself but most people could use professional help. it's just a chemical imbalance after all.

  10. I built my own house. It was not easy and took about 18 long months. Still in it 20 years later and it’s still like new. Not a crack anywhere not even a plaster screw popped. Damn I did a good job 😂

  11. It's a well known fact that builders are better at buying dual cab units than managing their finances.
    This is why we try to stay away from builders as a client for our fabrication business.

  12. Not fair we smaller builders can't get materials and these large volume builders have been hogging the materials.

    Now because they have 200 houses with the state government they get a bail out .
    .socialism ? Large defacto state run building companies .

    They should be on there own if was run badly and the BANKS are to blame

  13. There are plenty of construction companies in deep trouble.and will collapse
    Govt gave 700 billion to property sector since pandemic.

    Where is money gone??

    It is not rumours. TRUTH will come out soon..
    Same hotondo, probuild, condev , etc said .

    Later they went into administration

  14. I just watched this while I was sitting directly across from Metricon Stadium…. Maybe if I sit around for long enough they’ll start taking the sign down 😆

  15. Vacant block of land, swimming pool got installed last week and Metricon about to start…. Then this happens… Australia is in not good place at the moment…

  16. cats and dogs dogs doing silly stuff work for me. cheap built modular homes on stilts for easy sale when you are ready to upgrade and remove shire councils.

  17. Shocking and tragic scenario for anyone. Thinking of their family and the challenges for the colleagues to now have to work through such a challenging situation and with a whole lot of rumour and assumptions. Empathy and compassion no where to be seen anymore. I hate the way humanity destroyed itself over the last two years. 😭

  18. Plumbers , Electricians quoting $150 per hour , Brickies charging $3.50 per std metric brick , Plasterers , Chippies and Grano workers have never had it so good because limited available trades … Even the medical industry is booming . I have to put my name down with five Dentist's and the nearest date is 17/7/22 just for a visit . I'm now looking at a holiday in Bangkok and get my Teeth seen to ,So far its looking good and I'm not to worried about what the AMA say all the surgeries I rang here had Asian names so thats comforting …

  19. I'm in the industry in qld
    Have had subbies come to my site telling me the have left working for metricon cause they have started pay invoice with credit cards

  20. Sadly, this is the beginning of very hard times ahead, we have not seen anything yet.
    The cost to our lives, will be immense. They are the 1st ones on many more to fall. Not
    only this, but lots of crime and pain to come.

  21. I work for metricon.

    Unfortunately this is all media hype, this media coverage is the thing that will actually damage Metricon. We’ve had suppliers and trades say they aren’t showing up just because of these exploding rumours

    Metricon have enough equity in land to cover any short falls from the building sector. They have been applying for government support just like golden did when the car building industry got bad

    The government won’t let Metricon go bust

  22. I feel for the Metricon family, clients, external staff as I did work there a few years ago – If the media keep going the way they are, it will be tough times ahead for Metricon as all they do is place doubt in peoples minds and things may get worse if the progress payments stop on the builds under construction. Doubt in mind comes staff / contractors ringing around other builders looking for work as they are currently doing here in NSW. Its tough times ahead for Builders and its not all the Builders fault as mentioned in the Vid.. with Fixed price contracts, Sub-contractor shortages, Material price increases, Lack of materials in Australia and now dealing with this weather/rain and it goes on. If they say there are up to date with payments then continue on as normal but as a sub-contractor don't put your eggs in the one basket!

  23. They are pumping out the "malicious rumour" emails at the moment. I've also been told that they are paying people 10k to tear up existing build contracts and sign an NDA.

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