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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (11426)	4/6/2004 3:47:15 PM
From: ild	Read Replies (1) of 110194

Inflation watch: latimes.com 22 Freeway's Latest Setback: High Bids Hopes are dashed yet again for a smooth process of improving an O.C. route that has had no major work since opening in the 1960s. ... Officials for the Orange County Transportation Authority said Monday that bids from Kiewit Pacific and Granite Construction well exceed an official estimate of $185 million to overhaul the main part of the 22 Freeway, from Brookhurst Street in Garden Grove to Main Street in Orange. ... OCTA officials say the high bids might stem from inflation in the construction industry. The industry has been beset recently by dramatic cost increases for fuel, steel and lumber. The price of steel, which reinforces pavement and bridges, rose at least 20% in the first quarter this year. Because of increasing demand for construction in the United States and abroad, some forecasts show that construction costs overall will rise more than 25% in the U.S. this year.

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