Kind of a Big Deal: “The Stimulus Is Just Icing on the Cake”
FdG Associates has bought a company that stands to benefit from the new economic stimulus package, but according to managing director Doug Dossey, there’s plenty of growth beyond that spending. “The stimulus package, we view, as icing on the cake,” he says. Yet it’s hard to argue that the firm’s purchase of Joseph B. Fay Co., a civil constructor and demolition company, could have come at a better time. The company expects that business from the stimulus package could drive the growth for the first 12 to 18 months of FdG's ownership. States like Utah and California face acute budget pressures, but with money from the stimulus package, they won’t have to match federal funding for their “shovel-ready” projects.
25 February 2009•2 mins read
