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DDN


Les
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Just received the email from DDN.

I have survived, so far, but I often wonder how.

"To all Inspectors/Builders:

Due to the continuing decline of the construction markets, government intervention in the foreclosure process, and frivolous lawsuits filed against the company, DDN Services has ceased operations effective today. We no longer have any staff to accept your calls.

We have been operating using a line of credit since April and that line of credit has now been exhausted and we have no further funds on which to operate. The December 15th and December 30th inspector payables cannot be released or mailed for this reason. We regret this occurring, but have made every effort to develop new business for the last 2 years and have exhausted our financial resources. We do not anticipate being able to make further payments to inspectors.

We will send an email update on January 5th to provide a status update.

Doug Stuart"

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I'm in to them for $170, this is for 3 draw inspections over the past 3 weeks. What irks me is that they knew they did not have the money, yet they still sent out orders for inspections. I think I have about 4 jobs with them that were on new homes that still have 6-8 draws each before they will be completed. I wonder if one of the other jobbers will pick up those or what will happen. Who knows.. I had worked for them since they started back in early 2000, never had any problems or issues.

So now we have;

Granite

Trinity

National

Broadlands (commercial only)

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