Product Description

Product Details

• Amazon Sales Rank: #344544 in Books
• Published on: 2007-10-15
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 229 pages

Review
"Construction, a $1 trillion industry, is a bedrock of the mighty U.S. economy. But as Barry LePatner shows, it operates with an efficiency more characteristic of the old Soviet Union. Broken Buildings, Busted Budgets proves that waste, overspending, and economic irrationality pervade the industry, burdening consumers, taxpayers, and shareholders with enormous costs. As important, it lays out a blueprint for reform."-Daniel Gross, "Moneybox" columnist for Slate.com (Daniel Gross 20070301)

"Everyone in construction, from owners to contractors, from architects to construction workers, should read this book. Those who do will surely join Mr. LePatner in his crusade to fix an industry so vitally important to the way we live."-A. Eugene Kohn, Chairman, Kohn Pedersen Fox Associates (A. Eugene Kohn 20070305)

"As a leading construction industry attorney, Barry LePatner knows the industry as well as anyone-warts and all. Here he sends a strong warning to owners, agencies, and institutions charged with constructing or renovating the built environment to get their act together and radically rethink their business practices. He not only zeroes in on the industry's shortcomings but also offers up cures."-Stephen A. Kliment, FAIA (Stephen A. Kliment 20070309)

"Not since The Business Roundtable raised the red flag over 25 years ago on the ineffective use of construction dollars and its impact on the global economy has a treatise provided in-depth reasoning on the culprits. Broken Buildings, Busted Budgets provides deep insight as to why the construction industry has not corrected faults to mitigate such excessive construction cost overruns and has even begin to accept these everyday occurrences as the norm. Barry LePatner describes how the U.S. government and even our nation's most respected corporations fall prey to the inefficient practices of all parties involved in a major construction project-contractors, designers, workers, unions and suppliers. From his insights it is clear that we need to instigate a critical examination on improving this critical sector of our economy."-Mark A. Smith, Ernst & Young LLP (Mark A. Smith 20070326)

"Sadly, the lack of significant advances and adoption of construction technology improvements has greatly contributed to the broken building environment in which we now operate. It is imperative for architectural and engineering schools to educate their students to work collaboratively with contractors and other project stakeholders to ensure more assured budget and schedule success. Barry LePatner's insightful words are right on target."-Leonard Koven, P.E. Partner, AKF Engineers LLP (Leonard Koven 20070326)

"Out-of-control construction costs have a real potential to damage the economy. They have certainly led to a disruptive relationship between design professionals who draft construction documents, the contractors who build from them and the clients who usually end up paying for the resulting cost overrun. Broken Buildings, Busted Budgets identifies the sources of and proposes solutions for mitigating construction cost overruns."-Ramon Gilsanz, P.E. Partner, Gilsanz, Murray, Steficek LLP (Ramon Gilsanz 20070920)

"I found it definitely a worthwhile and stimulating read. A must for anyone interested in the economics of construction." -Tyler Cowen, Marginal Revolution (Tyler Cowen Marginal Revolution 20071205)

"Every now and then, a major construction project is completed on time and on budget. Everyone is amazed. . . Barry LePatner thinks this exception should become the rule. . . . A swift kick to the construction industry."-James R. Hagerty, Wall Street Journal (James R. Hagerty Wall Street Journal )

About the Author
Barry B. LePatner is recognized as one of the nation’s leading construction lawyers. He is founder of one of the first boutique law firms primarily representing corporations, institutions, and real estate developers on major construction projects and coauthor of Structural and Foundation Failures.

Customer Reviews

Busted expectations
A decent book and well written but it is thin on solutions and alternatives. Changing the construction contract is the theme of this book and the only relevant solution proposed.

Kept waiting for it to develop
I was disappointed by this book. It started out very well, with a promise to unlock the mysteries of a horribly inefficient industry. Hoping to find a manifesto for change, I instead found the proposed solution quite underwhelming.

The authors laboriously breakdown the current system in great detail, setting the stage and mentally preparing the reader for the great unveiling. And I kept waiting for that moment to come when the "ah-ha" would happen and everything would click into place. I had to double check that I was done when I reached the Notes section to make sure that there wasn't any more. "Is that it?" I thought.

It does provide a fascinating look at the inner workings of the industry. It is a good read for anybody in the construction industry, whether as an owner, contractor, or design professional. The authors certainly do give you a lot to think about, but little promise that it can be adopted industry-wide.

I recommend reading this book, but do not expect it to be world-changing.

Lost 'Art' of Construction
Barry LePatner's essay on the state of the failed construction world in the US reminds us that not all things are created equal. The concepts of financial leverage, specialization of trades, diffusion of risk, and vertical/horizontal integration are explained so the lay person can grasp the intent of the book. The essential truths of "time, price, and quality" have been replaced by "time value of money" and this theme is quietly woven throughout the book.

No single volume can elucidate the myriad forces affecting an industry some call the `second oldest profession,' but Mr. LePatner's admirable attempt to uncover the sources of inefficient and cost overrun construction makes us want to understand more. It used to be there was an `art' to construction that matched the glorious designs of prolific architects and what was built was a source of pride for all. Mr. LePatner's book is both nostalgic and forward thinking; it offers us glimpses of the malaise that characterizes the antiquated design-bid-build business model.

Not since Dana Cuff's "Architecture: The Story of Practice"--the exposé about the esoteric underpinnings of the architectural profession--has an essay attempted to exorcise the silent demons lurking in the counterpart profession of construction. If asymmetric information is a source for unequal footing at the outset of every project, perhaps the economic context of construction too is antiquated.

I appreciate the boldness with which Mr. LePatner argues his position. As a developer and financier of high-end real estate, I empathize with each scenario illustrated. The lessons and practical advice to owners to overcome false starts and overbudgets are put forward with a studied determination guided by good intentions. Will Mr. LePatner's book single-handedly be the catalyst to fix the construction industry? No one can predict the future, but we can't say he didn't warn us. -Roy R. Pachecano, Real Estate Columnist, BUILDERnews Magazine