You Heard It Here First

On June 10th in a blog post entitled “The End of Journey?” I alerted readers about rumors of Journey Electrical Technologies, Inc. having financial troubles. Contacts at wholesale houses said large sums of money were allegedly owed suppliers so future deliveries would only be made C.O.D. I spoke to the workers on the job sites. For the most part the workers seemed unconcerned, which didn’t surprise me. I’ve seen this happen before. The workers are always the last to know. They said, “That’s old news” and “our foreman says everything is fine”.

Bounced checks were just “accounting errors”.

Trailers recalled to the shop meant “they’re making repairs”.

Lack of material just meant “everyone has to make due”, etc……

Well apparently everything wasn’t “fine”. Industry insiders say that as many as 200 employees were told Friday that they no longer have a job with Journey.

Remember- you heard it here first.

Company Helps Identify Market Share

Dr. Stephen T. Staneff, President of Construction Data and Research, Inc. recently gave a presentation in Las Vegas, Nevada where he described the service that CDR provides. The experts at CDR perform analysis of the electrical construction industry to identify opportunities for growth. The information they provide can be used by union organizers to track market trends and competitors in their areas. Check out their website at: http://www.constructiondatares.com/

The end of the Journey?

Industry insiders speculated this week that Journey Electrical Technologies Inc. a nonunion electrical contractor may be heading for bankruptcy. I can hardly control my grief (satire). Some say that the company is late in paying wholesale houses for materials and creditors are tired of being taken for a ride. Employee’s at a project in Burbank, California reported hearing the same rumor a few weeks back but were assured everything is fine. Aren’t the employee’s always the last to find out? Is this the end of the road for Journey? If so, what led to their demise? Is this a good thing for the industry? Here's your chance to chime in.