Reno...
Out my way (Dunnigan, California) a major truck stop was bought out by foreign interests -- i.e. immigrant [xxxx].
(Ethnicity suppressed to protect the reputation of those causing and installing extremely non-code compliant work.)
Bottom line: because of their immigrant status Sacramento and its tributaries deem it highly improper to hold said owners to the NEC.
So even though said location is HIGHLY utilizied by all long distance truckers and is by most standards rolling in cash -- they were able to go from bottom to top in a seriously large re-hab without any building permits at all.
This 'upgrade' included a clone of your situation: a couple of EMT runs to the truck blocks were stitched into the asphalt right at grade -- with a mere cream of beauty mortar laid on top.
Because of their location, they would necessarily be run over top by about 300 eighteen-wheel trucks every 24 hours. Yes, it's that busy.
Near as I can tell the entire re-hab was done 'in house' -- i.e. by fellow. [XXXX]
...... removed .........
In case you're curious, SBA lending is just about the only lending that banks are willing to extend to small firms at this time.
For most SBA paper, the bank is protected up to a full 90% not the old traditional 80%. This change occurred because of the 2008 crisis. Last I looked this provision keeps being extended.
For the above reason, no bank posted serious losses in their SBA 'book' all during this Greatest Depression.
*****
Heads up to Canadian electrical contractors: the Canadian real estate market shows epic signs of a bubble that wildly eclipses the American mania of 2006.
(Ditto for New Zealand and Australia.)
When the inevitable turn comes -- don't get caught out with loans to insolvent general contractors. This is the season to get the ship ready for the storm to come.
Last edited by electure; 05/09/15 04:23 PM. Reason: To remove political content
