Odd Lots Lots More on America's Electrical Components Crisis
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Apr 12, 2024 Chris Hatch, a partner at Forza Development and a seasoned commercial real estate developer, shares critical insights into the ongoing electrical components crisis. He discusses the persistent shortage of transformers and switchgear affecting construction projects across the U.S. Many developments sit idle, waiting on these essential components due to lingering supply chain issues from the pandemic. Hatch sheds light on the financial ramifications and the complex web of the supply chain, revealing the pressure on businesses to adapt amid rising costs and delays.
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Construction Challenges
- Chris Hatch, a commercial real estate developer, struggles to build projects due to ongoing supply chain challenges.
- These challenges make construction increasingly difficult.
Persistent Electrical Component Shortage
- Electrical transformers and parts have been in shortage for 42 straight months, according to the ISM.
- This persistent shortage is impacting various industries.
Transformer Explanation
- Chris Hatch explains what a transformer is in the context of his construction projects.
- It's the first point of contact between the power grid and a building site, receiving power and distributing it further.