Goodbye 2020 and Cheers to 2021!
A Post analysis found 45 of the 50 biggest U.S. companies turned a profit 1st quarter 2020. Unfortunately, the majority of firms cut staff in 2020 and gave the bulk of profits to shareholders. Berkshire Hathaway, Cisco, Comcast, AT&T and Citigroup are just a few of the companies that made cuts in order to stay profitable. Read more here via Washington Post.
According to Forbes: “The Yelp Economic Impact report, which tracks business closures through Yelp customer review listings, found that an estimated 163,735 businesses have closed in the U.S. since March 1. The numbers represent an increase of 23% since July 10, when the count of closures sat at 132,580.” And CNBC reported that “Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent”. Read more here via TSETSERRA and GoBankingRates.
Fortunately, the construction industry made the essential list during the pandemic. Despite the grim statistics, few construction industry firms came out ahead after a very difficult year. Read more about these companies here via ConstructionDive .
Although we did not make the above top construction industry list, we feel pretty lucky to have had a double digit percent increase in sales from 2019 to 2020. We are blessed to have survived the 2020 pandemic year, and look forward to 2021. Take a look at some of our high profile projects from 2020:
Left to Right:
Allegiant Stadium (Las Vegas Raiders)
Desert Diamond Casino West Valley
Starbucks Retail Program
Phoenix Suns Practice Facility Renovation
Talking Stick Resort Arena
Sheraton Grand Phoenix
(Not pictured: Nationwide Realty Office, Hyatt House/Hyatt Place, AC Hotel, and Morgan Stanley Office.)
Thank you to all of our clients, vendors, suppliers, partners, and employees for making 2020 a not so bad year after all. Here's to an even brighter future, and cheers to 2021!
Western Millwork is an AWI and WI Premium Grade certified manufacturer and installer of Custom Architectural Millwork and Commercial Interior Elements. Since 1980, we have produced architectural woodwork and casework of the highest quality for contractors and architects throughout the Southwest.
Contact us for more information at (602) 233-1921 www.westernmillworkaz.com